R/€ = 13.04
R/$ = 12.07
Au 1204.60 $/oz
Pt 1170.50 $/oz
Aug 21, 2008
Daily podcast – August 21, 2008Back
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Thursday, August twenty-one, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
T-Sec economist Mike Schussler said on Wednesday that a "big drop" in the petrol price is expected in September.
Schussler said he saw petrol dropping around R1 a litre - or even more. He expected diesel to drop by R1,45 a litre.
However, even if the decrease in the petrol price is as large as expected in September, petrol would still be up 38% compared with a year ago.
He expected petrol to drop month-on-month by 9,6%. This would be the largest month-on-month drop in the last ten-and-a-half years.
Diesel would see a month-on-month drop of 14,1% - the biggest month-on-month decrease in two decades.
Pallinghurst Resources CEO Brian Gilbertson said on Wednesday that Platinum-group metals were a "very much misunderstood" group of metals that "the world just wouldn't operate without".
He was speaking at the listing of his new company on the main board of the Johannesburg Stock Exchange.
Gilbertson said the metal was a critically vital element, with 80% of the world's reserves being in the Southern African region.
DME chief inspector of mines Thabo Gazi said on Wednesday that Government had completed audits on all the 300-plus high-risk mines. He said the report would be released "soon".
The audit was ordered by President Thabo Mbeki late last year, following an incident in which 3 200 workers were trapped underground at a Harmony Gold mine
Gazi would not commit to a time when the findings would be released, or if the DME had delivered the report to Mbeki yet.
Also making headlines:
Cape Town's largest-ever housing project seeks to cut reliance on Eskom power
Eskom says an environmental delay is unlikely to move the PBMR's final project deadlines
Chevron opens its R107-million wastewater treatment plant in Milnerton
Minefinders chief says the Mexican government and miners need to take a firm stand against 'extortion'
Kimberley Consolidated Mines gets government's go-ahead for bulk diamond sampling
And, DRDGold says its Ergo section contains 1,7-million ounces of gold
In political news:
The Johannesburg High Court hears the Hlope case
Floor-crossing is to be swept under the carpet
Robert Mugabe is to open parliament on Tuesday despite a warning that such a move would endanger crucial power-sharing talks
And, Russia says its troops are to leave Georgia
That's a round up of news making headlines today. For more on these and other stories, visit engineeringnews.co.za, miningweekly.com and polity.org.za
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
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