Zimbabwe Ruling Party Adds Sanctioned Tycoon to Leadership Ranks
The Central Committee of the Zimbabwe African National Union-Patriotic Front approved Tagwirei's membership on Thursday following a recommendation from the Harare Province executive, government spokesman Nick Mangwana said in a post on X.
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Yahoo
an hour ago
- Yahoo
Orano's uranium joint venture in Niger on brink of bankruptcy
French uranium mining company Orano has announced that its joint venture with Niger, SOMAIR, is facing bankruptcy due to export restrictions imposed by the country's military government, according to a Reuters report. The development follows the seizure of control of the mine in December 2024 by the government, which also revealed plans to nationalise the mine. The mining sector in West Africa is undergoing significant changes as governments seek to assert greater control over their natural resources. Orano, which holds a majority stake in SOMAIR, has been in a year-long dispute with Niger, leading to the suspension of uranium production. The company has communicated SOMAIR's deteriorating financial situation to the authorities since October 2024. Niger accounted for 15% of Orano's uranium supply when the local unit was fully operational. The company states that the insistence of the Nigerien authorities on maintaining production costs has brought SOMAIR to the brink of financial collapse. Despite current challenges, the main mineworker's union in Niger has stated that production at the mine will continue. The union has accused Orano of sabotage - a charge it denies. Orano has pointed out that its state-owned partner, SOPAMIN, has avoided sharing production costs during periods of low uranium prices. This forced Orano to bear an unfair share of the financial burden by having to purchase additional uranium above its shareholding to maintain the financial stability of the mine. Amidst rising uranium spot prices, which have seen a 7% increase in the first sixth months of 2025 and reached a seven-month high of $79 per pound in late June, Orano emphasised its right to legal action without further specifying its next steps. It has expressed a desire for the remaining financial resources of the venture to be allocated towards paying employee salaries and maintaining industrial facilities. The situation in Niger reflects a broader trend in the region, with Mali placing Barrick's Loulo-Gounkoto gold complex under state control, and Burkina Faso and Guinea seeking more significant mining shares from Western companies while showing interest in Russian partnerships. "Orano's uranium joint venture in Niger on brink of bankruptcy" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 hours ago
- Yahoo
Trump Kicks Off Celebration of America by Declaring His Hatred for Democrats
President Donald Trump declared his hatred for his political opponents during a supposedly bipartisan celebration of the 250th anniversary of America's independence. Taking to the lectern behind thick bulletproof glass in Des Moines, Iowa, on Thursday, Trump immediately started firing off political potshots. 'They wouldn't vote only because they hate Trump, but I hate them, too, you know?' Trump said, referring to Democrats who voted against his 'Big Beautiful Bill,' which the House sent to the president's desk after a tight vote. 'I really do. I hate them. I cannot stand them, because I really believe they hate our country.' His tone was strange given that the event, on the eve of July 4, was organized as a non-political celebration. Trump's liaison to the organizing group, America250, said that it was designed to bring Americans together. In an interview before the festivities at the Iowa State Fairgrounds, Chief of Protocol Monica Crowley said the anniversary events are 'something that I think that all Americans can come together to celebrate and honor our history as well as our present and our future.' However, she had her own partisan bent when introducing the president on stage. 'I don't know what more people expect or want from an American president,' Crowley said. 'He is literally fulfilling the entire job description, and so much more.' As the event devolved into the Trump show, the president also rambled about weaponizing Democratic dissent towards his bill in the midterms next year. 'With all of the things we did with the tax cuts and rebuilding our military, not one Democrat voted for us, and I think we use it in the campaign that's coming up the midterms, because we got to beat them,' he said. He also made the event about the fact that he was able to pass his bill just hours before. 'There could be no better birthday present for America than the phenomenal victory we achieved just hours ago, when Congress passed the One Big Beautiful Bill to make America great again,' he told the crowd. 'We've saved our country,' he boasted as his favorite MAGA singer, Lee Greenwood, pumped out his campaign anthem 'God Bless the U.S.A.' 'We got great marks in the first term, and this is going to blow it away,' Trump said at one point, ignoring a recent AP-NORC poll showed that six in 10 Americans disapprove of Trump's performance as president and other surveys showing him with negative approval ratings.
Bloomberg
3 hours ago
- Bloomberg
Slovenian Lawmakers Back Referendum on Defense Spending Plans
Slovenian lawmakers approved a motion to hold a referendum on increasing defense spending, a move that could thwart government plans to join the rest of Europe in bolstering security. The referendum seeks to reverse the Alpine nation's decision to increase defense outlays to 3% of gross domestic product by 2030.
