Daily Maverick 168 weekly newspaper.
It shows that South Africa has fallen to 60th out of 77 in 2020 from 40th out of 76 in 2019. Among the 13 African countries in the index, South Africa is now a dismal 11th, overtaken by the DRC – the horror, the horror! – with only Zimbabwe and Tanzania ranked lower.
One of the striking things about this steep decline is that it comes against the backdrop of record earnings for producers of PGMs (platinum group metals). And the biggest source of PGMs is South Africa.
Gold producers have also churned out huge profits. This is because, for a range of reasons, prices have been on a tear. Gold has been lifted by its safe-haven appeal during a time of upheaval, while there are shortages of key PGMs, notably palladium and rhodium, coveted for their role as petrol catalysts.
Anglo American eyes demerger option of its coal business
By Dineo Faku
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JOHANNESBURG - ANGLO American said yesterday that the demerger of its South African thermal coal business was the top option towards executing plans to exit the business, although a trade sale would also be considered as it announced lower production due to Covid-19 disruptions during the year ended December 2020.
During a presentation of the group’s 2020 financial results, chief executive Mark Cutifani said the demerger option was the straightest line, but people were putting their hands up for a trade sale.
“We are giving those inquiries due and proper consideration.
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It was the year of Covid, but also of Chinaâs remarkable economic recovery.
The country brushed aside the effects of the pandemic in the second half of 2020 to record 6% growth in steel production over the previous year. Chinese infrastructure investment declined 20% in the first quarter of 2020, then swung back to register nearly 1% year-on-year growth.
This worked to Kumba Iron Oreâs advantage, pushing average realised prices for the year to $115 a ton.
The average price of iron ore fines delivered into Chinese ports ended 2020 17% higher than the previous year due to surging demand, helped by government stimulus packages to revive the economyand supply disruptions in key supplier economies, notably Brazil, SA, Canada, Chile and Peru.
Declares higher final dividend To invest 3.6 bln rand to extend Sishen life of mine (Adds analyst comment, cash flow, gives detail on Sishen life of mine)
JOHANNESBURG, Feb 23 (Reuters) - South African miner Kumba Iron Ore reported a 40% jump in annual profit on Tuesday and declared a strong dividend payout, driven by a surge in prices of the steel-making raw material and a weaker rand exchange rate during the year.
Majority shareholder Anglo American Plc will be a beneficiary of the strong dividend payout after Kumba reported headline earnings per share of 71.07 rand ($4.86) for the year ended December 2020, up from 50.88 rand a year earlier.