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The South African rand fell for a seventh consecutive session due partly to investor issues in regards to the financial well-being of the nation’s largest buying and selling associate, China. The SA forex is now at its lowest stage since January, weighed down by the continuing lockdowns which have cooled demand for African pure assets by conserving factories offline and limiting operations at a lot of China’s largest ports. (REUTERS)
The Swiss mining large Glencore will now be part of a number of Chinese language and Israeli corporations to face scrutiny within the DRC over unfair mining contracts. Kinshasa added Glencore’s Mutanda copper and cobalt mine to the rising record of contracts signed underneath the earlier authorities of Joseph Kabila that can now be reviewed. A few of Mutanda’s mining permits expire in Might and Kinshasa will need to make sure that any contract renewals are equitable for the DRC. (BLOOMBERG)
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