| The gold price has rallied by about 20% over the past year, supported by global uncertainty over the trade spat between the US and China, the UK's Brexit from the European Union, and now the coronavirus. That's been good for gold producers, particularly South African miners who have had the additional benefit of a weaker rand. It has also sparked activity in the sector. Harmony Gold is one of those that benefits from rand weakness and, due to its improved circumstances, it is buying the Mponeng gold mine as AngloGold Ashanti exits South Africa for better opportunities elsewhere. Harmony clearly believes it can make a go of it and it will lift its production nicely if everything goes according to plan. Meanwhile, Gold Fields has paid down debt due to improved cash generation and is going ahead with its Salares Norte project in Chile, which it says will change its profile considerably going forward. Mine dump processor DRDGOLD is also making the most of the higher gold price as it starts to get the benefit of the West Rand tailings it acquired from Sibanye-Stillwater back in 2017. It's not all about gold in today's newsletter - food production also features. Pioneer Foods has received Competition Commission clearance for its takeover by the US's PepsiCo. Not such good news from Tiger Brands though as it expects to report a decline in first-half earnings. Also today, Barloworld is keeping an eye on developments surrounding the coronavirus and the implications it could have for global growth and demand for its machinery. Finally, Jaltech Fund Managers, explains the A to Z of Section 12J investments. Follow this link to find out more. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
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