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


Russia's central bank to pay less for domestic gold from May

11th February 2019 Russia's central bank will pay less than an industry benchmark for gold that it buys on the domestic market, it said on Monday. The central bank said that from May 1 it would add a discount to a purchase price currently based on the daily London Bullion Market Association (LBMA) gold price. The... 

As ice melts, Greenland could become big sand exporter - study

11th February 2019 Greenland could start to export sand in a rare positive spinoff from global warming that is melting the island's vast ice sheet and washing large amounts of sediment into the sea, scientists said on Monday. Mining of sand and gravel, widely used in the construction industry, could boost the... 

Marriott teams up with Kuwait Projects on St Regis resort in Morocco

11th February 2019 United Real Estate, a unit of Kuwait Projects, and Marriott International said in a joint statement on Saturday that they had agreed to open a resort near Marrakech. Marriott said in October it had signed deals with partners to increase its hotels in Africa 50% by 2023, opening new ones in Ghana,... 

Three consortiums compete to build dry port west of Cairo

11th February 2019 Three consortiums are competing to build a dry port west of Cairo worth $100-million, the Egyptian finance ministry said on Sunday. The project will be a public-private partnership between the General Authority For Ports and Dry Land and the winning consortium, to be built on roughly 104 acres in... 

South Sudan to return to pre-war oil production levels by mid-2020 – Minister

11th February 2019 South Sudan will return to producing more than 350 000 bbl/d of crude by the middle of 2020, up from current levels of just over 140 000 bbl/d currently, the country's oil minister said on Sunday. Production is expected to rise to 270 000 bbl/d by the end of 2019, Oil Minister Ezekiel Lul... 

Gordhan meeting Eskom executives over power crisis

11th February 2019 Public Enterprises Minister Pravin Gordhan is meeting executives from state power firm Eskom on Monday to find solutions to the country's electricity crisis, Eskom spokesperson Khulu Phasiwe told Reuters. Eskom said on Monday it would cut 4 000 MW from the national grid from 13:00 after six... 

Moody's says split plan does little to solve South Africa's Eskom financial woes

11th February 2019 The South African government's plan to split struggling state power company Eskom into three entities does little to address the company's financial difficulties, credit ratings agency Moody's said in a research report. "The move paves the way for a more transparent group with more clearly... 

Polyus reports jump in profit on rising gold sales

11th February 2019 Russia's largest gold producer, Polyus, on Monday reported a 20% jump in fourth-quarter adjusted net profit to $291-million compared with last year, lifted by increased production and rising sales of the metal. Adjusted net profit for the full year rose to $1.33-billion, Polyus said, up from... 

China iron-ore rises to record on concerns over Brazilian supply

11th February 2019 China iron-ore futures rose to a record on Monday, the first session after a week-long national holiday, on concerns that supply from Brazil, the country's second-largest ore supplier, may decline after a fatal dam accident at a Vale mine. The most-active iron ore futures for May delivery on the... 

Codelco plans to resume Chuquicamata mine operations after rains

11th February 2019 Chilean State miner Codelco said on Saturday it hoped to soon restart operations at its northern Chuquicamata copper mine a day after heavy rains forced its suspension. Codelco said operations at its smaller Ministro Hales mine restarted late on Friday after several hours' suspension and that... 


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