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SOUTH AFRICA: Looking to 2020 and beyond a Moody’s downgrade

  • Date: 27-12-19
  • Category: SOUTH AFRICA
  • Source: Business Tech

It’s unlikely that South African fiscal policy will be enough by early 2020 to convince Moody’s not to downgrade the country’s sovereign credit rating to junk status.

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SOUTH AFRICA: Ramaphosa’s early progress has been structural and subtle

How well Cyril Ramaphosa has done as South Africa’s president since the African National Congress party won the country’s May 2019 general election depends on whether his performance is assessed through a political or economic lens.

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AUTO PRODUCTION: Volkswagen to hit 1m electric cars milestone two years early

Volkswagen has accelerated its push into electric cars, as company forecasts suggest the world’s largest carmaker will produce its millionth battery electric vehicle two years earlier than previously planned.

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RAND: South Africa’s rand steady as gold gains lift stocks

  • Date: 25-12-19
  • Category: Rand
  • Source: Business Recorder

An interim trade deal between the United States and China and bets of further gains in the rand helped the South African currency hold its ground on Tuesday, while a rising gold price supported stocks, which closed higher.

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PGM PROJECTS: Environmentalists win new review of Twin Metals mine impact

  • Date: 24-12-19
  • Category: PGM PROJECTS
  • Source: Star Tribune

Environmentalists trying to stop a controversial copper-nickel mine near the Boundary Waters Canoe Area Wilderness in northern Minnesota won a partial victory in a massive federal spending bill that includes a provision for a new study of potential water pollution from the project.

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PGM PROJECTS: Noront Announces Debt Extension and Royalty Sale and Provides Additional Updates

  • Date: 23-12-19
  • Category: PGM PROJECTS
  • Source: Junior Mining Network

TORONTO, Dec. 23, 2019 (GLOBE NEWSWIRE) -- Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) has extended the terms of its current debt facilities with Franco-Nevada Corporation ("Franco-Nevada") and Resource Capital Fund V L.P. ("RCF V"). The Company’s loan with Franco-Nevada has been extended to September 30, 2022 and the maturity of its convertible debenture with RCF V has been extended to September 30, 2021.

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ESKOM: Cosatu’s plan to save Eskom without losing jobs

  • Date: 21-12-19
  • Category: ESKOM
  • Source: Business Tech

South Africa’s biggest labour group is proposing that more than half the debt of state-owned Eskom Holding SOC Ltd. be put into a special purpose vehicle to help save the utility and avoid job cuts.

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AUTO SALES: Commercial vehicle registrations: +2.2% 11 months into 2019; -8.9% in November

  • Date: 20-12-19
  • Category: AUTO SALES
  • Source: ACEA

In November 2019, commercial vehicle registrations fell again (-8.9%), marking the third consecutive month of decline across the European Union.

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