R/€ = 16.66 Change: 0.03
R/$ = 14.40 Change: 0.12
Au 1196.10 $/oz Change: 7.74
Pt 795.50 $/oz Change: 0.57


World Jan steel output drops 24%, EU off 46%

23rd February 2009 Global steel output plunged 24% in January, year on year, as the worldwide economic downturn forced a cutback in nearly all major steel producing countries, official data showed at the weekend. The World Steel Association said crude steel output fell to 86-million tons in January. All major... 

Zimbabwe seeks SA help with rand - Tsvangirai

19th February 2009 Zimbabwe is engaging South Africa over using its neighbour's rand currency to boost foreign exchange liquidity, Prime Minister Morgan Tsvangirai said on Thursday. South African President Kgalema Motlanthe said earlier this month that Zimbabwe, grappling with inflation which has spiralled to over... 

Oz Minerals jumps 29% after China takeover bid

17th February 2009 Shares in Oz Minerals, the world's second-largest zinc miner, jumped 29% on Tuesday after it agreed to a $1,7-billion takeover bid from Chinese state-owned trading group Minmetals. The deal is a rescue for the Oz Minerals business, which has struggled to refinance debts as prices for its main... 

Chile '08 copper output at 5,33Mt - Cochilco

16th February 2009 Chile, the world's largest copper miner, produced 5,33-million tons of the red metal in 2008, 4,1% less than in 2007, the Chilean Copper Commission (Cochilco) said on Monday. Cochilco said in a report that Chile exported 5,405-million tons of copper last year, or 4,7% less than in the previous... 

US auto suppliers seek $18,5bn in govt aid

16th February 2009 US auto suppliers submitted a formal request to the US Treasury on Friday for $18,5-billion in emergency funding to avoid a wave of bankruptcies and a deeper crisis in the auto industry. The request, which was submitted by two industry groups, outlined three proposals for financial relief. The... 

G7, IMF fret about emerging market finance gaps

16th February 2009 The IMF and Group of Seven industrialised countries are worried about growing financing gaps in emerging markets which may send more of the countries to the lender seeking cash. Several officials aired their concerns about short-term debt payments this year at a meeting of G7 finance ministers... 

Namibia to invest $910m in energy projects

12th February 2009 Namibia, a producer of gold, diamonds, uranium and copper, is investing around $910 million in energy projects as rising demand with mine expansions in the country threatens to outstrip supply. The south west African country faces a shortfall of power and imports electricity from neighbouring... 

Angola urges investors to keep faith in economy

12th February 2009 Angola is urging investors who have contributed to rebuilding the country's war-damaged economy to keep faith as the global economic crisis begins to take its toll. Aguinaldo Jaime, head of the national investment agency ANIP, said a sharp drop in the price of oil, Angola's main export, would... 

Inflation seen back in target range in H1 '09

11th February 2009 South Africa's inflation is expected to fall back to within a target range in the first half of this year, the Treasury said on Wednesday, allowing for further interest rate cuts to stimulate economic growth. The central bank increased its repurchase rate, at which it lends to commercial banks... 

Tanzania, Zambia mull privatising co-owned railway

10th February 2009 Tanzania and Zambia are considering privatising a railway they jointly own that hauls the bulk of Zambia's copper exports to the coast, the leaders of the two African nations said on Tuesday. The 39-year-old Tazara line was built with Chinese aid and once thrived as a monopoly under the two... 


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