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Diversified Miners News

Russia gem deal a lesson for SA?

By: Irma Venter     12th April 2002 In December last year Sergei Broukovsky gave up on his diamond cutting business in Johannesburg and returned to his native Russia. 

Study advances for new million-ton coal-mine

By: Joanne Delaurentis     12th April 2002 The initial phase of the feasibility study for the development of Kumba Coal’s new Kalbasfontein mine, in Mpumalanga, has been completed, and a second value-engineering phase is under way to determine ways in which to optimise the profitability of the resource, reports Kumba Resources GM of... 

Mining giant to cut dependence on SA assets

10th April 2002 Mining giant Anglo American’s convertible bond issue has brought back into focus the mining giant’s need to reduce reliance on its South African assets, most likely through foreign acquisitions, industry analysts said. 

Group in $1-billion bonds issue

9th April 2002 Mining giant Anglo American has launched an issue of $1-billion 3-3/8% convertible bonds due April 17, 2007 convertible into ordinary shares of Anglo American. 

Mining giant sets stiff new targets

9th April 2002 New performance targets have been unveiled by BHP Billiton to boost its bottom line, as a new chief executive prepares to take the helm of the world’s largest diversified miner. 

Can Zambia emerge from its Copperbelt Crisis?

8th April 2002 Zambia – Copper is still Zambia's major foreign-exchange earner – even after the privatisation of State mines – and will be for some time to come. 

Heavy-minerals exploration in Malawi

By: Marcel Chimwala     5th April 2002 A subsidiary of an Australian company Resource Drilling, Millenium Mining, has launched an exploration for heavy minerals and natural gas in Malawi. 

Can Zambia emerge from its Copperbelt Crisis?

5th April 2002 Copper is still Zambia's major foreign-exchange earner – even after the privatisation of state mines – and will be for some time to come. 

Diamond giant buys R10-million in software

5th April 2002 Diamond giant De Beers has purchased ActaWorks software from Global Technology Business Intelligence (GBI) in a deal worth over R10-million. 

Global positioning system for Botswana diamond-mine

5th April 2002 Leader in high-tech mine management solutions Modular Mining Systems is in the process of installing the ProVision high-precision global positioning system (HPGPS) and other modular equipment at Debswana Diamond Mining Company’s Jwaneng diamond-mine in Botswana, in Southern Africa. 

World's No1 miner to set new targets

4th April 2002 Two years ago Australia’s largest miner, BHP, set out a five-year plan to cut spending and sharply boost returns following a sweep-out of assets that had destroyed several billion dollars in shareholder value. 

Resources giant sees gloomy outlook

1st April 2002 The world’s largest diversified miner, BHP Billiton, reported a 33% slide in third-quarter profit, meeting the low end of market forecasts, and said it saw no firm signs of recovery. 

Mpumalanga colliery rehabilitation steams ahead

By: candice haase     29th March 2002 Mining Weekly features reporter Candice Haase discusses the progress of the rehabilitation of Springbok Valley in the vicinity of Anglo Coal’s Goedehoop colliery, in Mpumalanga, with environmental engineer Richard Garner. 

Empowerment deal breathes new life in gem dumps

By: Joanne Delaurentis     29th March 2002 Determined to extend the life of Kimberley diamond-mines well into the next century, South African diamond giant De Beers has sold its dormant Kamfersdam mine and tailings dumps to black-owned mining company New Diamond Corporation (NDC). 

Solution sought for coal-miner's rail woes

29th March 2002 After surviving a tough quarter, Metorex Limited’s Wakefield collieries in Mpumalanga are expected to increase production by 100 000 t, totalling 350 000 sales tons in the last quarter of this year. 

Resource giant halts iron deliveries

27th March 2002 Diversified miner BHP Billiton said it could not meet supply contract obligations from its iron plant in Western Australia after suspending operations because of a technical mishap. 

Irish miner receives expressions of interest for Moz project

20th March 2002 Irish mining firm Kenmare Resources has received expressions of interest to provide loans totalling $130-million for the development of the Moma Titanium Minerals Project in Mozambique. 

New mining power restructures, lists

20th March 2002 Swiss minerals group Xstrata said shareholders had approved a restructuring plan involving a $2,5-billion takeover of foreign coal assets and moving the company’s primary listing to London. 

Big pay package for mining boss

19th March 2002 Swiss miner Xstrata chief executive Mick Davis is to receive a bumper pay deal of  

Swiss miner plans to raise £850m in London IPO

18th March 2002 Miner Xstrata, which plans to list on the London stock market, boosted the fund-raising target for its initial share offer by  

Mining tech group is core to Anglo

15th March 2002 Natural-resources company Anglo American has formally declared that it would retain its mining-technology subsidiary, Boart International, as a core business. 

Diamond giant's HIV-prevalence is below the industry's average

By: Irma Venter     15th March 2002 Initial findings from a two-year study indicate the HIV/Aids prevalence at diamond-miner De Beers is 15%. 

Product polishes diamond-miner's network operations and upgrades

15th March 2002 In the ten months that marine diamond mining firm De Beers Marine has used NetIQ’s Operations Manager product to monitor its data networks, the company has substantially improved issues such as security and reporting while reducing downtime and maintenance requirements. 

Mining giant’s faith in SA grows afresh

By: Terence Creamer     14th March 2002 The world’s third-largest mining company, Anglo American, is pursuing a suite of growth projects worth $5-billion, revealing, too, that South Africa remains an attractive destination for mining investment. 

Lindahl gives up Anglo's chair

13th March 2002 The former ABB CE at the centre of a pensions scandal, bowed out as chairperson-elect at mining giant Anglo American. 

Mining giant in R4bn iron-ore move

12th March 2002 Mining giant Anglo American has acquired significant stakes in two South African mining companies - Kumba Resources and Anglovaal Mining (Avmin) - in a bid strengthen its hand in the iron-sector. 

Aussie steel firm's product escapes US tariffs

7th March 2002 Resources company BHP Billiton said its largest single category of steel exports to the US had escaped the hefty new tariffs announced by President George W Bush. 

Diversity delivers for resources giant

By: Keith Campbell     1st March 2002 MULTINATIONAL mining and metals group BHP Billiton is benefitting from its diversified operations, as declining prices for some commodities are balanced by rising prices for others. 

Legal review on Aussie rail access

By: Terence Creamer     1st March 2002 South Africa’s leading iron-ore producer, Kumba Resources, is in the process of garnering legal opinion whether or not it has access rights, under Western Australian law, to existing rail infrastructure in the Pilbara region of that country. 

Empowerment firm to exclude PGM's from listing offering

By: Joanne Delaurentis     25th February 2002 Black empowerment precious metal miner African Rainbow Minerals (ARM) has confirmed that it will list its gold business on the JSE Securities Exchange during the course of 2002, however, at this stage the listing will not include the company’s platinum assets. 

Swiss group emerging as coal colossus

22nd February 2002 Swiss-based natural resources group Xstrata posted a drop in earnings in 2001 as global demand for commodities slipped and it detailed plans for a $2,5-billion takeover of foreign coal businesses. 

Resources giant closes Oz colliery

18th February 2002 Diversified resources giant BHP Billiton said at the weekend that it would close the Tower Colliery in Australia's New South Wales state, citing limited coal recovery capacity and major geological problems. 

Global downturn hits gem leader

18th February 2002 The world's biggest diamond producer, De Beers, said on Friday its profit halved in 2001 as the global economic downturn slashed rough diamond sales, but said the market started 2002 in a more optimistic mood. 

Iron-ore, coal boosts resource giant

15th February 2002 The world’s largest diversified miner, BHP Billiton, reported a 3,5% profit rise for the first half of 2001/2, as iron-ore and coal, new operations and currency gains offset slides in metals and oil. 

Empowered coal firm may make its way to JSE

By: Terence Creamer     15th February 2002 South Africa’s newest mining house, Kumba Resources, says it is open to the listing of a separate coal company on the JSE Securities Exchange once the merger between Kumba Coal and Eyesizwe is concluded. 

Africa still important – Anglo

14th February 2002 Mining giant Anglo American, smarting from criticism over its decision to withdraw from the Konkola copper mines in Zambia, said it remained committed to Africa and to finding new mines there. 

Big profits forecast for resources giant

11th February 2002 Strong iron-ore and coal sales and gains from a falling South African rand are expected to give BHP Billiton, the world’s largest diversified miner, a flat first half profit near $1,16-billion. 

Zambian Copperbelt comeback collapses

8th February 2002 Scarcely 18 months ago, there was much optimism about what had been dubbed the Zambian ‘Copperbelt comeback’, following the formation of the Anglo-backed Konkola Copper Mines (KCM), which included the much sought-after $500-million Konkola Deep Mining Project (KDMP). 

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