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Reuters

SARB independence not undermined – Marcus

1st December 2010 The independence of South Africa's Reserve Bank is not undermined by new economic growth proposals unveiled by the government last week, Governor Gill Marcus said on Tuesday. In a speech posted on the central bank's website, Marcus also said it was not always possible to achieve low, stable... 

03b Networks plans Africa internet rollout by 2013

29th November 2010 03b Networks, backed by Google, HSBC Principal Investments and cable operator Liberty Global, will launch high-speed Internet services Africa to tap into one of the world's potentially fastest growing markets. The company said on Monday it has secured $1,2-billion from investors and banks for... 

SA on right track with mines audit – AngloGold

29th November 2010 Cleaning up South Africa's scandal-tainted mining sector is no easy task but a six-month government audit of existing mineral licences is a welcome start, the head of the world's third-largest gold miner said. "There's been a lot of good work," AngloGold Ashanti CE Mark Cutifani told Reuters in... 

Miners should reflect on pricing – steel group

29th November 2010 The mining industry should consider allowing steelmakers to buy part of their iron-ore needs using annual pricing contracts, the world's top steelmaker ArcelorMittal said on Monday. "I strongly advocate that the mining industry reflects on short term pricing policy and develops an option for us... 

World Bank to help boost African power by 30 GW by 2016

29th November 2010 The World Bank is planning to coordinate funding for 30 gigawatts (GW) of new power generation in Africa over the next five years, a senior official said on Monday. "We are not going to finance everything ourselves, but how we can help leverage financing for that 30 gigawatts of additional... 

Court dismisses suit against food makers

26th November 2010 A South African court on Friday dismissed a class-action lawsuit against food makers Tiger Brands, Pioneer Food Group and privately owned Premier Foods charging price collusion. The lawyer representing the consumers and bread distributors who filed the suit against the companies said they would... 

India environment ministry hauls up two projects

26th November 2010 India's environment ministry asked two high-profile projects why it should not close them over possible violations of green rules, continuing an assertive break with tradition that has hit several multi-billion-dollar investments. Lavasa, a unit of Hindustan Construction Co which plans a... 

Canada brushes off allegations of Taseko leaks

25th November 2010 Canada's Conservative government brushed off allegations on Thursday that it had leaked sensitive information about Taseko Mines Ltd three weeks before Ottawa blocked the company from opening a major mine due to environmental concerns. The opposition Liberals, noting Taseko shares dropped by as... 

Peru ruling party wants to raise mining royalties

25th November 2010 Peru's ruling APRA party is trying to get a bill through Congress that would double royalties paid by mining companies as part of an effort to lift fiscal revenues in the country at a time of high metals prices. The bill, presented to the head of Congress this week, would raise the levy on... 

Oil edges lower as European debt concerns linger

25th November 2010 Oil edged lower on Thursday, after rising more than 3% a day earlier on strong US macro-economic data, as concerns about European debt lingered across financial markets. A surprise rise in US crude stocks last week also pressured prices. US crude for December shed 9 cents to 83,77 a barrel at... 

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