R/€ = 15.48 Change: -0.02
R/$ = 13.28 Change: -0.02
Au 1227.63 $/oz Change: -16.48
Pt 818.00 $/oz Change: -11.27


Tanzania-Zambia power interconnector ready 2011/12

28th October 2010 A link for two power pools in southern and east Africa should be operational by 2012, helping stabilise output regionally and cutting prices, a top Southern African Development Community (SADC) official said on Thursday. Joao Cahalo, deputy executive secretary of SADC said a power pool was... 

Anglo says could develop projects worth $50bn

28th October 2010 Anglo American Chief Executive Cynthia Carroll said on Wednesday the global miner could develop long-term projects worth $50-billion across a wide range of minerals in several countries. Carroll told a discussion forum in Johannesburg some of these projects were in South Africa, Australia, Chile... 

Harmony sees FY 2011 capex at about R3,4bn

25th October 2010 South Africa's Harmony Gold, betting on boosting its output through low-cost acquisitions and partnerships, plans to spend nearly $500-million on capital expenditure in the 2011 financial year. Harmony, the world's fifth-largest gold miner, said in its annual report released on Monday that it... 

China, Brazil eye coal rail, ports in Colombia

25th October 2010 Colombian President Juan Manuel Santos said on Saturday that China and Brazil were eyeing investments in the Andean nation's coal infrastructure to gain more access to the material. Colombia, the world's No. 5 coal exporter, has seen a five-fold increase in foreign investment, especially in oil... 

Palladium highest in nearly a decade as dollar slumps

25th October 2010 Palladium hit its highest point in nearly a decade on Monday as the dollar suffered another setback following weekend comments at the G20 meeting, and as investors awaited a speech by Federal Reserve chairman Ben Bernanke. Spot palladium rose nearly 5% to $617,50/oz, its highest point since June... 

WTO delays ruling in rare earths dispute to April

22nd October 2010 The World Trade Organization will not publish a ruling in a dispute brought against China over exports of rare earths – vital for hi-tech goods from car parts to electronics – until next April instead of this year, a WTO document showed on Friday. A statement by the chairman of the panel... 

EU revises 2013 industry carbon cap to 2 039 bn tons

22nd October 2010 The European Commission put a slightly higher cap on greenhouse gas emissions from heavy industry in 2013, announcing on Friday a limit of 2 ,039 152 882 t of carbon dioxide under its Emissions Trading Scheme. The revised figure for industries regulated under the scheme includes new industry... 

Freeport confirms Tenke contract finalised in DRC

22nd October 2010 Freeport McMoRan said on Friday that it has completed a protracted contract review with the Congolese government over its $2-billion Tenke Fungurume copper and cobalt project. The agreement sees Freeport McMoRan and partner Lundin Mining slightly water down their share of the project and ends a... 

Brazil holds up mining bill, eyes royalty change

21st October 2010 Brazil's government will likely wait at least until the next administration takes office in 2011 before changing a mining law and discussing a possible royalty hike, a government official told Reuters. Both moves could potentially deteriorate the investment climate in Brazil's mining industry.  

Gordhan wary on growth, wage hikes

21st October 2010 South Africa's economy may expand slightly faster this year than was forecast in February, but mid-term growth rates look set to fall short of government aspirations, Finance Minister Pravin Gordhan said. In a written response to questions in parliament, Gordhan also said recent above-inflation... 


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