Mining companies operating in Zimbabwe and the main labor union in the industry have reached a deadlock in pay talks for 2014 after the workers group demanded that wages be more than doubled, two people familiar with the negotiations said.
Zimbabwe’s planned sovereign wealth fund may get as much as a quarter of mining royalties and the same share of “special dividends” on state mineral and metal sales. Parliament will also be able to appropriate money to benefit the fund.
Uranium mines operated by companies including Rio Tinto Plc and Paladin Energy Ltd. in Namibia face a water shortage as a drought in the southwest African nation curbs supply to the operations and three coastal towns.
President Robert Mugabe is considering raising finance through measures ranging from establishing a sovereign wealth fund to borrowing money from the so-called BRICS nations to revive Zimbabwe’s economy.
Antonio Castigo watched four men armed with Kalashnikov assault rifles grab a woman by the hair and bundle her into a car after she dropped her kids off at the Portuguese school in Mozambique’s capital, Maputo.
Madagascar presidential candidate Jean Louis Robinson will compete in a run-off against former Finance Minister Hery Rajaonarimampianina after no candidate scored sufficient votes for an outright majority.
As part of cost cuts at Suncor Energy Inc., Chief Executive Officer Steve Williams has scrapped items such as a C$11.6 billion ($11 billion) oil-sands plant. Now, he’s looking at savings from mining with robot trucks.