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/ 7 December 2007
China’s largest steel company BaoSteel called on Friday on the Australian government to intervene to prevent BHP Billiton from taking over rival miner Rio Tinto. Rio Tinto has rejected an unsolicited three-for-one scrip offer from the world’s biggest miner, saying it significantly undervalues its assets.
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/ 5 December 2007
The JSE remained firm at noon on Wednesday in line with overseas markets, while ongoing mergers and acquisitions talk and higher commodity prices boosted miners. But investors remained jittery ahead of the local central bank’s interest rate decision on Thursday afternoon.
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/ 30 November 2007
The JSE was sharply higher by noon on Friday as gains among mining and resource stocks added some cheer. At noon, the JSE’s all-share index rose 1,12% as the gold mining index advanced 2,59%. Resources collected 2,52% and the platinum mining index recovered 1,5%.
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/ 28 November 2007
Resources giant BHP Billiton said on Wednesday it still hoped rival Rio Tinto would warm to its uninvited takeover bid, despite opposition from customers who fear it will lead to a stranglehold on prices. BHP chief executive Marius Kloppers said that its executives had been arguing the "irresistible logic" of the tie-up with customers and investors around the world for two weeks.
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/ 26 November 2007
The JSE was forced to give up some of its earlier gains but the gold mining index was keeping it in the black at midday on Monday. Shortly after its open, the JSE was up over 1%, but by midday, the all-share index had given up almost half of its gains as bank and financial stocks weighed.
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/ 20 November 2007
Volatility in resource stocks, as well as in the mining indices, buried the JSE in the red at midday on Tuesday. At noon, the all-share index gave up 0,69%, led by a 1,69% pull back in the gold-mining index. Resources dipped 1,59% and the platinum-mining index was off 0,42%. Financials eased 0,27% and banks were unchanged (+0,01%), but industrials inched up 0,15%.
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/ 20 November 2007
The chief of the world’s biggest mining group, BHP Billiton, pushed his case for a mega-merger with rival Rio Tinto on Tuesday in the face of growing opposition from big Asian customers. Rio Tinto, meanwhile, was considering offering joint ventures with BHP as an alternative to its bigger rival’s takeover offer.
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/ 19 November 2007
The JSE was weaker at midday on Monday, erasing earlier gains following a similar trend in European markets on early indications that Wall Street was likely to open lower. At noon, the all-share index was down 0,69%. Resources fell 1,75% while the gold- and platinum-mining indices gave up 0,46% and 1,81% respectively.
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/ 19 November 2007
President Robert Mugabe’s government published a draft Bill on Monday forcing mining firms to transfer majority shareholdings to local owners, including giving the Zimbabwe government a free 25% stake. The Mines and Minerals Amendment Bill is expected to be presented to Parliament and to be approved before the end of the year.
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/ 16 November 2007
Rio Tinto is reportedly considering a counter-bid for BHP Billiton as a defence against a Aus-billion takeover proposal from its bigger mining rival, but analysts said such a move was unlikely. The Wall Street Journal, citing unnamed sources, reported Rio was considering a broad array of potential options to fight off BHP.
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/ 13 November 2007
After starting slightly higher on Tuesday, the JSE took a sharp turn as negative sentiment started to flow in from overseas markets. One trader explained that the JSE was weaker as there was continued concern about the supprime market globally.
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/ 12 November 2007
The world’s biggest resources group, BHP Billiton, on Monday piled pressure on Rio Tinto to take another look at its proposed $153-billion all-scrip merger by pitching the benefits of the merger to analysts and shareholders. Marius Kloppers, CEO of BHP Billiton, said the combination would unlock value that is otherwise unavailable.
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/ 12 November 2007
The JSE started to show a slight turnaround on Monday as a renewed announcement by BHP Billiton added some buying interest among resource stocks. By midday, the JSE’s all-share index lifted 0,3% as resources collected 0,79%. However, the gold and platinum mining indices pulled back 0,91% and 1,4% respectively.
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/ 9 November 2007
Rio Tinto’s rejection of a -billion all-share offer from BHP Billiton is likely to trigger rival bids from resource companies awash with cash from record commodity and stock prices. A marriage would create the world’s biggest mining force, capable of controlling the global flow of fleet loads of iron ore, copper and coal.
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/ 9 November 2007
The JSE continued to advance by noon on Friday as BHP Billiton’s announcement from Thursday flowed through the market. On Thursday, BHP Billiton admitted to having made a play for rival Rio Tinto, which put to rest days of market speculation over whether BHP Billiton was in fact courting Rio Tinto over a potential tie-up.
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/ 25 September 2007
Climate change is spurring a ”worldwide economic and industrial restructuring” as more and more of the world’s largest companies seek to confront global warming, an investor survey said on Monday. Even so, some big firms were still doing far too little to identify risks and opportunities from climate change.