China’s data disappoints, as oil prices fall – Nairametrics


China, the second-largest oil consumer globally, posted a slightly poor economic report which clouded the fuel demand outlook in the near term. An earlier report by Caixin showed China’s manufacturing purchasing managers’ index (PMI) was 50.3 in July, lower than expected. On Saturday, manufacturing and nonmanufacturing PMIs came in at 50.4 and 53.3 respectively. Business … Read more

Gold mining: Segilola mine produces first gold output, targets 85,000 ounces a year – Nairametrics


Segilola Gold Mine, Nigeria’s first and largest industrial-scale gold mine owned by the Canadian mineral exploration company, Thor Explorations Limited poured its first gold from the mine in Osun state on Friday. This was disclosed in a statement by Thor Explorations, reported by Bloomberg. This represents a major step towards diversifying and maximizing Nigeria’s gold … Read more