Senior Correspondent
Ed's Feed
May 3, 2013

S.Africa stocks lifted by U.S. jobs data, Harmony slides

JOHANNESBURG, May 3 (Reuters) – South African stocks climbed
to one-month closing highs on Friday, boosted by global peers
and upbeat U.S. jobs data, but the country’s No. 3 bullion
producer Harmony Gold fell sharply after posting a
loss.

The benchmark Top-40 index gained 1.75 percent to
34,963.97, its highest close since early April. The broader
All-Share index added 1.3 percent to 39,592.28, also a
one-month closing high.

Apr 29, 2013

S.Africa’s wounded NUM seeks big pay hikes from mining companies

JOHANNESBURG, April 29 (Reuters) – South Africa’s National
Union of Mineworkers, which has lost tens of thousands of
members in the past year to a militant rival, will demand
double-digit pay hikes in wage talks this year that companies
have said they can ill afford.

Wage talks across South Africa’s mining sector begin in May
and could be among the toughest ever with strikes a certainty
given inflation, growing worker militancy and shrinking company
margins as commodity prices fall.

Apr 26, 2013

Africa is still way too dependent on resources

JOHANNESBURG (Reuters) – Africa’s brisk economic growth over the past decade has been consumer driven, a much-hyped trend that masks the uncomfortable fact that the region remains far too reliant on commodities.

Sub-Saharan Africa’s growth has been second only to Asia and cracked along at 5.8 percent last year, according to a World Bank estimate, if South Africa, the continent’s biggest economy, is excluded.

Apr 15, 2013

Analysis: South Africa mine wage talks may be toughest yet

JOHANNESBURG (Reuters) – Wage talks across South Africa’s mining sector starting in May will be among the toughest ever with strikes a certainty given inflation, worker militancy and shrinking company margins.

There is also real risk of a repeat of the labor violence and wildcat action that led to over 50 deaths last year, costing companies and the state billions of dollars in lost revenue.

Apr 15, 2013

South Africa mine wage talks may be toughest yet

JOHANNESBURG (Reuters) – Wage talks across South Africa’s mining sector starting in May will be among the toughest ever with strikes a certainty given inflation, worker militancy and shrinking company margins.

There is also real risk of a repeat of the labour violence and wildcat action that led to over 50 deaths last year, costing companies and the state billions of dollars in lost revenue.

Apr 2, 2013

Lonmin picks Amplats executive to lead turnaround

JOHANNESBURG, April 2 (Reuters) – South African platinum
producer Lonmin PLC appointed Anglo American Platinum
(Amplats) executive Ben Magara as its new chief
executive on Tuesday as it strives to rebound from a wave of
deadly strikes which hammered it last year.

Magara, who will start in July, will be tasked with guiding
Lonmin’s turnaround and improving industrial relations at the
company after illegal strikes last year triggered violence which
killed 46 people, including 34 strikers shot dead by police in a
single day at its Marikana mine.

Apr 1, 2013

South Africa says Mandela’s condition has improved

JOHANNESBURG (Reuters) – The condition of South Africa’s former President Nelson Mandela has improved further, the government said on Sunday, as the 94-year-old anti-apartheid hero spent a fourth day in hospital receiving treatment for pneumonia.

“Nelson Mandela had a restful day,” South Africa’s presidency said in a statement, adding doctors treating him had reported “a further improvement in his condition”.

Mar 30, 2013

Mandela “comfortable”, treated for pneumonia

JOHANNESBURG (Reuters) – South Africa’s anti-apartheid hero Nelson Mandela is comfortable and able to breathe without problems as he continues to respond to treatment in hospital for a recurrence of pneumonia, President Jacob Zuma’s office said on Saturday.

After the revered 94-year-old statesman and former South African president spent a third night in hospital, the presidency said doctors had drained excess fluid from his lungs to tackle the infection.

Mar 30, 2013

Nelson Mandela “comfortable”, treated for pneumonia

JOHANNESBURG (Reuters) – South Africa’s anti-apartheid hero Nelson Mandela is comfortable and able to breathe without problems as he continues to respond to treatment in hospital for a recurrence of pneumonia, President Jacob Zuma’s office said on Saturday.

After the revered 94-year-old statesman and former South African president spent a third night in hospital, the presidency said doctors had drained excess fluid from his lungs to tackle the infection.

Mar 28, 2013

South Africa’s Mandela back in hospital with lung infection

JOHANNESBURG (Reuters) – Former South African President Nelson Mandela has been admitted to hospital with a recurrence of a lung infection, the government said on Thursday, renewing concerns about the health of the revered anti-apartheid leader.

A statement said the 94-year-old Nobel Peace Prize laureate went into hospital shortly before midnight on Wednesday. It gave no further details other than to say he was receiving the “best possible expert medical treatment and comfort”.

    • 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."
      Joined Reuters:
      1995
    • Follow Ed