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JSE resource listings plunge 50% in last 20 years, total market cap at R2.82tr

By: Chantelle Kotze Although the resource listings on the JSE have declined significantly over the last 20 years, from 130 listed mining companies in 1994 to only 66 basic resource companies (in the mining and industrial metals, as well as the mining sectors), the total market capitalisation of mining companies... 

JSE resource listings plunge 50% in last 20 years but total market cap now a massive R2.82-trillion

By: Chantelle Kotze Although the resource listings on the Johannesburg Stock Exchange (JSE) has declined significantly over the last 20 years, from 130 listed mining companies in 1994 to only 66 basic resource companies today (including mining sectors and industrial metals and mining sectors), the total market... 

SEC probe has no immediate impact on Gold Fields rating – Moody’s

By: Natalie Greve Ratings agency Moody's Investors Service has said that an investigation by the US Securities and Exchange Commission (SEC) into a 2010 black economic-empowerment (BEE) deal by Gold Fields will have no immediate impact on the South African gold miner’s credit ratings. The agency said in a... 

Moody’s downgrades Newcrest’s credit rating

By: Henry Lazenby TSX- and ASX-listed Newcrest Mining on Monday said ratings agency Moody's announcement that it had revised its credit rating from Baa2 to Baa3 with a negative outlook was not expected to impact on its existing debt arrangements. Newcrest confirmed that there were no triggers in its existing debt... 

Akin to railroads of the 1880s, oil pipelines poised to spur Canadian growth  

By: Henry Lazenby Canada is expecting a boom in oil production from its prolific Alberta oil sands deposits; however, production from the world’s third-largest proven oil reserves, after Saudi Arabia and Venezuela, is hampered by a lack of sufficient transport to markets, resulting in lower prices for Canadian... 

Akin to railroads of the 1880s, oil pipelines poised to spur Canadian economic growth

By: Henry Lazenby Canada is expecting a boom in oil production from its prolific Alberta oil sands deposits; however, production from the world’s third-largest proven oil reserves, after Saudi Arabia and Venezuela, is hampered by the lack of sufficient transport to markets, resulting in lower prices for Canadian... 

Quebec oil train derailment likely to increase costs, regulatory burden

By: Henry Lazenby Following last week’s fatal derailment and explosion of a fully laden oil train, which partially destroyed the town of Lac-Mégantic, in Quebec, Canadian and US authorities were expected to increase the regulatory burden on rail shipments of crude and petroleum products. This could result in... 

Water scarcity could increase ratings pressure on mining companies – Moody’s

Ratings agency Moody’s Investor Service on Thursday warned that environmental factors, such as water scarcity, could adversely impact on the ratings of global mining companies if they failed to proactively manage the accompanying operational and political risks to their businesses. In its ‘Global... 

Value of WA-listed firms down as commodity prices fall

The market capitalisation of Western Australia listed companies that comprise the Deloitte WA Index decreased 11.5% during May to A$145.4-billion, mirroring the downward pressure experienced by the global equity markets. “The fall in the market capitalisation was driven largely by decreases in... 

Eskom says credit warning shows cost-reflectivity push still needed 

By: Terence Creamer Rating agency Moody’s description of the recent decision to lower Eskom’s 2012/13 tariff increase by 9.9 percentage points, from 25.9% to 16%, as being “credit negative” for the utility reinforced the need for South Africa to continue its move towards cost-reflective tariff levels, the... 

Gold Fields targets further diminution of SA production dependence

By: Martin Creamer South African gold major Gold Fields has told an international audience that it is targeting a further diminution of South African production dependence. In a presentation to the Denver Gold Forum in the US, Gold Fields CEO Nick Holland displayed a pie chart that put South African production at... 

India explores flow-through, July’s mining output down, rewarded for being less SA

By: Martin Creamer India’s Ministry of Mines is working on a flow-through share option; mining output in South Africa fell for the third consecutive month in July; ratings agency Moody's has patted Gold Fields on the back for being less South Africa.  

Gold Fields’ credit rating up on diminishing South Africa dependence

By: Martin Creamer Ratings agency Moody's has upgraded the credit status of Gold Fields owing to the gold miner’s diminished dependence on South Africa. Moody’s has changed its outlook for Gold Field's Baa3 rating to positive from stable, opening the way for the company to obtain funding at marginally cheaper rates. 

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