Breaking News Today – Wednesday 20 August 2025

Business & Tech News 

Australian Mining House in Major Malawian Rare Earth Investment

Lindian Resources announced a final investment decision for the construction of its Kangankunde rare earths mine in Malawi this morning. The funding, which includes a 20 million loan from Iluka Resources,follows a capital raise of US $59 million through a share placement, primarily subscribed by new shareholders. The company aims to have Malawi’s first rare earths mine in operation by the fourth quarter of 2026.

The financing was secured through the issuance of 435.7 million new ordinary shares at A$0.21 a piece. Lindian said strong demand from institutional investors in Australia and abroad allowed it to raise the necessary funds to cover the $40 million in construction costs for Phase 1. Concurrently, Iluka provided a five-year, $20 million loan and secured an offtake agreement to purchase 6,000 tonnes per year of monazite rare earth concentrate, totaling 90,000 tonnes over 15 years. The agreement includes a floor price above production costs and an extension clause for an additional 15 years.

ARM Mining Subsidiary Faces Closure

South Africa’n mining company Assmang, a joint venture between African Rainbow Minerals (ARM) and international miner Assore, is likely to close down its Beeshoek iron ore mine after failing to secure a contract to supply its only customer, steel producing group, ArcelorMittal South Africa. A notice to Unions yesterday had been circulated, and indicated that “Beeshoek proposes to discuss with the unions the potential closure of Beeshoek,” The closure of the mine in the Northern Cape Province of the country, could result in the loss of the current 688 jobs at the mine. This could have significant impact on the local economy in the province with the full supply-chain now at risk. ArcelorMittal South Africa had confirmed in June that it would not sign a three-year contract with Beeshoek despite earlier indications that it would do so, the miner said.

Morocco’s Inflation Edges Upwards

The annual inflation rate in Morocco accelerated to 0.5% in July 2025, up from June’s 12-month low of 0.4%. It marked the highest rate since April, driven primarily by a rise in food and non-alcoholic beverage prices, which increased by 0.9%—the sharpest gain in four months—compared to 0.8% in June. Inflation also accelerated for furnishings (0.8% vs 0.4%), alcoholic beverages and tobacco (3.5% vs 3.4%), and miscellaneous goods and services (1.5% vs 1.4%). Meanwhile, inflation held steady for housing and utilities (0.6%), clothing and footwear (0.7%), healthcare (0.2%), and education (2.3%). In contrast, inflation eased for restaurants and hotels (3.4% vs 3.8%), while transport prices declined at a slower pace (-2.9% vs -3.4%). On a monthly basis, consumer prices edged down 0.1% in July, following a 0.4% increase in June.

Business, Tech & Market News Shorts: 

• Ethiopia recorded $4 billion in foreign direct investment during its last fiscal year, marking a slight increase of 2.2% compared to the previous year. This trend is critical as the country prepares to restructure its $1 billion Eurobond after a payment default.
• Egyptian Banker Misr, has received official approval from the Central Bank of Egypt (CBE) to transform its subsidiary Misr Digital Innovation (MDI) into OneBank. This will be Egypt’s first fully digital bank.
• U.S. Commerce Secretary Howard Lutnick has confirmed the U.S. government is looking to secure a 10% stake in Silicon Valley major Intel, after yesterdays announcement that SoftBank had invested $2 billion in the ailing US chip manufacturer.
•  The Webb Space Telescope has spotted a new tiny moon orbiting Uranus. The new member of the lunar gang, announced Tuesday by NASA, appears to be just six miles (10 kilometers) wide. It was spotted by the telescope’s near-infrared camera during observations in February and brings the total Uranus moon count to 29. It has not been named yet.
• Equities on Hong Kong’s Hang Seng Index, dropped 105 points or 0.4% to 25,019 today in morning trade, slipping for the fifth consecutive session after a tech-led selloff on Wall Street ahead of the Fed’s July meeting minutes and the Jackson Hole meeting. Yesterday saw data released showing China’s youth unemployment hit an 11-month high of 17.8% in July, 

Markets by Numbers 

Currencies: 

Currency markets today indicate the US Dollar is currently trading stronger against the Euro at 1.16384 and against the Pound at 1.34808 The Yen is currently trading at 147.50 to the dollar. The rand (ZAR) is currently at R17.69 to the US dollar.

Commodities:

• Gold futures prices are currently trading marginally higher this morning, and currently at $3320.81 per ounce.  
• Copper prices are trading marginally lower today, with prices currently at $4.4212
• Silver futures prices are trading downwards today by almost -0,5%, and currently at $37.200
• Platinum futures are trading flat this morning, and are currently trading at $1305.50 While Palladium prices are -0.8% lower this morning and currently at $1088
• Brent crude oil prices are currently at $66.06, with WTI trading at $62.07 
• Cocoa futures are currently at $8015.33per ton. 
• Coffee futures are up by over 0,8%, and are currently trading at $359.13, up over 23% this week

Crypto Currencies:

• Bitcoin prices are currently at $122843 after hitting a new all time high earlier today.
• Ether prices are currently at $4745.75 
• $Trumpcoin is currently more than 5% higher today and trading around $9.83

(All prices quoted at approximately 07H30 Central African Time) 

Other Breaking News in Africa Today

Ex Malian Leader Charged with Embezzlement

Former Malian civilian Prime Minister, Choguel Kokalla Maïga has been charged with embezzlement of public funds, according to a statement by his lawyer yesterday. He was remanded in custody following a hearing before the country’s Supreme Court. No date has yet been set for his trial. Maïga served as Mali’s civilian head of government from June 2021, but was removed in November last year after publicly criticising the military Junta Leadership in the country. This stems from the failure of the military leadership to fulfil it promise of returning the country to civilian democratic rule after back to back military coups in 2020 and 2021. The Junta leaders replaced Maïga with a former government spokesperson, General Abdoulaye Maïga.