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Gold News

Mining giant increases stake in SA gold major

28th June 2002 Mining giant Anglo American said on Friday it had raised its stake in Gold Fields by 3,9%, bringing its holding in South Africa's second-largest gold producer to 20%. 

Central Bank approves shareholding change at gold firm

28th June 2002 The South African Reserve Bank's decision to allow Randgold & Exploration (RG&E) to reduce its shareholding in London-listed subsidiary Randgold Resources (RRL) is a significant breakthrough, chairperson Roger Kebble said in the annual report published yesterday. 

China gold drilling programme starts

27th June 2002 A major drill programme on the Gobi Gold Project has started. 

Not all gloom on Zambia's Copperbelt

25th June 2002 Resource company First Quantum Minerals has announced the results of the engineering study for the phase one development of First Quantum's 80%-owned Kansanshi copper-gold project in Zambia. 

Free State miner seeks London listing

25th June 2002 The Board of Thistle Mining announced its intention to seek a listing on the Alternative Investment Market of the London Stock Exchange, by way of a fundraising and placing of new ordinary shares in the company within the next two months. 

SA gold miners Down Under

By: Martin Zhuwakinyu     24th June 2002 South African gold-mining firms have, in recent years, accelerated their foray into Australia, a largely surface-mining country now facing the challenge of going underground. 

Gold firm moves towards US listing

24th June 2002 Gold company Randgold Resources has announced that it has filed a registration statement with the US Securities and Exchange Commission with the intention of listing in that country. 

S African miners in golden chess game Down Under

By: Martin Zhuwakinyu     21st June 2002 South African gold-mining firms have in recent years accelerated their foray into Australia, a largely surface-mining country now facing the challenge of going underground. 

Gold company merger next month

21st June 2002 JSE Securities Exchange-listed companies Consolidated African Mines Ltd (CAM) and JCI Gold expect a “dramatic improvement” in their financial results in the coming year, once the two companies have been merged into a new listed entity called JCI Ltd. 

Bursaries on offer for mining studies

21st June 2002 To meet the need for higher-level skills in the mining and minerals sector, the Mining Qualifications Authority (MQA), through the National Skills Fund (NSF), is offering bursaries to students in related study fields. 

Support for Ghana miner’s debt restructuring

20th June 2002 African gold miner Ashanti Goldfields has won the backing of most of its bondholders for a life-saving debt-restructuring. 

Platinum, gold remain strong

20th June 2002 A weak stock market and tumbling dollar kept gold looking strong Wednesday, in a trade influenced by investor jitters about a new cycle of Palestinian attacks and Israeli retaliation. 

Golden Peru shining strongly

By: Keith Campbell     14th June 2002 Peru continues to shine as one of the most prospective areas in the world for gold mining. 

SA jewellery council launches three diamond projects

By: Zonika Botha     14th June 2002 Traditionally known as the country of gold and diamonds, it is believed that in many instances South African shopping malls and jewellery stores, in particular, can compete anywhere in the world in terms of the image and quality they represent. 

Tourism boom boosts diamond jewellery sales

By: Zonika Botha     14th June 2002 Ever since the first democratic election in 1994, South Africa has become a tourist haven, attracting international visitors from all corners of the world. 

Gold rush fuelling mine deaths – mine inspector

13th June 2002 A spate of deaths in South African gold and platinum mines could be related to a surge in metals prices prompting firms to ramp up output, the country’s chief mine inspector and a major trade union said. 

Asbestos claim in way of platinum deal

12th June 2002 It is too early for struggling gold producers to get complacent about the recent strength in bullion prices, because the industry cannot sustain itself over the long haul if gold stays under $350 an ounce, the chief executive of the world’s largest gold mining company said. 

Brazilian miner teams up on Peru deal

11th June 2002 One of Chile’s largest copper producers, Antofagasta and Brazil’s Companhia Vale do Rio Doce (CVRD) said they will join forces to explore a promising region of southern Peru that could yield copper and gold. 

SA gold firm seeks Australian listing

11th June 2002 South Africa's number four gold mining group, Durban Roodepoort Deep (DRD), said it was seeking a full listing on the Australian Stock Exchange (ASX) to attract more Australian shareholders. 

The disappearing act of Gauteng's golden dumps

By: Keith Campbell     10th June 2002 The Hloekisa Project is a proposal to reprocess all gold mine dumps on the Witwatersrand, not just the profitable ones, as an environmental remediation programme. 

Brazil's gold output to fall 11% in 2002

10th June 2002 Brazil’s gold output should fall more than 11% in 2002 from last year’s 51,9 tons as spent mines are phased out and surface gold becomes scarcer, a national mining department expert said. 

SA gold firm starts legal action in Australia

10th June 2002 South African gold miner Durban Roodepoort Deep has started legal proceedings in Australia to recover misappropriated funds. 

Tower cranes are to raise gold production

7th June 2002 Johannesburg-based SA French, the Southern African distributors for Potain, has recently supplied two new tower cranes for use in the 220 000 t/m gold plant at South Deep mine, in Gauteng, which is a joint venture between Western Areas and Canadian miner Placer Dome. 

The disappearing act of Gauteng's golden dumps

By: Keith Campbell     7th June 2002 The Hloekisa Project is a proposal to reprocess all gold mine dumps on the Witwatersrand, not just the profitable ones, as an environmental remediation programme. 

SA gold major quashes OZ mine deal report

7th June 2002 South Africa’s AngloGold doused media speculation that it was close to making a pitch for full control of one of Australia’s largest undeveloped gold mines. 

New gold project for Chile

6th June 2002 Canadian miner Barrick Gold said it could start work on its $450-million Veladero gold project this year but will keep on hold the adjacent $1,2-billion Pascua Lama mine that straddles the Chile-Argentina border. 

Gold price to arrest slide in SA gold output

5th June 2002 The spike in the price of bullion to five-year highs will slow the pace of decline in South African gold output as well as boost the country's economy, the mining industry said. 

Rerating for gold group

3rd June 2002 International ratings agency Fitch said that it has upgraded its ratings for South Africa’s third-largest gold producer Harmony gold. 

Gold miner, union settles dispute

3rd June 2002 Gold miner Harmony announced the details of the agreement reached with the National Union of Mineworkers (NUM) at its Kalgold operations. 

SA miner denies reports of mine closure

3rd June 2002 Chairperson and Chief Executive Officer of mid-tier gold miner, Durban Roodepoort Deep, Mark Wellesley-Wood has strongly denied reports that the company was "set to lose over 40% of its refined gold production this year due to the exhaustion of a mine". 

Investor interest in gold surges, despite general demand slump

By: Joanne Delaurentis     31st May 2002 World gold demand for the first quarter of this year has been characterised by a 15% decrease in jewellery sales, to some 623,9 t, as opposed to this time last year. 

Motsepe on gold industry consolidation

By: Keith Campbell     31st May 2002 International investors in Europe and North America have been suggesting that African Rainbow Minerals Gold should consider merging with Harmony Gold. 

Gold miner, union resolve dispute

31st May 2002 Gold miner Harmony has reached an agreement in principal to resolve the illegal strike at its Kalgold operations, the details of which to be announced. 

Aussie gold takeover target wants higher bid

31st May 2002 Australian miner AurionGold said it believes the market is calling for a higher takeover bid by Placer Dome, which has offered $1,1- billion in shares for the Australian gold miner. 

Gold industry may face 'dirty gold' fight

30th May 2002 What if gold were no longer an object of desire but an object of disgust? What if environmentalists were able to do to the image of the glittering metal what animal rights activists did to the fur coat? 

North American gold major will boost exploration if Oz deal succeeds

30th May 2002 Gold miner Placer Dome , which made a surprise takeover bid for Australian miner AurionGold earlier this week, said it foresees its exploration budget rising by more than 15% if the takeover is successful. 

SA No 1 gold miner finds big gold deposit in Peru

29th May 2002 South African mining company AngloGold has made a major gold discovery in south-eastern Peru that this poor Andean nation hopes could turn out to be as promising as Yanacocha, the region’s biggest gold mine, a Peruvian mining official said. 

Second bidder could emerge for Aus gold producer

29th May 2002 Whispers that Australian takeover target AurionGold days as an independent company were numbered started long before Placer Dome launched its A$2-billion scrip bid for the company. 

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