Monday, July fourteen, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
The newly launched Enterprise Investment Programme (EIP), which currently focuses on manufacturing and tourism, could in the long-term evolve into a tool to support the agriculture industry, a top government official said on Friday.
Department of Trade and Industry Director-General Tshediso Matona, speaking at the food summit organised by the Gauteng Department of Agriculture, Conservation and Environment to seek ways to deal with rising prices, said that the EIP could assist in creating investment in rural infrastructure to support agriculture processing.
Matona also said that reviewing agricultural trade and tariff policies and amending the Competition Act, could also be valuable responses made by government to mitigate the food crisis.
World Bank President Robert Zoellick said on Saturday he expected food prices to remain above 2004 levels until at least 2012 and energy prices would also remain high and volatile.
He repeated that with food and fuel prices in a "danger zone" there was a need for 10-billion dollars to provide food and cash handouts for the world's poorest.
Soaring oil and food prices have fuelled inflation across the globe at the same time as economies slow, posing a sharp dilemma for policymakers.
Gold-miner Gold Fields hopes to produce one-million ounces a year of gold equivalent in South America within the next three to four years, or at least to be well on its way to that target.
Its new Cerro Corona mine in Peru, scheduled to start shipping gold and copper in concentrate by early September, will produce 350 000 oounces a year of gold equivalent, and there is room to grow this significantly.
Head of South American operations Juan Luis Kruger said at a visit to the mine that the operation was "one small piece in a much larger puzzle" of Gold Fields' strategy for growing its Latin American profile.
Also making headlines:
Algeria invites bids for oil/gas exploration
Kenya court halts 370-million dollar sugar and biofuels project
Affordable-housing programme is maturing, but the delivery pressures are mounting
De Beers increases rough diamond prices by 5%
Gold Fields expects to complete safety review of pillar-mining method next month
And, Bernard Swanepoel wants to rebuild Village and buys Harmony's stake
In political news:
The ANC defends Gwede Mantashe's remarks on judges
Zimbabwe talks in stalemate says the MDC
France launches Mediterranean Union with high hopes
And, thousands rally in Sudan against International Criminal Court move