BHP vs. DRDGOLD
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After such a positive response to yesterday’s piece on Absa vs. Standard Bank, I’m very pleased to bring you a mining-focused article that contrasts BHP and DRDGOLD. For context, DRDGOLD’s market cap is just 1% the size of BHP. One is all about gold, while the other has reached a point where copper is more than half of EBITDA. This is a game of diversification vs. focus that you can enjoy here.
Comic Con Africa is more than an event. It’s now a lifestyle movement and one of Africa’s biggest pop culture events.
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And as always - good luck in the markets today!
BHP vs. DRDGOLD: broader into copper; deeper into gold
In this deep dive, I contrast BHP and DRDGOLD as mining houses at the opposite end of the size and capex spectrum.
Where BHP has diversified into copper, DRDGOLD has stuck to its knitting.
But will that continue?
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Global markets update with Shaun Murison
The US Treasury announced it will double the size of its buybacks for 10 to 30 year debt securities, taking each operation to at least $4 billion. This marked the second time this month that Treasury Secretary Scott Bessent has intervened in financial markets, having stepped into currency markets earlier in the month to support the Japanese yen.
Markets reacted mostly positively to the news, with the Dow and S&P 500 rising, although the Nasdaq underperformed its peers into yesterday's close.
The dollar softened on the announcement, while gold and precious metal prices surged. Oil prices remain elevated as Middle East tensions persist, with Trump announcing he will now pressure Iran with economic sanctions like never before.
Futures markets are modestly firmer this morning, as are most Asian markets.
The rand is firm, and we expect a positive start for the JSE All Share index.
This update is provided by Shaun Murison, Senior Market Analyst at randswiss.com. Connect with him on LinkedIn here and follow him on X here.
Key Indicators:
USD/ZAR R16.11/$ | US 10yr 4.65% | Gold $4,487/oz | Platinum $1,810/oz | Brent Crude $87.51