ZIMBABWEAN Government ministers have been accused of corruptly aiding Chinese companies to buy cotton off local farmers contracted by local investors. Court documents show that cotton producers are taking steps to stop a Chinese firm from using political muscle to clandestinely purchase cotton from farmers contracted by local industry. Zimbabwe Independent.
CANADIAN mining firm, Dandee Precious Metals (DPM), will pour at least US$ 32 million into the Tsumeb Copper Smelter (TCS) following its acquisition of the company, which has been experiencing financial woes.
Zimbabwe’s national airline, Air Zimbabwe, has reportedly secured a deal with French aviation giant Airbus for the supply of two Airbus A340-600 long haul passenger jets and one Airbus A319 jet to replace its aging fleet of Boeing 737 jets scheduled to retire in 2011.
THE Namibian Government has said it will only negotiate for the full implementation of an Economic Partnership Agreement (EPA) with the European Union if the best interests of Namibian industry are represented.
WINDHOEK: SOUTHERN African Development Community (SADC) member states have taken different platforms in negotiating for their engagement with the European Union for the implementation of the full Economic Partnership Agreements (EPAs)
WINDHOEK- Angola’s diamond industry is on the mend, as prices of gems begin to rise gradually, following a battering of the mining sector brought about by the global economic downturn.
WINDHOEK: THE Namibian government is calling for legislation to reduce the dominance of multinationals in the allocation of tenders for major capital projects and increase the involvement of locals in business and mining activities.
The African Development Bank (ADB) has said Zimbabwe must clear its arrears with international lending institutions before it can benefit from available funds. ADB deputy president Aloysius Ordu told journalists in Harare Monday that Zimbabwe’s debt of about US$6 billion was “too huge” and should be cleared before the troubled southern African country could access new money.
Namibia is in the dark about a reported decision by Zimbabwe to stop the export of electricity to Namibia, maintaining “it is business as usual” and that the export arrangement between the two countries remains in place. NamPower’s Managing Director, Paulinus Shilamba, got a New Year surprise from Zimbabwe when that country’s independent online news agency, Zim Online, reported that the Zimbabwean Minister of Energy, Elias Mudzuri, has ordered the Zimbabwean Electricity Supply Authority (ZESA) to stop exporting power to Namibia because the Hwange power station is not working properly.
It now looks for sure that China, in 2009, overtook India as the world’s largest gold consumer. The ‘Middle Kingdom’ had already surpassed South Africa and the U.S. as the world’s largest gold miner a year earlier. Latest figures out of Beijing suggest that gold demand in China grew by an estimated 13.8% to around 450 tonnes in 2009, while India’s estimated consumption last year is put at only around 210 tonnes – about half its consumption level in 2008. Much of the disparity last year was due to a decline in Indian buying as purchasers were put off by higher prices.
