Eskom

South African Mining Minister Susan Shabangu said on Wednesday the government would act to ensure sufficient coal supplies for power generation, but urged industry to sort out the supply problem first.

South African utility Eskom said on Thursday a 10-year, $1.75 billion international bond launched this week with a 5.75 percent coupon was more than 2-1/2 times oversubscribed.

Ratings agency Fitch raised South Africa's outlook to stable from negative on Monday, saying its recovery in 2010 after a recession the year before had outpaced expectations.

Platinum supply is set to suffer setbacks in the coming months with two major producers facing problems in South Africa.

Global platinum production is set to face some crisis in the coming month as the world watches one of the biggest sports festivals in the world, the FIFA World Cup Soccer. It is strange that a sports event will help lift the prices of precious metals in the global markets. But this is not the first time sports events helped lift the prices of commodities. During the Beijing Olympics, several commodities witnessed a surge due to the increased demand from China for construction and other purposes....

The United States and Britain are threatening to withhold support for a $3.75 billion World Bank loan for a coal-fired plant in South Africa, expanding the battleground in the global debate over who should pay for clean energy.

The African Development Bank (AfDB) said on Thursday it had loaned South African state owned utility Eskom 1.86 billion euros ($2.81 billion) to finance the construction of the Medupi power project.

By Jon A Nones SEATTLE (ResourceInvestor.com): The VM Group reported on Tuesday that the platinum market will remain in a deficit of 360,800 ounces in 2008, although down from 412,400 ounces...

Platinum soared Thursday after a drop in the dollar drove traders to shift funds into hard assets as safe-haven investments. Gold and silver also hit records.

Platinum soared to its 14th consecutive record high on Tuesday as investors continue to purchase the precious metal on persisting stockpile concerns from South Africa, the metals top producer.

Platinum surged over $2,100 an ounce for the first time, gaining more than 20 percent since late January after South Africa, the largest producing nation, continues to be hard hit by power cuts that forced mines to shut down operations. Gold remained steady.

Platinum surged to a historic high above $2,000 an ounce on continuing concerns of lower output by South Africa, the world's largest platinum producer.

Platinum gained on Tuesday amid concerns that shipments from South Africa might decline due to uncertainty over electricity supplies to the mines.

Platinum prices hit a record high for the eighth straight trading day on Monday on worries power problems in top producer South Africa would hit output badly.

Platinum futures scaled a record high above $1,819 an ounce early Wednesday on continued concerns over supplies from top producer South Africa after the country started experiencing power cuts which have hindered mining operations. Gold also rose on investor demand.

Gold futures ended lower Tuesday, after surging to a record in earlier trading session, as traders predict the Federal Reserve will cut borrowing costs by half a percentage point on Wednesday and mining resumes in South Africa following power cuts.

Gold and platinum prices surged to new records on Friday on deteriorating electricity shortages in South Africa, a top producer of the precious metals, increased the supply demand.