South Africa’s platinum industry forced by virus to look into the abyss – Moneyweb
South Africa’s gold industry has been dying slowly for years. As the coronavirus undercuts the already fragile case for investment, its platinum mines my be next. Felix Njini and Elena Mazneva report, with commentary from Mandi Dungwa – portfolio manager for Kagiso Asset Management. view article
Exxaro braces for uncertainty – Business Day
Diversified miner Exxarro Resources, Eskom’s largest coal supplier, expects export sales to fall in the second half of 2020 after weathering the Covid-19 storm remarkably well in the first six months of the year. Article by Lisa Steyn with comments by Mandi Dungwa – portfolio manager for Kagiso Asset Management. view article
Sasol shares jump as investors celebrate asset sale – Business Live
Shares in Sasol logged their biggest one-day gain in more than seven weeks as investors cheered news of a deal that will net the debt-laden petrochemical group R8.5bn, which might persuade the company to scrap a potentially dilutive rights issue. Written by Lisa Steyn with commentary from Abdul Davids – head of research for Kagiso […]
Gold price gets bullish – The Citizen
Last week gold futures rose above $1 800 per ounce. This is the first time they have passed that figure since 2011. The price of the precious metal is up over 17% this year in dollar terms. It is therefore not surprising that five of the six best-performing stocks on the JSE for the first […]
SA’s ferrochrome retreat points to steady erosion of competitiveness – Mining Weekly
The local chromium industry is ostensibly being cut out of global ferrochrome production, owing to its eroding competitiveness and the comparatively ‘low-hanging fruit’ of supplying chromite. While it is seemingly economically expedient at present, the continued decline in local ferrochrome production capacity is rather concerning for the mineral processing industry. Moreover, South Africa continuing, and […]
Is this rising gold price merely a self-fulfilling prophecy? – Citywire
And even if it does, does it matter? Last week gold futures rose above $1,800 per ounce. This is the first time they have passed that figure since 2011. The price of the precious metal is up over 17.0% this year in dollar terms. It is therefore not surprising that five of the six best-performing […]
Has value vs growth become old economy vs new economy? – Citywire
Has there been a structural change in economies and markets that means that old valuation methods are losing their relevance? In a recent Citywire Global CEO Summit, Baillie Gifford’s joint senior partner Andrew Telfer spoke about the ongoing relative under-performance of value versus growth. It was notable that this theme had persisted even through the […]
Central energy fund in talks to buy Sasol petrol stations – Business Day
The Central Energy Fund (CEF), the state-owned company whose main asset is oil and gas firm PetroSA, is in talks with Sasol to buy petrol stations as the embattled chemicals and synthetic fuels group scrambles to raise cash to pay down debt. Lisa Steyn writes with contribution by Abdul Davids – head of research for […]
PSG keeps promise and offloads 28.1% of its stake in Capitec – IOL
Investment giant PSG Group has kept its promise to reconsider its exposure to Capitec, announcing on Tuesday that it had decided to spin off 28.1 percent of its stake in the country’s second biggest retail bank to unlock value for its shareholders. Article by Dineo Faku with commentary by Abdul Davids – head of research […]
Sasol stock surges on oil hedges – Business Day
Sasol shares jumped after the synthetic fuel and chemicals producer said it has used hedges to lock in oil prices until end June and that its operations are continuing in the wake of the Covid-19 pandemic and the state-imposed lockdown. The company, which has lost about 90% of its market value in 2020 so far, […]