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Premier mining and commodity investment news

Sasol restarts SA’s Natref refinery, ramping up output

2 Aug 2022 /  Paul Burkhardt, Bloomberg
The 108 000 barrel-a-day plant is now 'online and production ramp-up is in progress'.
UPDATE

Oil dips before OPEC+ meets amid signs that tightness is easing

2 Aug 2022 /  Yongchang Chin and Alex Longley, Bloomberg
Oil fluctuates near $94 with OPEC+ meeting looming on market.

Glencore is cashing in on coal to dodge big mining’s slowdown

2 Aug 2022 /  Thomas Biesheuvel, Bloomberg
Looks set to buck the trend. 

Gold hits four-week high as Pelosi’s Taiwan trip stirs tensions

2 Aug 2022 /  Bloomberg News
Spot gold rose as much as 0.5% to $1 780.53 an ounce before trading at $1 773.65 by 6:19 a.m in London.

RBPlat H1 profit falls 58.1% on lower metal prices, soaring costs

2 Aug 2022 /  Nelson Banya, Reuters
RBPlat's headline earnings per share, fell to R7.67 in the six months to June 30, from R18.32 previously.

Gold Fields CEO: Shareholder buy-in for Yamana takeover is still ‘work in progress’

2 Aug 2022 /  Praveen Menon, Reuters
Gold Fields shareholders will vote on the deal in the second week of October.

Thungela expects strong first-half earnings due to coal prices

1 Aug 2022 /  Nelson Banya, Reuters
Thungela said it expects to post headline earnings per share of between R66.85 and R67.45 for the six months to June 30, compared to R3.05 last year.

Gold declines after posting biggest weekly gain since March

1 Aug 2022 /  Swansy Afonso, Bloomberg
Spot gold declined 0.3% to $1 760.75 an ounce as of 6:19 a.m. in London.

Botswana’s Debswana diamond sales jump 54% in first half of 2022

29 Jul 2022 /  Brian Benza
In local currency terms, rough sales jumped 68.4% to 31 billion pula due to a stronger dollar in the period.

Oil set for weekly gain as tight markets offset slowdown fears

29 Jul 2022 /  Grant Smith and Devika Krishna Kumar, Bloomberg
Brent for September settlement, which expires Friday, added 2.8% to $110.14 on the ICE Futures Europe exchange.

Oil refinery closures, cleaner fuels and security of supply in SA

29 Jul 2022 /  Rod Crompton
Natref is the last surviving oil refinery in South Africa. Three others were closed in the past two years.

Gold heads for biggest weekly gain since March as dollar falls

29 Jul 2022 /  Ranjeetha Pakiam, Bloomberg
Silver, platinum and palladium climbed.

Anglo American’s new boss sounds warning on future copper supply

29 Jul 2022 /  Thomas Biesheuvel, Bloomberg
'I genuinely don’t see where all of this copper is going to come from at this point in time' – Duncan Wanblad.
5

Eskom partners with Netherlands Embassy to repurpose Grootvlei Power Station

28 Jul 2022 /  Nondumiso Lehutso
The site is expected to be a blueprint for other locations set to transition.
1

Zimbabwe raises mines power tariff by 8% to meet production cost

28 Jul 2022 /  Godfrey Marawanyika, Bloomberg
Zimbabwe, which has the world’s third-biggest reserves of platinum-group metals, and also mines gold, diamonds and chrome, is targeting growth in the sector to $12 billion output by 2023.

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ECONOMIC DATA  

  CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products Jul 2022 7.40%
  CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing Jul 2022 8.10%
  RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee. Aug 2022 5.50%
  Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance) Aug 2022 9.00%

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