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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.

Sep 23, 2011

Analysis: Zambia’s Sata likely to avoid major copper shake up

JOHANNESBURG (Reuters) – New Zambian President Michael Sata is likely to back away from shaking up the nation’s vital copper industry significantly, despite his past attacks on foreign mining investment — especially when it comes from China.

Chinese companies, which have sunk $2 billion into Zambia to secure a share of its mineral wealth, may still be unnerved by Sata’s past accusations that they had created slave labor conditions with scant regard for safety or the local culture.

Sep 23, 2011

Record prices spur drive to get more “dumped” gold

BRAKPAN, South Africa (Reuters) – The vast majority of South Africa’s gold lies deep underground but atop the mine dumps scattered around Johannesburg, you can actually walk on the stuff.

“You’re standing on gold right now,” said Charles Symons, chief operating officer for DRDGold, as he surveys a yawning crater 30 meters (90 feet) deep and 250 meters long blasted out of the Elsburg dump to the south of Johannesburg.

Sep 19, 2011

AngloGold aims 5 km down to unlock 70 mln oz

JOHANNESBURG, Sept 19 (Reuters) – AngloGold Ashanti
, the world’s third-largest gold miner, aims to use new
technology to go 5 kilometres (3 miles) below the surface to
unlock 70 million ounces, a conference heard on Monday.

The drive to a $125 billion resource will see blasting
eliminated and remove humans from the stopes where gold is
extracted, Mike MacFarlane, AngloGold’s senior vice president
for technology, told a mining automation conference.

    • 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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