AngloGold Plans to Boost Output, Reduce Costs After Second-Quarter Profit

(Bloomberg) -- AngloGold Ashanti Ltd., Africa's
largest gold producer, said it will increase production and
reduce costs after posting a 1.08 billion-rand ($152.3 million)
second-quarter profit.

Net income was 3.85 rand a share, compared with a loss of
150 million rand, or 53 cents, in the first quarter, the
Johannesburg-based company said today in a statement. Chief
Executive Officer Bobby Godsell, 54, also announced his
retirement after almost a decade in his post.


Read more at Bloomberg Emerging Markets News

S.Africa stocks hit 4-week low amid global sell-off

(Reuters) - South African stocks slid to an almost four-week closing low on Thursday as softer metal prices hit mining stocks and global jitters about the U.S. housing market and high oil prices hurt broader sentiment.

The Johannesburg Top-40 index of blue-chip stocks fell 1.85 percent to 25,844.39 points -- its lowest closing level since June 29. The Johannesburg All-share index slid 1.78 percent to 28,585.84 points.


Read more at Reuters Africa

AIDS Pandemic Gives AllLife, Insurers Profits in South Africa's HIV Battle

(Bloomberg) -- In South Africa, where one in nine
people is HIV positive, life-insurance companies are making money
in an AIDS pandemic.

AllLife Ltd. was the first to sell policies to South
Africans who agree to regular AIDS checkups. Almost two years
later, the Johannesburg-based company has yet to get a claim.
Neither has rival Altrisk Ltd. since it started offering similar
products 15 months ago. Sanlam Ltd., the biggest insurer based in
South Africa, plans to enter the market of 2 million HIV-positive
people who have jobs and access to life-saving drugs.


Read more at Bloomberg Exclusive News

S.African stocks close stronger, led by Anglo jump

(Reuters) - South African shares closed stronger on Monday with index heavyweight Anglo American jumping over seven percent ahead of the separate listing of its paper manufacturing unit Mondi on Tuesday.

"The broader market was in positive territory today, and there was lots of value unlocking around the Anglo stock today because of Mondi," a Johannesburg-based trader said.


Read more at Reuters Africa

Uranium Price May Rise to $200 a Ton in Year Before Falling, Investec Says

(Bloomberg) -- Uranium prices may rise to $200 a
pound within the next year because of a shortage of the nuclear
material, Investec Securities said.

The metal, currently trading at $138 a pound, may average
$160 a pound in 2009 before declining to an average of $50 a
pound from 2013, Leon Esterhuizen, a Johannesburg-based analyst
at Investec, wrote in the report yesterday that was obtained by
Bloomberg. Esterhuizen declined to comment on the report when
called on his mobile phone.


Read more at Bloomberg Energy News

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

Eland Platinum Asks JSE to Investigate After Shares Plunged This Week

(Bloomberg) -- Eland Platinum Holdings Ltd., whose
stock plunged 20 percent this week on speculation that potential
bidders pulled out of takeover talks, asked the Johannesburg
stock exchange to investigate volatility in its shares.

The company is still in talks that may affect its shares,
Johannesburg-based Eland said in an e-mailed statement today.
Articles published recently on Mineweb.com contain ``material
inaccuracies'' about Eland, it added.


Read more at Bloomberg Emerging Markets News