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Nov 30, 2012

Congo rebel pullout from Goma runs into hitches

GOMA, Democratic Republic of Congo, Nov 30 (Reuters) – A
planned battlefield withdrawal by rebels in eastern Congo under
a deal brokered by regional governments ran into hitches on
Friday, including a dispute over abandoned army supplies that
the insurgents want to take with them.

Leaders of the Tutsi-led M23 rebel movement had agreed to
pull out by Saturday from Democratic Republic of Congo’s eastern
border city of Goma, which they seized on Nov. 20 when they
routed government troops backed by United Nations peacekeepers.

Nov 30, 2012

Some Congo M23 rebels resisting Goma pullout deal – spokesman

GOMA, Democratic Republic of Congo, Nov 30 (Reuters) – A
reluctance of some rank and file fighters in Congo’s M23 rebel
movement to withdraw from the eastern border city of Goma is
complicating a deal their commanders agreed with regional
governments, a rebel spokesman said on Friday.

A rebel pullback from Goma, seized by M23 from fleeing
United Nations-backed government forces on Nov. 20, would signal
some progress in international efforts to halt the
eight-month-old insurgency in eastern Democratic Republic of

Nov 29, 2012

Congo general pledges war as rebels prepare to quit Goma

GOMA/MINOVA, Democratic Republic of Congo (Reuters) – A Congolese government army commander said on Thursday only war could end a rebellion in the east by Tutsi-led insurgents as the rebels prepared to withdraw from the border city of Goma under a deal brokered by Uganda.

The comments from Congo’s newly-appointed head of land forces Lieutenant-General Francois Olenga Tete appeared to fly in the face of international efforts to settle the conflict, and reflected anger in the army’s officer corps at the prospect of any negotiation with the insurgents.

Nov 15, 2012

Uganda oil a sad story of the three Gs

JOHANNESBURG, Nov 15 (Reuters) – Oil in Africa tends to
depend on the three “Big Gs” of geology, geography and
governance and investors in east Africa’s much-hyped finds are
discovering the hard way what happens when they are not
perfectly aligned.

Six years after Uganda struck oil in its interior, all of
the pieces are beginning to click into place for a boom that
holds the promise of prosperity for one of the continent’s
poorest states.

Nov 14, 2012

S.Africa stocks fall as retailers, miners wilt

JOHANNESBURG, Nov 14 (Reuters) – South African stocks fell
for a second straight session on Wednesday as disappointing
results dragged down retailers and a sell-off in mining stocks
continued despite the prospect of an end to a crippling strike
at Anglo American Platinum.

The JSE Top-40 index lost 0.41 percent to 33,042.71
while the broader All-share index also ended 0.41
percent lower at 37,241.79.

Nov 13, 2012

Anglo’s bad news day highlights challenges for new CEO

JOHANNESBURG/LONDON, Nov 13 (Reuters) – Miner Anglo American
gave the market a taste of the trouble ahead for its new
chief executive, raising cost estimates for its Minas Rio
project and warning of lower profits from South African iron

The Minas Rio iron ore project in Brazil is now expected to
cost at least three times the original estimate.

Nov 2, 2012

Cost of playing east Africa oil game on the rise

CAPE TOWN (Reuters) – A few years ago governments in east Africa would practically pay companies to come and explore for oil or gas on their territory.

Those days are gone.

Promising discoveries from Mozambique to Kenya have put governments in the driver’s seat and the rising fees they will demand from oil and gas companies will start to weed out the smaller players that have blazed the region’s exploration path.

Nov 1, 2012

Somaliland hopes oil will replace goat dependence

CAPE TOWN, Nov 1 (Reuters) – Wanted: investors for small
African nation with good oil and mineral potential – no seat at
the United Nations but history of independence in rough

The break-away nation of Somaliland is a tough sell but the
announcement this week that serious hydrocarbon exploration is
about to kick off there shows that oil talks, regardless of
political status.

Oct 30, 2012

Rebel Somali enclave sees drilling by 2014

CAPE TOWN (Reuters) – The break-away territory of Somaliland sees drilling for oil as possible by 2014 as three companies start exploration activities, the country’s mining and energy minister said on Tuesday.

Hussein Abdi Dualeh told Reuters the three companies are Ophir Energy Plc (OPHR.L: Quote, Profile, Research, Stock Buzz), Australia-based Jacka Resources (JKA.AX: Quote, Profile, Research, Stock Buzz) and Genel Energy (GENL.L: Quote, Profile, Research, Stock Buzz), which is headed by former BP (BP.L: Quote, Profile, Research, Stock Buzz) chief executive Tony Hayward.

Oct 3, 2012

S.Africa strike spreads to iron ore mine

JOHANNESBURG, Oct 3 (Reuters) – A spate of wildcat miners’
strikes spread to Africa’s top iron ore producer on Wednesday,
escalating the labour unrest that has become a major headache
for South African President Jacob Zuma.

The industrial action at Kumba Iron Ore, a unit of
global miner Anglo American, further dented investor
confidence in the continent’s wealthiest economy as it showed
the protests had moved beyond platinum and gold mines.

    • About Ed

      "I cover commodities in southerrn Africa, a region that I have returned to after spending over four years covering religion, politics and the Great Recession in America. I am a Canadian citizen and grew up in Nova Scotia."
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