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COMMODITY NEWSBRIEFS: 16 SEPTEMBER 2014 Please note that these articles are available in electronic format and can be requested and delivered via e-Mail.

(http://intra.spoornet.co.za) Natasha.Havenga@transnet.net

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FAST MOVING CONSUMER GOODS SABMILLER LEAPS AS MERGER TALK FOLLOWS HEINEKEN ‘NO’ (Business Day, 16/9/2014) SABMiller’s value on the JSE ballooned by R94bn to R1.19-trillion yesterday after reports suggested it was likely to be at the center of any mooted consolidation among the world’s biggest brewers. SABMiller’s shares rallied in delayed morning trade after Heineken confirmed on Sunday that it had rejected a takeover proposal by SABMiller. The stock received a further lift after a separate report said Anheuser-Busch InBev (AB InBev) was gearing up to buy SABMiller. AB InBev is the world’s biggest brewer of beer by market capitalisation and volumes brewed, followed by SABMiller, Heineken and Carlsberg. After news of the Heineken bid, the Wall Street Journal yesterday cited a source saying AB InBev was talking to banks about financing what could be a R1.3-trillion deal to buy SABMiller. SABMiller’s shares jumped almost 13% before closing 9.66% up at R668.91 yesterday — giving the company its highest market capitalisation yet, of R1.08-trillion. CONSTRUCTION, BUILDING MATERIALS & CEMENT SA TRADING ENVIRONMENT ‘TOUGH’, SAYS PPC (Engineering News, 14/9/2014) Slow economic growth and a lack of infrastructural investment, coupled with increased competitor activity and rising imports, have made the trading environment in South Africa “particularly tough”, JSE-listed cement producer PPC said in an operational update published on Monday. In the update, which covered the period from October 2013 to July 2014, PPC noted that, to counter the low single-digit volume declines in all areas around the country, it had marginally raised selling prices. Market volumes and prices in Botswana had also declined but the Zimbabwe market had recorded modest volume growth. PPC pointed out that group export volumes into the rest of Africa had shown good growth, particularly out of the Western Cape into the Democratic Republic of Congo (DRC), where the company was “starting to establish a market”. Meanwhile, the lime division’s performance had been impacted by lower offtake from the steel and alloys industries and reduced export demand, resulting in single-digit volume declines. The aggregates divisions, both in South Africa and Botswana, had, however, achieved pleasing volume growth. COAL Link to SA Coal Report – 16 September 2014

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NON-FERROUS METALS ANGLOGOLD SHARES POP UP AS EQUITY RAISING DITCHED, COLOMBIAN UNLOCKING MOOTED (Mining Weekly, 15/9/2014) The shares of gold major AngloGold Ashanti rose more than 5% in less than an hour on Monday after the company announced the withdrawal of its five-day-old proposal to demerge 35% of its international assets and raise $2.1-billion in equity capital and was considering partnering to unlock value from its large Colombian resource base. “The extent of the capital ask right now is a price nobody is prepared to pay to unlock the restructure,” CEO Srinivasan Venkatakrishnan (Venkat) told journalists in a hastily arranged media conference call to announce the rapid ditching of its unpalatable capital raising plan. To replace it, Venkat said that work on group optionality would continue at a time of rising production, falling costs and opportunities to extract value from Colombia in particular. CURRENCIES AND PRICES

ALSI: 3 month to 15 Sep 14

Mil & Guardian, 16/9/2014) COPPER A – SETTLEMENT PRICE – 6850 FORWARD RATES - Dollar/rand 4pm close: R10, 9822

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JSE AS AT 17:00PM 15 SEPTEMBER 2014

All Share Index 15/09 51,377

+ 128.86 + 0.25%

Industrials Index 15/09 47,003

- 509.88 - 1.07%

Financials Index 15/09 38,178

- 297.69 - 0.77%

Top 40 Index 15/09 46,032

+ 166.87 + 0.36%

Industrial 25 Index 15/09 61,153

+ 709.82 + 1.17%

Financial 15 Index 15/09 14,657

- 148.40 - 1.00%

Resources 10 Index 15/09 54,862

- 279.14 - 0.51%

Alt-X Index 15/09 1,323

- 6.90 - 0.52%

WORLD INDICATORS

FOREX

Rand/Dollar 06:42 10.9642

- 0.04 - 0.40%

Rand/Pound

06:45 17.7434

- 0.14 - 0.77%

Rand/Euro 06:45 14.1808

- 0.09 - 0.65%

COMMODITIES

Gold (usd/oz) 06:42 1,236.42

+ 7.12 + 0.58%

Platinum (usd/oz)

06:42 1,368.25

+ 0.25 + 0.02%

Brent (usd/barrel) 06:36 98.00

+ 0.89 + 0.92%

WORLD MARKETS

Wall St (DJIA) 15/09 17,031

+ 43.63 + 0.26%

Germany (DAX)

15/09 9,660

- 31.65 - 0.33%

Japan (Nikkei) 06:39 15,902

- 46.02 - 0.29%

Business Report, 16/9/2014)

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Petrol/ Diesel Price

YR2014

01-Jan-

14

05-Feb-

14

05-Mar-

14

02-Apr-

14

07-May-

14

04-Jun-

14

02-Jul-

14

06-Aug-

14

03-Sep-

14

01-Oct-

14

05-Nov-

14

03-Dec-

14

COASTAL

95 LRP (c/l) 1320.00 1359.00 1395.00 1398.00 1383.00 1361.00 1392.00 1392.00 1325.00

95 ULP (c/l) 1320.00 1359.00 1395.00 1398.00 1383.00 1361.00 1392.00 1392.00 1325.00

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Diesel 0.05% (c/l) 1260.55 1284.75 1311.95 1299.15 1269.37 1245.79 1259.79 1254.17 1228.79

Diesel 0.005% (c/l) 1263.95 1288.15 1316.35 1304.55 1274.77 1249.19 1263.19 1258.57 1234.19

Illuminating Paraffin (c/l) 963.828 975.828 991.828 953.028 934.028 924.028 947.028 940.028 921.028

Liquefied Petroleum Gas

(c/kg) 2260.00 2314.00 2372.00 2350.00 2346.00 2319.00 2377.00 2365.00 2257.00

GAUTENG

93 LRP (c/l) 1336.00 1375.00 1411.00 1416.00 1401.00 1379.00 1408.00 1408.00 1341.00

93 ULP (c/l) 1336.00 1375.00 1411.00 1416.00 1401.00 1379.00 1408.00 1408.00 1341.00

95 ULP (c/l) 1357.00 1396.00 1432.00 1439.00 1424.00 1402.00 1433.00 1433.00 1366.00

Diesel 0.05% (c/l) 1287.15 1311.35 1338.55 1329.75 1299.97 1276.39 1290.39 1284.77 1259.39

Diesel 0.005% (c/l) 1290.55 1314.75 1342.95 1335.15 1305.37 1279.79 1293.79 1289.17 1264.79

Illuminating Paraffin (c/l) 1009.728 1021.728 1037.728 1003.228 984.228 974.228 997.228 990.228 971.228

Liquefied Petroleum Gas

(c/kg) 2442.00 2496.00 2554.00 2532.00 2528.00 2501.00 2559.00 2547.00 2439.00

YR2013

02-Jan-

13

06-Feb-

13

06-Mar-

13

03-Apr-

13

01-May-

13

05-Jun-

13

03-Jul-

13

07-Aug-

13

04-Sep-

13

02-Oct-

13

06-Nov-

13

04-Dec-

13

COASTAL

95 LRP (c/l) 1151.00 1192.00 1273.00 1283.00 1210.00 1202.00 1286.00 1318.00 1313.00 1293.00 1265.00 1282.00

95 ULP (c/l) 1151.00 1192.00 1273.00 1283.00 1210.00 1202.00 1286.00 1318.00 1313.00 1293.00 1265.00 1282.00

Diesel 0.05% (c/l) 1086.67 1104.47 1162.85 1170.01 1114.45 1110.47 1188.67 1221.63 1235.45 1233.45 1218.25 1228.37

Diesel 0.005% (c/l) 1091.07 1108.87 1167.25 1175.41 1118.85 1114.87 1193.07 1226.03 1240.85 1238.85 1221.65 1231.77

Illuminating Paraffin (c/l) 807.128 833.128 890.128 860.328 802.328 803.328 878.328 903.328 928.328 924.328 908.328 924.828

Liquefied Petroleum Gas

(c/kg) 2047.00 2120.00 2238.00 2183.00 2102.00 2107.00 2236.00 2258.00 2267.00 2227.00 2186.00 2204.00

GAUTENG

93 LRP (c/l) 1165.00 1206.00 1287.00 1297.00 1224.00 1216.00 1300.00 1332.00 1327.00 1308.00 1280.00 1297.00

93 ULP (c/l) 1165.00 1206.00 1287.00 1297.00 1224.00 1216.00 1300.00 1332.00 1327.00 1308.00 1280.00 1297.00

95 ULP (c/l) 1186.00 1227.00 1308.00 1320.00 1247.00 1239.00 1323.00 1355.00 1350.00 1330.00 1302.00 1319.00

Diesel 0.05% (c/l) 1111.37 1129.17 1187.55 1196.61 1141.05 1137.07 1215.27 1248.23 1262.05 1260.05 1244.85 1254.97

Diesel 0.005% (c/l) 1115.77 1133.57 1191.95 1202.01 1145.45 1141.47 1219.67 1252.63 1267.45 1265.45 1248.25 1258.37

Illuminating Paraffin (c/l) 849.028 875.028 932.028 906.228 848.228 849.228 924.228 949.228 974.228 970.228 954.228 970.728

Liquefied Petroleum Gas

(c/kg) 2229.00 2302.00 2420.00 2365.00 2284.00 2289.00 2418.00 2440.00 2449.00 2409.00 2368.00 2386.00

(SAPIA online)

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Daily prices for 15 September 2014

LME Official Prices, US$ per tonne

Contract Aluminium Alloy Aluminium Copper Lead Nickel Tin Zinc NASAAC

Cash Buyer 2110.00 1957.50 6849.00 2102.50 18250.00 21125.00 2254.00 2275.00

Cash Seller & Settlement 2115.00 1958.50 6850.00 2103.00 18255.00 21150.00 2255.00 2280.00

3-months Buyer 2115.00 2000.00 6819.50 2114.00 18325.00 21100.00 2262.00 2305.00

3-months Seller 2125.00 2001.00 6820.50 2115.00 18350.00 21150.00 2263.00 2315.00

15-months Buyer 21205.00

15-months Seller 21255.00

Dec 3 Buyer 2153.00 6705.00 2170.00 18160.00 2248.00

Dec 3 Seller 2158.00 6715.00 2175.00 18260.00 2253.00

(London Metal Exchange, 16/9/2014)

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