Marginal gold miner Durban Roodepoort Deep (DRD) will continue to pursue its R3,5-million lawsuit against Roger Kebble for breaching a restraint of trade agreement, DRD CEO Ian Murray said in a statement on Wednesday. The legal action was heard in the Johannesburg High Court on Tuesday.
Irish oil company Tullow Oil plc on Friday confirmed that it has made a $500-million bid for South African oil exploration and production company Energy Africa. Tullow Oil has entered into an exclusivity agreement with Engen and other shareholders who in total hold more than 90% of Energy Africa’s issued share capital.
Ten years after South Africa ended apartheid and returned to the international arena, the country is a model of good governance, freedom and democracy, Kenya’s agricultural attache in South Africa, Bernard Kitheka, said on Tuesday at a World Meteorological Day function hosted by the South African Weather Service.
World number five gold miner Harmony is increasing the number of women at its local mines and, while progress is relatively slow, the process of integrating women into the mining operations has been quite smooth, Harmony mining executives said on Monday.
The JSE Securities Exchange South Africa (JSE) ticked up during the morning session on Monday, with the key driver of the market being the resources sector. Platinum stocks sparkled on the JSE as the US dollar platinum price forged to fresh 24-year highs.
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/ 25 February 2004
After a flat 2003, global resources group Anglo American (Anglo) is set for a very strong 2004 financial year driven by strong gains in commodity prices and the possibility of a weaker rand, analysts say. Given current commodity prices, Anglo could set record headline earnings per share for the year to December 2004.
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/ 17 February 2004
The JSE Securities Exchange South Africa (JSE) ticked up on bullish sentiment on Tuesday, especially toward the major resources groups such as BHP Billiton and Anglo American (Anglo). At noon, the all-share index was up 0,91%, while industrials and financials were 0,74% and 0,41% firmer respectively.
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/ 12 February 2004
Kumba Resources is missing out on the rapid expansion of demand for iron ore from commodity behemoth China due to South Africa’s rail and port infrastructure not keeping pace, says Kumba CEO Dr Con Fauconnier. As a result, Kumba’s competitors that can more easily raise output are increasing their share of iron ore exports to China.
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/ 11 February 2004
London-listed gold miner Randgold Resources says the $3-million or so it spent on its failed bid for Ghana’s Ashanti Goldfields was well worth it. It was a chance worth taking and we came quite close," said Randgold Resources CEO Dr Mark Bristow.
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/ 11 February 2004
There is likely to be continued competition among the world’s major gold players for the remaining listed quality bullion assets, says world number-four gold miner Gold Fields’s director of international operations John Munro. During the past decade global gold mining has seen consolidation that has left about six major producers/