The Editorial Team |

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

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

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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

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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

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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…

Kenya Airways Keeps Delisting Option Open to Protect Finances

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NAIROBI (Capital Markets in Africa) – Kenya Airways Plc may revisit plans to delist from the Nairobi Securities Exchange as the loss-making carrier proceeds with a recovery strategy. The withdrawal of Africa’s third-biggest airline from the bourse was an option considered by the company during last year’s financial restructuring but was dropped, chiefly to protect minority shareholders, according to Chairman Michael Joseph. “There are no concrete plans to delist at the moment,” he said in…

Emerging-Market Volatility Bets Rise as Trade War Rattles Yuan

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LAGOS (Capital Markets in Africa) – Emerging markets may be headed for a period of increased volatility as the midyear lull saps liquidity and the U.S.-China dispute leaves traders struggling to decipher the yuan’s likely direction. Chinese, Taiwanese and Philippine trade data for July this week will give an indication of whether the trade tension is starting to weigh on regional exports. The standoff has already prompted BlackRock Inc., the world’s largest asset manager, to trim its holdings…

South Sudan Rivals Sign Deal Seeking to End Five-Year War

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SOUTH SUDAN (Capital Markets in Africa) – South Sudan’s warring parties signed a peace deal granting rebels key positions in a transitional government, the latest bid to end an almost five-year conflict that’s claimed tens of thousands of lives. The accord will restore rebel leader Riek Machar as President Salva Kiir’s deputy, while appointing four other vice presidents and adding new posts for ministers and lawmakers. Following the collapse of a similar pact in July 2016, it will…

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