R/€ = 14.72 Change: 0.00
R/$ = 11.98 Change: 0.00
Au 1317.97 $/oz Change: 0.00
Pt 956.60 $/oz Change: 0.00


Zimbabwe vote crisis may hurt '08 platinum output

19th May 2008 Platinum supplies from Zimbabwe rose 2,3% to 171 000 oz last year, but a disputed election may damage output this year, metals refiner Johnson Matthey (JM) said on Monday. JM said the dispute over the outcome of an election in March, and further escalation of a power crisis in South Africa, the... 

Power disruptions to cut Zambia mine tax earnings

19th May 2008 Zambia is unlikely to collect a projected $415-million from new mining taxes this year because of disruptions in power supply, which cut production in the copper and cobalt mines, a senior official said. The new tax regime, which came into effect on April 1, increased mineral royalty to 3... 

MTN sells stake in Cyprus unit

19th May 2008 Cyprus Trading Corp (CTC) agreed to buy up to 50% of local mobile telephone operator Areeba from South Africa's MTN, CTC said on Monday. CTC said the deal would see it gradually build up a 50% shareholding. The agreement was brokered with Areeba, which trades as MTN Cyprus, through Amaracos... 

Oil rallies to new high near $128

16th May 2008 Oil shot to a record high near $128 on Friday after Goldman Sachs, the most active investment bank in energy markets, raised sharply its forecast for prices. US crude hit a peak of $127,82 and was trading at 127,70, up $3,58, by 13:23 GMT. 

US firm to rehabilitate airport in Mozambique

16th May 2008 US-based Ayr Logistics, which is building a $5,5-billion oil refinery in northern Mozambique, said on Friday it would spend $80-million to turn a nearby airbase into a commercial airport. "We are going to rehabilitate the Nacala airport so that we can start commercial aviation as well as... 

Botswana April inflation quickens to 11,1%

16th May 2008 Botswana's consumer price inflation rate quickened to 11,1 percent year-on-year in April from 9,8 percent in March, the highest monthly increase since October, official figures showed on Friday. The Bank of Botswana said in a statement on its Web site the increase was mainly due to higher... 

Katanga enforces cobalt concentrate export ban

16th May 2008 Democratic Republic of Congo's mineral-rich Katanga province is enforcing a suspension of cobalt concentrate exports, the provincial governor said on Friday. "No one is getting through now," governor Moise Katumbi told Reuters. He had announced this week the suspension would start... 

UN slashes world growth forecast for this year

16th May 2008 The United Nations on Thursday sharply curtailed its forecast for world economic growth this year because of worsening US housing and credit markets. In a midyear update of its annual economic survey, the world body predicted a rise in global gross domestic product of just 1,8 percent in 2008,... 

SA can't afford sharp power price hike - ANC

16th May 2008 South Africa's economy cannot afford a sharp electricity price increase, a leader of the ruling ANC said on Friday, adding the state power utility should not be allowed to use pricing to make up past losses. As part of efforts to tackle power shortages and fund an infrastructure expansion... 

Oil near $125 on heating oil supply strain

16th May 2008 Oil rebounded to near $125 a barrel on Friday, led by the bullish heating oil market as China and Europe scramble for barrels, thinning global supply. US crude for June delivery rose 74 cents to $124,86 a barrel by 04:31 GMT, just 1,7 percent below Tuesday's all-time peak of $126,98. 


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