R/€ = 14.60 Change: -0.03
R/$ = 12.43 Change: 0.02
Au 1305.49 $/oz Change: 12.69
Pt 912.00 $/oz Change: 8.49

Martin Czernowalow

AngloGold Ashanti cuts hedge by 2,2m oz

28th January 2005 The world's second-largest gold producer cut some 2,2-million ounces, or 69 t, of gold from its hedge book during the fourth quarter of last year, as part of a drive to actively manage its hedge positions, and based on a strong outlook for the gold price. 

Gold-miner to cash in on uranium bull-run

28th January 2005 South African gold-miner AngloGold Ashanti is currently working to increase its uranium production capacity to cash in on the by-product, which is currently being buoyed by positive global market fundamentals, the company revealed at its financial results presentation yesterday. 

Rail deal opens door for big SA iron-ore push

27th January 2005 South African transport utility Transnet and diversified metals and mining company Kumba Resources yesterday jointly announced that they have signed a heads of agreement regarding a new contract for the transportation and handling of iron-ore from the Northern Cape through the Sishen-Saldanha... 

Dec gold quarter seen better, but pressure remains

25th January 2005 As the ailing South African gold-mining sector is gearing up to begin reporting fourth-quarter financial results this week, some analysts are predicting an overall improvement in the industry's performance, but have also warned that miners have not yet escaped the crushing effect of the rand. 

Harmony still confident Norilsk deal holds

20th January 2005 South African gold-miner Harmony yesterday brushed aside speculation that it may lose the support of Russian mining giant Norilsk Nickel in its bid to take over bigger rival Gold Fields. 

Still no date for Northam inquest

20th January 2005 With the completion of the Department of Minerals and Energy's (DME) report into an underground fire at South Africa's Northam Platinum, which claimed the lives of nine mineworkers last September, it is not clear when a formal inquest would be held into the accident. 

New mine-water treatment process launched

19th January 2005 A South African-developed solution to treat acid mine water drainage was yesterday launched by the East Rand Water Care Company (Erwat) and Petrex's Grootvlei Proprietary Mines, and will be used to treat extraneous water pumped by the gold-mine in the Blesbokspruit area, near Springs, in eastern... 

Anglo American may sell Kumba stake – analysts

18th January 2005 South African mining giant Anglo American could soon sell its majority stake in Kumba Resources over Kumba's loss of a $1,3-billion Australian joint-venture project, analysts say. 

Govt reinstates ERPM pumping subsidy

14th January 2005 Century-old marginal gold-miner East Rand Proprietary Mines (ERPM), which was facing certain closure in recent months, has received yet another reprieve, with government agreeing to partially reinstate the company’s water-pumping subsidy for the pumping of underground water from the Central... 

'Coal's negative effects often overstated'

14th January 2005 Reacting to recent media reports about the environmental implications of coal combustion, Minerals Bureau chief mineral economist: coal and hydrocarbons Xavier Pr 


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