South African Foreign Reserves Increase 2.7% in August on Gold Price Surge
Bloomberg reported that the value of South Africa's gold reserves increased by 2.7% in August.
Articles Tagged "South Africa"
South African Gold Production Rose 6.4% in Quarter, Chamber of Mines Says
Bloomberg reported that second quarter gold production in South Africa was 6.4% higher than the previous quarter.
AngloGold, Gold Fields, Harmony Make New ‘Final’ Wage Proposal, Unions Say
Bloomberg reported that South Africa's gold miners have made what they say is a final offer to striking mine workers.
Gold Output in South Africa Climbs 3.4% From Year Earlier, Chamber Says
Bloomberg reported that production of gold in South Africa was up slightly from the same period last year.
NUM Demands 14% Wage Increase from Gold and Coal Miners
Mining Weekly reported that National Union Mineworkers in South Africa are asking for a wage increase higher than inflation.
Investec Said to Provide Gold One With $210 Million Loan
Bloomberg reported that South African bank Investec will be lending $210 to Gold One (PINK:GLDZF) to fund an acquisition.
Anglo American Must Take Blame for Sick Miners, South African Group Says
Bloomberg reported that lawyers representing miners who got sick at one of Anglo's (LON:AAL) South African mines say Anglo should take responsibility.
Harmony May Reopen South Africa Mine Tuesday
Reuters Africa reported that Harmony Gold (NYSE:HMY) said it will likely reopen a mine in South Africa on Tuesday.
AngloGold Boosts Dividend, Accelerates Debt Payments
Bloomberg reports that after a decision to eliminate gold hedges increased spare funds, AngloGold Ashanti Ltd.(JNB:ANG) increased its dividend and paid back debt earlier than expected.
Gold Price Trends
Overall, the gold price is up 11 percent in the last three months, and over the last year the spot price is up by 24 percent. The price of physical gold has outperformed most other major asset classes following the global financial crisis, appreciating by approximately 67 percent while equity markets, are still in negative territory.
