Optimistic Harmony Gold assesses options

World number-five gold miner Harmony Gold is taking a fresh look at its business model in the light of the prevailing bull market in gold, which is creating a new generation of investors who are keen to invest in bullion, Harmony Gold CEO Bernard Swanepoel said on Friday.

Harmony reports 11th quarterly headline loss

As expected, South Africa's third largest gold producer Harmony Gold reported its eleventh consecutive quarterly headline loss due to the Christmas break, a reduction in grades and an increase in costs. For the March quarter, Harmony reported a headline loss of 50 cents per share from a loss of 75 cents in the December quarter.

JSE declines from all-time high

After starting very close to a record high, the JSE was lower at midday on Friday due to the increase in Chinese interest rates, which has sparked fears about the effect that this could have on demand for commodities, equity traders said. By 12.10pm, the all-share index was 1,34% weaker at 21 068,010.

Wits Gold targets bulls

Mining exploration company Wits Gold, which is planning to list on the JSE at the end of April, will provide investors seeking leverage a long-term option on the gold price through its access to an ore resource of 1420-million troy ounces of gold in the Wits Basin,

Harmony acquires stake in Western Areas

South Africa's third-largest gold miner, Harmony Gold, on Friday announced that it has acquired 44,99-million shares in Western Areas, representing a 29,2% stake in the company. The acquisition was made up by acquiring 37,37-million shares from fund manager Allan Gray and 7,62-million shares on the open market.

DRDGold looks to diversify into Africa

Gold miner DRDGold is looking to diversify into the rest of Africa and is examining the potential of two gold-mining properties in two different African countries, DRDGold strategic development officer Ilja Graulich said on Thursday. DRDGold started the process of diversifying into Africa in November last year, he said.

SA biodiesel plant may triple soyabean demand

The mooted biodiesel plant that is to be the subject of a pre-feasibility study by South African petrochemicals group Sasol and the Central Energy Fund (CEF), could almost triple soyabean demand in South Africa. Sasol and the CEF said the plant would require more than 500 000 tonnes of soya beans to produce 100 000 tonnes of biodiesel per annum.

Platinum keeps on climbing

The spot price of platinum on Friday climbed to an all-time high, while sister metals palladium and rhodium reached long-term highs on fund buying and bullish sentiment towards platinum group metals, traders and analysts said. At 3.10pm, platinum was quoted at $1 082,50/oz, up $1,50/oz from its previous close.

JSE higher on global markets

The JSE on Friday climbed to a fresh all-time high on positive sentiment from the previous day's trade as well as higher metals prices and international equity markets. By 12.15pm, the all-share index added 0,89% and the all-share industrial gained 0,75%. Financials climbed 0,59% and resources climbed 1,21%.

JSE ticks higher in steady trade

The JSE moved higher on Friday due to steady international equity markets and improved commodity as well as metal prices, brokers said. By 11.56am, the all-share index added 0,17%, the all-share industrial index climbed 0,46%, the financials index rose 1,19% and the banks index surged 2,74%.

JSE posts further all-time highs

The JSE continued to post fresh all-time highs on Wednesday, due to a firmer resources sector driven by higher metals and commodity prices as well as higher world markets, brokers said. By 12.26pm, the all-share index had added 0,29% and the all-share industrial index was up 0,3%.

Aveng and Aquarius: The gloves are off

Construction group Aveng will be consulting its legal representatives and respond later on Tuesday to platinum miner Aquarius Platinum's move to sue the group for R1-billion in damages, Aveng CEO Carl Grim said on Tuesday morning. Aveng will issue a statement on the JSE's Stock Exchange News Service, Grim added.

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