From Mining Weekly in Johannesburg, I am Olivia Spadavecchia.
In our lead story this week:
South African mine workers made history when thousands members of National Union of Mineworkers downed tools in the country’s first national safety strike.
Over 200 workers have died in the country’s mines this year alone.
This industry-wide industrial action has hit the country’s mines’ output hard, with most mining firms reporting substantial production losses.
While an estimated 240 000 employees stayed away from work, about 8 000 workers gathered in Johannesburg to hand over memorandums to the Chamber of Mines and various government departments.
The Chamber of Mines says workers and employers will have to work together to bring an end to the mine fatalities in South Africa, otherwise the one-day work stoppage was a “waste of time”.
Chamber of Mines’ senior executive Frans Barker
Black-owned diversified mining company Exxaro says it is assessing further downstream opportunities to add value to the coal that it produces.
This move could include converting coal into vehicle fuel and supplying independent power producers.
CEO Sipho Nkosi says, however, that Exxaro "could never look at" producing liquid fuels on its own, and that it will "have to partner with someone in the know", such as the world's biggest coal-to-liquids producer, Sasol.
Diamond giant De Beers will bring on stream two new South African diamond projects worth R2,2-billion in the next two years.
De Beers Consolidated Mines Managing Director David Noko says the South African Sea Areas project, a marine mining operation off South Africa's West Coast, will be commissioned next year and Voorspoed, the new Free State mine, in 2009,
This comes as the company’s strategic asset-disposal programme, aimed at achieving a certain level of return on capital, is drawing to an end.
Gem mining company Rockwell has set an ambitious target of more than doubling its current production to produce as much as 80 000 carats a year by 2011.
The company plans to achieve these growth targets through expanding its existing operations as well as through acquisitions.
CEO John Bristow
In international mining news:
Russian billionaire Roman Abramovich's investment company, Millhouse, has agreed to pay some $400-million for what will amount to 40% of Aim-listed Highland Gold Mining.
Highland Gold Mining owns three gold projects in Russia, as well as one producing mine, and seven exploration properties.
Toronto-listed Denison Mines and its joint-venture partners, Areva Resources Canada and OURD Canada, will spend about C$400-million to build a new uranium mine, in that country.
The opencast mine is expected to produce some 36-million pounds of uranium between 2011 and 2013.
Also in this week’s Mining Weekly Online:
African gold-miner Randgold Resources has raised some $211,5-million for the development of its Tongon project and other organic and corporate opportunities, such as acquisitions.
Diamond explorer African Diamonds says it is expecting a final decision on a mining licence for the Botswana-based AK6 gem prospect early next year. This will pave the way for diamond production to start towards the end of 2009.
BHP Billiton's strategy and business development vice-president Ken Greve will be leaving the diversified mining group at the end of the year to join boutique South African resources consultancy Allan Hochreiter.
And in this week’s Mining Weekly magazine, out on Friday, read our cover story on the Richtersveld community and the R400-million gift from government.
We also look at the diamond sales and how the run-up to Christmas is the most crucial period for sales, and report on JSE-listed Simmer & Jack that may decide to separate its gold assets out into a new structure.
Finally, don’t miss our features on Anglo Platinum and Goedgevonden.
That’s a round up of this week’s stories on Creamer Media’s Mining Weekly. For more on these and other stories, visit miningweekly.com














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