Weekly news

21/05/2010 to 25/05/2010


Chinese buy control of Wesizwe- Business Day (ZAF)
Junior miner Wesizwe Platinum said yesterday it had secured an $877m (R6,6bn) financing package from Chinese investors, in a deal that will see the investors gaining a majority stake in the company.

Mulilo set for De Aar wind farm’s first phase- Business Day (ZAF)
Mulilo Renewable Energy, a local company which develops renewable energy products in southern Africa, is set to begin the first phase of a R1,7bn wind energy plant project at De Aar.

Brazil’s Vale to export Mozambican iron ore to China and Oman- Club de Mozambique (MOZ)

Vale Moçambique, a subsidiary of Brazil’s Vale group, will annually produce 1 million tonnes of iron concentrate when it begins exploiting mines in the Monapo district of Nampula province, reports the Maputo-based daily Noticias.

Continent ‘must rejig resources contracts’- Business Report (ZAF)
African states should consider renegotiating unfavourable contracts with multinationals to ensure they got a fair return on their natural resources, a joint Organisation for Economic Co-operation and Development (OECD) and African Development Bank study urged yesterday.

Chinese investment in Egypt offers job opportunities- FOCAC (CHN)

Chinese investment in Egypt offers local people with tens of thousands job opportunities, Abdel Gelil El-Fahkrani, governor of Ismailia, told Xinhua in a recent exclusive interview.

Jonathan Visits Zamfara Today- Daily Trust (NGA)

President Goodluck Jonathan will today commission the multi-million naira mineral processing industry in Gusau as part of his one-day official visit to Zamfara.

Wuhan Steel gets green light for Africa ventures- FOCAC (CHN)
China’s third largest steelmaker Wuhan Iron and Steel Group on Monday received approval from the National Development and Reform Commission (NDRC) for two overseas acquisition deals in Africa that are expected to contribute nearly 2 billion tons of iron ore deposits.

The multibillion dollar oil deal with China- Guardian (NGA)
It has been widely reported that on May 14, the Nigerian government represented by the Nigerian National Petroleum Corporation (NNPC) signed a $23 billion Memorandum of Understanding (MoU) with the China Construction Engineering Corporation Limited for the construction of three brand new petroleum refineries and a petrochemical complex in Nigeria.

Another Lesson From China- This Day (NGA)
Last week’s conviction and sentence of Huang Guangyu, one of the richest men in China, has again brought to the fore the need to strengthen Nigeria’s justice system in order to bring those who contravene the law, especially the rich, to book.

Korean trader held over ivory haul- Daily Nation (KEN)


A Korean who operates gambling businesses in Nairobi is in police custody in connection with illegal ivory trade. He was arrested hours after police impounded a lorry ferrying 48 elephant tusks and seven tonnes of sandalwood.

Military ties to help Africa develop- FOCAC (CHN)
Chen Bingde, Chief of the General Staff of the People’s Liberation Army (PLA) and commissioner of the Central Military Committee, will visit Namibia, Angola and Tanzania later this month on the invitation of the armed forces of the three countries.

Cameroon, China relations example for Sino-Africa co-op: president- FOCAC (CHN)
The Cameroonian President Paul Biya on Friday said that the relations between China andCameroon are examples for Sino-Africa cooperation.

African cultural activity kicks off in Beijing- FOCAC (CHN)

A Chinese-African cultural exchange program — African Cultures in Focus 2010 — kicked off here Thursday, unveiling a series of cultural activities to be showcased to Chinese audiences.

General Hospital for Teshie to be ready in October- Ghana Web (GHN)

Work on the 100-bed General Hospital at Teshie is expected to be completed by October this year. President John Evans Atta Mills, cut sod for work to begin on the 10-million-dollar project being financed by Chinese Government in April last year.

Govt Throws Out Zisco Bids- The Herald (ZWE)
Government has thrown out the six bids for its stake in the Redcliff-based Zimbabwe Iron and Steel Company and is now keen to consider new bids from small to medium steel companies.

Chinese auto group sets out growth stall after surviving 2009 recession- Engineering News (ZAF)
There were 24 Chinese vehicle brands present in South Africa in February 2008, either trading or in the process of homologation, says Great Wall Motors South Africa (GWM SA) MD Henri Meistre. However, following the brutal recession of 2009, only six or seven remain standing. 


Respect Women, Says President- The Herald (ZWE)

Society should appreciate women’s contribution to community and national development, President Mugabe has said.

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