The rand is showing remarkable resilience in the face of global financial turmoil but is dangerously near the edge of a precipice which if breached, analysts say, could herald a rapid slide towards R9 to the dollar.
South African financial markets ended the day significantly weaker after the news of the resignation of 11 cabinet ministers thundered across the country and wreaked havoc with investor confidence both at home and abroad.
PetroSA is ready to send a team as early as next month to assess the possibility possibilities of drilling for oil in Venezuela following the energy co-operation agreement signed yesterday with the Latin American country, CEO Sipho Mkhize said.
Presumably the 'heat' on western mining companies will diminish as rival political factions will today start substantive talks on a power-sharing deal. It marks the beginning of the end of President Robert Mugabe's iron-fisted 28-year grip on power.