R/€ = 15.90 Change: -0.01
R/$ = 14.07 Change: 0.00
Au 1320.93 $/oz Change: 5.93
Pt 805.07 $/oz Change: 17.61


Gold down 1% as equities tumble on Japan quake

15th March 2011 Gold slid more than 1% on Tuesday as declines in stock markets triggered by a growing nuclear crisis in Japan prompted speculators to sell bullion to cover losses, while holdings on the ETF fell to their lowest since May last year. Silver fell around 3%. Platinum and palladium gave up early... 

Sierra Leone says wants to improve mining contracts

14th March 2011 Sierra Leone needs to revise recent large-scale mining leases to get a better deal for its people, President Ernest Bai Koroma told Reuters on Monday. "There is a need for us to improve on the agreements that were signed," he told Reuters in an interview at his office in the capital Freetown. 

Fitch says SA outlook positive, could improve

14th March 2011 South Africa's sovereign rating, revised upwards to stable from negative in January, could improve further over the long term, a senior Fitch official said on Monday. "South Africa is currently on a positive outlook and we're very happy with it," Roland Cooper, Africa director, told Reuters. 

Aveng H1 profit down, outlook tough

14th March 2011 Aveng, Africa's largest builder by market value, posted a 35% drop in first-half profit on Monday and said challenging domestic contsruction conditions would limit overall revenue growth. The South African-based builder said headline earnings per share totalled 106,8c for the six months to... 

Zimbabwe to set up wealth fund to own 51% of mines

9th March 2011 Zimbabwe will effectively nationalise half of the country's key resources sector by setting up a sovereign wealth fund to own 51% stakes of mining companies, a government minister said on Wednesday. Saviour Kasukuwere, minister of youth empowerment and indigenisation, said the government in the... 

MTN FY profit up 20%

9th March 2011 South Africa's MTN Group posted a 20% rise in full-year profit on Wednesday and sharply lifted its dividend payment, as benefits from strong subscriber growth in emerging markets. MTN, Africa's largest mobile phone operator, said adjusted headline earnings per share totalled 909,1 cents for the... 

Gold near record, silver at 31-year peak on Libya

7th March 2011 Gold rose to near a record high and silver jumped to its highest in more than three decades on Monday on inflation worries triggered by rising oil prices as widening clashes in Libya deepened fears the country was on the brink of a civil war. Troops loyal to Muammar Gaddafi launched... 

Peru police clash with wildcat miners, one dead

2nd March 2011 A clash between Peruvian police and wildcat gold miners resulted in the death of one miner and the wounding of 14 others on Tuesday at a protest against the army's seizure of illegal dredges in the Amazon basin, a witness said. It was the latest violent conflict over natural resources to flare... 

South Africa sugar output seen at 1,911Mt

1st March 2011 South Africa's 2010/11 sugar output is estimated at 1,911-million tons, slightly down from a previous 1,912-million tons forecast, the latest estimate by the South African Sugar Association (SASA) showed. Sugarcane crush forecast was unchanged at 16,016-million tons, the industry association,... 

Buenaventura eyes huge expansion at Cerro Verde

25th February 2011 Miner Buenaventura said Friday shareholders will decide "in several weeks" on a plan to double or triple output the Cerro Verde copper-molybdenum mine in southern Peru. The mine, Peru's No. 3 copper producer, which mined 308 370 tonnes of copper last year, is majority-owned by Freeport-McMoRan.... 


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