South Africa has taken a major step towards expanding local-currency trade in Southern Africa after the Angolan kwanza became the second settlement currency on a regional payment system that had operated exclusively in rand for 13 years. Angola’s kwanza has become the second settlement currency on the SADC Real-Time Gross Settlement (SADC-RTGS) platform. The move…
The Zambian government has restricted unrefined copper exports to force foreign mining and industrial companies, especially Chinese firms, to build local processing plants. Zambia has imposed restrictions on the export of unrefined copper to encourage foreign firms to build local processing plants. The policy aims to shift the country from exporting raw minerals to producing…
Operations at one of the world’s largest platinum mining complexes have been temporarily suspended after six worker deaths over the past year and a rise in serious underground safety incidents prompted owner Impala Platinum Holdings (Implats) to halt mining and launch a comprehensive safety overhaul. South Africa’s largest platinum mining complex has suspended operations after…
