Court orders sheriff to seize Kego Mining’s assets over R51m debt
The junior miner has until 8 May to explain why the order should not be made final.
Auto Added by WPeMatico
The junior miner has until 8 May to explain why the order should not be made final.
How it will be funded is still unclear.
The surprise of the year ‘was how safe-haven metals turned into momentum trades’.
Claims that it cannot compete with international smelters whose electricity costs are roughly half of its own.
As Africa gains from commodities.
Many in the industry are forecasting a shortage of the metal as the global economy electrifies, leading to a series of approaches among big miners, including a failed bid by BHP for Anglo American Plc.
Oxford Economics reckons that over the next 10 years, demand for drinkable water will increase by more than 10% in some areas.
Spot gold rose as much as 1.2% to a peak above $4 530 an ounce, while platinum traded above $2 400 an ounce for the first time.
While it pulled back in afternoon trade, it is still a record year for bullion.
The recent surge has come as the London market shows signs of tightening, with banks parking metal in the US to insure against the risk of tariffs.