Articles by South Africa
South Africa's Lonmin Miners End Strike
September 18 2012 3:30 PM EDT
Lonmin miners who went on strike last month have agreed to a 22 percent pay raise and will return to work this week. But the strike has taken a toll on South Africa's economy, and other mines still face unrest.
Morning Platinum Market Report 9/17
September 17 2012 10:28 AM EDT
After a strong rally last week, platinum prices overnight have fallen back from Friday's high for the move. Fresh and aggressive easing talk from the Federal Reserve was seen as a major component for last week's rally but the market's main source of support remains the ongoing labor unrest in South Africa.
South Africa Vows To Clamp Down On Spreading Labor Unrest
September 14 2012 2:25 PM EDT
Mining strikes against Lonmin Platinum continued in South Africa as the government vowed to crack down on the violence.
Morning Platinum Market Report 9/14
September 14 2012 10:00 AM EDT
October platinum has continued to climb higher this morning, and rose above the $1,700 level for the first time in 6 months. While platinum may have found support from yesterday's FOMC meeting results, many traders feel that the main source of strength continues to come from South African labor problems. Striking miners at the Marikana mine have rejected the latest pay offer from Lonmin, which is likely to extend their current work stoppage well into next week.
South African Activist Elder Epainette Mbeki Scolds ANC
September 13 2012 5:17 PM EDT
Epainette Mbeki, mother of former South African President Thabo Mbeki and revered anti-Apartheid activist, recently criticized the country's ruling African National Congress which had pressured her son to resign in 2007. The ANC continues to have wide support in South Africa, but Mbeki stressed that its leaders needed to communicate better with the people or public unrest would increase amid the country's persistent economic disparities.
Zimbabwe's Mugabe Insults Jamaicans, Sparking Fury And Introspection
September 13 2012 12:09 PM EDT
Zimbabwe's President, Robert Mugabe, has chastised the men of Jamaica, suggesting they are all drunkards and dope addicts.
Morning Platinum Market Report 9/13
September 13 2012 9:56 AM EDT
October platinum has continued to rise this morning, although some traders feel that the market may be unable to climb far above yesterday's high in front of today's FOMC meeting announcement. While labor unrest in South Africa continues to be widely viewed as the main source of strength for the platinum market, any disappointment with the Fed's actions later today may result in prices falling well below their recent highs.
Monetary “Floodgates” And Geopolitical Unrest To Support Precious Metals
September 13 2012 8:00 AM EDT
Monetary “Floodgates” And Geopolitical Unrest To Support Precious Metals
Morning Gold Market Report 9/12
September 12 2012 11:08 AM EDT
The gold market got a boost overnight after the German High Court refused to block ratification of the European Stability Mechanism. This lent support to the Euro and sent the Dollar Index to its lowest level since May 4th, which was enough to push December gold to its highest level since February 29th. With that out of the way, the market can now focus on the FOMC meeting today and tomorrow.
Morning Platinum Market Report 9/12
September 12 2012 11:07 AM EDT
October platinum has posted huge gains this morning, and is now more than $100 higher for the month of September. Although some traders feel that there has been broad-based support from the German ESM court ruling and a sharply lower Dollar, most in the market feel that platinum's main source of strength continues to come from labor unrest in South Africa.
South Africa Mining Strikes Spread
September 11 2012 11:39 AM EDT
The world's second-largest platinum producer said striking South African miners are demanding another 8 to 10 percent pay hike like the one they received in April that ended a six-week strike.
The Great Rhino Rescue: African Communities Band Together To Stop Horn Poaching
September 11 2012 10:52 AM EDT
Rhino poaching has seen a resurgence in recent years due to an increase of demand for their horns in Asian markets. But all across Africa, local community members are working tocreate sanctuaries and lessen the risk of extinction.
Morning Platinum Market Report 9/11
September 11 2012 10:17 AM EDT
October platinum is positing moderate losses this morning, although prices remain in close proximity to yesterday's new 4 1/2-month high. Labor unrest in South Africa continues to be viewed by many traders as the main source of strength for platinum prices, as workers at a major producer are asking for a pay hike for the second time this year.
Morning Platinum Market Report 9/10
September 10 2012 10:44 AM EDT
October platinum started out the new trading week in close proximity to last Friday's high for the move but some traders feel that prices may be reluctant to climb up into new high ground. Labor unrest in South Africa continues to provide solid support for the market, as the strike has now spread to another key platinum producer in the region. With futures open interest and ETP participation expanding at a large rate, other traders feel that there is rising potential for a sizable pullback in...
The Drinking Tiger: Asian Beer Consumption Goes Up, Heralding Prosperity
September 07 2012 6:21 AM EDT
It's a sign of good times in the Eastern Hemisphere: beer is becoming more and more popular in Asia.
African Astronauts? Sudan’s Bashir Calls For African Space Agency
September 06 2012 2:36 PM EDT
Some critics question the need for a poor region like Africa to even consider such an expensive project as going into space.
Morning Platinum Market Report 9/06
September 06 2012 1:04 PM EDT
October platinum continued to climb higher this morning and has reached a new 4 1/2-month high. Labor strife in South Africa is widely seen as the main source of support for the market, although improving risk sentiment in front of today's ECB meeting may have helped prices with maintaining an upward trajectory this week. While a major South African platinum producer has put together an agreement to end violence at their mine, not all parties have signed onto it which could mean that the curr...
Finance, Oil Ministries Push for Fuel Price Increase
September 06 2012 12:21 AM EDT
The finance and oil ministries are lobbying for an increase in prices of diesel, kerosene and LPG, warning cabinet colleagues that time is running out to avert a fiscal disaster and a sovereign credit downgrade to junk by global ratings agencies.
Morning Platinum Market Report 9/05
September 05 2012 10:22 AM EDT
October platinum has posted moderate losses this morning but has already seen a significant rebound from the overnight lows. Labor problems in South Africa continue to be widely seen as the main source of support for platinum prices,
Great White Shark Attack Victim Achmat Hassiem Wins Bronze At 2012 London Paralympics
September 04 2012 10:43 AM EDT
Achmat Hasseim lost his right leg in a great white shark attack, and the Paralympic swimmer from South Africa used that frightening experience to propel himself to a bronze medal in Saturday's men's 100-meter butterfly in London.