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Archive for the ‘PLATINUM’ Category

IMPLATS ENDS TALKS TO BUY NORTHAM, MVELA – “NEGOTIATIONS HAVE THEREFORE BEEN TERMINATED” (South Africa)

Posted by Gilmour Poincaree on January 14, 2009

14 January 2009

Reuters

PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, PLATINUM, RECESSION, SOUTH AFRICA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

PLATINUM’S TURN TO SHINE

Posted by Gilmour Poincaree on January 11, 2009

Saturday, January 10, 2009

by Don Vialoux – Financial Post

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

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PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in COMMERCE, COMMODITIES MARKET, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS 2008/2009, GARMENT INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, MINING INDUSTRIES, PLATINUM, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

PLATINUM PRICES DECLINE 50% (India)

Posted by Gilmour Poincaree on January 7, 2009

7 Jan 2009, 0022 hrs IST

by Swati Anand – TNN

PUBLISHED BY ‘THE TIMES OF INDIA’

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PUBLISHED BY ‘THE TIMES OF INDIA’

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, PLATINUM, RECESSION, THE FLOW OF INVESTMENTS | 1 Comment »

RESOURCE COUNTERS HELP SEND STOCKS TO FIVE-WEEK HIGH (South Africa)

Posted by Gilmour Poincaree on December 10, 2008

December 10, 2008

Reuters and Bloomberg

PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Johannesburg – Stocks climbed to a five-week high yesterday buoyed by firmer mining shares.

The Top40 index rose 5.28 percent to 19 986.66 points on Wednesday, while the broader all share index climbed 4.67 percent to 21 930.94 points, levels last seen on November 5.

Gideon Muller, a trader at Thebe Securities said: “Commodity prices are picking up our market [such as] your mining houses and platinum shares.”

BHP Billiton rose 11.48 percent to R188.95 and rival Anglo American gained 7.71 percent to R230.50.

AngloGold Ashanti rose 11.08 percent to R271.

Anglo Platinum increased 8.92 percent to R455 and Impala Platinum advanced 2.5 percent to R121 after platinum prices firmed.

Pallinghurst Resources fell 2.25 percent to R4.35. The company and the Bakgatla Ba Kgafela tribe would invest $175 million (R1.8 billion) in Platmin to allow the company to fund the construction of its Pilanesberg platinum mine in the North West.

Sasol climbed 7.01 percent to close at R299.63.

Kumba Iron Ore slipped 3.7 percent to R157, the biggest decline since November 28. The iron ore producer plans to proceed with an R8.5 billion expansion as its competitors slash output.

Banking stocks, which are sensitive to interest rate moves started to march higher after a report showed retail sales slumped for a sixth month, raising speculation the central bank will cut rates today.

African Bank Investments Limited rose 6.11 percent to R28.12 and Standard Bank ticked up 1.09 percent to R83.49.

Garth Mackenzie, the head of derivatives trading at BoE Stockbrokers, said:

“The stimulus packages continue to boost growth expectations. “We are also seeing quite big gains in the local retailers ahead of the interest rate announcement.”

MTN surged 7.7 percent to R102.99. JD Group increased 8.7 percent to R33.95.

Tiger Brands rallied 3.5 percent, to R147.

Simeka Business Solutions added 7.7 percent to 42c, rising for the first time in six days. The information technology company said first-half earnings a share advanced as much as 40 percent.

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, COPPER, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GOLD, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, IRON ORE, METALS, MINING INDUSTRIES, PLATINUM, PRECIOUS METALS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SOUTH AFRICA, STOCK MARKETS, THE FLOW OF INVESTMENTS | Leave a Comment »

ANGLOPLAT SET TO BUILD 20.000 HOUSES (South Africa)

Posted by Gilmour Poincaree on November 14, 2008

November 14, 2008

by Justin Brown

Johannesburg – Anglo Platinum (Angloplat) would build up to 20 000 houses for employees at its mines in the next five to 10 years, the company said yesterday.

The plan, estimated to cost R4 billion at current prices, is a response to the mining charter requirement that single-sex hostels be eradicated.

Papillon Motswenyane, Angloplat’s senior manager of housing, said the sum would be made up of R1.6 billion in state housing subsidies and Angloplat contributions, and R2.4 billion in employee contributions.

“Angloplat’s intention is to reduce its employees’ dependence on company accommodation and promote home ownership,” he said. “Angloplat wants to introduce employee assisted housing.”

Neville Nicolau, Angloplat’s chief executive, said the group wanted to provide its employees with a reasonable alternative to hostel accommodation. “A large number of employees do not have housing,” he added.

Nicolau said the housing plans would help reunite workers and their families and reduce squatter camps adjacent to Angloplat’s mines in North West and Limpopo.

The group would subsidise the cost of land and services provided to employees who took up the housing schemes.

Angloplat yesterday signed a memorandum of understanding with the department of housing. Kaba Kabagambe, the deputy director-general of housing, said the department viewed the memorandum as “a major milestone”.

A key constraint for the department had been the availability of suitable land, he said.

The first phase of the scheme would create 15 000 jobs, Kabagambe added.

Until now six to 10 workers have shared a hostel room. In the hostels the number of people sharing a room will decline to two and eventually to a single person per room within five years.

Angloplat has already built just over 1 000 houses, including 721 in Rustenburg and 86 in Thabazimbi, near its Amandelbult and Union mines.

Angloplat might need to build a further 10 000 houses as it transfers work done by contractors to its own employees.

Angloplat rose 0.36 percent to R414.50 yesterday. The platinum sector lost 2.92 percent

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PUBLISHED BY ‘BUSINESS REPORT’ (South Africa)

Posted in CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, PLATINUM, PRECIOUS METALS, SOUTH AFRICA, THE WORKERS | Leave a Comment »