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MINUTE ECO 04-12-22 PM
(Sources: Archyde.com
At Burkina Faso, the Russian company Nordgold is closing its Taparko mine, citing force majeure and the deterioration of the security situation in the country. Nordgold says it faces increasing threats to its operations and staff with every passing day, according to the managing director of the Taparko Mining Company. “We therefore inform you of the cessation of our mining activities due to force majeure and for security reasons,” Chief Executive Alexander Hagan Mensa wrote in a statement seen by Archyde.com.
The World Trade Organization has revised down its forecast for world trade growth this year, to 3% from 4.7%, due to the impact of the war between Russia and Ukraine. “It is now clear that the twin shocks of the pandemic and the war have disrupted supply chains, heightened inflationary pressures and reduced growth expectations,” said Ngozi Okonjo-Iweala, chief executive of the‘OMC,.
The European Union is asking oil-producing countries to see if they can increase deliveries to help stem the spike in oil prices, said a European Commission official who attended the meeting with theOPEC in Vienna. Brussels underlines that OPEC has the responsibility to ensure the balance of the oil markets.