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Ghana to buy oil with gold instead of US dollars
Ghana is putting together a proposal to acquire oil products in exchange for its gold, with the strategy being to reduce the expenditure of its US currency reserves. Vice president of the African nation Dr Mahamudu Bawumia announced the proposal on 24 November via his Facebook platform. If it moves ahead, the policy is set […]
China moves to buy oil and gas using yuan instead of US dollars
China is rolling-out plans to acquire oil and gas products in exchange for yuan, instead of US dollars, from top producers in the Arabian Gulf. These plans were unveiled by China’s President Xi Jinping at a summit held in Riyadh, Saudi Arabia last Friday. Hosting the talks was Saudi Crown Prince Mohammad bin Salman who […]
Peru copper production hit amid ongoing protests
Operations at Chinese entity Minerals and Metals Group’s (MMG) Las Bambas mine in Peru remain suspended as local communities protest “years of broken promises” – exacerbating existing political tensions in the country. As the world’s second largest copper and zinc producing country, Peru’s copper output in 2021 was 2.3 million tonnes. The Las Bambas copper […]