Increases to $33, 100 per tonne on London Metal Exchange. Cobalt has recorded a Significant demand on the London Metal Exchange (LME) trading at US$33,100 per tonne, representing 14.14 percent spike from US$29,000 recorded two weeks ago.
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GOVERNMENT will not lock down the country in view of the increased cases of COVID-19 cases and deaths because it can have serious effects on the economy. President Edgar Lungu says the coronavirus pandemic has continued to pose a serious challenge to the country’s development path because it has exerted unexpected pressure on a number of sectors of the economy and the national treasury. The head of State was speaking at State House yesterday when he received a quarterly progress report from members of the economic diversification and job creation cluster. Members of the cluster are ministers of Tourism Ronald Chitotela, Agriculture Michael Katambo, and Mines Richard Musukwa. Read more
Global restrictions on travel have dealt a devastating blow to African nations who depend on tourists and their hard currency to support an industry that employs millions of people on the continent. National carriers in Mauritius, Kenya and Namibia ran into more financial trouble as flights were grounded. In South Africa, listed hotel group, Sun International Ltd., announced two of its casinos won’t reopen after the country’s coronavirus lockdown ends. The Kenyan government expects losses of as much as $511 million in hotel-room revenue if the pandemic persists. The following charts show the importance of the tourism sector to parts of the continent, as well as the pain lockdowns to curb the spread of the virus have caused.