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Premier mining and commodity investment news

Oil traders confront a new world without China bull factor

14 Sep 2024 /  Bloomberg News
Poll showed that a 200 000 barrel-a-day expansion is expected for this year.

World’s oldest guerrilla force revives war on oil companies

14 Sep 2024 /  Bloomberg News
The leftist group also renewed hostilities with government security forces, opening fire on police bases and killing five soldiers in ambushes.

Built-up cities get more rain than rural outskirts, study finds

14 Sep 2024 /  Matthew Griffin, Bloomberg
Urban areas are already vulnerable to flooding because of factors including impervious surfaces and inadequate drainage systems.
1

Gold hits successive record highs ahead of expected Fed rate cut

13 Sep 2024 /  Sybilla Gross, Bloomberg
Spot gold was up 0.4% to $2 566.81 at 11:18 a.m. in London.

Oil set for first weekly gain in a month on storm, risk-on tone

13 Sep 2024 /  Yongchang Chin, Bloomberg
Brent for November settlement rose 0.6% to $72.41 a barrel at 2:01 p.m. in Singapore

Zambian copper mines desperate for power find an unlikely saviour

13 Sep 2024 /  Matthew Hill and William Clowes, Bloomberg
Yet even with the imports, Zesco still sees a deficit for at least the remainder of 2024.
11

Electricity minister on mission to ‘demystify’ nuclear energy

13 Sep 2024 /  Antoinette Slabbert
Scientists, not lobbyists, must lead the conversation, says Ramokgopa.
UPDATE

Gold climbs to a record as US data bolster Fed rate cut case

12 Sep 2024 /  Sybilla Gross, Bloomberg
It pared some of the gains to trade at $2 539.52 as of 9:11 a.m. in New York. Silver, platinum and palladium all advanced. 
2

Sibanye to slash output in bid to turn around US palladium mines

12 Sep 2024 /  William Clowes, Bloomberg
'The capital investment required is not feasible at current PGM prices.'

Oil steadies as traders look to hurricane Francine, IEA snapshot

12 Sep 2024 /  Yongchang Chin, Bloomberg
Brent for November settlement rose 0.5% to $70.99 a barrel at 11:26 a.m. in Singapore.

Gold rises ahead of inflation data as traders await rate cut

11 Sep 2024 /  Sybilla Gross, Bloomberg
Spot gold was up 0.3% at $2 525.17 an ounce as of 8:09 a.m. in London, after peaking at a record $2 531.75 in August.
UPDATE
1

Oil’s fall into $60s widens runway for global economy to make a soft landing

11 Sep 2024 /  Craig Stirling and Grant Smith, Bloomberg
For monetary institutions poised to cut rates this month, the recent decline in oil prices has already opened the door wider to easing
UPDATE
1

Amplats falls after parent Anglo starts cutting majority stake

11 Sep 2024 /  Ciaran Ryan
Following an accelerated bookbuild which raised R7.2bn.
1

Gold steady as market awaits inflation data ahead of Fed meeting

10 Sep 2024 /  Sybilla Gross and Jack Wittels, Bloomberg
Spot gold edged 0.2% lower at $2 501.39 an ounce by 9:20 a.m. in London.

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ECONOMIC DATA  

  CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products Aug 2024 4.60%
  CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing Aug 2024 4.90%
  RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee. Sep 2024 8.25%
  Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance) Sep 2024 11.75%

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