Few people in the mining industry are as bullish on South Africa as Anil Agarwal, the enigmatic chairman of London-listed Vedanta Resources. The Indian mining tycoon, who has a more than 20% stake in Anglo American, is always effusive in his praise for the South African mining sector – almost to the point where one wonders if he inhabits some parallel universe.
Speaking to Reuters last year, Agarwal said he had convinced Anglo management not to sell off South African assets such as Kumba Iron Ore – which, incidentally, is now making money and rewarding its investors with rich dividends. In February, at the opening of Vedanta’s Gamsberg zinc operation in the Northern Cape, he said he liked doing business in South Africa, where he could get a mining licence “without taking someone to dinner.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Eskom `Is Not on the Brink of Financial Collapse,’ Gordhan SaysSouth Africa’s state-owned power utility “isn’t on the brink of financial collapse” and the government has the problem “well under control,” Public Enterprises Minister Pravin Gordhan said. Agreed. It is WAY beyond that already. Had it not been for its corrupt benefactor .............🤔
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Tanzania denies blocking release of scathing IMF reportTanzania on Tuesday denied blocking the publication of a critical International Monetary Fund report that accuses President John Magufuli's government of undermining economic growth with 'unpredictable and interventionist' policies.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Cartoon Friday: Rico
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Musk Makes Self-Driving Technology Tesla’s Costly New CallingTesla Inc.’s calling used to be bringing affordable electric cars to the masses. Elon Musk is now ripping up the script, vowing to pair self-driving technology with a sharing service that will make it crazy for consumers to buy other cars.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: China, South Africa and the middle-income trapChina and South Africa seem so distant and so different. Chinese economic growth has been fabulous; over the past decade, South Africa’s has been miserable. China is enormous; SA is small… and so on. But in one singular respect, China and South Africa are similar — they may be both caught in the middle-income trap. If there is such a thing.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Impact investing could bridge the socialist/capitalist divideA conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Thursday April 25: Five Things You Need to Know to Start Your DayFacebook and Microsoft deliver solid results, Goldman may have to plead guilty over 1MDB, and Boeing’s chief insists the 737 Max will be one of the safest airplanes ever to fly. Here are some of this morning’s key stories.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Devil’s in the detail as government toys with regulating AirbnbEchoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Shoprite’s R3.3bn payout proposal to Christo Wiese could easily be voted downWhen a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite’s proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it’s a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal. The deal could very easily fail. Former Steinhoff Chairman Christo (I know nothing, I am the victim) Wiese who presided over the biggest financial disaster in SA, should all his assets frozen NOW. It will be immoral not to vote this down, otherwise you are all accomplices
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Saudis Pledge to Ensure Oil Supply if Iran Exports CollapseSaudi Arabia will coordinate with other crude producers to ensure that adequate supplies are available and the market “does not go out of balance,” Energy Minister Khalid Al-Falih said, after the U.S. ended waivers for buyers of Iranian oil.
Source: dailymaverick - 🏆 3. / 84 Read more »