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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (21108)	6/10/2004 7:51:15 PM
From: sea_urchin	Respond to of 81267

> And this is the gold price in rands. Down 33% since 2002 mineweb.net >>Two of every five South African gold mines owned by the country’s major producers are operating at a loss at the current rand gold price, while almost another third are making margins of less than 10 percent. Mining executives have been vocal critics of the strong rand and the devastating effect it has had on their operations. A look at the latest set of numbers shows that their threats of shaft closures and pending job losses could soon materialise, as they redouble their efforts to bring 2.2 million ounces of annualised production back to profitability. Jobs are likely to come in for the chop, given that the price of gold is unlikely to come to the rescue; analysts reckon a weak rand and a high dollar gold price, which would give the industry some respite, is unlikely to occur any time soon. ....eight of the 19 South African mines owned collectively by AngloGold, Gold Fields, Harmony, Durban Roodepoort Deep are mining gold at a loss. Among the big three, Harmony’s situation is dire. The group’s earlier strategy of buying cheap, loss-making assets and turning them around, has fallen foul of a strengthening currency, rampant producer inflation and a rand-denominated gold price that cannot seem to rise above R85,000/kg.<<

To: sea_urchin who wrote (21108)	6/10/2004 8:05:05 PM
From: sea_urchin	Respond to of 81267

> In SA, we have to watch our backs, fronts, sides, everywhere. m1.mny.co.za >>Those who have followed the unfolding saga of the government’s attempt to regulate medicines prices will know that the proposed regulations could close over a thousand pharmacies. But did you know that they could also close down thousands of doctors? According to Managed Healthcare Systems CEO David Boyce, as many as 1 800 of the 2 500 pharmacies operating in South Africa could close if the new regulations are implemented. “Research shows that currently pharmacies are making between 2,9% and 4,2% profit on their turnover. No one can argue that this is an ‘unreasonable profit’. The margins are very small, and under the new regulations these businesses are just not viable,” said Boyce. United South African Pharmacists chairman Julian Solomon is more pessimistic. “I say that, if these regulations are implemented, we will see 100% of pharmacies close.” And it is not just pharmacies that are under threat. According to Discovery Health representative Nick Anderson, doctors will also be hurt, particularly those who rely on their dispensing activities to survive.<<