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R.I. Update for Monday 1 December 2008

Resource Investor
 TOP STORIES
  
Keaton has "Enough Cash" For Project
By Charlotte Mathews, 28 Nov 2008, 04:00 AM
Keaton Energy Holdings, which listed on the JSE in April, was holding enough money to develop its most important project, at Delmas in Mpumalanga, to produce 2-million tons of coal a year, it said.

Delta May Challenge Liberia's Iron-Ore Tender Ruling
By Charlotte Mathews, 28 Nov 2008, 03:00 AM
South Africa-based minerals company Delta Mining Consolidated is considering an appeal against a ruling that it has to bid again for the Western Cluster iron-ore project in Liberia.

Sasol Sheltered From The Storm
By Siseko Njobeni, 28 Nov 2008, 01:00 AM
The weaker rand, new plants and its diversified nature will minimise the effect of the global petrochemical industry's downturn on Sasol, say Standard & Poor's analysts.

Metorex Has To Raise R922 Million
By Charlotte Mathews, 30 Nov 2008, 12:00 AM
Diversified minerals group Metorex had to raise R922 million in fresh debt and equity, and restructure about R2 billion of its medium-term debt to complete its flagship Ruashi II copper project in the Democratic Republic of Congo, it said.

Russian Metals Giant Faces Heat In Nigeria
By John Helmer, 28 Nov 2008, 02:00 AM
Financial collapse inside Oleg Deripaska's aluminium empire in Moscow is triggering fresh moves to oust his company from Nigeria and the Republic of Guinea.

Germany Needs High Wage Settlements And A Serious Fiscal Stimulus
By Andrea Boltho and Wendy Carlin, 28 Nov 2008, 01:00 AM
Germany is in better shape than many to weather the financial crisis. But, this article argues, it needs to raise private consumption with a substantial fiscal stimulus and higher real wages, lest it run the risk of slipping into combined stagnation and deflation.

Invaluable Advice From Master Investors
By Michel Pireu, 28 Nov 2008, 12:00 AM
One of the great things about The Global-Investor Book of Investing Rules — in which 150 prominent investment authors and analysts each provide a set of investment rules — are the many quotes included in the intervening pages.

Water Paper 'Offensive To Struggle'
By Neels Blom, 28 Nov 2008, 12:31 AM
Council for Scientific and Industrial Research (CSIR) water politics specialist Anthony Turton's water crisis presentation was suppressed partly because members of the liberation movement would have been offended, CSIR executive Pat Manders said yesterday.

Xstrata In Rights Row With Former Minister
By Stephan Hofstatter, 28 Nov 2008, 12:22 AM
Water Affairs Minister Lindiwe Hendricks has been implicated by global mining company Xstrata in a court battle over mineral prospecting rights worth billions.

Fedusa Calls For Moratorium On Job Losses
By Amy Musgrave, 28 Nov 2008, 02:00 AM
The Federation of Unions of SA (Fedusa) has called for a moratorium on retrenchments in South Africa (SA), which are expected to drastically increase as a result of the global financial meltdown.

Iceland Faces The Music
By Gylfi Zoega, 29 Nov 2008, 10:41 AM
Iceland's meltdown was caused by the rapid emergence of an oversized banking sector and accompanying domestic credit creation, asset bubbles and excessive indebtedness that all this encouraged. This article draws lessons from this crisis and suggests Iceland should join the E.U. if it wants to stand a chance at keeping its well-educated young people from emigrating.

The Financial Meltdown Is An Academic Crisis Too
By Richard Dale, 29 Nov 2008, 10:37 AM
Recent events have not been kind to the modern financial market structure. This article blames the prevailing consensus amongst finance academics for underestimating the irrationality and instability involved. Has the discipline failed to understand global financial markets?





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