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Gold News

Seventh listing goes to Australia

By: System Author     26th March 1999 Outside of South Africa, Durban Roodepoort Deep (DRD) has wholly-owned subsidiary DRD Australasia bidding in a R272-million paper deal for all the shares in Emperor Mines of Sydney, owner of Vatukoula gold-mine in Fiji, with which chairperson Roger Kebble has fallen in love. This is linked to... 

Campbell, Balmertown, Ontario

By: System Author     26th March 1999 Name: Campbell Location: Balmertown, north-western Ontario, Canada Brief description: The Campbell underground gold-mine has been in operation since 1949 and has a continual programme of development. Sinking of the Reid Shaft has been completed and an underground infrastructure system has been... 

Drilling contract progresses

By: System Author     26th March 1999 An estimated R6-million exploration contract at Anglogold’s Fochville drilling project in the North West Province by wholly-owned Anglo American subsidiary Boart Longyear is clocking up significant progress. Mining Weekly has learnt that one of the two deep-hole sites is on track for... 

Digging Africa out of poverty

By: System Author     19th March 1999 The mining sector is a beacon of hope for Africa, Mining Weekly can today report. “Most African economies are resource based, and minerals are definitely an important asset for the continent – moreover, one can’t say that all of Africa’s resources have been... 

Serving the interests of SA mine engineers

By: System Author     19th March 1999 THE representative body for engineers working on South African mines – the Association of Mine Resident Engineers of South Africa (Amre) – celebrated its 75th birthday in February this year, thereby becoming one of the oldest associations of its kind in the country. With 500 members... 

40 valves for gold-mine

By: System Author     19th March 1999 In a contract valued at R70 000, Macneil Steel & Valve, of Germiston, Gauteng, delivered about 40 valves to East Driefontein gold-mine in the North West Province in November last year. “The actuated diaphragm and butterfly valves will be used on the mine’s slurry-processing... 

President Steyn: big revival under way

By: System Author     12th March 1999 The enthusiastic new entrepreneur owners of the historic 51-year-old President Steyn Gold Mine are discovering wonderful wealth in the unlikeliest of locations in this large six-shaft-and-gold-plant operation which includes neighbouring Freddies and Loraine. Mining Weekly can today report that... 

Reserves 50% developed

By: System Author     12th March 1999 President Steyn mines six shafts and operates its own gold plant in the Free State goldfield near Welkom. Half of the ore reserves of the Loraine three shaft and the Freddies seven and nine shafts – which are contiguous and forming a single mining area – are pre-developed and... 

Grade of 15 000 g/t

By: System Author     12th March 1999 Rudimentary methods of reclaiming gold from the old Freddies nine gold plant have proved such a success they are being repeated at the old President Steyn mill. The mills have rendered unto the new owners 20-to-30 kg of solid gold a month, and now the same yield is being demanded of the concrete... 

The golden triangle

By: System Author     12th March 1999 Shafts seven, nine and three form the golden triangle in which mined, partly-mined and virgin ground is poised to thrust the company well into the new millennium. Drilling is under way there to confirm the expectation of 20 years more mining at a grade of 9 g/t. Indications are good, with a... 

Cash cost of R45 000/oz

By: System Author     12th March 1999 To produce a kilogram of gold currently costs President Steyn R45 000, but macro and micro efforts are under way to lower this to R39 000. Micro savings are being brought about by unorthodox procurement styles. For instance, Van Tonder saw to it that a saving of nearly R2-million was realised on... 

New gold-mine is all set to hit the ground running

By: System Author     12th March 1999 Software company Megkon Systems Technology (MST), of Pretoria, has secured a six-month implementation contract for phase one of the maintenance inventory and purchasing systems solution for Avgold’s new Target gold mine in the Free State, which is scheduled to begin production in July. In... 

US, China save platinum’s day

By: System Author     12th March 1999 Not only has the world demand for platinum jewellery held up despite global economic turmoil, but markets outside Japan – traditionally by far the most important single market for the product – have shown strong growth. While the global market for platinum jewellery grew by only 1,4%... 

It’s TM for Thabo Mbeki

By: System Author     12th March 1999 The 500-student technical training centre stimulated entrepreneur Mac van der Merwe to seize the President Steyn opportunity. Every aspect of technical training is catered for in this well-equipped facility tailor-made for South Africa’s skills-hungry millions. The centre, originally built... 

President Steyn Gold Mine, South Africa

By: System Author     12th March 1999 Name: President Steyn Gold Mine (PSGM) Location: Welkom, Free State Age: 51 years Brief description: PSGM owns and operates five shafts, which include President Steyn No. 1 and 2 shafts, Freddies No. 7 and 9 shafts, and Loraine No. 3 shaft. The mine has three owners, namely Mac van der Merwe... 

Lions tame Driefontein

By: System Author     5th March 1999 outh Africa’s two golden lions have stepped in to tame the shareholder fight over Driefontein. In the biggest gold-mining story of the year, South Africa’s two largest producers have reached a new truce, and a new consensus, over the way Driefontein should be mined today, and how its... 

From the Wits Basin to Patagonia

By: System Author     5th March 1999 The world’s largest gold producer is having to acclimatise itself to mining conditions far outside its traditional Witwatersrand-Basin experience. The acquisition by Anglogold of Minorco’s gold assets will take the company to such exotic places as the Nevada desert in the US, the... 

Morila project shines

By: System Author     5th March 1999 With development of its US$92-million Morila project in Mali on track, Randgold Resources is starting to shine as one of the more significant gold producers in Africa, reveals MD Dr Mark Bristow in an exclusive interview with Mining Weekly. Said to be the highest-quality gold discovery in Africa... 

African gold exploration

By: System Author     5th March 1999 Despite political upheaval and social and economic instability in many African countries, international companies are still willing to take the risk to explore mining opportunities on the continent. Following the establishment of a regional office in South Africa in 1997, UK exploration company... 

Technology to revolutionise South African milling circuits

By: System Author     5th March 1999 A NEW screening technology has been developed by local company Particle Separation Systems to assist with the accurate screening of mineral particles. The pansep screen is a unique screening device that screens large quanities of particles and is helping mines to improve throughput as well as... 

Big new gold resource found in West Africa

By: System Author     5th March 1999 Aresource of 1,9-million ounces of gold has been found at Yatela deposit, 25 km north of Sadiola gold mine in Mali, West Africa. The resource estimate, which is owned by the 50:50 Anglogold/Iamgold joint venture known as Sadex, has been prepared by the mineral resource management department of... 

Gold semis by June

By: System Author     26th February 1999 Production of semi-fabricated gold items by Rand Refinery is expected to start during the first half of this year. The refinery’s initiative to produce semi-fabricated jewellery products (semis) is set to boost the capacity of the local jewellery-manufacturing industry and open up... 

World record on way – and deep also cheap

By: System Author     26th February 1999 South Africa is on course to complete the deepest excavation in the world by March 2000, which will help to unlock an additional 15-million ounces of gold on the Far West Rand. This will happen as South Mine, now at 3 737 m below surface, overtakes current record-holder West Mine, which is at 3... 

Company strikes gold with Chile orders

By: System Author     26th February 1999 An order to supply equipment for the El Penon gold project in Chile has been won by Delkor South America (DSA) of Santiago. The multimillion-dollar order was placed by Signet Engineering of Australia, the main contractor for the project. DSA will manufacture and supply certain key components for... 

Gold to the masses

By: System Author     19th February 1999 The individual consumer is steadily gaining on the world’s central banks in the race to influence the future of the world gold market. It is an active and deliberate contest, and one which will have a profound impact on the destiny of many local and international gold firms. The intention... 

First Birthday wish: Stock-price rerating

By: System Author     12th February 1999 A full year into its campaign, Gold Fields Limited is still struggling with the same old problem: how to go about promoting a rerating of its stock among local and international investors. Indeed, this issue is a nagging question for all leaders of the post-apartheid South African gold-mining... 

Gold, coal prospects in Botswana

By: System Author     12th February 1999 Gold and coal are Botswana’s main mining prospects this year, with potential for openpit coal-mining and underground gold-mining being investigated. Botswana director of mines Ribson Gabonowe tells Mining Weekly that only six building and industrial minerals quarries were awarded mining... 

Gold firm sticks to mining – for the time being

By: System Author     12th February 1999 No further downstream diversification to produce more value-added gold products is planned for the near future by Harmony Gold Mining of the Free State, Mining Weekly can today report. The company made headlines when it moved downstream by first commissioning its own refinery and then launching... 

New-age Free State mine on target

By: System Author     12th February 1999 The new Free State gold-mine of Avgold, Target, is on course to become a showcase mine. “At full production we expect Target to produce 330 000 ounces of gold a year, with 90 000 t of ore a month being mined in a highly-mechanised manner by highly-skilled workers,” projects and... 

Golden couple exchange rings

By: System Author     12th February 1999 The due-diligence investigation by Canadian company Placer Dome, which is seeking to acquire a 50% interest in local gold-mine Western Areas, is complete, and both parties are in the final stages of concluding detailed joint-venture agreements, Mining Weekly can today report. Speaking at the... 

Evander Mpumalanga

By: System Author     12th February 1999 Name: Evander Location: In Evander in the Highveld Ridge magisterial district, Mpumalanga, about 120 km east of Johannesburg Age: 40 years Brief history: The Winkelhaak mines were formed in 1955, being the first gold-mining company in the Evander basin. The first gold was poured in 1958. In 1959,... 

Upgrade for W Rand mines

By: System Author     5th February 1999 Johannesburg gold-producer Durban Roodepoort Deep (DRD) has identified a slew of new projects aimed at stabilising the position of a group whose survival was in serious jeopardy only a year-and-a-half ago. About R25-million-worth of capital is likely to be spent by DRD over the next four months;... 

New light shines on coal

By: System Author     5th February 1999 Coal is the second-largest commodity in South Africa, yet it is not seen in the same light as the country’s most glamorous mineral, gold. C&N Coal Consultancy co-founder Nikki Wagner believes a shift in mindset is required to change the image of coal. “Coal has always traditionally... 

A golden opportunity from adversity

By: System Author     5th February 1999 The survival strategies adopted by South African gold-mining companies have been bearing fruit, but the industry is not out of the woods yet. “The proportion of gold production from mines producing at less than US$300/oz increased from 35% in the first quarter of 1997 to 89% by the second... 

Gold producers and the millenium bug

By: System Author     5th February 1999 The Year 2000 (Y2K) computer-readiness issue will emerge as a minor net positive for most gold producers, report Douglas Cohen and Eleni Mavromati of Morgan Stanley Dean Witter. A small but growing number of investors appear to be turning towards gold as a potential store of value if Y2K causes... 

Golden focus on India and China

By: System Author     5th February 1999 INDIA and China will be the focus of gold consumption in the next millennium, said AngloGold CEO Bobby Godsell at the launch of the Pan-Asian Millennium Gold for Eternity Design Competition in Beijing. Both countries had embarked on a “one-way road to full liberalisation” of the gold... 

Euroland is world’s largest holder of gold

By: System Author     5th February 1999 The European System of Central Banks (ESCB or Eurosystem) is now, as a consequence of the changes resulting from the introduction of the euro, the world’s largest single holder of gold, easily exceeding the amount held by the world’s previous largest holder, the US. The ESCB consists... 

Shining year envisaged

By: System Author     5th February 1999 With the platinum-group metals (PGMs) industry in good shape, assisted by the turmoil in the palladium industry and the growth in the market for platinum jewellery, South African producers can look forward to a shining year. “South Africa’s PGM production, of which platinum accounts... 

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