In Brief Nedbank secures US$200 m loan

JOHANNESBURG – South African banking group Nedbank has secured a US$200 million (N$1,2 billion) dual-currency loan from 13 foreign banks for corporate funding purposes and to refinance an existing facility, the group said yesterday.

Nedbank said the loan will be available for drawing in either dollars or euros. The book runners include Calyon, the Royal Bank of Scotland and Sumitomo Mitsui Banking Corporation Europe.Anglo American net profit up 39% LONDON – Anglo American PLC reported a 39 per cent gain in yearly net profit yesterday as China’s surging economy helped drive up prices of coal, copper, zinc, platinum, iron ore and vanadium.The mining company, which has dual listing in London and South Africa, said net profit for 2004 was US$3,74 billion (N$22,8 billion), up from US$2,68 billion in 2003.Revenue rose to US$29,4 billion from US$26,3 billion.The company also announced that it intends to sell shares in AngloGold Ashanti, but intends to remain a significant shareholder in the medium term.Kenyan tea firmer on low supply NAIROBI – Kenyan tea prices at this week’s auction were generally firmer on reduced supply as the east African country’s drought deepens, traders said yesterday.”It’s looking very good on the price side, but the actual volume of tea going through the Mombasa auction is actually half of what was produced last year,” one trader said.Drought is expected to drive Kenya’s 2006 tea production down by 16 per cent to 276 million kg from 328 million in 2005, the Tea Board of Kenya said on Tuesday.Mombasa-based Africa Tea Brokers (ATB) said 64 135 packages were offered at the weekly sale compared with 72 572 at the previous auction.53 635 packages were sold.Brighter Best Pekoe Ones (BPIs) sold at US$2,36 – US$2,81 compared with US$2,37 – US$3,11 at the last auction.Brighter Pekoes Fanning Ones (PFIs) changed hands at US$2,80-US$3,31 compared with a record US$4 on the topside during the last sale.- Nampa-AP-ReutersThe book runners include Calyon, the Royal Bank of Scotland and Sumitomo Mitsui Banking Corporation Europe.Anglo American net profit up 39% LONDON – Anglo American PLC reported a 39 per cent gain in yearly net profit yesterday as China’s surging economy helped drive up prices of coal, copper, zinc, platinum, iron ore and vanadium.The mining company, which has dual listing in London and South Africa, said net profit for 2004 was US$3,74 billion (N$22,8 billion), up from US$2,68 billion in 2003.Revenue rose to US$29,4 billion from US$26,3 billion.The company also announced that it intends to sell shares in AngloGold Ashanti, but intends to remain a significant shareholder in the medium term.Kenyan tea firmer on low supply NAIROBI – Kenyan tea prices at this week’s auction were generally firmer on reduced supply as the east African country’s drought deepens, traders said yesterday.”It’s looking very good on the price side, but the actual volume of tea going through the Mombasa auction is actually half of what was produced last year,” one trader said.Drought is expected to drive Kenya’s 2006 tea production down by 16 per cent to 276 million kg from 328 million in 2005, the Tea Board of Kenya said on Tuesday.Mombasa-based Africa Tea Brokers (ATB) said 64 135 packages were offered at the weekly sale compared with 72 572 at the previous auction.53 635 packages were sold.Brighter Best Pekoe Ones (BPIs) sold at US$2,36 – US$2,81 compared with US$2,37 – US$3,11 at the last auction.Brighter Pekoes Fanning Ones (PFIs) changed hands at US$2,80-US$3,31 compared with a record US$4 on the topside during the last sale.- Nampa-AP-Reuters