Thursday, March 22, 2018

Shares in Rockwell Diamonds gained 16% in Johannesburg after news it had found a new empowerment partner.

Sasol said it was seeking ways to monetise Mozambique's oil and gas resources rather than seeing all the southern African country's resources exported to Asia.

Seven of 19 gold producing companies tracked by Bloomberg News was losing money at $1,137/oz and was leading to development of a two-tier sector.

Canadian gold exploration firm, Giyani Gold, is to list on the JSE on June 26 and said it was hopeful of finding gold among the greenstone belts.

Elize Strydom, chief negotiator at the Chamber of Mines of SA, declared herself apprehensive owing to possible strike action at the country's platinum mines.

The economy of the Democratic Republic of Congo is forecast to grow 9.2% this year, said the International Monetary Fund.

Madagascar's economic growth forecast has been trimmed by the World Bank to 3.5% this year from 4% previously owing to a slowdown in mining activity.

Goldman Sachs cut its price forecast for power station coal in Newcastle, Australia, a benchmark in China, to $69/t.

South Africa may not see another deep level mining investment if the government persists with using mining as a political tool.

Robert Friedland, executive chairman of Ivanhoe Mines, said a recent drill result at the firm's Platreef project was "extraordinary" and "unprecedented".