Breaking News Today – Thursday 19 February 2026

Business News Today 

Marafe – Glencore Ferro-Chrome Smelter Back Online – For Now

Lion Smelter’s co-owner Merafe Resources said in a statement yesterday that the National Energy Regulator of South Africa (NERSA) had approved a 35% reduction in electricity tariffs, allowing the restart of their power-intensive smelter, owned within a joint venture between Merafe and Glencore. The statement stated that the Lion Smelter located in Steelpoort, in the Limpopo Province, had achieved its first ferro-chrome production tap on 16 February 2026, following the successful recommissioning of 50% of its operating capacity. This follows the approval by NERSA of a 12 month reduced interim electricity tariff. The Glencore-Merafe Chrome Venture (“Venture”) anticipates that the Lion Smelter will return to full operational capacity by 31 March 2026.

Longer term viability however still hangs in the balance with pricing reforms desperately needed in the country to preserve its diminishing manufacturing sector. South Africa once the global leader in chrome ore processing has seen its position eclipsed by China due to multiple smelter closures including the Boshoek and Wonderkop smelters owned by the same business partnership. The company would require an electricity cost of around 62c per Kilowatt hour of power compared to the 87.74c per kWh “Interim Tarriff” offered by Nersa. Electricity prices in South Africa which have increased by over 900% since 2008, has crippled the industry.

Google Launches New Pixel 10a SmartPhone

The latest entry-level Pixel smartphone from Google was revealed yesterday. The $499 Pixel 10a phone was launched with new AI software capabilities and minor hardware updates. The smartphone features two cameras, a 48MP main camera and a 13MP ultrawide cameraIP68. It also has advanced water and dust protection and is made from durable materials that includes an upgraded Corning Gorilla Glass 7i cover glass on the display. The Pixel 10a is designed to deliver improved durability for better scratch and drop resistance and is available for preorder now with shipments starting March 5 in the US.

US Economy on the Boil

Yesterday saw a string of US data released that paint a picture of a strengthening economy. Industrial production in the United States rose 0.7% month-over-month in January 2026, the most since February 2025 and more than market expectations of a 0.4% gain. Manufacturing output in the United States rose by 0.6% in January 2026, the largest increase since February 2025 and more than market expectations of 0.4%. Durable manufacturing output increased 0.8%, with gains in nearly all component industries.

US building permits saw a rise of 4.3% in December 2025 to a seasonally adjusted annualised rate of 1.448 million, above market expectations of 1.40 million. Permits for buildings with five or more units surged 18.1% to 515,000. US housing starts rose 6.2% month-on-month to a seasonally adjusted annualized rate of 1.404 million in December 2025, up from 1.322 million in November and well above forecasts of 1.33 million. The increase marked the second straight monthly gain, lifting starts to their highest level since July and further rebounding from October’s 15-month low.

Breaking News Shorts:  

• Inflation in South Africa eased to 3.5% year-on-year in January (down from 3.6% in December), keeping hopes alive for more SARB rate cuts—economists are optimistic inflation will hover around 3% through the year.However Business confidence dipped slightly in January after a strong 2025 (highest annual average in over a decade), but the rand’s strength and rising metal prices are giving the economy a welcome tailwind.
• Amazon has reportedly halted its Blue Jay warehouse robotics project only months after unveiling their new warehouse robotic-tech. The multi-armed robot which was designed to sort and move packages, was unveiled in October 2025 for use in the company’s same-day delivery facilities. Amazon said that the project was a prototype and that the underlying tech would be used elsewhere
• Brent crude oil futures rose to around $70.5 per barrel this morning, extending hefty gains from the previous session, which marked the strongest advance in price since late October, driven by fears that US military intervention in Iran could be imminent.
• The Democratic Republic of Congo struck a deal to tender copper from a major Glencore operation in the country, Bloomberg News reported on yesterday.DRC’s state miner, Gecamines, has secured rights to market about half of Kamoto Copper Company’s output, controlled by a Glencore subsidiary, for the next two years, and 30% of production after that, the report said, citing people familiar with the matter.
• Bill Gates has made a last minute withdrawal out of India’s AI Impact Summit hours before his scheduled keynote address was scheduled for this morning’s session at the event, dealing another blow to a “flagship event” that has already been marked by organisational lapses, a robot bungle and delegate complaints according to reports.

Markets by Numbers 

Currency markets indicate the US dollar strengthening against major currencies today, with the Greenback trading against the Euro at 1.17899 while trading against the Pound at 1.34858 to the US dollar. The Yen is currently trading at 155.12 to the dollar. The rand (ZAR) is currently trading at around R16.08 against the US dollar.

Commodities:  

• Gold futures have gained further momentum today, up by around 0.3% this morning, and currently trading at around $4992.73 per ounce.  
• Copper prices are trending -0.5% lower today, with prices currently around $57.764 per pound
• Silver futures have gained around 0.7% today, and currently trading around $75.587 per ounce.
• Platinum futures have dropped by around -1.46% this morning, losing some of the gains from yesterday, and currently trading at $2081.50, While Palladium prices have likewise seen a drop of -1.1% this morning, and currently trading around $1736.50 per ounce.
• Brent crude oil prices are trending upwards today, and currently at $70.52 with WTI trading higher at $65.34
• Cocoa futures have clawed back ground, up by 0.5% today, and currently trading around $3332.34 per ton. 
• Coffee futures are currently up by over 0.72% today, and currently trading at around $2.8520 per pound

Crypto Currencies: 

• Bitcoin prices are trending 0.7% higher today, and trading at around $66727 per coin currently 
• Ether prices are up around 0.65% today, and are currently trading around $1966.34
• $Trumpcoin are currently trading around $3.40

(All prices quoted at approximately 07H45 Central African Time) 

Africa News Briefs:

• Social media platforms in Gabon have been suspended “until further notice,” the country’s media regulator announced on Tuesday. A spokesperson for the High Authority for Communication said “defamatory, hateful and insulting content” is stoking conflict and division in society, resulting in the ban The authority hasn’t named specific social media platforms that will be included in the ban yet. The regulator said “freedom of expression, including freedom of comment and criticism,” remain “a fundamental right enshrined in Gabon.” However, President Brice Oligui Nguema is facing his first wave of social unrest since taking office last year, with teachers in the country striking since December over pay and conditions and protests have spread to other public sectors.
• At least 37 miners died of carbon monoxide poisoning at a mining site in Nigeria’s Plateau state yesterday, according to a Reuters report. The incident occurred at about 5:45 a.m. in a mining pit in Kampani, a community in the Wase area, according to the report. Another 25 miners were taken to hospital. Nigeria’s Minister of Solid Minerals Development, Dele Alake, said the area was an abandoned lead site with stored minerals prone to releasing toxic gases. Villagers, unaware of the toxic nature of the emissions, reportedly entered the tunnel to extract minerals and inhaled the gas, he said.