
Zimbabwe Currency Reserves Backing ZiG Climb to Record
The reserves climbed to $731 million from $639 million in May and $276 million in April last year, when the nation introduced Zimbabwe Gold, the currency known as the ZiG, the central bank said in a statement Wednesday.

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Yahoo
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- Yahoo
J.P. Morgan Names AngloGold Ashanti (AU) Top EMEA Gold Pick, Raises December 2026 Price Target to $63
AngloGold Ashanti PLC (NYSE:AU) is one of the best stocks to buy amid gold rally. On July 15, J.P. Morgan shifted its top pick among gold miners in the Europe, Middle East, and Africa (EMEA) region from Fresnillo PLC to AngloGold Ashanti. The firm cited cost pressures and operational factors despite a strong gold price outlook. The bank has placed AngloGold Ashanti on 'Positive Catalyst Watch' ahead of its half-year 2025 results, due on August 1. It highlighted the company's forecasted Q2 gold production of 734,000 ounces, up 2% from Q1, and an all-in sustaining cost (AISC) of $1,743/oz, which is 5% above the top end of prior guidance. Free cash flow is projected at $575 million, with a potential dividend of $1.15 per share based on a 50% payout policy. J.P. Morgan raised AngloGold's December 2026 price targets to $63 per share (for NYSE-listed shares) from $58 and to ZAR 1,140 from ZAR 1,096 (Johannesburg listing). In contrast, Fresnillo faces headwinds primarily from the strengthening of the Mexican peso by about 11% year-to-date. This movement, the bank stated, puts pressure on the company's costs, as around 40% of its expenses are peso-denominated. This has led to concerns that Fresnillo may need to raise its cost guidance, potentially reducing investment upside. AngloGold Ashanti PLC (NYSE:AU) is a global gold mining company. It explores for, develops, and produces gold across operations in Africa, the Americas, and Australia. The company's key assets include the Geita mine in Tanzania, the Obuasi and Iduapriem mines in Ghana, and the Tropicana and Sunrise Dam mines in Western Australia. AngloGold Ashanti also owns the Arthur Gold Project in Nevada, USA, which is one of the largest undeveloped gold discoveries in the country. Its primary product is gold bullion, refined from both open-pit and underground mining operations. While we acknowledge the potential of AU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio


Bloomberg
2 hours ago
- Bloomberg
South Africa Autos Supplier Takes $41 Million Tariff Hit, News24 Says
A South African company that builds automated assembly lines and develops production software for BMW AG, Volkswagen AG and Mercedes-Benz Group AG lost contracts worth 750 million rand ($41 million) as a result of new US trade tariffs, News24 reported. Jendamark Automation informed its board that the contracts that were expected to be signed within the next two to three months will no longer be happening, the website reported, citing Managing Director Siegfried Lokotsch.


News24
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- News24
Sasko bumps up its speciality bread baking to two plants as SA's low-GI hunger rises
SA's growing demand for healthier breads has seen PepsiCo SA bump up its baking to a second plant. Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once. Start your FREE trial now Show Comments ()