US Probes Chinese Oil Firm, Sinopec, Over $100m Bribe Paid to Nigerians

AUGUST 31, 2017 The US government is investigating China Petroleum and Chemical Corporation, Sinopec, over an alleged $100 million  bribe paid to some Nigerian officials. According to Bloomberg, the bribe was aimed at resolving a $4 billion business dispute between the company’s Addax Petroleum unit in Geneva and the Federal Government. The dispute is said…

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First Quantum Minerals’ Global Operations and the Fate of Mining in Zambia

Introduction First Quantum Minerals (FQM), which has operating mines in Australia, Zambia, Mauritania, Turkey, Spain and Finland, is also developing two other projects in Latin American — Haquira in Peru and Taca Taca in Argentina. This piece seeks to shed some light on the Vancouver, Canadian miner, its operations and deep embeddedness in Zambian politics…

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Will Zambia Finally Stand Up to the Electricity Tariff Blackmail by Foreign Mining Companies?

Since the early 2000s, Zambia has moved from an interventionist, economic nationalist policy tradition to a business-friendly country, although with occasional populist rhetoric and threats to FDI that fizzle out after each presidential election. This cycle of empty threats that has left foreign mining companies earn super profit without the country’s rich mineral resources contributing…

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Balance of Power in Global Energy Security: Changes and Vulnerabilities

The changing balance of power in global energy security As Asia’s oil demand grows, its dependence on imports brings vulnerabilities Nick Butler © Reuters The centre of gravity of the global energy economy has shifted. Demand and therefore trade have shifted from the Atlantic Basin to the Pacific. The immediate implications are obvious: the oil…

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Corporate South Africa: Corrupt, Exploitative & Ways Out

South Africa is reeling from a string of scandals involving state owned enterprises and the Guptas, a family with close ties to President Jacob Zuma. A trove of recently leaked Gupta emails exposed the involvement of prominent businesses in the extensive corruption networks. Sibonelo Radebe asked Mills Soko to explain the implications of the scandals. What do you make of the situation? If nothing…

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Brace for Labor Unrest as AngloGold Ashanti and Sibanye Gold Retrench Thousands of South African Miners 

4TH AUGUST 2017 BY: AFRICAN NEWS AGENCY JOHANNESBURG – The National Union of Mineworkers (NUM) is set to embark on a protest march to AngloGold Ashanti’s head office in downtown Johannesburg on Saturday. NUM spokesperson, Livhuwani Mammburu, said the march was against the company’s decision to issue a Section 189 process notice to retrench 8 500 workers at its operationsin the Matlosana and Carletonville regions. In…

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