{jcomments on}DAM, NY, AGNEWS, 17 décember 2010 – Ce mercredi, le Ghana a élargi la liste des nations exportatrices de pétrole en Afrique. Pour cette circonstance historique, le chef de l’Etat, John Atta Mills, a symboliquement ouvert les vannes du « Jubilee », un gisement off-shore découvert en 2007 et dont les réserves s’estimeraient à 1,8 milliards de barils.
BURUNDI :
RWANDA
Rwanda: MTN Mobile Money Hits Rwf7.5 Billion
Berna Namata 17 December 2010
MTN Rwanda says that transactions through the mobile money service have reached Rwf7.5 billion, with approximately 5,000 transactions carried out every day through the mobile operator’s service that enable users to transfer money electronically with their phones without having to move location.
The service dubbed “MTN Mobile Money” was officially launched in February this year.
“We have had a sustained growth since the launch of the service due to hard work we came up with a product that was well packaged in terms of pricing and which was working well. This was critical in terms of ensuring that people trusted the product,” Albert Kinuma, the Head of Mobile Money at MTN told Business Times.
Sending money through the service attracts a fee of Rwf250 for any transaction between Rwf1,500 and Rwf300,000 for somebody registered while the transaction cost MTN Mobile Money hits Rwf7.5b varies between Rwf600 to Rwf4,000 for somebody unregistered.
Rwanda’s largest mobile operator by market share says the service has managed to attract about 200,000 users and 286 agents across the country.
“These numbers are all above budget except for the number of agents, where we need to reach at least 300 agents,”Kinuma observed.
He added that Mobile Money transactions are dominated by people sending money for business or relatives.
Currently, the product in which MTN Rwanda invested over $2 million, also allows users to buy airtime once they have registered for the service.
Kinuma said the company is targeting to expand usage of the service beyond money remittance to allow clients from financial institutions such as MFIs to be able to pay loans and make savings deposits, transfer money from their savings account to their mobile money account.
“We need to diversify our service offering beyond money remittance; buying cash power, paying salaries.”
Though the mobile money transfer service -the first of its kind in the country, MTN says it is taking advantage of their wide network coverage to enhance access to financial
Rwandan opposition leader Ingabire denied bail
Fri Dec 17, 2010 By Kezio-Musoke David
KIGALI (Reuters) – Rwanda’s high court has rejected a bail application by opposition leader Victoire Ingabire, who is charged with threatening national security and public order, and extended her detention, the Prosecutor General’s office said on Friday.
Ingabire was also charged in October with helping to form the Coalition of Democratic Forces (CDF), a militant group based in the Democratic Republic of Congo.
A statement issued by the prosecutor’s office welcomed the court’s decision not to free Ingabire on bail and to extend her pre-trial detention by 30 days.
A spokesman for the office said this was done to give other states time to act on formal requests for legal assistance from the Prosecutor General’s office.
“We are cooperating with the governments of the DRC (Democratic Republic of Congo), the Netherlands and Switzerland, who have received our formal requests,” said Augustin Nkusi.
On Monday, Dutch prosecutors confiscated material belonging to Ingabire from two houses in the Netherlands at Rwanda’s request.
The prosecution believes Ingabire wired money to members of the FDLR, a DRC-based Hutu rebel group, to help it wage war against Rwanda, Nkusi added.
Sylvain Sibomana, secretary general of the United Democratic Forces, Ingabire’s unregistered party in Rwanda, told Reuters Ingabire would remain in prison until the National Prosecution Authority had completed its preliminary probe into a dozen allegations and decided on which charges she would stand trial.
L’Allemagne prête à juger les chefs rebelles Rwandais hutus pour crimes
La justice allemande a annoncé ce vendredi vouloir juger pour crimes de guerre et crimes contre l’humanité, les chefs rebelles rwandais hutus du front de libération du Rwanda (FDLR), Ignace Murwanashyaka et son adjoint Straton Musoni, arrêtés fin 2009. La liste des exactions coordonnées depuis l’Allemagne par les deux responsables du FDLR contre des centaines de civils explique sans grande surprise la décision du parquet fédéral de Karlsruhe. Il s’agit de la première procédure de ce genre en Allemagne. Le procès, dont la date reste à fixer, est prévu à Stuttgart, rapporte RFI. VENDREDI 17 DÉCEMBRE 2010
http://www.afrik.com/breve26012.html
RDC –Congo
Les Pays-Bas annulent une dette contractée par la RDC
http://www.afrik.com/breve25979.html
Le gouvernement des Pays-Bas a déclaré jeudi à Kinshasa qu’il a annulé 400 millions de dollars dus par la République démocratique du Congo (RDC), dans le cadre de l’effacement de la dette au Club de Paris, rapporte Xinhuanet. L’ambassadeur néerlandais, Robert Van Embden, a notamment souligné au Premier ministre congolais, Adolphe Muzito, que son pays est prêt à aider la RDC à débuter l’année prochaine avec de nouveaux objectifs économiques. Il a reconnu les efforts du gouvernement congolais et a rappelé les bonnes relations qu’entretient son pays avec la RDC.
VENDREDI 17 DÉCEMBRE 2010
Germany charges Rwandans over Congolese atrocities
Dec 17, 2010,
Karlsruhe, Germany – Germany has charged two Rwandan nationals with crimes against humanity and war crimes carried out in the Democratic Republic of Congo, as well as membership of a terrorist organization, the Federal Prosecution Agency announced Friday.
The men, identified as Ignace M, aged 47, and 49-year-old Straton M, are accused of being ringleaders for the Forces Democratiques de Liberation du Rwanda (FDLR).
From their base in Germany, they allegedly orchestrated more than 200 murders, the rape of numerous women, the use of human shields and recruitment of child soldiers in DR Congo, between January 2008 and November 17, 2009.
They are charged with 26 crimes against humanity and 39 counts of war crimes, carried out by their subordinates in DRC.
The FDLR rebel group consisted largely of the ethnic Hutus who were responsible for the Rwandan genocide of Tutsis in 1994 and later fled to neighbouring DRC, the Federal Prosecution Agency wrote in a statement.
Ignace M is charged with being president of the FDLR from December 2001, while Straton M is accused of being the organization’s First Vice-President since June 2004.
Together with a man identified as Callixte M, who is being held by the International Criminal Court in The Hague, the men are accused of overseeing the procedures, strategies and tactics of the FDLR.
The FDLR’s aim was to overthrow Rwanda’s present-day government, the prosecution agency wrote, adding that they operated from eastern Congo, where they entrenched their position through regular, violent attacks on the local population.
‘The means by which the FDLR systematically secure their illegal regime of occupation include murder, assault, rape, sexual slavery, land seizure, robbery, arson, the arbitrary levy of road tolls as well as the exploitation of Congolese resources,’ the Federal Prosecution Agency wrote.
The accused were arrested on November 17, 2009, and have since been held in German custody. The charges were filed December 8, but only made public Friday.
UGANDA
Uganda Pension Fund Buys 40 Billion-Shilling Standard Chartered Bank Bond
17/12/2010 Par Jeune Afrique Dans une lettre à Paolo Scaroni, le PDG d’ENI, en date du 10 novembre, Hilary Onek, le ministre ougandais de l’Énergie, assure à son correspondant que sa demande d’entretien va être transmise au président Yoweri Museveni.
Une requête qui prouve que, malgré l’échec de ses négociations, en juillet, avec le propriétaire canadien Heritage Oil en vue du rachat de ses blocs d’exploration sur le lac Albert (finalement vendus à l’irlandais Tullow Oil), le groupe pétrolier italien n’a nullement jeté l’éponge. D’autant que la licence décrochée par Tullow arrivait à expiration le 7 septembre et que les autorités ne l’ont toujours pas renouvelée. Le litige opposant Heritage à Kampala quant au montant de la taxe que doit percevoir l’État sur la cession à Tullow du bloc d’exploration n’est en effet pas réglé.
Where are Ugandans in lucrative oil deals?
By Chris Obore (email the author) – Saturday, December 18 2010
Ever since oil deposits were discovered in Uganda a mixed buzz of excitement and anxiety has captivated the country. The expected petrodollars have brought new hope for millions of locals who now dream of tapping fortunes from the oil wells. But as Chris Obore finds out, these might only be daydreams:
The wish of locally owned companies to cash in the fledgling oil industry could turn out to be fantasy after it emerged that lucrative deals are going to foreign owned firms.
A senior government minister, however, said the hand-out of lucrative contracts to foreign firms could have been loaded with corruption while Energy ministry permanent secretary, Kabagambe Kaliisa said “Ugandans were sleepy for a long time.”
And Tullow Oil says “we are right at the forefront of promoting local content.”
The National Oil and Gas policy requires that local firms are given priority in the provision of services to the oil and gas exploration exercise. However, our investigations reveal that some foreigners have formed a chain of firms that are ‘winning’ to provide even the most basic services that ideally can be handled by Ugandans.
These services include provision of parking yards, warehousing, catering and supply of equipment among others. These are being provided by three different firms, ironically owned by the same foreign directors. The firms are BMS Minerals Ltd, East African Cranes Ltd and Strategic Logistics all owned by Gerry Burley, John William Paul Sherwen, Mark John Morley and Peter James Bateman.
According to Mr Kabagambe, although the policy requires local content in the oil and gas service sector, it may be not be possible to get locals ready to offer the services.
“Ugandans didn’t know what was going on because they were sleepy for a long time,” he said.
Sector veteran
Mr Kabagambe is part of a handful of Ugandans who are veterans of the local oil sector. Asked whether locals couldnt provide parking yards, Mr Kabagambe said, “I know what I am saying because I have been in the oil sector for a long time. Those companies need time to develop,” he added.
However, sources familiar with the industry, said confidentially that the foreign owned-firms benefited from insider information provided to them by senior managers in Tullow, one of the companies exploring for oil in the country.
Tullow Country chairman Elly Karuhanga dismissed the claim: “The CEO and entire management of Tullow have been instructed to ensure that Uganda and Ghana become a case study for indigenisation and empowerment of local content so that local people get integrated into oil business.”
Mr Karuhanga also said the oil firm has been trying to involve many Ugandan companies “but there has been a lull in activities of Tullow because of unsigned agreements with government.”
He said some foreign firms got the deals because the government gave Tullow certain deadlines to meet or relinquish the oil blocks; therefore the firm had a dilemma to finish the job as fast as possible and also ensure that Ugandans get business.
Still, Mr Karuhanga acknowledges that there is an anomaly but that will be rectified in January when the company expects to meet both local and international firms to discuss business prospects.
Work with locals
“I am quite happy with what is going on and with what is afoot. But those companies will be urged to work with Ugandans; that is the policy Tullow will adopt.”
While Tullow reveals progress, our investigation found out that lack of transparency could foment unrealistic expectations thus inspire resentment.
Although under his docket, Energy minister Hillary Onek blames the anomaly on his bureaucrats. “Let Parliament put public servants in the dock because we need local participation,” he said, adding that the bureaucrats don’t want politicians to dig into what is happening.
“Why should contracts go to foreign firms when our civil servants are the ones who licence companies?” the minister asked, adding “slowly, we have to rectify [the situation].”
And in an email response to our queries on how they landed the lucrative contracts, Mr Gerry Burley, a director on various firms offering oil and gas services, said “tender contracts are awarded by the procurement departments and committees of the various Oil Exploration companies.”
He said that only the Energy ministry could explain the official policy regarding the hiring of local suppliers and service providers in the Ugandan oil industry.
TANZANIA:
Tanzania coffee prices buoyed by year-end rush
Fri Dec 17, 2010 By Fumbuka Ng’wanakilala – DAR ES SALAAM (Reuters) – Tanzania’s coffee prices extended gains at the latest weekly auction, helped by supply shortages at the world market and a year-end shopping rush, regulator Tanzania Coffee Board (TCB) said on Friday.
Up to 87 percent of Tanzania’s estimated coffee production for this season had already been sold by this week, TCB said.
“Many people like to give out gifts of coffee for Christmas and New Year, so this has caused a rush for coffee beans in the market,” Adolph Kumburu, director general of TCB, told Reuters.
Tanzania produces mainly arabica coffee and some robusta coffee. Prices of its arabica normally track the New York market, while those of robusta take their cue from London.
“Prices at the terminal market also rose this week, and there is still a shortage of coffee at the world market. We are waiting to see what happens in the Latin American harvests,” said Kumburu.
Traders said they expect coffee prices at the weekly auctions in Tanzania to remain high towards the end of the year.
“The prices will likely be high throughout December before they start to stabilise in the new year,” said a trader at a leading coffee exporting company.
State-run TCB said 26,732 60-kg bags were offered at the latest sale and 24,223 bags were sold.
KENYA :
Kenya: la presse nationale se félicite des avancées de la CPI
(AFP) – 17/12/2010 – NAIROBI — La plupart des journaux kényans a salué jeudi la divulgation la veille par le procureur de la Cour pénale internationale (CPI) des noms de six principaux suspects dans les violences post-électorales qui ont fait plus de 1.100 morts fin 2007-début 2008.
Luis Moreno-Ocampo “a parlé, que le processus commence!”, lance dans son éditorial le Daily Nation, principal quotidien du pays.
Le procureur de la CPI a révélé mercredi depuis La Haye les noms de six suspects soupçonnés d’être les principaux responsables de crimes contre l’humanité commis lors des violences.
Parmi eux figurent le vice-Premier ministre et ministre des Finances Uhuru Kenyatta et le ministre de l’Education supérieure, suspendu pour une autre affaire, William Ruto, membres des deux principaux partis de la coalition gouvernementale et candidats potentiels à l’élection présidentielle de 2012.
Les suspects ont proclamé leur innocence mais affirment cependant leur intention de coopérer avec les juges de la CPI.
L’intervention de la CPI “n’a vraiment démarré qu’après que les mêmes politiciens, qui pleurent aujourd’hui, eurent saboté toutes les tentatives pour mettre en place un tribunal spécial local”, observe le Daily Nation.
Pour le Nairobi Star, les hommes politiques mis en cause doivent tout simplement quitter leurs fonctions officielles, en attendant l’issue des enquêtes de la CPI: “on ne peut pas avoir faire deux poids deux mesures”, estime le quotidien privé, en référence aux récentes démissions forcées de deux ministres accusés de corruption.
Le Standard, autre grand quotidien, titre pour sa part: “La foudre!”.
Pour le journal, l’annonce d’Ocampo frappe l’Etat à la tête et touche au coeur du pouvoir, dans ce qui pourrait être un tournant dans l’histoire politique du Kenya: “avec le bras de la justice internationale qui va aussi loin, la possibilité existe que le pays renaisse et relève le défi de la justice pour la majorité des sans-voix”.
Dans un éditorial intitulé “Le début de la fin pour l’impunité”, le Standard estime que l’enquête de la CPI s’inscrit dans un processus de réforme du pays, déjà enclenché avec l’adoption d’une nouvelle Constitution en août dernier.
“Pour la première fois, il y a la possibilité d’une vraie justice”, se félicite le Standard.
AFRICA / AU :
Le Ghana, nouveau pays pétrolier
Écrit par Corinna Leblanc-Justin Business déc 17, 2010
http://www.legriot.info/700-le-ghana-nouveau-pays-petrolier/
Ce mercredi, le Ghana a élargi la liste des nations exportatrices de pétrole en Afrique. Pour cette circonstance historique, le chef de l’Etat, John Atta Mills, a symboliquement ouvert les vannes du « Jubilee », un gisement off-shore découvert en 2007 et dont les réserves s’estimeraient à 1,8 milliards de barils. Selon les prévisions, l’exploitation de ce champ devrait produire, dans l’immédiat, 120 000 barils par jour. Ce chiffre, qui pourrait doubler d’ici fin 2013, va propulser le Ghana en 7è position des pays pétroliers au Sud du Sahara. En dehors de l’entreprise publique, la « Ghana National Petroleum Corporation », les sociétés anglo-irlandaise « Tullow Oil » et américaines « Anadarko Petroleum » et « Kosmos » se chargeront de pomper le brut sur le site pétrolifère.Pour ne pas ternir son image de modèle de la côte ouest-africaine, le Ghana doit faire très attention dans la gestion du pétrole, cette richesse s’étant déjà avérée nuisible comme c’est le cas au Nigéria. C’est ce que bien d’observateurs redoutent. Car, bien que l’exploitation soit déjà lancée, les lois qui doivent régir cette activité sont présentement en cours de discussion à l’Assemblée Nationale ghanéenne. En outre, le Ghana, ne disposant pas encore de la technologie appropriée pour gérer les émissions gazeuses de son industrie pétrolière, est toujours confronté à la question environnementale. Enfin, les chefs de villages voisins au champ pétrolifère, s’appuyant sur les us et coutumes locales, exigent de profiter du dixième des bénéfices du pétrole.
UN /ONU :
USA :
CANADA :
AUSTRALIA :
EUROPE :
European Parliament resolution of 16 December 2010 on the situation in Côte d’Ivoire
The European Parliament ,
– having regard to its previous resolutions on Côte d’Ivoire,
– having regard to the provisions of the Electoral Code of Côte d’Ivoire, particularly Law 2001-303 and Ordinance 2008-133, particularly Article 64 thereof,
– having regard to the interim report of the European Union electoral observation mission,
– having regard to the communiqué of the Chairman of the African Union, the statement of the African Union Peace and Security Council, and the final communiqué of the 7 December ECOWAS Commission Extraordinary Session of the Authority of Heads of State and Government on Côte d’Ivoire held in Abuja, Nigeria,
– having regard to the Declaration of the ACP-EU Joint Parliamentary Assembly adopted on 3 December 2010 in Kinshasa,
– having regard to the statements of HR/VP Catherine Ashton on the electoral process, and in particular those of 3 December 2010 on the Côte d’Ivoire election results and of 1 December 2010 on the second round of presidential elections in Côte d’Ivoire,
– having regard to the Statement of 3 December 2010 made by Mr Young Jin Choi, Special Representative of the UN Secretary General in Côte d’Ivoire, on the certification of the results of the second round of the presidential election held on 28 November,
– having regard to the UN Security Council Declaration of 8 December 2010,
– having regard to the Conclusions on Côte d’Ivoire adopted by the EU Foreign Affairs Council at its 3058th meeting on 13 December 2010,
– having regard to Rule 110(4) of its Rules of Procedure,
A. having regard to the holding of presidential elections in Côte d’Ivoire and the serious political and institutional crisis which has engulfed the country in the aftermath of the second round of voting on 28 November 2010; whereas the electoral campaign for the second round of the elections was characterised by a climate of tension and violent acts inflicting injuries and causing several deaths,
B. whereas according to independent observation reports, particularly by the UN and the European Union, the elections – the organisation of which cost USD 400 million – generally proceeded in a satisfactory manner,
C. whereas Côte d’Ivoire’s Independent Electoral Commission announced that Ouattara had won the elections, but the country’s Constitutional Council overturned the result, claiming that fraud had occurred in some areas, and declared Gbagbo to be the winner,
D. whereas the Constitutional Council has a duty to the people of Côte d’Ivoire to apply the law impartially and whereas the Constitution, Law 2001-303 and Article 64 of the Ordinance of 2008 assign to it the power only to annul the presidential elections but not to proclaim results different from those of the Independent Electoral Commission,
E. whereas two UN resolutions adopted after the 2005 peace agreement assign to the United Nations responsibility for certifying the results, the first time that this has been done in Africa,
F. whereas the Special Representative of the Secretary General of the United Nations has certified the quality of the Côte d’Ivoire electoral process and that the results released by the Independent Electoral Commission are representative of the will of the Ivorian citizens, and has declared Mr Ouattara to be the winner of the elections,
G. whereas the UN Security Council has welcomed the announcement of provisional results by the Independent Electoral Commission of Côte d’Ivoire (CEI) and reiterated its readiness to take appropriate measures against those who obstruct the peace process, in particular the work of the CEI, as set out by Paragraph 6 of Resolution 1946(2010),
H. whereas the sole source of democratic legitimacy is universal suffrage, the results of which have been certified by the UN,
I. whereas, at its extraordinary summit of 7 December 2010, the Economic Community of West African States (ECOWAS) called on Mr Gbagbo to ‘surrender power without delay’ and suspended Côte d’Ivoire ‘from all its activities until further notice’,
J. whereas the President of the African Union (AU), Mr Bingu Wa Mutharika, took the view, as expressed in his official statement of 8 December 2010, that ‘Mr Gbagbo must respect the will of the people as expressed through the ballot box and surrender power peacefully in order to avoid another bloodbath in Africa’ and that the AU ‘stands side by side with ECOWAS and the international observers who certified that Mr Ouattara had won the elections’,
K. having regard to the concern of economic stakeholders, as the present situation could impoverish the country and therefore its population, and the whole of West Africa, as Côte d’Ivoire accounts for 40% of the GDP of the WAEMU,
L. whereas the outgoing President has a responsibility to allow a peaceful transition which will maintain civil peace, which is indispensable to the future of Côte d’Ivoire, by withdrawing, thus avoiding inflicting fresh sufferings on his people and on the region,
1. Considers that the sole source of democratic legitimacy is universal suffrage, the results of which have been certified by the UN, and calls therefore on Mr Gbagbo to step down and hand over power to Alassane Ouattara;
2. Urges all the political and armed forces in Côte d’Ivoire to respect the will of the people that was reflected by the results of the 28 November poll, as announced by the CEI and certified by the UNSG Special Representative;
3. Deplores the violent clashes that preceded the proclamation of the results of the second round of presidential elections in Côte d’Ivoire and expresses its deepest solidarity with the victims and their families; regrets also the political obstruction and attempts to intimidate CEI members, which ultimately delayed the announcement of provisional results, thus hampering the due course of the democratic electoral process;
4. Deeply regrets the decision of the Constitutional Council of Côte d’Ivoire, all of whose members were appointed by the outgoing President, to alter the results announced by the Electoral Commission, in violation of the law which it was its task to enforce, and considers this decision to have been contrary to the desire expressed by the people of Côte d’Ivoire through the ballot box;
5. Stresses the importance of the decision by the AU to suspend Côte d’Ivoire ‘from all participation in the activities of the organisation until the democratically elected President, Alassane Ouattara, actually exercises power’;
6. Welcomes the declarations of various actors of the international community expressing support for the electoral process in Côte d’Ivoire and acknowledging Mr Ouattara as the legitimate winner of the poll;
7. Firmly supports the efforts of the AU and ECOWAS to prevent violence and ensure the recognition of the legitimate government;
8. Accords its full confidence to the Special Representative of the UN Secretary General responsible for certifying the results;
9. Is deeply concerned by the current post-electoral political deadlock prevailing in the country, as well as by the reported acts of violence involving, in some instances, the Ivorian security forces; emphasises the need to closely monitor the situation prevailing in the country and the reported acts of violence;
10. Deplores the violence which has occurred and considers that it is a priority to protect the civilian population; calls on all parties concerned in Côte d’Ivoire to avoid any risk of an escalation of tension and to prevent any confrontation; calls therefore for action to restore the democratic functioning of institutions in the sole interest of the people of Côte d’Ivoire and the preservation of peace;
11. Welcomes all mediation efforts and calls on all political forces in Côte d’Ivoire to actively support a peaceful transition and thus avoid a division of the country;
12. Strongly condemns the acts of intimidation directed against the European Union’s observers in Côte d’Ivoire that forced the mission to withdraw for security reasons;
13. Deplores the suspension of the nongovernmental media in Côte d’Ivoire; recalls that it is essential that all the people of Côte d’Ivoire should enjoy full access to plural and diverse information in the media, and calls on the Ivorian authorities to immediately restore equitable access to the State media;
14. Supports the EU decision to impose sanctions against Laurent Gbagbo and welcomes the EU Council decision to adopt targeted measures against those who are obstructing the process of peace and national reconciliation, and in particular those who are jeopardising the outcome of the electoral process; calls on HR/VP Catherine Ashton to present as soon as possible new initiatives to support the democratically elected authorities in Côte d’Ivoire;
15. Instructs its President to forward this resolution to the Council, the Commission, HR/VP Catherine Ashton, the UN Security Council, the UN Secretary General, the ONUCI, the institutions of the African Union, ECOWAS, the ACP-EU Parliamentary Assembly and the EU Member States.
CHINA :
Wesizwe Rises Most in 1 1/2 Years on Jinchuan Takeover
December 17, 2010, Bloomberg By Carli Lourens
(Updates with closing share price in second paragraph.)
Dec. 17 (Bloomberg) — Wesizwe Platinum Ltd., a South African explorer of the metal, rose the most in 1 1/2 years in Johannesburg trading after agreeing on takeover terms with Jinchuan Group Ltd., China’s largest platinum producer.
Wesizwe climbed 12 percent to 2.20 rand at the 5 p.m. close of trade, the biggest one-day gain since June 24, 2009.
Jinchuan, together with China-Africa Development Fund and black investors group Micawber 809 Ltd., will buy new shares for $227 million, or about 1.86 rand each, Wesizwe said in a statement. The deal includes a debt commitment, giving the Johannesburg-based company $877 million to build its first mine in South Africa, the world’s largest supplier of platinum.
State-owned Jinchuan’s takeover boosts China’s access to global resources to feed the world’s fastest-growing major economy. Jinchuan also agreed in September to buy Continental Minerals Corp. to gain gold and copper projects. It may hold an initial public offering next year, China Securities Journal reported in July, citing unidentified company officials.
Jinchuan and China-Africa Development Fund, which will own about 45 percent of Wesizwe after the transaction, agreed to secure $650 million in project finance and any additional funding to complete the Frischgewaagd-Ledig mine, Wesizwe said. Micawber will own a 6 percent stake in the company.
Mine Cost
The estimated cost to dig the mine northwest of Johannesburg is “similar” to a 2009 estimate of 6.6 billion rand ($960 million) and it could start production around 2013, Arthur Mashiatshidi, Wesizwe’s chief executive officer, said in a telephone interview from the city today.
The deal, subject to shareholder approval, provides a “total financing solution” for the project, Wesizwe said. The company struggled to get funds to build the mine after platinum prices plummeted in 2008. The mine may produce 350,000 ounces of platinum and related metals a year, according to the statement.
“This is a very significant investment, the largest Chinese investment in mining in South Africa,” Mike Solomon, a director at Wesizwe, said by mobile phone.
Platinum prices, which fell as much as two-thirds in London trading in 2008 as a six-year commodity boom ended, have doubled in the past two years.
China-Africa Development Fund was set up in 2007 to implement President Hu Jintao’s cooperation initiatives between China and Africa. The size of the fund is $5 billion, according to Wesizwe’s statement.
–Editor: Amanda Jordan
To contact the reporter on this story: Carli Lourens in Johannesburg at clourens@bloomberg.net
To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net
INDIA :
BRASIL:
EN BREF, CE 17 décembre 2010… AGNEWS /DAM, NY,17/12/2010
