South Africa coal, metal exporters to spend billions on rail
Organizations representing firms including Glencore and a unit of Anglo American are negotiating the terms of the pacts with Transnet.
Gold reached a fresh record high on Thursday as investors continue to seek for the metal as a refuge after Moody’s placed US top-notch credit rating on review for a downgrade and hints of QE3 from the Fed.
The yellow metal has also been supported by ongoing concerns over the euro zone debt crisis that deepened after Fitch downgraded Greece rating to CCC on Wednesday.
