Richards Bay Says Derailment Cancels the Delivery of 150,000 Tons of Coal

(Bloomberg) -- Richards Bay Coal Terminal, the
worlds biggest export terminal for the fuel, said a derailment on
a line to the port led to the cancelation of 15 trains, carrying
about 150,000 metric tons of coal.

The incident occurred yesterday at Ilangakazi in KwaZulu
Natal, a province of South Africa, a spokesman for the port said
in an interview from Johannesburg. The line has since been
reopened, the spokesman said.


Read more at Bloomberg Energy News

Strike halts most S.African metal, engineering work

(Reuters) - Some 260,000 workers went on strike at 9,000 South African metal and engineering firms on Monday, bringing most of the industry to a halt, a union said on Monday.

Trade union Solidarity said most workers in the heavily unionised industry had joined the strike and thousands held rallies in Johannesburg and other main cities to demand better pay and to highlight a skills shortage in the country.


Read more at Reuters Africa

Anglo Platinum Shuts Down Biggest Mine for Week After 12 Workers Killed

(Bloomberg) -- Anglo Platinum Ltd., the world's
largest platinum producer, will halt production from its biggest
mine for as long as seven days to improve safety after 12 miners
were killed in 2007.

Five workers were killed at its Rustenburg mine in the past
two weeks, the Johannesburg-based company said today in a
statement. Production will drop by between 10,000 and 15,000
ounces this year as a result of the closure, it added.


Read more at Bloomberg Emerging Markets News

S.African stocks up in step with U.S and European markets

(Reuters) - South African shares led by banking firm Abil closed stronger on Thursday, buoyed by gains on U.S. and European stock markets.

"The South African market was better today because of stronger U.S. and European markets, and the local market was also coming off a very oversold position," a Johannesburg-based trader said.


Read more at Reuters Africa

Shares in Eland Platinum Plunge on Report That Takeover Bids Were Dropped

(Bloomberg) -- Shares of Eland Platinum Holdings
Ltd., South Africa's best performing stock over the last year,
fell as much as 26 percent after a report that potential bidders
may have decided against making a takeover offer.

Xstrata Plc and BHP Billiton Ltd. were both willing to
offer around 70 rand ($9.70) for Eland, Johannesburg-based Web
site Moneyweb said, citing people familiar with the situation.
Eland rose to a record 124.90 rand on June 4, almost two months
after saying it was in talks that may affect its shares.


Read more at Bloomberg Emerging Markets News

S.Africa government bonds weaken on US treasuries sell-off

(Reuters) - South African government bonds weakened sharply in early trade in Johannesburg, in line with a softer rand currency and a U.S treasuries sell-off overnight, traders said.

Yields on the most-active 2010 issue were last 12.5 basis points higher at 8.775 percent, after jumping 16 basis points earlier, while those on the benchmark paper due in 2015 added 13 basis points to 8.25 percent.


Read more at Reuters Africa

S.African stocks up, boosted by Telkom

(Reuters) - South African stocks closed marginally higher on Monday, with fixed line telecommunications firm Telkom one of the biggest gainers among the blue-chip top 40 stocks.

"Trade has been dull today, with volumes extremely light because of UK and U.S. public holidays, which just shows how involved foreigners are in our market," a Johannesburg-based trader said.


Read more at Reuters Africa

Anglo American, Eland Platinum, Standard Bank: South African Stock Preview

(Bloomberg) -- The following stocks may rise or fall
in South Africa. Symbols are in parentheses and prices are from
the last close.

The FTSE/JSE Africa All Share Index lost 207.25, or 0.7
percent, to 28,605.69 in Johannesburg as 104 stocks fell, 34
rose and 22 were unchanged.


Read more at Bloomberg Stocks News

S.African stocks up on metal prices, overseas sentiment

(Reuters) - South African stocks rose on Wednesday, driven by solid earnings, higher gold and metal prices and positive sentiment on overseas equity markets, traders said.

The Johannesburg Top-40 index of blue-chip stocks was up 1.7 percent to end at a record high of 26077.80 points, while the broader All-share index was 1.6 percent higher at 29087.49 points.


Read more at Reuters Africa

Harmony sees uranium unit IPO in 18-30 months

(Reuters) - South African gold miner Harmony Gold wants to list its uranium business, which it values at 5 to 15 billion rand, as a separate company in the next 18-30 months, its chief executive told Reuters on Tuesday.

Bernard Swanepoel said a spin-off to existing shareholders was also a possibility but he would prefer an IPO in Johannesburg with a secondary listing in Toronto.


Read more at Reuters Africa