It is ironic that coal fired power plants contribute to climate change which could result in the malfunctioning of the power plants, writes Melanie Verwoerd.
Scattered clouds. Cool.
Thieves have broken into Harmony Gold Mining Company's Kalgold mine, stealing 12 kilograms of the precious metal worth over R6.2m.
Harmony Gold Mining says it will effectively stop mining Kusasalethu in five years, reducing the life of its third-largest mine by about 19 years.
In what has been dubbed a David versus Goliath class action lawsuit, mineworkers who contracted a terminal illness while working underground, have begun their court battle against 32 mining giants.
The situation is frustrating, to put it mildly. The gold price has blasted through US$1 500/oz but gold equities have dropped across the board in response and South African gold equities in particular remain stuck in a rut of underperformance.
Old Mutual's Meryl Pick’s Gold Fund has gained 110% this year, beating the average 2.6% across South African investments tracked by Bloomberg.
Harmony Gold has posted an 84% increase in production profit to R1.29bn quarter on quarter, mainly due to a 7% rise in the gold price received.
The JSE's gold index has risen almost as much as the gold price, but analysts still do not regard gold shares as the best way to invest in the yellow metal.
Western CapePureVoiceR10 000.00 - R30 000.00 Per Month
Cape Town Southern SuburbsCape Town Environmental Education TrustR19 000.00 Per Month
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