Southern Africa

Kumba Iron Ore, South Africa, said Thursday that it expected its full-year profits to increase by up to 23% due to higher mineral prices and sales volumes. Kumba, an Anglo American unit, expects to earn between $1,39 billion and $15,33 billion ($862,55 million-$951,29 million) in the year ending December 2025. This compares with the 12.5 billion rand earned the year before. Africa's largest iron ore producer said that the increase in earnings was due to the higher average free-onboard export iron ore prices of $95 per metric tonne in 2025. This is up from $92 a metric tonne the previous...

The Transport Minister stated on Sunday that the South African government and Transnet, a state-owned logistics company, are exploring new ways to encourage private investment into the country's failing freight rail network. Transnet struggles to provide adequate rail freight and port services due to equipment shortages, maintenance backlogs and rampant cable theft. In a televised address, Transport Minister Barbara Creecy stated that the limited availability of resources from the state to fund infrastructure and to deal with backlogs have intensified these challenges. This has severely restricted state-owned entity's ability to fulfill their mandates. She said that the RFI is focused...

The port operator reported that Maputo's biggest port saw a 1% drop in volume in 2024, mainly because of post-election protests which forced the closure of borders and roadblockages. After a disputed vote on Oct. 9, Daniel Chapo's Frelimo Party, which has been ruling Mozambique in its current form since 1975, won the election by a narrow margin, protests by the opposition erupted across this southeast African nation. More than 300 people have died in the unrest after a crackdown carried out by security forces. Maputo Port Development Company's (MPDC) statement said that the port volume for 2024 fell to...

The railway that runs through the Lobito corridor in Angola, which is a critical?source for minerals such as copper and 'cobalt, was forced to suspend operations on Sunday due to flooding caused by nearby rivers. Heavy rains have flooded bridges across the Halo River between Cubal Station and Caimbambo Station, as well as a bridge crossing the Cavaco river near Benguela. In a press release, it stated that "as a consequence, rail traffic is suspended indefinitely" on the affected sections. Angola granted the Lobito Atlantic Rail - a consortium consisting of Trafigura Mota-Engil Vecturis SA, a 30-year-long concession to operate...

The operator of the Maputo harbour said that the port will handle a record 32 metric tons of cargo by 2025. This is due to the increased freight rail volumes and the expanded capacity. In a press release, the Maputo Port Development Company (MPDC), which manages bulk shipments such as coal, chrome ore, and iron ore, as well as agricultural products, said that volumes increased?from 30.9 millions metric tons in 2020. This figure was the previous record. Official data shows that cargo through Maputo grew by 52% in 2019 from 21 million tons, underscoring its growing role as a regional...

Kumba Iron Ore, South Africa, reported on Tuesday a 12% rise in mineral shipped to ports in the third quarter of the year on the backs of improved freight rail performance. This led to a 7% increase in quarterly sales. Anglo American delivered 10,2 million metric tonnes to Saldanha Port in the third quarter. This compares to 9,1 million metric tonnage during the same time period last year. Kumba's sales totaled 9.6 million tons during the third quarter. This is up from 9 million tons. Kumba, Africa’s largest iron ore mining company, stated in a recent production update that improvements...

Transnet's CEO announced on Thursday that a South African court had ordered China's CRRC E-Loco, which has been in a long-running dispute with Transnet, to release locomotive parts it had refused to provide. This decision is a boost to the plans of Transnet to improve its performance. Both parties are involved in a legal battle after Transnet halted 1,064 locomotives supplied by four original equipment manufacturers, including CRRC E-Loco. Transnet claimed that contracts for 2014 worth $54.4 billion rand (3.18 billion dollars) were illegally awarded by previous company leadership. Transnet reported that in 2023 161 locomotives provided by CRRC E-Loco...

A U.S. Diplomat said that despite the aggressive spending cuts of President Donald Trump, the United States is committed to funding the Lobito Rail Corridor, which will help transport vital minerals from central Africa's copperbelt into the West. The U.S., through the International Development Finance Corporation (IDFC), set up in Trump's first year in office, has pledged $550 million in loan support for Lobito. Lobito is seen as a key component in countering Chinese control of copper and cobalt in the region. Trump's cuts in spending had caused concern for projects like Lobito, which plans to go to Angola and...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. Headlines - Denmark's Maersk buys Panama Canal railway Deutsche Bank's asset management manager fined 25 Million Euros over greenwashing scandal Steve Buck is named as the new Chief Financial Officer of Thames Water Greencore signs 1.2 billion pound deal with Bakkavor, a UK rival in the ready-meal market View the full article Canadian Pacific Kansas City and Lanco Group, based in the United States, have sold the Panama Canal Railway Company (PCRC) to a Danish Maersk unit. Maersk...

Transnet, the South African logistics company, said that its rail freight volume could reach between 160 and 165 millions tons by March. This is ahead of last years' figures but below a target of 170 million tons set in its recovery plan. After years of underinvestment in the group, equipment shortages have caused maintenance backlogs. Cable theft and vandalism are also damaging the network. Michelle Phillips, CEO of the company, told a panel during Africa's annual Mining Indaba conference in Cape Town about the recovery of rail volumes. Phillips stated that "you'll notice that we're 9 million tons ahead of...

South32 has withdrawn its output forecast for its Mozal Aluminium smelter in Mozambique amid postelection civil unrest, the Australian company said on Tuesday. October's challenged election outcomes triggered protests from opposition supporters and there has been intensifying violence considering that. South32, which has a 63.7% stake in the Mozal Aluminium smelter, stated the discontent had actually caused road clogs that have hampered the delivery of raw materials to the plant. It had actually formerly estimated output of 360 kilotonnes from the smelter this. The job contributed about 28%. of South32's overall aluminium output in financial 2024. South African mining business...

Takealot, South Africa's greatest pureplay online merchant, on Wednesday opened its 3rd distribution centre in the seaside province of KwaZuluNatal, as it seeks to provide faster shipments in the nation's 2nd most populated region. The e-commerce giant, owned by tech financier Naspers has actually been running in KwaZulu-Natal (KZN) for over a. decade however satisfying orders through its other warehouses. The centre is a tactical improvement of our delivery. network to much better service individuals of the province, Frederik. Zietsman, CEO of Takealot Group said in a declaration. Found in the seaside city of Durban, the facility covers. 43,000 square...

As ecommerce continues to grow in South Africa, lastmile delivery van and vans are significantly ending up being prime targets of hijacking distributes, driving up security expenses for these business, executives stated on Thursday. Brand-new global entrants to the market like U.S. e-commerce giant Amazon.com and fast-fashion online retailers Shein and Temu have actually also intensified the competition for a greater share of online wallets. Logistics trucks transferring products in bulk and parcel delivery vans are investing an absolute fortune on security, consisting of expenses for employing security to escorts these lorries on the roadway, Craig Pitchers, CEO of privately-owned...

Zimbabwe's stateowned railway operator has actually opened its network as much as private gamers, including an unit of South Africa's Grindrod, as it looks for to enhance freight volumes that had actually collapsed after decades of underinvestment, an authorities stated. National Railways of Zimbabwe hauled 12 million lots of cargo yearly at its 1990s peak, now handles less than 3 million loads owing to a lack of engines and bad upkeep of its rail infrastructure. The collapse also followed a sharp decrease in agricultural and mineral output, activated by the violent seizure of white-owned farms promoted by Zimbabwe's former leader...

The government of the Democratic Republic of Congo is opposed to a proposal by Chemaf SA to sell its copper and cobalt mines in the country to China's. Norin Mining, according to a document seen . Chemaf, a veteran partner of products trader Trafigura,. said in June it had actually consented to offer its mines in Congo to the. unit of Chinese state-backed defence and industrial giant, China. North Industries Corp (Norinco). Chemaf put itself up for sale in 2015 due to a cash crunch. that was stalling the expansion of its Etoile and Mutoshi. projects in Congo as cobalt...