24 April 2010

Gold is here to stay and with HARMONY  mining in Papua New Guinea where the costs of mining gold are around $350 per ounce,this one new mine to watch out for.
Platinim is also on the march  as the world starts to recover .Read the full reports in early may on http://www.sashares2010.blogspot.com/
The next great chase is on
There is a word wide scramble to find LITHIUM,used in electric cars,computers etc.Over a hundred companies are taking part.Lithium is found in clays and brine.

The COAL price  has almost reached $100 per tonne FOB at Richards coal terminal.This is the first time for about a year that it has gone to this price.India and China is now taking 50% of our export coal.Europe is becoming worried about the future as they might NOT be able to get enough supplies in three months time to build up stocks for their next winter.

April update

 Both Mick Davis of Xstrata and Cynthia Carrol of Anglo have now issued statements that there can be no further expansuion of mining in South Africa unless the authorities take action to increase te supply of electricty.
Anglo has taken the additional steps of looking into the possibility of setting up their own power station to add at least another 30 % to the amount of electricty they already  have at their disposal.
Go also to the sashares2010 blogspot for the latest news
Today 9/4/2010 Escom got its 4 billion loan from the world bank to build its coal electricty generating powerstation.There were many reservations but as its going to be a cleaner burning power station along the lines of those at presently being erected in America,those opposing on those grounds really have not got a case.