R/€ = 15.50 Change: 0.00
R/$ = 13.24 Change: 0.03
Au 1239.46 $/oz Change: -2.10
Pt 821.50 $/oz Change: -10.93


Africa's water funds threatened by economic crisis

27th November 2008 African water services must raise billions of dollars from the private sector annually to meet rising demand and UN development goals as the global financial crisis threatens investment, experts said on Wednesday. Hundreds of millions of Africans have no clean water and, in some countries, the... 

Zambian firm reduces power supply to copper mines

26th November 2008 Zambia has cut by 16% the 540 MW power supplied to its copper mines after state utility Zesco rationed power following the shutdown of a major transmission line for repairs due to last one month. The Copperbelt Energy Company (CEC), the sole distributor of power to the mines, said it had reduced... 

Gold hits 5-week high, financial crisis fuels demand

24th November 2008 Gold jumped to a five-week high on Monday as investors piled in seeking safety from financial uncertainty after the United States unveiled a $300-billion rescue package for banking giant Citigroup. Autocatalyst precious metals platinum and palladium, tracking gold, rose 5% and industrial metal... 

Oil rises above $50, OPEC cut eyed

24th November 2008 Oil rose 1,3% to above $50 a barrel on Monday, giving up early gains, as worries over the global economy returned to the fore centring on Citigroup's ability to survive, but hopes OPEC might cut output again as early as this week helped buoy prices. US light crude for January delivery rose 67... 

Chile Molymet sees molybdenum around $10/lb in 2009

21st November 2008 Chile's Molymet, one of the world's top processors of molybdenum concentrates, on Friday forecast the price of the metal used to harden steel would remain around $10 per lb in 2009, and that demand would fall 20 percent next year. "When it rains, everything gets wet. There is a significant... 

Sumitomo Corp to buy Bolivia mine from Apex Silver

17th November 2008 Sumitomo Corp, Japan's third-biggest trading house, said it has reached a basic agreement to buy Apex Silver Mines' interest in a Bolivian mine in a deal worth $22,5-million. The purchase of the San Cristobal mine comes amid a plunge in Apex shares and falling metals prices, and analysts said... 

Telkom's interim profit edges up on Vodacom

17th November 2008 South African telecoms firm Telkom posted a 0,4% rise in first-half headline earnings per share thanks to strong growth at its mobile unit Vodacom. Telkom said on Monday its headline earnings per share (EPS) rose to 745 cents per share for the six months to end-September and revenue increased... 

Vale CEO sees no price negotiations without ore demand

6th November 2008 The chief executive of Brazilian iron-ore miner Vale, Roger Agnelli, said Thursday he sees no start to term price negotiations with steel companies until the global financial crisis eases and normal demand for ore returns. "The problem today is not price, the problem is demand," Agnelli told... 

Gold extends losses on dollar, eyes rate cut, data

6th November 2008 Gold extended a 2-percent drop in New York on Thursday, erasing some of this week's gains, as the US dollar rose against the euro ahead of an expected rate cut and reduced bullion's appeal as an alternative investment. Dealers awaited the release of US nonf-farm payrolls data on Friday, which... 

Oil extends decline below $65 on economic woes

6th November 2008 Oil fell below $65 a barrel on Thursday, extending its 7% overnight drop, weighed down by a strengthening dollar and as dismal economic data in the United States sharpened fears of a deep and lasting global recession. Growing US fuel stockpiles, which underscored slackening oil demand, and a... 

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