NEW YORK (Reuters) &#8211; The United States, China and Russia fought on Thursday during a United Nations Security Council meeting on the coronavirus pandemic after U.N. chief Antonio Guterres had warned the body that if the climate crisis was approached with the “same disunity and disarray” of COVID-19, then: “I fear the worst.”



Guterres said the coronavirus was out of control as the global death toll approaches 1 million, while more than 30 million have been infected. He blamed “a lack of global preparedness, cooperation, unity and solidarity.”



“The pandemic is a clear test of international cooperation – a test we have essentially failed,” he told the 15-member body.



Russian Foreign Minister Sergey Lavrov and the Chinese government’s top diplomat, Wang Yi, both took veiled swipes at the United States during the virtual council meeting on global governance post-COVID-19, to which U.S. Ambassador Kelly Craft responded: “Shame on each of you.”



“I am astonished and I am disgusted by the content of today’s discussion &#8230; members of the council who took this opportunity to focus on political grudges rather than the critical issue at hand,” she said.



While not naming any countries, Lavrov noted that the pandemic had deepened differences between states.



“We see attempts on the part of individual countries to use the current situation in order to move forward their narrow interests of the moment, in order to settle the score with an undesirable government or geopolitical competitors,” he said.







Long-simmering tensions between the United States and China hit the boiling point over the pandemic, spotlighting Beijing’s bid for greater multilateral influence in a challenge to Washington’s traditional leadership.



Wang called for better coordination and cooperation among key powers on Thursday.



“Major countries are even more duty-bound to put the future of humankind first, discard Cold War mentality and ideological bias, and come together in the spirit or partnership to tide over the difficulties,” he said.



‘ENOUGH IS ENOUGH’



U.S. President Donald Trump is facing a Nov. 3 re-election battle as the United States is dealing with the world’s highest official number of deaths and infections from the coronavirus. Washington accuses Beijing of a lack of transparency that it says worsened the outbreak. China denies the U.S. assertions.



Craft reiterated those accusations on Thursday, echoing a call by Trump for the world body to hold China accountable.







China’s U.N. Ambassador Zhang Jun rejected her accusations and said: “Enough is enough. You have created enough troubles for the world already. &#8230; The U.S. should understand that blaming others will not solve its own problems.”



The United States has announced plans to leave the Geneva-based World Health Organization after Trump accused it of becoming a puppet for China during the coronavirus pandemic. The WHO has rejected Trump’s assertion.



“At times, geopolitics have tampered cooperation and hindered our agility. The pandemic has tested the international system like never before,” said Britain’s Minister of State for South Asia and the Commonwealth, Lord Tariq Ahmad of Wimbledon. “But now is not the moment to reject international institutions.”



French Foreign Minister Jean-Yves Le Drian also appeared to take a stab at the United States when he said the pandemic should not be used to undermine “all the work has been done over recent decades by feminist movements for gender equality.”



“We must be on our guard, we must be watchful, particularly when it comes to protecting sexual reproductive rights,” he told the Security Council.



Trump’s administration has led a push at the United Nations against the promotion of sexual and reproductive health rights and services for women because it sees that as code for abortion. Earlier this month, the United States voted against a U.N. General Assembly resolution on the coronavirus pandemic partly because it included such language.

Clarification on COVID-19 “hotspots” as SA moves to level 3 lockdown

If world handles climate like COVID-19, U.N. chief says: ‘I fear the worst’

(Reuters) &#8211; Facebook Inc’s long-delayed independent Oversight Board plans to launch in mid-late October, just before the November U.S. presidential election, but a Facebook spokeswoman said on Thursday it was unlikely that the board would handle election-related cases.



The board, created by Facebook in response to criticism of its handling of problematic content, will initially have the power to review decisions to take down posts from Facebook and Instagram, and recommend policy changes.



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Oversight Board member Alan Rusbridger told Reuters in an interview this week the board was now aiming for an October launch. A board spokesman said that the late launch, originally planned for last year, had been further slowed by the coronavirus pandemic.



Potential cases would come to the board from users who have exhausted the appeals process, or be sent over from Facebook. Deciding and implementing rulings would take up to 90 days, although Facebook could ask for them to be expedited within 30 days.



The Facebook spokeswoman said it was unlikely that cases related to the election would get through the process given that time frame.



Rusbridger also told Reuters that cases involving President Donald Trump’s posts were not among those that the board had looked at in trial runs.



“We haven’t done a Trump case,” said Rusbridger, a former editor-in-chief of Britain’s Guardian newspaper. “We have done a nudity case, we’ve done a blasphemy case.”







Facebook faced employee backlash in recent months over its decision to take no action over posts from Trump containing misleading claims about mail-in voting and inflammatory language about anti-racism protests. Its smaller rival Twitter, by contrast, attached fact-checking labels and warnings to the same posts.



Tech watchdog Accountable Tech, which launched a campaign asking the board’s members to demand “real authority” or resign, said in a statement on Thursday the launch would be “too late to address Facebook’s deficiencies ahead of the election.”



The board will initially review only appeals over posts that Facebook has taken down, rather than content the company decides to leave up. Some experts say that means it will be of little use in addressing problems such as misinformation and hate speech.



It will also at first only deal with individual posts, not Facebook ads, or groups.



Rusbridger said the board had not yet made any changes to its remit.



Rusbridger declined to comment on Facebook’s policy of exempting politicians’ speech and ads from its third-party fact-checking program, though he said: “I can’t imagine we won’t have a case brought to us on that.”







‘WIDER RESONANCE’



Since the first 20 members of the board were announced in May, they have had virtual meetings to discuss issues such as how to select cases and deal with minority opinions, Rusbridger said.



Rusbridger said the board would be looking for cases with “wider resonance,” though precedents set by decisions on individual posts would not be binding in future cases.



Facebook can also ask the board for policy recommendations though it does not have to act on them, a framework that was criticized by some U.S. Democratic lawmakers.



The board, which includes a former Danish prime minister, a Yemeni Nobel Peace Prize laureate, law experts and rights advocates from around the world, is expected to grow to a group of 40 members.



Rusbridger said the board was thinking about how it will select these candidates but was not yet choosing more members.

Facebook holds on as TikTok invades Social Media in SA

Facebook’s Oversight Board plans to launch just before U.S. election

(Reuters) &#8211; Tesla Inc&#8217;s&nbsp;<a href="https://www.reuters.com/companies/TSLA.O">TSLA.O</a>&nbsp;plan to produce lithium for electric vehicle batteries close to its Nevada Gigafactory faces stark challenges from the outset, including an onerous permitting process, uncertain access to water and questions about unproven methodologies.Slideshow&nbsp;( 2 images )



Chief Executive Officer Elon Musk told shareholders on Tuesday Tesla has secured rights to 10,000 acres in Nevada where it aims to produce lithium from clay deposits using a process developed internally.



The move would make Tesla the first company in the world to commercially produce the white metal from clay. Lithium is produced either from brine, commonly found in South America, or spodumene hard rock, usually in Australia.



In Nevada, Tesla plans to mix clay with table salt and then add water, which it says causes a reaction where the salt would leach out with lithium, which can then be extracted. The leftover clay would be put back in the earth to mitigate environmental damage.



“It’s a very sustainable way of obtaining lithium,” said Musk, who did not say where in Nevada the company had obtained the lithium rights or whether development has started.







The plan drew backlash almost immediately, with critics describing Musk’s plan as too simplistic and light on details. Returning rock to the earth after minerals are extracted, for instance, is already common industry practice through the use of tailings dams.



“This plan from Tesla brings up a lot more questions than it answers,” said Chris Berry, an independent lithium industry consultant. “Are we just supposed to take Elon Musk’s word for it that the cost will be lower than existing lithium projects?”



Palo Alto, Calif.-based Tesla did not immediately respond to a request for comment.



Nevada already has several lithium clay projects under development, including one from Lithium Americas Corp&nbsp;<a href="https://www.reuters.com/companies/LAC.TO">LAC.TO</a>&nbsp;that has been seeking federal permit approval for more than a decade and another from ioneer Ltd&nbsp;<a href="https://www.reuters.com/companies/INR.AX">INR.AX</a>.



RELATED COVERAGE<a href="https://www.reuters.com/article/us-tesla-battery-factbox/tesla-could-struggle-to-implement-some-of-its-battery-advances-experts-say-idUSKCN26E3J4"></a><a href="https://www.reuters.com/article/us-tesla-battery-factbox/tesla-could-struggle-to-implement-some-of-its-battery-advances-experts-say-idUSKCN26E3J4">Tesla could struggle to implement some of its battery advances, experts say</a>



Lithium Americas has said it is confident it can successfully extract lithium from clay through a process that involves acid leaching. Tesla said its process won’t involve acid, fueling further questions.



“If producing lithium in commercial amounts at battery quality grades from clay was feasible, why isn’t it already being done?” said Berry.



Any lithium project from Tesla would require an intensive application process for necessary permits that could stretch on for years.



&#8220;Mining lithium is very challenging,&#8221; said Pedro Palandrani of the Global X Lithium &amp; Battery Technology ETF&nbsp;<a href="https://www.reuters.com/companies/LIT.P">LIT.P</a>, which holds shares in Tesla and lithium producers. &#8220;If Tesla really wants to fly solo, we&#8217;re talking about four to five years to really see any kind of lithium production.&#8221;







Tesla’s plan also would likely require substantial amounts of water, forcing the company to battle with cattle ranchers for access to underground reservoirs in the arid state.



Albemarle Corp&nbsp;<a href="https://www.reuters.com/companies/ALB.N">ALB.N</a>&nbsp;operated the only existing U.S. lithium mine at a site roughly 200 miles (322 km) north of Las Vegas until it shut it down last month.



Operational since the late 1960s, the site produced less than 5,000 tonnes of lithium per year, a relatively small amount and far less than Tesla would need.

Elon Musk At SpaceX Headquarters

Tesla’s Nevada lithium plan faces stark obstacles on path to production

NAIROBI (Reuters) &#8211; Kenya’s candidate to become the next head of the World Trade Organisation pledged on Thursday to integrate climate change issues into the WTO agenda if selected.



Amina Mohamed, who is the East African nation’s sports minister, progressed to the second round of selection to become the next director-general of the WTO, along with four other candidates, on Friday.



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“How is it possible that the WTO does not discuss climate change?&#8230; WTO must be a part of the global conversation on climate change,” she told an online media briefing from Geneva.



Mohamed, who was involved in the development of green financial instruments when she was the deputy head of the U.N. agency for the environment (UNEP), said she would make the WTO’s trade and environment committee active.



“At the end of the day, it is about the bottom line, but that bottom line can actually be improved by going green because that is the future,” she said.



The committee’s first task, if she wins the selection contest, would be to draw up rules for the international trade of environmental goods and services like solar panels and wind turbines, she said.



It will also look to replicate climate change mitigation initiatives, like the carbon tax in Europe, which is now being adopted by other states in places like Africa.



“The WTO can do that on a grander scale&#8230; so that the impact of the measures that we are putting in place can be felt,” Mohamed said, adding that the measures will be accompanied by incentives for firms like other tax breaks.



The wider adoption of those climate change mitigation measures will make the globe reap their benefits sooner, because “we don’t have to wait for 50 years” to feel the impact of individual states or trade blocs are doing, she said.



In the second round of selection, the WTO’s 164 members will give their preferences from Sept 24 to Oct 6, whittling the candidates down to two. The organisation has said it wants to select the winner by early November.

Amina Mohamed

Kenya’s WTO candidate says she will focus on climate change if selected

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According to the Allianz Global Wealth Report 2020, South Africa ranks 38th in the ranking of the richest countries. This is with net financial assets per capita of $8 385. The gross financial assets of South African households rose by 6.7 per cent in 2019, after declining by almost 4 per cent in the previous year. Selin Ozyurt, Senior Economist for Africa and France at Euler Hermes joins CNBC Africa for more.

Allianz Global Wealth Report 2020: How COVID-19 has impacted the world’s wealth

Nigerian equities extend gains for third straight day

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Tanzania&#8217;s digital landscape in recent years has grown creating a number of economic opportunities. Mastercard and Selcom recently announced the launch an enhanced mobile payment application that enables people to centralize all their payment cards or supported mobile banking profiles on one digital platform. Sameer Hirji, Executive Director, Selcom Paytech Limited joins CNBC Africa for more.

Accelerating the adoption of digital payments in Tanzania

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According to the 2020 edition of the Africa CEO Survey, 99 per cent of African companies report that the pandemic had a negative impact on their revenue in 2020. However, despite the headwinds, African business leaders exhibit a relatively high degree of confidence about the continent’s long-term economic growth. Moreover, the acceleration of digitization is now establishing itself as an essential component of companies’ recovery strategy. Frederic Maury, Director of Development at the Africa CEO Forum joins CNBC Africa for more.

African business leaders remain bullish about continent’s long-term economic growth

Why The U.S. Doesn’t Vote Online

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As part of efforts to scale its operations over the next five years, Auxano Solar Nigeria has signed a $1.5 million investment deal with Shell-funded impact investment company All On, for a solar panel assembly plant expansion. Auxano Solar&#8217;s Co-founder and Chief Operating Officer, Chuks Umezulora joins CNBC Africa’s Kenneth Igbomor for more.

All On

All On, Auxano Solar sign $1.5m solar panel plant deal

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According to a recent report by dubbed the 2020 Geography of Cryptocurrency Report there African countries namely; Nigeria, Kenya and South Africa are ranked among the top ten countries in cryptocurrency adoption. Despite the increased awareness, Kenya’s Central Bank previously issued circulars to all Kenyan banks requiring them to refrain from doing business with crypto-based companies. Aerlene Mugambi, Currency Investor and Forex Trader joins CNBC Africa for more.

Kenya ranked among world’s top 10 countries in cyptocurrency adoption

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The price of Personal Protective Equipment has been a big challenge to many governments, more so with the high costs of importing the highly needed gear in the wake of the COVID-19 pandemic. But could this cost have been brought down by the governments if they looked more inwards and how much would it take? Nguo Yetu CEO, Charity Mwangi spoke to CNBC Africa for more.

Why African govts should go local to ensure PPE affordability

(Reuters) &#8211; Tesla Inc&nbsp;<a href="https://www.reuters.com/companies/TSLA.O">TSLA.O</a>&nbsp;CEO Elon Musk on Tuesday is scheduled to showcase the company&#8217;s advanced battery technology, with investors expecting he will outline how the company&#8217;s electric vehicles will surpass the cost and convenience of internal combustion engines.FILE PHOTO: Tesla Inc CEO Elon Musk speaks onstage during a delivery event for Tesla China-made Model 3 cars at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song



As automakers shift from horsepower to kilowatts to comply with stricter environmental regulations, investors are looking for evidence that Tesla can increase its lead in electrification technology over legacy automakers who generate most of their sales and profits from gasoline-powered vehicles.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/12/gettyimages-1155740300-594x594.jpg" alt="Billionaire Elon Musk: I am not Warren Buffett’s biggest fan" class="wp-image-351991" width="692" height="480" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2019/12/gettyimages-1155740300-594x594-300x207.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2019/12/gettyimages-1155740300-594x594-100x70.jpg 100w, https://cms.cnbcafrica.com/wp-content/uploads/2019/12/gettyimages-1155740300-594x594-218x150.jpg 218w" sizes="(max-width: 692px) 100vw, 692px" /><figcaption>Billionaire Elon Musk: I am not Warren Buffett’s biggest fan (Photo by Charley Gallay/Getty Images for E3/Entertainment Software Association)</figcaption></figure>



Musk, who frequently launches new products in attention-grabbing, show-like announcements, has fueled expectations for Battery Day over the past months, in April calling the event “one of the most exciting days in Tesla’s history.”



On Monday, Musk said on Twitter that the battery improvements to be unveiled at the event would not reach “serious high-volume production” until 2022, sending Tesla shares down 5% in extended trade.







Analysts expect Tesla to present a range of updates, including significant improvements to the amount of energy its batteries can store, allowing vehicles to drive further on a single charge. They also await updates on the production cost of battery cells, largely seen as an impediment to wider electric vehicle adoption.



“We suspect there will be a plenty for everyone,” Canaccord analyst Jed Dorsheimer said in a Monday note.



Investors, for example, expect Musk to explain how Tesla will capitalize on its 2019 acquisition of U.S. battery company Maxwell Technologies Inc. Some investors expect the automaker to announce that Maxwell’s dry battery electrode technology could significantly reduce manufacturing costs, speed up production and improve batteries’ energy storage capacity.



RELATED COVERAGE<a href="https://www.reuters.com/article/us-tesla-batteryday-productivity/tesla-warns-on-challenges-of-scaling-up-production-idUSKCN26D1BN"></a><a href="https://www.reuters.com/article/us-tesla-batteryday-productivity/tesla-warns-on-challenges-of-scaling-up-production-idUSKCN26D1BN">Tesla warns on challenges of scaling up production</a>



Musk has complained in the past that Tesla vehicles are not affordable enough. Tesla’s lowest-range Model 3 sedan with a range of 250 miles (400 km) currently starts at $37,990 in the United States. Musk in July said scaling battery cell production at an affordable price was Tesla’s biggest limitation to growth.



Tesla’s futuristic Cybertruck, expected to be released in 2021, will have a maximum range of 500 miles, among the longest range of any electric vehicle on the market today.



While average electric vehicle prices have decreased in recent years thanks to changes in battery chemistry and composition, they are still more expensive than conventional cars, with the battery estimated to make up a quarter to a third of an electric vehicle’s cost.







Some researchers estimate that price parity, or the point at which electric vehicles are equal in value to internal combustion cars, is reached when battery packs cost $100 per kilowatt hour (kWh).



Tesla’s battery packs cost $156 per kWh in 2019, according to electric vehicle consulting firm Cairn Energy Research Advisors, which would put the cost of a 90-kWh pack at around $14,000.



Analysts at UBS expect Tesla to announce battery cell costs of $70 to $80 per kWh over the next three years, allowing the company to save roughly $2,300 per vehicle.



Such a price advantage would leave competitors unlikely to catch up to Tesla, the UBS analysts said.



Tesla currently produces batteries in partnership with Japan&#8217;s Panasonic Corp&nbsp;<a href="https://www.reuters.com/companies/6752.T">6752.T</a>&nbsp;at its $5 billion Nevada factory, while South Korea&#8217;s LG Chem&nbsp;<a href="https://www.reuters.com/companies/051910.KS">051910.KS</a>&nbsp;and China&#8217;s CATL&nbsp;<a href="https://www.reuters.com/companies/300750.SZ">300750.SZ</a>&nbsp;supply cells to its Shanghai factory.



Musk on Monday said Tesla intends to increase battery cell purchases from those three suppliers and possibly with other partners as well.



Tesla is also building its own cell manufacturing facility at its new factory in Germany and is setting up a battery research and manufacturing facility at its largest vehicle factory in Fremont, California.



Musk in July also said Tesla was open to license and supply powertrains and batteries to other automakers.

Elon Musk expected to use Tesla ‘Battery Day’ to argue for the end of combustion engines

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Dangote Cement&#8217;s Group Managing Director and CEO Michel Puchercos says despite the impact of the COVID-19 pandemic, the cement maker recorded a record high volume of 4.7 metric tons in its pan-African operations. He joins CNBC Africa&#8217;s Kenneth Igbomor now ahead of the company&#8217;s fact behind the figures presentation with the Nigerian Stock Exchange.

Dangote Cement’s Michel Puchercos on the drivers behind solid H1 numbers

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Zimbabwe’s government is in talks with international investments banks to support the new Victoria Falls Stock Exchange. The exchange will trade exclusively in foreign currency and targets global capital markets especially in the mining industry. Batanai Matsika, Head of Research at Morgan &#038; Co spoke to CNBC Africa for more.

Zimbabwe govt in talks with banks to support the new Victoria Falls Stock Exchange

The tourism economy has been heavily hit by the coronavirus (COVID-19) pandemic, and measures introduced to contain its spread. Depending on the duration of the crisis, revised scenarios indicate that the potential shock could range between a 60-80% decline in the international tourism economy in Tourist Arrivals in South Africa increased to 62841 in June from 49481 in May of 2020, a positive outcome that portrayed a possibility to reset the tourism curve closer to pre COVID-19 outbreak. As has been an ongoing trend over the last four years, Travel and Tourism competitiveness continues to improve worldwide, and connectivity enabling—and enabled by—the industry remains on an upward path. 



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What measures are needed to build resilience and address the challenges confronting the sector pre and post COVID-19 such as sustainability, climate change, digitalisation, health crises and other external shocks and ensure local businesses and communities reap the benefits of this growth? 



Tourism is a steadily growing and economically important sector globally and locally. It makes significant contributions to job creation, export revenue, and domestic value added, and helps improve the attractiveness and well-being of places, not only as destinations to visit, but also to live, work and invest.



 Tourism Trends in 2020 outlines digitalisation and sustainability to drive the industry post Covid-19.South African tourism recovery is dependent on funding for small medium enterprise and transformation. Travel and Tourism industry has completely changed and we need to move forward, we mustn’t force to hold back, we must move forward and adapt to the digital innovation and platforms that are part of the future of tourism globally and South African economy.



 The economic recovery in Tourism sector has an important role to play in placing the South African economy on a sustainable inclusive growth trajectory. Promoting growth and development of the tourism sector and Promoting the practice of responsible tourism for the benefit of South Africa and for the enjoyment of all its residents and foreign visitors, must be the responsibility of all South Africans from promoting our cultural heritage, improving our local tourism, improving our hospitality to local and global tourists with an understanding that all our visitors play a critical role in boosting our GDP, Job Creation and Investment.



 On average, The Travel and Tourism Sector directly contributes 4.4% of GDP, 6.9% of employment and 21.5% of service exports in OECD countries. It is of vital economic, social and cultural importance, and offers real prospects for sustainable and inclusive development; however, integrated and forward looking policies are needed to ensure this growth better delivers benefits for people, places and businesses. The Tourism Sector in South Africa, directly accounted for 2.8% of real gross domestic product (GDP) and The indirect contribution of the Tourism Sector to the economy’s GDP in 2018 was at 8.2%. Transformation is a hidden challenge in the South African tourism industry and pro broad based policies are needed to rebalance the sector to portray the South African diversity.



 The future of tourism will be impacted by large-scale social, economic, political, environmental and technological changes, bringing new and often unseen challenges, threats and opportunities. These “megatrends” are slow to form, but once they have taken root, exercise a profound and lasting influence on human activities, processes and perceptions, including for tourism. Four megatrends are likely to have significant impacts and relevance for tourism: evolving visitor demand; sustainable tourism growth; enabling technologies; and travel mobility.



 The tourism sector and related industries are parts of the global economy set to be affected by a variety of megatrends. For instance, the International Air Transport Association (IATA) predicts that passenger demand over the next 20 years will be impacted by the emerging middle class in developing countries, diverging demographic outlooks, increasing liberalisation of aviation markets, and climate change (IATA, 2016). Based on feedback from member and partner countries, industry and international organisations, this chapter will explore similar trends, in relation to: Evolving visitor demand, Sustainable tourism growth, Enabling technologies, Travel mobility.



 When considering its likely evolution over the coming decades, it is clear that tourism will be transformed by large-scale social, economic, political, environmental and technological changes. While slow to form, once such “megatrends” have taken root, they exercise a profound and lasting influence on human activities, processes and perceptions. Megatrends bring new and often unseen challenges,threats and opportunities, the impacts which may vary between the economy as a whole and individual sectors.



 It is critical for both governments and industry to explore and understand the multidimensional implications of these megatrends in order to inform policy and shape the future of tourism. An in-depth discussion of such trends will better enable policy makers to bring currently unforeseen and emerging issues onto the strategic policy agenda, develop potential scenarios and policy responses, and better assist public and private actors to capitalise on opportunities and challenges as they arise. Miyelani Mkhabela is a founder and CEO of Antswisa Transaction Advisory

Recovery in tourism ? Think digital

(Reuters) &#8211; The world’s top gold miners sought to reassure investors on Monday that they’re not going on a spending spree despite surging gold prices boosting their shares and free cash flow.



Miners are opting to give more cash back to shareholders rather than plotting takeovers which the market may disapprove of with the COVID-19 pandemic far from over.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2020/06/gettyimages-493425692-594x594-1.jpg" alt="" class="wp-image-374831" width="704" height="471"/><figcaption>Mine workers walk along a raised walkway at Harmony Gold Mining Co.&#8217;s Doornkop mine west of Johannesburg, South Africa, on Tuesday, Oct. 20, 2015. The government is seeking to develop operations from mining rights that have been returned by companies, especially in coal and platinum, Mineral Resources Minister Mosebenzi Zwane told reporters. Photographer: Waldo Swiegers/Bloomberg via Getty Images</figcaption></figure>



“We don’t need to, and will not be, chasing volume,” Newmont Chief Executive Tom Palmer told the Gold Forum Americas conference. “In this current gold price environment we are actively assessing an increase to our sustainable dividend.”



Newmont’s annual dividend of $1 per share was based on a gold price of $1,200 per ounce. Gold was last trading at $1,887 per ounce.



Kinross reinstated its dividend last week, at 12 cents per share annualized, for the first time since 2013. “We think it’s a good starting point,” CEO Paul Rollinson said at the conference.







Newcrest Mining targets a dividend payout of at least 10% to 30% of free cash flow.



“Having a lot of gold won’t create value unless you can achieve strong margins from its extraction,” said Newcrest CEO Sandeep Biswas.



Barrick Gold CEO Mark Bristow said the industry needs further consolidation but sought to reassure investors he saw no imminent deals.



“Wherever we see opportunities to add to our Tier 1 portfolio, we’ll be right there in front of the queue,” he said, but added: “The most important thing is exploration and organic growth.”







Barrick will publish a formal dividend policy early next year.



Sibanye-Stillwater would like to increase exposure to gold but it’s a “difficult time to do anything,” Chief Executive Neal Froneman said.



“We don’t anticipate major M&amp;A announcements,” Credit Suisse analyst Fahad Tariq said on Friday. Site visits remain difficult and companies are wary of repeating past mistakes, he said.

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If world handles climate like COVID-19, U.N. chief says: ‘I fear the worst’

Facebook’s Oversight Board plans to launch just before U.S. election

Tesla’s Nevada lithium plan faces stark obstacles on path to production

Kenya’s WTO candidate says she will focus on climate change if selected

Allianz Global Wealth Report 2020: How COVID-19 has impacted the world’s wealth

Nigerian equities extend gains for third straight day

Accelerating the adoption of digital payments in Tanzania

African business leaders remain bullish about continent’s long-term economic growth

Why The U.S. Doesn’t Vote Online

All On, Auxano Solar sign $1.5m solar panel plant deal

Kenya ranked among world’s top 10 countries in cyptocurrency adoption

Why African govts should go local to ensure PPE affordability

Elon Musk expected to use Tesla ‘Battery Day’ to argue for the end of combustion engines

Dangote Cement’s Michel Puchercos on the drivers behind solid H1 numbers

Zimbabwe govt in talks with banks to support the new Victoria Falls Stock Exchange

Recovery in tourism ? Think digital

Gold miners insist they won’t splurge despite price surge

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