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Somalia presidential hopefuls make last vote pitch in first-ever TV debate

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By Abdi Sheikh

MOGADISHU (Reuters) – Presidential candidates in Somalia rounded off campaigning with an unprecedented televised debate on Monday, dominated by issues of corruption, security and U.S. President Donald Trump’s travel ban.

Somalia, which holds a presidential vote on Wednesday, is one of seven majority Muslim nations whose citizens were barred from travel to America under Trump’s executive order.

Many Somalis were sent back home or stranded at airports, until a U.S. judge put the ruling on hold.

“I will tackle the issue of refugees deported from the United States and other countries, and will settle internally displaced people,” Bashir Rage, one of several former warlords seeking election, said in the debate broadcast on TV and radio.

Wednesday’s presidential vote is part of the rebuilding effort in Somalia, which was shattered by more than two decades of conflict and where clan loyalties still tend to trump policy in politics.

“Somali clans have fought for many years so I will reconcile them so we have a government that will bring people together,” said candidate Mohamud Ahmed Nur Tarsan, a former Mogadishu mayor, promising to fight corruption and Islamist militants.

Candidates bidding for office in a race repeatedly delayed since August promised to improve security and the economy.

Most of the 23 hopefuls did not turn up for the debate, split between two sessions due to number of candidates. Voters complained that the debate was more of a question and answer session, that ignored people’s daily concerns.

Candidates were asked questions such as “why do you deserve to become president?” by a prominent journalist.

“I wish the questions were from citizens,” Ahmed Nur, from Baidoa, northwest of the capital, told Reuters.

President Hassan Sheikh Mohamud had been due to take part in the afternoon debate, but had still not turned up as it began. He is seeking a second term after more than four years in office during which time he has faced criticism from the public and Western donors about corruption.

Major Osman Mohamed, a military officer who like other soldiers complains about delayed wages, said: “The best questions, which I am sure our lazy president can’t answer, is how to solve corruption and insecurity problems.”

An insurgency by al Shabaab Islamist militants scuppered plans for each adult to have a vote, so Somalia’s 300 members of parliament will instead vote on the next president.

About a third of lawmakers, who were themselves picked by about 14,000 clan elders and regional figures, are loyal to the president’s Peace and Development Party, giving Mohamud an edge in the race but not enough to guarantee him victory.

 

 

(Writing by Edmund Blair Editing by Jeremy Gaunt)

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South Africa to publish contested mining charter by March – minister

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By Wendell Roelf

CAPE TOWN (Reuters) – South Africa will publish its revised Mining Charter by next month, a minister said on Monday, bringing closer legislation meant to redress racial economic inequality but which has concerned companies struggling with lower commodity prices.

A separate Mineral and Petroleum Resources Development Act will be finalised by June, proposing to give the state a 20 percent free stake in new energy projects and the ability to buy further shares.

The Mining Charter was introduced in 2002 to increase black ownership of the mining industry, which accounts for around 7 percent of South Africa’s economic output.

However, industry body the Chamber of Mines, has taken the government to court over ownership interpretations in the latest draft, which requires companies to keep black ownership at 26 percent even if black shareholders sell their stakes.

“We are not challenging the charter. We are fully supportive of the entire transformation journey, but we just need the rules to be absolutely clear to make sure we don’t end up making targets that are unobtainable but are pragmatic and realistic,” said Roger Baxter, chief executive of the Chamber of Mines.

In a separate court case, a local law firm is challenging the entire Mining Charter, arguing it is unconstitutional.

The new charter, which was revised in 2010 as part of a consultative approach to regulations, also requires companies to provide housing and other amenities in mining communities, many of which are mired in poverty and neglect.

“If government goes ahead and implements the charter in its current form it will be very unfortunate, because it would have a pretty dramatic effect on investment in mining in South Africa,” said Peter Leon, a partner at law firm Herbert Smith Freehills African practice.

South Africa is the world’s top platinum producer and has a significant gold industry but firms are struggling with depressed prices, rising costs and bouts of labour unrest.

“For investors, it goes without saying that regulatory certainty and the sanctity of private ownership under the constitution is paramount,” Anglo American Chief Executive Mark Cutifani told delegates at a mining summit in Cape Town.

Mining companies say they were not consulted in the latest draft but Minister of Mineral Resources Mosebenzi Zwane denied this and sought to reassure investors.

“We have consulted extensively with stakeholders,” Zwane said in a speech at the opening of the summit.

“We call upon investors to come to South Africa and engage us frankly as we move towards transformation of our economy. We will continue to have an open door policy.”

With rising unemployment, the ruling African National Congress is under increasing pressure to address gaping inequality that persists 23 years after the end of apartheid.

Black South Africans make up 80 percent of the 54 million population, yet most of the economy in terms of ownership of land and companies remains in the hands of white people, who account for around 8 percent of the population.

(Additional reporting by Zandi Shabalala, Ed Stoddard and Barbara Lewis; Writing by Joe Brock; Editing by James Macharia and Susan Thomas)

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Trading giant Glencore extends major Libyan oil deal: sources

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By Julia Payne and Ahmad Ghaddar

LONDON (Reuters) – Swiss-based commodities giant Glencore has extended a deal with Libya’s state oil firm to be the sole marketer of one third of the country’s current crude oil production, sources familiar with the matter said.

It was not clear for how long Glencore would continue to have exclusivity over the output and whether some parts of the deal would be renegotiated.

The deal extends Glencore’s dominance over rivals such as Vitol and Trafigura in handling barrels from the North African country for a second year running.

A spokesman for Glencore declined to comment. Officials at Libya’s state-owned National Oil Corp. (NOC) also declined to comment.

Libya has struggled for years to end a crippling blockade of its oil ports amid a civil war and Islamic State intrusions. Between security fears and erratic supply, refiners eventually stopped attempting to buy from the North African country.

With a dwindling revenue stream, NOC needed an intermediary that was comfortable managing the risks, able to market the oil globally and pay cash upfront for the cargoes.

Glencore snapped up the opportunity in September 2015 to resell the only relatively stable onshore output – from the Sarir and Mesla oilfields loaded at the country’s easternmost Marsa el-Hariga port. Libya’s small offshore production also continued.

Since 2015, the trader has been the only company able to buy Sarir and Mesla crude output directly from Libya’s NOC and is expected to continue as NOC has largely finalised its 2017 allocations.

Libya’s production has recovered to around 700,000 barrels per day (bpd) and NOC hopes output will rise to 1.2 million bpd by the end of the year.

“It is a big mosaic at the moment, but Glencore has kept a large chunk of the trade,” one of the sources said.

Glencore’s deal entitles it to around 230,000 bpd from the Sarir and Mesla oilfields, the sources added. It also regularly delivers crucial refined fuel as Libya’s refining system operates well below capacity. Glencore trades about 4.4 million bpd of crude and refined products.

Vitol and Petraco have also been picking up cargoes but on a small scale, and producers with stakes in oilfields in the country such as Total, Repsol, OMV have returned to loading tankers, as have buyers such as Unipec, the trading arm of China’s state-owned Sinopec.

 

(Additional reporting by Dmitry Zhdannikov; Editing by Mark Potter)

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Zimbabwe to double ferrochrome production to 300,000 tonnes

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HARARE (Reuters) – Zimbabwe’s ferrochrome production is expected to double to 300,000 tonnes this year after the government allocated chrome concessions to small mining companies as part of efforts to boost output, the mines minister said on Thursday.

Walter Chidhakwa said last year the country earned $115 million from 149,000 tonnes of ferrochrome, which is used in the production of stainless steel.

Zimbabwe holds the world’s second largest deposits of chrome, which is smelted to produce ferrochrome. Raw chrome exports are expected to reach 550,000 tonnes from 285,000 tonnes, the mines minister told reporters.

“We are projecting 300,000 tonnes of ferrochrome for 2017 as a result of the measures we have taken in allocating the chrome concessions,” Chidhakwa said.

Zimbabwe is pushing large mining companies to give up part of their concessions for distribution to individuals and smaller mines, which has helped in the gold sector, where small scale miners have tripled output to over 8 tonnes since 2014.

The government has accused the two biggest ferrochrome companies of underutilising concessions and last April forced the biggest producer Zimasco, to give up half of its 46,000 hectares in mining claims.

Chidhakwa said the government was still negotiating with Zimbabwe Alloys, the second biggest producer, to also give up half of its mining areas.

 

(Reporting by MacDonald Dzirutwe. Editing by Jane Merriman)

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Nigeria takes bids for oil-for-fuel swaps of up to 800,000 bpd in 2017

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ABUJA (Reuters) – Nigeria’s state oil company received 128 bids from companies that want to exchange processed fuels for as much as 800,000 barrels a day of unrefined crude in 2017, it said on Thursday.

“This year’s programme for DSDP (direct sale of crude oil and direct purchase of products) is about 800,000 barrels (per day) at most,” Maikanti Baru, head of the Nigerian National Petroleum Corporation (NNPC), told reporters in Abuja after the bidding window had closed.

In exchange for the crude oil, Nigeria will take fuel with sulphur content of no higher than 50 parts per million (ppm), he said. Environment Minister Amina Mohammed has promised the country would require the 50 ppm level for imports from July 1.

Last year the OPEC oil producer had replaced crude oil swap deals with a system under which it will directly sell crude oil to refiners and purchase refined oil products from them.

Nigeria is almost wholly reliant on imported gasoline, kerosene and other petroleum products despite exporting 1.7 million barrels per day (bpd) of crude oil.

 

(Reporting by Paul Carsten and Camillus Eboh; Additional reporting by Libby George in London; Writing by Ulf Laessing; Editing by David Goodman)

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South Africa’s private sector expands at slower pace in January

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JOHANNESBURG, Feb 3 (Reuters) – Activity in South Africa’s private sector remained in growth territory in January but dipped from December as demand for exports sank, a survey showed on Friday.

The Standard Bank Purchasing Managers’ Index (PMI), compiled by Markit edged down to 51.3 from 51.6, remaining above the 50 mark dividing expansion from contraction for a fifth consecutive month.

“January’s expansion in economic activity extended December’s trend, further supporting the idea that domestic growth may have troughed,” said economist at Standard Bank Kuvasha Naidoo.

Companies surveyed reported a marginal increase in new business and output in January, but that was countered by a decrease in exports, with some firms citing the loss of major international contracts.

“Exports continued to suffer, recording an accelerated pace of contraction… This was while overall demand continued to expand, albeit at a slower pace,” Naidoo said.

Trade data published by the revenue service on Tuesday showed exports down 6.1 percent month-on-month in January, while subdued consumer and business confidence dampened imports as low activity continued to strangle growth in Africa’s most industrialised economy.

The South African Reserve Bank (SARB) last week lowered its economic growth estimates to 1.1 percent for 2017 and 1.6 percent for 2018.

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South Africa’s rand firmer, stocks set to open lower

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JOHANNESBURG (Reuters) – South Africa’s rand firmed against the dollar early on Thursday as the greenback slipped after the U.S. Federal Reserve stuck to its mildly upbeat economic view but gave no hint of accelerating rate hikes.

* At 0645 GMT, the rand traded at 13.3775 per dollar, 0.76percent firmer from its New York close on Wednesday. * The dollar index, which tracks the greenback against abasket of six major rival currencies, fell 0.15 percent to99.496. * The Federal Reserve on Wednesday held interest ratessteady in its first meeting since U.S. President Donald Trumptook office. * While painting a relatively upbeat picture of the U.S.economy, the Fed gave no firm signal on the timing of its nextrate move with the economic impact of Trump’s policies yet to beseen. * Stocks were set to open lower at 0700 GMT, with the JSEsecurities exchange’s Top-40 futures index down 0.6 percent. * In fixed income, the yield for the benchmark governmentbond due in 2026 dipped 1.5 basis points to 8.845 percent.

 

(Reporting by Olivia Kumwenda-Mtambo; Editing by Biju Dwarakanath)

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Gold miner Centamin to pay about $100 mln to Egypt in 2017

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CAIRO (Reuters) – Centamin, the operator of Egypt’s only commercial gold mine, expects to pay about $100 million during its first full year of profit sharing with the government in 2017, subject to the price of gold, the company told Reuters on Wednesday.

Centamin achieved production of 551,036 ounces in 2016, a 26 percent increase from a year earlier and that it was proposing a final dividend of 13.5 cents per share for the year, CEO Andrew Pardey said.

 

(Reporting by Eric Knecht, editing by Louise Heavens)

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South African mineworkers’ union vows coalmine strike in “coming weeks”

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JOHANNESBURG (Reuters) – South Africa’s biggest union of mineworkers plans to launch a strike in coal mines in the “coming weeks” over the structure of industry wage talks, its spokesman, Livhuwani Mammburu, said on Wednesday.

The National Union of Mineworkers is opposed to the coal companies’ intention to negotiate wages on an individual basis, rather than collectively under the Chamber of Mines, an employer industry body.

 

(Reporting by Ed Stoddard; Editing by Clarence Fernandez)

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Nearly 30 firms express interest in South Africa’s nuclear project: Eskom

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JOHANNESBURG (Reuters) – South Africa’s state utility Eskom said on Wednesday that 27 companies, including France’s EDF and China’s State Nuclear Power Technology, have shown preliminary interest in the country’s plans to build more nuclear reactors.

The government has not yet said when the official tender for the project will take place, but Eskom in an initial step requested in December that interested companies come forward and say they would be willing to provide information on nuclear power costs and financing options.

South Africa, which has Africa’s only nuclear power station, has earmarked nuclear expansion as the centrepiece of a plan to increase power generation to ease the country’s reliance on an ageing fleet of coal-fired plants and has asked Eskom to procure an additional 9,600 megawatts (MW) of capacity.

Eskom said in December that the information provided by interested companies would be used to finalise its submission to the government on the matter and ensure transparency.

The companies that expressed interest also include Russia’s Rosatom and South Korea’s Korea Electric Power Corp (KEPCO), Eskom said in a statement.

“Eskom is looking forward to the information supplied to confirm our understanding of the key issues that impact the timing and affordability of a nuclear programme,” Eskom’s interim Group Chief Executive Matshela Koko said in the statement.

Critics of the plan have raised questions about environmental risks and costs.

Companies have until April 28 to provide their information.

 

(Reporting by Nqobile Dludla; Editing by Susan Fenton)

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