International and Sudbury nickel miner Vale is ready to sell off 10 per cent of its base metals division to Saudi Arabia, according to reports in the business media.
South Africa will overshoot its budget deficit target this year due to higher spending on public wages and an expected dip in tax receipts amid sluggish economic growth and lower commodity prices, economists told Reuters.
Egypt is about to launch a set of bids for precious and basic metals, in addition to phosphates, sulfur, and potash, during the current quarter, Minister of Petroleum and Mineral Resources Tarek el-Molla has announced.
A flurry of economic data from China in the coming week is expected to show its post-pandemic bounce is quickly fizzling out, raising expectations that the world’s largest oil importer needs to unveil more stimulus measures soon to shore up activity and shaky consumer confidence.