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Malema to speak at Mining for Change (MfC) summit next week (7 September) Print E-mail
Written by Angelo Coppola   
The organisers of the mining summit ( www.miningforchange.co.za <http://www.miningforchange.co.za>  ) to be held at the Sandton Convention Centre on 6 and 7 September have confirmed that ANCYL president Julius Malema will present the youth league’s view on the nationalisation of mines in South Africa on day two (7 September) of the summit.

Malema is the latest addition to a high level line-up of local and international speakers including Minister Susan Shabangu, Joel Netshitenzhe, Jeremy Cronin, Buti Manamela, Heinz Pley, Duma Gqubule and Jacinto Rocha.

The summit is themed: "A roadmap to development and sustainable growth", and will serve as a tool for enhancing the economic and developmental potential of South Africa's mining industry. It plans to address the challenges to and opportunities for expanding the long-term contribution of this industry to the sustained growth of the South African economy.
 
First Mohair auction of the 2010 winter season trends down Print E-mail
Written by Angelo Coppola   
The first mohair auction of the 2010 winter season took place in Port Elizabeth on 24 August, and it wasn’t good news: Fine adults were down 13%, strong adults were down 16%, and the average was down 13%. However the average market indicator is still 17% higher than the corresponding sale of 2009.

The auction offered 130 991kgs of this sought after fibre and Deon Saayman, general manager of Mohair SA, says that the off-season in Europe and China continues to create uncertainty among mohair buyers, specifically when it comes to the demand for mohair for the rest of the season.

On the other hand Saayman says that that news from the Far East still suggests that there is a good level of interest in mohair and that the adult market may well stabilize later in the season.

While much had been made of the ban by China, the ban only applies to “greasy” mohair, which accounted for just six percent of the total exports for the first seven months of 2010, while processed mohair accounted for 91% of total exports.  He suggests that the decrease in adult prices should rather be seen, to a degree, as a correction in the market.

He says that the strong currency against the dollar also negatively impacted on adult mohair prices. The slower demand for adults resulted in some volumes of adult being kept back by brokers, bringing the total sales clearance to 70.5%.

There was good competition for young goats' hair on today's sale, with winter kids also experiencing fair demand. Summer kids and young goats are not quoted due to the small volume on offer.

Compared to the corresponding sale of 2009, prices were as follows: Winter Kids up 12%; Winter Young goats up 40%

The second sale of the winter season is scheduled for 07 September 2010.
 
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