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Nov 9, 2011

AngloGold Q3 earnings beat forecast

JOHANNESBURG, NOV 9 (Reuters) – AngloGold Ashanti ,
the world No. 3 gold miner, reported record-breaking
third-quarter earnings on Wednesday, beating forecasts as
bullion’s bull run filled its coffers.

The average gold price was up about 13 percent to just over
$1,700 an ounce during the quarter to the end of September
compared to the previous one.

Nov 4, 2011

Uganda to offer over 10,000 sq km for oil bids

CAPE TOWN, Nov 4 (Reuters) – Over 10,000 sq km with “high
petroleum potential” has been relinquished in Uganda and will
soon be available for relicencing along with unlicenced areas in
a competitive bidding process, an Africa oil conference heard on
Friday.

The discovery of commercially viable oil reserves in
land-locked Uganda which are estimated to amount to 2.5 billion
barrels has been a game-changer for the east African region and
sparked a fresh hydrocarbon scramble on the world’s poorest
continent.

Oct 31, 2011

Harmony Gold Q1 jumps three-fold on bullion’s surge

JOHANNESBURG, Oct 31 (Reuters) – Harmony Gold ,
South Africa’s third-largest gold producer, posted a more than
three-fold increase in quarterly earnings on Monday, beating
expectations as bullion’s record run and a weaker rand combined
to lift its profits.

Production was flat for the quarter, hampered by a crippling
five-day strike, and analysts said the miner needs to ramp up
output to meet its full-year target.

Oct 28, 2011

Africa’s oil scramble heads east to uncertain waters

JOHANNESBURG (Reuters) – Africa’s new scramble for oil is heading east, where the potential could be huge but the risks are far higher than in the well-established sector on the continent’s west coast.

Waters off East Africa have yet to produce a commercially viable oil source but gas discoveries off Mozambique and Tanzania have prompted lots of interest.

Oct 27, 2011

South African youth leader heads march against poverty

JOHANNESBURG (Reuters) – South Africa’s firebrand youth leader Julius Malema marched 2,000 young black South Africans through the streets of Johannesburg Thursday, demanding the part nationalisation of the country’s mines and seizure of white-owned farms.

Malema, head of the African National Congress (ANC) Youth League, challenged President Jacob Zuma’s government to do more to tackle the chronic unemployment blighting the continent’s biggest economy that is controlled by the white minority.

Oct 27, 2011

South African youths march against unemployment

JOHANNESBURG, Oct 27 (Reuters) – Hundreds of young black
South Africans marched to the Johannesburg Stock Exchange on
Thursday after delivering a petition to the Chamber of Mines
demanding big changes to an economy still controlled by the
white minority.

Led by African National Congress (ANC) Youth League leader
Julius Malema, the marchers want President Jacob Zuma’s
government to do more to tackle the chronic unemployment
blighting the continent’s biggest economy.

Oct 27, 2011

S.Africa’s youth to march against unemployment

JOHANNESBURG, Oct 27 (Reuters) – Police lined the streets of
South Africa’s commercial capital on Thursday with hundreds of
youths set to march to the Johannesburg Stock Exchange and
Chamber of Mines demanding big changes to an economy still
controlled by the white minority.

Led by African National Congress (ANC) Youth League leader
Julius Malema, the marchers want President Jacob Zuma’s
government to do more to tackle the chronic unemployment
blighting the continent’s biggest economy.

Sep 28, 2011

“Rewilded” rare tiger kills “domesticated” relative

JOHANNESBURG (Reuters) – An extremely rare South China tiger has been killed by another on a South African reserve dedicated to saving the species from extinction, the conservation group behind the project said.

Save China’s Tigers said on its web site the incident took place on Sept 17 when an adult male named “327″ broke through a gate into another enclosure and attacked a second male.

Sep 27, 2011

Q+A-How much can S.Africa miners reap from weak rand?

JOHANNESBURG, Sept 27 (Reuters) – South Africa’s rand has
lost about 16 percent in September.

Miners in the world’s top platinum producer and
fourth-biggest gold producer often benefit from a softer rand
because it reduces their costs, though this has become less of a
factor for gold miners as they spread their footprint elsewhere.

Sep 26, 2011

South African Markets – Factors to watch on Sept 26

JOHANNESBURG, Sept 26 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect South African
markets on Monday.

DIARY

For South Africa corporate diary, click on

For southern and South Africa diary, click on

COMPANIES

Avi Ltd , Kap International and Group 5
trade ex-dividend.

SOUTH AFRICAN MARKETS

South Africa’s rand jumped more than 2 percent against the
dollar on Friday, rebounding from 28-month lows overnight as
investors tip-toed back to high-yielding assets they had dumped
on a global wave of risk aversion this week.

    • About Ed

      "I cover commodities in southerrn Africa, a region that I have returned to after spending over four years covering religion, politics and the Great Recession in America. I am a Canadian citizen and grew up in Nova Scotia."
      Hometown:
      Johannesburg
      Joined Reuters:
      1995
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