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Gold News

Placer’s earnings soar on higher gold prices

30th April 2003 Gold producer Placer Dome reported higher first-quarter earnings yesterday, benefiting from increased production and six-year highs for gold prices. 

Barrick’s Tanzania mine hits equipment snags

29th April 2003 Canada’s Barrick Gold Corporation said yesterday its only African mine, Bulyanhulu, in Tanzania, would probably not meet 2003 production targets as it replaces underground equipment damaged by tough mining conditions. 

Brace of new gold beneficiation initiatives by Harmony

By: zeena isaacs     28th April 2003 In all five of the latest key steps taken to add value to gold in the Free State and Gauteng, one name stands out as common to all. 

Smelting process eliminated

By: zeena isaacs     25th April 2003 The traditional step of smelting gold prior to refining is completely eliminated by an innovative South African-developed technology that is being used at South Africa’s newest gold refinery in the Free State province, Mining Weekly can today report. 

Gold has begun to glitter for people of Free State

By: zeena isaacs     25th April 2003 Ever since the building of a gold refinery was first mooted for Virginia six years ago, this small Free State town has been blessed by an increasing tempo of developmental activity. 

Roll-out of world-class gold excellence begins

By: zeena isaacs     25th April 2003 A newly-launched company is strategising to be at the epicentre of world-class gold beneficiation excellence in South Africa, Mining Weekly can today report. 

Jewellery campus for Free State

By: zeena isaacs     25th April 2003 A satellite technikon campus is being established at the jewellery school in the Free State close to the Musuku gold refinery, Mining Weekly can today report. 

New gold casting innovation is taking the world by storm

By: zeena isaacs     25th April 2003 South Africa’s third-largest gold mining group, Harmony Gold, has the capacity at its new Harmony Precision Casting (HPC) plant in Randfontein to mass produce gold artefacts, Mining Weekly can today exclusively report. 

Mass-production of Lord of the Rings jewellery

By: zeena isaacs     25th April 2003 Some 10 000 pieces of the Lord of the Rings silver jewellery have been produced in the Free State for export to the US, Mining Weekly can today report. 

Harmony exploits legal loophole to sell gold bars in SA

By: Martin Czernowalow     25th April 2003 An apparent loophole in South African gold-ownership legislation has been grasped by Harmony Gold, which sees it as an opportunity to produce and market a new range of investment bars, the company announced recently. 

It goes back to the first millennium AD

25th April 2003 Systematic gold mining in Southern Africa has a long history, dating from towards the end of the first millennium AD. 

Bold new gold mould

By: zeena isaacs     25th April 2003 In all five of the latest key steps taken to add value to gold in the Free State and Gauteng, one name stands out as common to all. 

First export from golden rose project this year

By: Joanne Delaurentis     25th April 2003 South African’s third-largest gold miner will produce its first export-quality rose stems by Christmas this year, says project manager Israel Kidron. 

Aflease expansion aims for 100 000 oz by December

By: Martin Zhuwakinyu     25th April 2003 Gold-mining company Afrikander Lease (Aflease) hopes to ratchet up production from 35 000 oz/y at present to more than 100 000 oz/y by December, when a multipronged expansion currently under way is scheduled for completion. 

Mintek wins furnace order from Peru gold mine

25th April 2003 South Africa's national minerals technology organisation, Mintek, has received an order for two 'Minfurn' carbon-regeneration furnaces, valued at over $100 000, from Cia Minera Aurifera Santa Rosa (Comarsa) in Peru. 

Comex gold rises to three-week high before retreating

23rd April 2003 COMEX gold rose to a three-week high on Tuesday, piggybacking off a stronger euro and adding to its gain the previous day, before a rebounding US stock market took some steam out of the rally. 

SA Gold goes organic

By: Martin Zhuwakinyu     18th April 2003 A new mantra has emerged at South Africa’s gold-mining houses.?And it comprises just two words: organic growth. 

Placer's three-pronged SA strategy

By: Joanne Delaurentis     18th April 2003 Placer Dome South Africa’s newly appointed CEO George Paspalas is no newcomer to the gold-mining industry. 

Gold projects to stabilise SA's falling output

By: Martin Zhuwakinyu     18th April 2003 A new mantra has emerged at South Africa’s gold-mining houses. And it comprises just two words: organic growth. 

Drilling starts on Ghana gold prospect

18th April 2003 Canada’s PMI Ventures has announced that drilling has begun on its Ashanti II Deep Gold project in Ghana, West Africa. 

Burkina Faso gold find announced

18th April 2003 Gold miner Orezone Resource reported positive drill results from its Burkina Faso gold property in West Africa this week, that could prompt it to increase estimates of the site's grades and total ounces. 

Output from Fiji gold mine rises

17th April 2003 Production from Fiji's only gold mine rose 14% to 30 206 oz in the third quarter versus the previous quarter, owner Emperor Mines said yesterday. 

Randgold Resources set to sell Syama

17th April 2003 South African miner Randgold Resources said it has entered into an option agreement with Resolute Mining, the Australian mining company, to dispose of its 80% interest in Soci 

Placer begins work on Nevada mine

17th April 2003 Canadian miner Placer Dome announced yesterday that it is initiating the start-up of the Turquoise Ridge gold mine in Nevada, part of the Getchell property. 

Aflease pins hopes on growth, new leadership

By: Martin Czernowalow     15th April 2003 South African gold producer Afrikander Lease (Aflease) is optimistic that this year will produce stronger results than 2002, pinning its hopes on its expansion programme and a new board of directors. 

Avmin places Avgold shares worth R585m

15th April 2003 South Africa's Anglovaal Mining (Avmin) said on Friday it had placed 90-million shares of its gold producer Avgold with international institutions to help to repay some of its $140-million debt. 

Push on to change SA’s gold-ownership rules

By: Martin Czernowalow     11th April 2003 Whereas South Africa may be the biggest producer of gold in the world, its citizens are by law prohibited from owning minted gold bars, thanks to outdated regulations that industry experts would like to see changed. 

Golden cash-shell awaits South Deep returns

By: Keith Campbell     11th April 2003 Western Areas is now, and will remain, a cash shell, a conduit for cash from its 50% share in South Deep to its shareholders. 

Ten-tola bar to fall off Indian radar

11th April 2003 The World Gold Council (WGC) forecasts that the popular 10 tola gold bar, which is equivalent to 116,64 g, might disappear from the Indian investment market, due to the way the Indian authorities have restructured the import-duty system. 

Gold price could rally to above $350/oz this year - GFMS

11th April 2003 An authoritative gold survey released yesterday suggests that the recent correction in the gold price from highs of over $380/oz in February could be partially reversed in the second half of the year, as investment demand begins to pick up again. It also proposes that the price could well return... 

Positive results from new Wits basin drill

11th April 2003 Canadian gold producer Great Basin Gold has announce the results of an independent resource estimate for the southeast zone of the Burnstone Property, which is located in Witwatersrand goldfield, some 80 km southeast of Johannesburg, in South Africa. 

Placer revises Alaskan resources estimate

11th April 2003 North American miner Placer Dome, through its subsidiary, Placer Dome US, has announced significantly increased measured and indicated gold resources at the Donlin Creek joint venture, in Alaska, a joint venture between Placer Dome US (30%) and NovaGold Resources. 

Avmin launches international placement for Avgold

11th April 2003 South African miner, Anglovaal Mining (Avmin), has announced its intention to launch a private placement of up to 100-million ordinary shares in its gold subsidiary, Avgold, to global institutional investors. 

Harmony exploits legal loophole to sell gold bars in SA

By: Martin Czernowalow     11th April 2003 An apparent loophole in South African gold-ownership legislation has been grasped by Harmony Gold, which sees it as an opportunity to produce and market a new range of investment bars, the company announced today (Friday). 

DRD gold output declines 7% in Q3

10th April 2003 South African mining firm Durban Roodeport Deep (DUR) reported a 7% decline in its gold production for the March 2003 quarter, due partly to downscaling of its open-cast operations at one of its plants. 

Approval gained for first Greenland mine in 30 years

10th April 2003 Canadian junior Crew has announced that Greenland and Denmark have given the go ahead for the first new mine in Greenland in over 30 years and the country's first ever gold mine. 

Cut in global hedge-book supports gold price

10th April 2003 The outstanding gold-producer hedge book declined by 14% to 81-million ounces or 2 509 t, equivalent to 97% of mine production in 2002, a new hedge-book analysis, produced by Gold Fields Mineral Services (GFMS) and Investec, shows. 

Aussie miner to buy prospect from SA gold major

9th April 2003 Australia’s Helix Resources is set to move to 100% ownership of the Tunkillia Gold Project, in South Australia’s Gawler Craton, and secure a 75% interest in the nearby Tarcoola Project, after announcing it had reached agreement with AngloGold to acquire its interests in the region. 

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