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Daily podcast – April 20, 2010
 
20th April 2010
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This podcast is brought to you by SEW Eurodrive - Leaders in the field of drive technology.

Tuesday, April 20, 2010.

From Creamer Media in Johannesburg, I'm Shannon de Ryhove.

Making headlines today:

Australia's biggest gold mine, Kalgoorlie's Super Pit, started reopening on Tuesday after it was evacuated and closed due to an earthquake.

Kalgoorlie Consolidated Gold Mines said that the nearby Mount Charlotte gold mine was expected to resume operations at the start of Tuesday night's shift.

All mines in the Kalgoorlie region in western Australia were closed after a moderate 5,2 magnitude quake on Tuesday.

The Super Pit gold mine is owned 50-50 by Newmont Mining Corporation and Barrick Gold and produces about 850 000 ounces of gold a year.


World number 3 gold producer AngloGold Ashanti could invest 2,5-billion to 3-billion-dollars to build a gold mine in Colombia if feasibility studies show the project is viable.

Colombia has granted a partial permit to AngloGold to explore the La Colosa goldmine in Tolima department, but the company is still waiting for a water permit from local authorities.

Head of AngloGold in Colombia, Rafael Herz, said AngloGold expects to invest 250-million-dollars in exploration at La Colosa in the 2010 to 2012 period.

If the company obtains the water permit, exploratory work at La Colosa to conclude feasibility studies could finish in late 2012. Mine construction could go ahead between 2014 and 2016 to begin gold production in 2016 or 2017.


Also making headlines:

It's raining equity capital for Pallinghurst as the Dutch and Singaporeans invest 400-million-dollars.
Diamond mining and exploration company DiamondCorp resumes mine development at its Lace diamond mine in South Africa, after a successful capital raising.
The Australian competition regulator hopes to decide on a proposed iron ore joint venture between Rio Tinto and BHP Billiton by the end of May.
And, junior miner Platmin to raise 250-million-dollars in a share placement.

That's a round up of news making headlines today.

 

Edited by: Shannon de Ryhove