Global miner Rio Tinto said on Tuesday it was expanding its operations in Africa because of new opportunities in a number of countries, including Madagascar.
"We are clearly expanding our African exposure to access fertile ground," Eric Finlayson, Rio's head of exploration, told the Indaba African mining conference in Cape Town.
Read full article at Reuters South Africa
Tuesday, February 6, 2007
Managers fear the bear
General-equity fund mangers go on the defensive.
The JSE is currently in its second-biggest bull market in history, with an increase of more than 200% in the last four years. But we have some way to go to match the boom seen between 1976 and 1980 when the All Share Index rose nearly 400%.
Cautious investors are taking profits and diversifying into assets deemed less risky such as bonds, preference shares, cash, etc. Pity then the nervous general-equity fund manager, who has no choice but to keep clients' funds fully invested in shares, despite any misgivings about the market.
Read more at MoneyWeb.co.za
The JSE is currently in its second-biggest bull market in history, with an increase of more than 200% in the last four years. But we have some way to go to match the boom seen between 1976 and 1980 when the All Share Index rose nearly 400%.
Cautious investors are taking profits and diversifying into assets deemed less risky such as bonds, preference shares, cash, etc. Pity then the nervous general-equity fund manager, who has no choice but to keep clients' funds fully invested in shares, despite any misgivings about the market.
Read more at MoneyWeb.co.za
Sasol studies GTL plan in Aus
Chevron Corp, the second-largest oil and gas company in the United States, said on Tuesday it was teaming up with South Africa's Sasol Ltd to study a possible gas-to-liquids project in Western Australia.
Chevron said the two companies' existing joint venture, Sasol Chevron, was exploring the possibility of building a facility to convert gas from the Wheatstone field in Western Australia.
Read more at FIN24.co.za
Chevron said the two companies' existing joint venture, Sasol Chevron, was exploring the possibility of building a facility to convert gas from the Wheatstone field in Western Australia.
Read more at FIN24.co.za
LME copper higher on falling inventories
Copper traded higher on Tuesday as stocks in London Metal Exchange warehouses fell and if the trend persisted it could spark prices to go higher, analysts said.
"If that were to continue... more downs than ups in visible stocks, then there would be one or two shorts around that might give us a base in these markets as they unwind their positions," chief investment strategist Sean Corrigan at Diapason Commodities Management said.
Copper for delivery in three months was up $60 or 1.1 percent at $5,400/5,410 a tonne by 1049 GMT.
Copper stocks in LME-monitored warehouses fell for the second consecutive day to 212,575 tonnes, but stocks have doubled in the past 12 months and are over eight times greater than their July 2005 low.
Read full article at Reuters South Africa
"If that were to continue... more downs than ups in visible stocks, then there would be one or two shorts around that might give us a base in these markets as they unwind their positions," chief investment strategist Sean Corrigan at Diapason Commodities Management said.
Copper for delivery in three months was up $60 or 1.1 percent at $5,400/5,410 a tonne by 1049 GMT.
Copper stocks in LME-monitored warehouses fell for the second consecutive day to 212,575 tonnes, but stocks have doubled in the past 12 months and are over eight times greater than their July 2005 low.
Read full article at Reuters South Africa
Private equity rocks?
Hedge funds in headlines again, for all the wrong reasons
Hedge funds, the most modern kind of smoke-and-mirrors investment fad, are in the headlines once again, for all the wrong reasons. The woes of Red
Kite Metals LLC, a metals-special hedge fund launched in October 2004, have also attracted adverse attention to the swathe of debt-saturated private equity fund deals moving at a cracking pace through countries across the globe.
Read more at moneyweb.co.za
Hedge funds, the most modern kind of smoke-and-mirrors investment fad, are in the headlines once again, for all the wrong reasons. The woes of Red
Kite Metals LLC, a metals-special hedge fund launched in October 2004, have also attracted adverse attention to the swathe of debt-saturated private equity fund deals moving at a cracking pace through countries across the globe.
Read more at moneyweb.co.za
Build A Wall Around Your Assets
The assets that you have worked long and hard to accumulate can be lost within a very short period if they are not properly protected, and you are sued, you file for bankruptcy or you are otherwise subject to judgments proceedings.
However, understanding that certain assets should be protected from being lost in such circumstances, lawmakers have passed acts under which certain types of assets are, or can be, shielded. In this article, we'll show you what measures you can take to protect your savings.
Read more at investopedia.com
However, understanding that certain assets should be protected from being lost in such circumstances, lawmakers have passed acts under which certain types of assets are, or can be, shielded. In this article, we'll show you what measures you can take to protect your savings.
Read more at investopedia.com
Angloplat's R10bn capex plan
The world's biggest platinum producer, Anglo Platinum Ltd, plans capital expenditure of R10bn for its expansion programme this year, parent Anglo American plc said on Tuesday.
The spending is part of a programme planned to boost Angloplat's annual output from 2.7-2.8 million ounces this year to around 3.3 million ounces by 2010, Phillip Baum, the acting chief executive of Anglo's South African unit, said.
Read more at FIN24.co.za
The spending is part of a programme planned to boost Angloplat's annual output from 2.7-2.8 million ounces this year to around 3.3 million ounces by 2010, Phillip Baum, the acting chief executive of Anglo's South African unit, said.
Read more at FIN24.co.za
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