R/€ = 18.05 Change: 0.14
R/$ = 15.98 Change: 0.08
Au 1782.54 $/oz Change: 12.84
Pt 937.50 $/oz Change: -7.00

Latest Videos

Daily podcast – June 18, 2008 

By: Shannon de Ryhove     18th June 2008 In today's podcast: the Bureau for Economic Research said it's most recent survey of the manufacturing sector revealed a gloomy industry, the South African Chamber of Commerce and Industry reported that trade conditions remained depressed in May, and, PricewaterhouseCoopers said that... 

Miners cautioned to watch expenses as costs eroded 2007’s revenues 

By: Chanel de Bruyn     17th June 2008 While commodity prices were expected to remain strong in 2008, professional services firm PricewaterhouseCoopers (PwC) said on Tuesday that it was expecting prices to taper off slightly, and that some companies would come under pressure if they did not watch input and operational costs.... 

Daily podcast – June 17, 2008 

By: Shannon de Ryhove     17th June 2008 In today's podcast: Tito Mboweni says a s6% rise in electricity tariffs would be reasonable, it is expected that the contracts for the upgrading and widening of the R21 highway will be awarded in August, and, Rio Tinto will invest $371-million to automate its iron-ore railways in the Pilbara... 

Daily podcast – June 13, 2008 

By: Jonathan Faurie     13th June 2008 In today's podcast: Eskom says that it will begin quoting customers for new connections or upgrades above 100 kVA, OR Tambo International remains confident that it will see positive growth in its traffic volumes despite the escalating price of oil, and BRC DiamondCore signs a letter of... 

Daily podcast – June 12, 2008 

By: Shannon de Ryhove     12th June 2008 In today's podcast: recruitment problems and long-lead times were threatening to delay power utility Eskom's wind energy project, South Africa's business confidence declines further in the second quarter of the year, and Cosatu will start a campaign of rolling mass-action next... 

Bankers still keen to finance mining projects, despite global credit crunch  

By: Matthew Hill     11th June 2008 The global credit squeeze was not impacting on Rand Merchant Bank's (RMB's) and the Development Bank of South Africa's (DBSA's) appetite for financing mining projects, but was pushing up the costs of financing, a banker said on Wednesday. This came in the wake of repeated... 

Daily podcast – June 11, 2008 

By: Shannon de Ryhove     11th June 2008 In today's podcast: a new World Bank-commissioned report states that economic growth in developing countries remains robust, South African government should help pay for power utility Eskom's expansion plan says the energy regulator, and the gold-mining industry had "fallen flat... 

Miners should position themselves for even bigger China resources assault 

By: Matthew Hill     10th June 2008 Mining companies needed to look strategically and systematically at how they could benefit from opportunities that resource-hungry China's increasing growth as global resources player presented, an expert on that country said on Tuesday. Speaking at the ‘Africa Mining Congress'... 

Ontario royalty trebling slammed but commentator claims De Beers can get it all back  

By: Martin Creamer     10th June 2008 South Africa-Canada Chamber of Business president Bruce Shapiro has rebuked the government of Ontario for raising its diamond royalty base in spite of two premiers assuring De Beers that it would remain unchanged. 

Gold mining ‘fallen flat on its face' as investment, says DRDGold CEO Sayers 

By: Martin Creamer     10th June 2008 The gold-mining industry had "fallen flat on its face" as far as return of capital to shareholders is concerned, says DRDGold CEO John Sayers. 

Daily podcast – June 10, 2008 

By: Shannon de Ryhove     10th June 2008 In today's podcast: Busa calls on government to created a favourable regulatory environment for the private sector to invest in electricity supply, Telkom will add an extra R2-bn to its R30-bn capex programme, and Buyelwa Sonjica says SA will maintain power supply to some mines at 95% of... 

Daily Podcast - June 09, 2008 

By: Shona Kohler     9th June 2008 In today's podcast: FitchRatings indicates it is likely to downgrade Eskom if it fails to secure a 60% tariff increase, Competition Tribunal chairperson David Lewis expresses concern about a 'personal liability' provision in the Draft Competition Amendment Bill, and Impala Platinum... 

Revived old Joburg gold mines may begin producing earlier, from bigger resource 

By: Leandi Kolver     6th June 2008 The remining of Johannesburg – 122 years after George Harrison’s initial 1886 gold discovery – is now poised to begin sooner than expected and involve a bigger resource than originally announced, Mining Weekly understands. The London- and Johannesburg-listed mining company,... 

Daily Podcast - June 6, 2008 

6th June 2008 In today's podcast: Alstom alerts Eskom that China quake has potential to impact turbine order, intellectual property seen raising Africa revenues and barring more power shocks in South Africa, there is slim chance of new platinum high this year 

Pit redesign increases Infrasors mine’s operating life to 28 years  

By: Guy Copans     6th June 2008 The pit redesign at resources company Infrasors Holding’s Lyttelton Dolamite mine, in Pretoria, has nearly tripled the life- of-mine, increasing it from 12 years to 28 years, and possibly even more, says Infrasors CEO Le Roux Roets. 

Revived old Joburg gold mines may begin producing earlier, from bigger resource 

By: Leandi Kolver     6th June 2008 The re-mining of Johannesburg - 122 years after George Harrison’s initial 1886 gold discovery - is now poised to begin sooner than expected and involve a bigger resource than originally announced, Mining Weekly understands. 

Daily Podcast - June 5, 2008 

5th June 2008 In today's podcast: a new rail link may soon connect Cape Town’s business area with the airport, African ports lack capacity to meet growing demand and Norilsk shelves Botswana Tati Activox plan on cost worries. 

Daily Podcast - June 4, 2008 

4th June 2008 In today's podcast: Eskom pores over first 15 cogeneration bids and is still hoping for 3 000 MW, new vehicle sales slow to lowest level since 2004, and Barrick's Sokalsky says Industry needs $700/oz gold price to stay afloat. 

Daily Podcast - June 3, 2008 

By: Hilary Klopper     3rd June 2008 In today's podcast: local government kicks off a two-day climate change summit, Nersa to hold public hearings to consider proposed Eskom wind farm, and world coal shortfall is expected to last at least two or three years. 

Daily podcast – June 2, 2008 

By: Shannon de Ryhove     2nd June 2008 In today's podcast: a South African-designed, battery-operated passenger car is to be unveiled early next year, diesel will be 73% higher year-on-year next Wednesday when prices increase by 71c, and Zambia will increase power rationing to domestic consumers while supplies to mines will be... 

Daily podcast – May 30, 2008 

By: Guy Copans     30th May 2008 In today's podcast: Eskom CEO Jacob Maroga said that the power utility spends R23-million every working hour, Sasol announces the names of 50 BEE groups to participate in its Inzalo empowerment transaction, and Rio Tinto Alcan says it expects its Coega aluminium smelter to only come on line... 

Daily podcast – May 29, 2008 

By: Shannon de Ryhove     29th May 2008 In today's podcast: SA's electricity crisis will remain for years and power cuts will continue well into the future says Eskom, SARB Governor Mboweni says drastic measures are needed to bring down inflation, and Trans Hex has begun a feasibility study at the Luana prospect in Angola. 

Daily Podcast – May 28, 2008 

By: Shannon de Ryhove     28th May 2008 In today's podcast: Busa agrees that electricity tariffs probably need to double but argues that the economy did not not have the absorptive capacity to deal with a 100% price hike over two years, President Thabo Mbeki says Africa needs to ensure that its growth is sustainable and spread... 

Shares rise as diamond junior Kimberley Consolidated Mining lists on JSE's AltX 

By: Martin Creamer     27th May 2008 The shares of debutant Kimberley Consolidated Mining (KCM) rose 11% in rapid trading after the diamond junior listed on Tuesday on the alternative AltX exchange of the Johannesburg Stock Exchange. The 300-employee KCM listed 450-milion shares at R1 a share, and its market capitalisation rose to... 

Daily Podcast – May 27, 2008 

By: Shannon de Ryhove     27th May 2008 In today's podcast: Vodacom Group reports strong growth in profit, MTN Group starts talks with Indian mobile operator Reliance Communications, and Water Affairs and Forestry Minister Lindiwe Hendricks signs MoA for second phase of the Olifants river Water Resources Development Project. 

State, Limpopo miners sign water-scheme agreement  

By: Chanel de Bruyn     26th May 2008 Water Affairs and Forestry Minister Lindiwe Hendricks on Monday signed a memorandum of agreement (MoA) with 23 mining houses in Limpopo province for the development of the second phase of the Olifants River Water Resources Development Project (ORWRDP), which would be funded through private and... 

Daily podcast – May 26, 2008 

By: Shannon de Ryhove     26th May 2008 In today's podcast: the NUM condemns xenophobia attacks, the Chamber of Mines says that Eskom should not get the 60% tariff hike it wants, and Europe's farm chief gives a mixed welcome to a revised negotiating text on agriculture for a global trade deal. 

Xenophobic violence unacceptable, says NUM  

By: Chanel de Bruyn     23rd May 2008 South Africa's National Union of Mineworkers (NUM) on Friday condemned the violent attacks on foreigners, describing it as a "disgrace to our revolution". "We need to bow our heads in shame," NUM president Senzeni Zokwana said, addressing NUM delegates at a two-day... 

Daily podcast – May 23, 2008 

By: Mariaan Webb     23rd May 2008 In today's podcast: Neotel unveils its long-awaited consumer offering, Eskom chairperson Valli Moosa breaks his silence, and CoM chief economist Roger Baxter states that a smoothed approach of increasing electricity prices is the best way for SA to proceed. 

Canadian junior on the fast track to reopen former Billiton mine 

By: Liezel Hill     22nd May 2008 Toronto-based Adex Mining hopes to be in a position this time next year to make a production decision on its Mount Pleasant project, in New Brunswick, Canada, which could then see it producing its first metal in 2010. Mount Pleasant was built and developed by the then Billiton in the eighties,... 

Daily podcast – May 22, 2008 

By: Shannon de Ryhove     22nd May 2008 In today's podcast: Transnet awards a R2,5-billion construction contract for the new multiproduct fuel pipeline, China and South Africa discuss trade cooperation, and DRDGold suffers production setbacks at its ERPM operation owing to the xenophobic violence.  

Daily podcast – May 21, 2008 

By: Shannon de Ryhove     21st May 2008 In today's podcast: the South African Rail Commuter Corporation plans to replace its entire fleet of 4 600 commuter trains, Eskom CE Jacob Maroga says it won't be useful to force issues on the coal industry, and the DME has commissioned a study to draft a 'coal master plan'. 

Eskom won’t force miners’ hands as coal exports threaten security of supply 

By: Matthew Hill     20th May 2008 While soaring coal prices were a key driver behind Eskom’s latest and much-debated application to the energy regulator for significant electricity price increases, CE Jacob Maroga said on Tuesday that it “won’t be useful to force” issues on the coal industry. However, he... 

Daily podcast – May 20, 2008 

By: Shannon de Ryhove     20th May 2008 In today's podcast: Nersa suggests that Eskom should not manage the procurement of new private generation capacity, BHP Billiton to bring large diesel generator sets to its Hotazel manganese mines, and global demand for gold falls 16% y/y in Q1 of 2008. 

Daily podcast – May 19, 2008 

By: Shannon de Ryhove     19th May 2008 In today's podcast: The IMF expects a GDP growth rate of 6,5% for sub Saharan Africa for 2008, Sasol votes through its R26-billion BEE deal, and the ANC suggests that Eskom should pay for its coal on a cost-plus basis. 

Commodities remain crucial to Africa's growth - IMF 

By: Christy van der Merwe     16th May 2008 Nonoil commodities would remain crucial to Sub Saharan Africa's growth outcome, the International Monetary Fund (IMF) said on Friday, and estimated that for every 1% decline in global economic growth, sub-Saharan African growth would decline by about 0,5%. At its regional economic outlook... 

Daily podcast – May 16, 2008 

By: Shona Kohler     16th May 2008 In today's podcast: Eskom has asked Nersa to more than double its DSM programme to R2,5-billion, a new electricity pricing policy was approved by Cabinet this week, details of which will be announced at the electricity summit on Friday, and AngloGold Ashanti has ceased discussions related to... 

Demand for Africa’s minerals to underpin AEL’s growth 

By: Matthew Hill     15th May 2008 Explosives manufacturer AEL,a subsidiary of JSE-listed AECI, forecast revenue of R1-billion from African countries excluding South Africa, it said on Thursday. The global commodities boom has sparked a new rush for the continent's minerals, pushing up demand for the firm's products. 

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