Breaking News Today – Tuesday 25 November 2025

Business News Today

Dangote Inks Deal with Honeywell

Nigeria’s Dangote oil refinery, has inked an agreement with Honeywell, the industrial automation and tech group, to provide services aimed at doubling its already impressive refining capacity to 1.4 million barrels per day by 2028. The move is the clearest indication yet that Aliko Dangote, Africa’s top industrialist’s plans to become the world’s largest petroleum refinery are being accelerated.The agreement will allow Dangote to process a broader range of crude grades to help support the planned expansion in output with the help of Honeywell’s catalysts and equipment, the companies announced on Tuesday. The Dangote refinery was commissioned in 2022 and hit its peak of 650 000 barrels of refined petroleum by April 2025, positioning the Nigerian oil industry into a major refined oil exporter and creating thousands of new jobs.

Mali Gold Mine Dispute Resolved

Canadian miner Barrick Mining, according to a Reuters report,  has finalised an agreement with Mali’s government to resolve all their disputes over the Loulo-Gounkoto gold mining complex since 2023. The long-standing dispute was due to the implementation of a new Mali mining code, by the Malian military junta government, that raised taxes and gave the government an ownership share of gold mines. The miner, said it will drop its arbitration case against Mali at the World Bank dispute tribunal. In return, Mali will drop all local charges against Barrick and its affiliates, release the employees that had been detained, and give back operational control to the Canadian mining group.

Uber South Africa Goes Electric

South African hailing mobility service Uber, has unveiled its newest fleet of fully electric vehicles. Uber announced the launch of Uber Go Electric, its first fully electric product in South Africa, operated through fleet partner Valternative. The aim of the new fleet is that Uber Go Electric, will improve the economics of Uber driver earnings by removing one of the biggest pressures on drivers: fuel costs.

With lower operating expenses, fewer mechanical issues, and more predictable running costs, Uber anticipates that drivers can retain a greater share of their income and plan their work with greater confidence. Riders, in turn, benefit from quieter, more comfortable trips at an affordable price point, while cities, should in time, gain from reduced emissions and congestion as electric mobility becomes more commonplace. commenting at the launch in Johannesburg, Deepesh Thomas said,“Our goal is simple, “To build mobility that is accessible, sustainable, and proudly built for Mzansi.”

Approval of EVA Copper Mine Development by Harmony

Harmony Gold Mining Company Limited, has announced the completion of its Feasibility Study and the approval of the Final Investment Decision (FID) by the Board of Directors for the Eva Copper Project in Queensland, Australia. The 100%-owned, high-margin, long-life asset located in Northwest Queensland, is expected to produce approximately 65 000 tonnes of copper in concentrate per year during the first five years, with an expected life-of-mine average production profile of around 60 000 tonnes of copper and 19 000 ounces of gold per annum.

This, according to a release from Harmony, will be achieved by processing on average 18 million tonnes per annum of ore over its currently estimated 15-year mine life, at an attractive margin with an all-in sustaining cost (AISC) of approximately US$ 2.50/lb. This development is now set to deliver robust cash flow generation at strong margins over the life of this asset. Project capital is estimated at US$1.55 billion (AUD2.3 billion) to US$1.75 billion (AUD2.6 billion).

Breaking News Shorts: 

• Brent crude oil futures fell toward $63 per barrel this morning, trimming gains from the previous session, as prospects for a Russia-Ukraine peace deal continue to dominate market sentiment. Reports suggest that the US-proposed 28-point peace plan aimed at ending the Ukraine war has been reduced to 19 points after discussions in Switzerland
• The US administration has unveiled the “Genesis Mission” as part of an executive order he signed by US president Trump yesterday that will task the Department of Energy and national labs to build a digital platform to concentrate the nation’s scientific data in one place. The project will seek private sector and university partners to use their AI capability to help the government solve engineering, energy and national security problems, including streamlining the nation’s electric grid, 
• Passenger car registrations in the European Union increased 5.8% year-on-year to a four-month high of 916,609 units in October 2025, following a 10.0% rise in September. This marked the fourth consecutive month of growth, with three of the EU’s four largest markets recording gains. 
• Gold prices rose to around $4,140 per ounce this morning, building on gains from the previous session as expectations for a US interest rate cut next month increased further after dovish Fed signals. Bullion surged nearly 2% on Monday after Fed Governor Christopher Waller reiterated his support for a December cut, citing persistent weakness in the US labor market. 

Markets by Numbers 

Currency markets indicate the US dollar marginally softer today, with the Euro trading against the US dollar at 1.15418 while the Pound is trading at 1.30916 to the US dollar. The Yen is currently trading at 156.73 to the dollar. The rand (ZAR) is currently at R17.29 to the US dollar.

Commodities:  

• Gold futures have gained around 0.3% today, and are currently trading around $4146.26 per ounce.  
• Copper prices are trending over 1% higher today, with prices currently around $5.0562
• Silver futures prices are up by 0.55% this morning, and currently trading around $5.1653
• Platinum futures have gained over 0.7% this morning, and currently trading at $1556.50, While Palladium prices are 0.78% up this morning and are currently trading around $1413.00 per ounce.
• Brent crude oil prices are sliding today after gains yesterday, and currently at $63.08 with WTI trading lower at $58.63
• Cocoa futures are marginally higher this morning, and currently trading around $5090.00 per ton. 
• Coffee futures have surged over 2% higher this morning, and are currently trading at around $4.0855 per pound

Crypto Currencies: 

• Bitcoin prices are trading at around $88168 per coin currently 
• Ether prices are trending over -0.7% lower today, and are currently trading around $2933.01
• $Trumpcoin are trending lower today, and currently trading around $6.303

(All prices quoted at approximately 07H55 Central African Time) 

Africa News Briefs:

• The Hayli Gubbi volcano in northern Ethiopia erupted on Sunday for the first time in almost 12,000 years, sending ash plumes up to 14 kilometres into the sky, and across the Red Sea toward Yemen and Oman. The volcano, located in the Afar region of Ethiopia, erupted for several hours on Sunday leaving the neighbouring village of Afdera covered in ash. Local administrator Mohammed Seid said there were no casualties but he feared the eruption’s economic implications for the local community of livestock herders. “While no human lives and livestock have been lost so far, many villages have been covered in ash and as a result their animals have little to eat,” Seid said.
• Gambia authorities have confirmed the country was temporarily hosting Cameroonian opposition leader Issa Tchiroma Bakary. This follows a disputed election in his country saw longtime President Paul Biya win an eighth term, triggering deadly protests.Gambia’s Ministry of Information said in a statement Sunday that Tchiroma arrived in the small West African country on Nov. 7 and is being hosted “purely on humanitarian grounds” and for “the purpose of ensuring his safety.” The statement added that Gambia was working with regional partners like Nigeria to “support a peaceful and negotiated outcome” to the post-election tensions in Cameroon.