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Daily podcast – July 23, 2009
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23rd July 2009
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This podcast is brought to you by the Bearing Man Group - South Africa's finest source of quality engineering components and expertise.

Thursday, July 23, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

JSE-listed gold-mining junior Simmer & Jack Mines has moved to close its uneconomic underground operations in Mpumalanga province.

Simmers said that its wholly owned Transvaal Gold Mining Estates had issued a Section 189(a) notice to organised labour to begin a consultation process aimed at closing the TGME underground division until such time as its low-cost, high-margin surface projects could be commissioned.

The company anticipated that the process would put 271 job opportunities at risk in the Pilgrim's Rest region.

JSE- and London-listed Lonmin's platinum production fell by 8% in the third quarter of the 2009 financial year, while platinum-group metals production was down 13% compared with the third quarter of 2008.

The platinum-miner, led by CEO Ian Farmer, stated on Thursday that its production target for the full-year remained at between 680 000 and 700 000 ounces.

Meanwhile, the company said its No 1 furnace would start to tap matte again in "the coming days", but would operate at reduced power until a redesign of the matte tap hole area could be completed and a rebuild initiated.

This was planned for the first quarter of the 2010 financial year.

Also making headlines:

Mintails dashes DRDGold's surface-mining expansion aspirations.
Guinea tells Rio Tinto to give up its battle to retain concessions on the Simandou iron-ore project.
The former head of Kazakhstan's state nuclear company denies illegally taking over uranium deposits.
And, Keaton Energy will start exploration drilling at its Sterkfontein extension project in mid-August.

That's a round up of news making headlines today. For more on these and other stories please visit


Edited by: Shannon de Ryhove


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