Since our last communication, we have observed the labor troubles that have gripped the platinum group metals ("platinum") industry and the world's attention morph into a broader political issue. In our view, these events, in fact, represent a grand failing of South Africa's industrial policy.

We would like to begin by expressing our deepest sadness for the manner in which matters at the Lonmin-owned mine, Marikana, have unfolded in recent days. We also wish to convey our condolences to the families of the deceased. This grave outcome demonstrates that the

Since the first commercial mine in South Africa was established in the middle of the 19th century, mining has been a driving force in the country’s economic development and cultural history. The country continues to be famous for its abundance of natural resources which account

The Holy Grail is not just a biblical concept. It transcends natural and social sciences as well as the arts. Not only does every researcher or practitioner have that one question they would love to see answered, successfully answering that question is what catapults them

The US downgrade to AA+ is a concrete and highly symbolic step that merely acknowledges that which the market already knows. To those needing to park excess cash safely, the US remains amongst the best of various unsavory options for those investing trillions of US

Commodity equities are difficult to invest in due to the cyclicality of commodity prices, a significant value driver. Over the years, macro economic factors impacting security of supply and consistency of demand caused cyclicality in commodity prices - the larger tHe shock to supply or

Our investment philosophy, outlined in our Investment Guide, is a discussion of how we invest profitably on behalf of clients; this is a discussion of what makes it possible for us to do so. Choosing to be an active manager does not automatically bestow one

Some investors flock to gold as a “safe haven” when faced with concerns about rampant inflation on the one hand or disasters in the economy and financial markets on the other hand. In this exercise, we test this rule of thumb against reality by comparing

The propensity of branded food producing companies to earn superior returns relative to the cost of capital, and commensurately, perform well on the stock market lead us to write this paper. Upstream weaknesses such as global warming and impact of year to-year variations in temperature

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