The Editorial Team |

Goldman Sachs says Bitcoin will continue to decline

LAGOS (Capital Markets in Africa) – Despite headline-making plans to open a bitcoin trading desk earlier this year, Goldman Sachs still isn’t sold on the virtual currency. In a midyear economic-outlook report, the bank’s investment strategy group says the price of bitcoin is likely to decline even further than the 45% it has in the first seven months of 2018. “Our view that cryptocurrencies would not retain value in their current incarnation remains intact and, in fact, has been…

Armed Security Agents Deploy at Nigeria Houses of Parliament

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Armed Nigerian security agents temporarily blocked the entrance to the National Assembly in the capital, Abuja, amid heightening political tensions ahead of general elections in February. Legislators, reporters and staff were turned away by secret police officers wearing masks and their standard black uniforms as they tried to enter the complex on Tuesday. After a couple of hours, lawmakers were allowed in one by one, while reporters and staff…

What to Watch in Commodities: Trump Vs Iran, Glencore, USDA, BHP

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The temperature’s rising and events this week will help investors figure out how to profit, not get burned. On top of tensions with China, Donald Trump will turn up the heat on Iran as some sanctions snap back into place as a prelude to oil curbs. Get ready for an on-air riposte from counterpart Hassan Rouhani, who plans an address later Monday. These guys have prior on Twitter, so it’ll be a signal of how they…

World’s Top Miner Charges Into Cobalt as Battery Ambitions Grow

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – BHP Billiton Ltd., the world’s biggest miner, is advancing plans to add production of a key cobalt material used in rechargeable batteries to boost its exposure to the electric vehicle revolution. The Nickel West operation in Western Australia, aiming to sell 90 percent of its output to the battery sector by the end of next year, has had success with laboratory tests on adding production of cobalt sulphate alongside…

AFRICA INSIGHT: Next Debt Crisis Won’t Be China’s Doing

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – China has lent and will lend huge sums to African countries, creating concerns they are becoming too indebted. But rather than Chinese activity, which is increasingly a good thing for Africa, the bigger debt risk comes from Eurobonds issuance. Lending from China has risen, partly due to the Belt and Road Initiative. A narrower focus of this lending to support infrastructure projects will lift the continent’s debt-servicing capacity in…

Kosmos Energy Enters Gulf of Mexico with $1.225 Billion Acquisition of Deep Gulf Energy

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Kosmos Energy (NYSE/LSE: KOS) announced today that the company has entered into an agreement to acquire Deep Gulf Energy (“DGE”)1, a leading deepwater company operating in the Gulf of Mexico, from First Reserve and other shareholders for a total consideration of $1.225 billion, subject to certain adjustments. By acquiring DGE, Kosmos adds to its deepwater Atlantic Margin portfolio an established business with attractive assets and a strong record of growing…

Nickel Is a Bonus for Miners Chasing Cobalt Battery Bonanza

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Miners that can offer a two-for-one supply deal for battery makers — cobalt plus nickel — are aiming to win a bigger slice of the spoils of the global electric vehicle boom. The two metals are often found in the same deposits, creating an opportunity for miners, and a suite of previously overlooked projects, as nickel joins cobalt as an increasingly important battery material. But, the arrangement isn’t without risks, as…

« 1 … 463 464 465 466 467 … 1,077 »