Moody's assigns Gold Fields investment grade credit rating

The world's fourth largest gold producer, Gold Fields, on Friday announced that Moody's had assigned a first-time ‘Baa3' senior unsecured issuer rating to the miner, together with a stable outlook. Moody's indicated that the rating was given to...

Analysts expect sweetened Potash Corp bid, mixed on rival offer

The general consensus on Tuesday was that BHP Billiton will have to pay quite a bit more than the $130 a share it has proposed if it wants to get its hands on fertiliser products giant Potash Corp. In fact, investors pushed shares in Potash Corp...

Mine dispute, poll fears raise Congo risk premiums

Democratic Republic of Congo's political risk insurance premiums have risen 40 percent since a dispute over mining licences and are set to rise further as 2011 elections approach, a leading African insurance agency said. The central African...

Teck raised to investment grade by S&P

Standard & Poor's Ratings Services (S&P) has raised its long-term corporate credit rating on Teck Resources to investment grade. The company was raised to 'BBB', with a stable outlook, from 'BB+', after its financial risk profile improved...

AngloGold assigned ‘stable’ ratings outlook

Gold-miner AngloGold Ashanti on Friday announced new investment grade ratings assigned to it by Moody’s Investors Service and Standard & Poor’s (S&P’s). The ratings agencies both forecast a stable outlook for the gold-mining group, with...

Mining chamber says SA power hikes will add strain, but in line with expectations

The National Energy Regulator of South Africa (Nersa) has approved a nominal Eskom power tariff increases of 24,8% as from April 1, 2010, and subsequent increase of 25,8% and 25,9% for 2011/12 and 2012/13 respectively, chairperson Cecilia Khuzwayo...

S&P launches global base metals index

Index compiler Standard & Poor's (S&P) on Thursday launched its new S&P/TSX Global Base Metals Index, which aims to provide investors with an investable index of global securities involved in the production or extraction of base metals. The new...

Base-metals outlook remains weak, gold price seen improving

Base-metals prices would likely remain weak in the short term, while the gold price would continue to improve towards the end of this year, analysts said on Monday. Ratings agency Standard & Poor’s (S&P’s) has revised the outlook for metals...

Teck gets room to breathe, debt still number 1 priority

Canadian miner Teck Cominco has bought itself some time on at least $4,4-billion of loan payments that were due this year, but management's efforts remain squarely focused on reducing the firm's debt and especially refinancing what remains of a...

S&P’s assigns Gold Fields investment grade credit rating

JSE-listed gold producer Gold Fields has been assigned a ‘BBB-/A-3’ long-term and short-term global corporate credit rating from Standard and Poor’s rating services, and a ‘zaA/zaA-1’ long-term and short-term South African national scale...

S&P’s places Anglo American’s ratings on CreditWatch negative

Ratings agency Standard & Poor’s has placed diversified giant Anglo American’s ratings on CreditWatch negative, owing to the market downturn. Anglo American’s ‘A-/A-2’ long- and short-term corporate credit rating had been placed on...

Brazil’s Vale confident about long-term resilience of minerals markets

Brazilian mining, logistics and energy group Companhia Vale do Rio Doce (Vale) has revealed that it expects to start exporting coal from its Moatize project in Mozambique during 2011. The group has also reaffirmed its confidence in the future.