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Gold News

Sales from Target rise to 841 kg for quarter

25th October 2001 South African gold producer Avgold reported a loss for its first quarter to September after suffering a R7,3-million foreign exchange loss on borrowings for its Target gold-mine. 

Good response to golden top up

23rd October 2001 AngloGold, has received a good response from Australian retail brokers to the top-up facility announced with the release of AngloGold’s takeover documents on October 17. 

Terror Tuesday has not changed gold’s fundamentals – GFMS

22nd October 2001 Last month’s attacks on US cities are no reason to alter Gold Fields Mineral Services’ forecast gold price range this year of $265 to $285 an ounce, Paul Walker, a director at the consultancy, said. 

Free State golden battle erupts

22nd October 2001 South Africa’s number-three gold producer, Harmony, said it had no plans to dispose of its mining assets in the mineral-rich Free State Province, in spite of an offer by a black-led consortium. 

Fresh Ghana gold acquisition by SA major

22nd October 2001 South African gold producer Gold Fields and Toronto-based Repadre Capital Corporation said they had reached a memorandum of understanding with Australia’s Ranger Minerals to buy Ranger’s 90% interest in Abosso Goldfields, an unlisted Ghanaian company holding 100% of the Damang... 

New COO for world no.1 gold producer

22nd October 2001 Dave Hodgson has been appointed as the chief operating officer of AngloGold. 

Gold-marketing campaign gets glister

19th October 2001 At the annual Mining Investment Forum Conference held in Denver, Colorado, three of the world’s largest gold producers have emphasised the importance of marketing and, in particular, the role it can play in growing the demand for gold jewellery, which accounts for 75% to 80% of total gold... 

Gold-beneath-Jo’burg project dusted off

19th October 2001 South African gold-miner Durban Roodepoort Deep (DRD) reported higher earnings on Thursday on a firmer gold price and lower corporate and financing costs, and predicted a dividend payment in two years. 

New sweetener in gold acquisition

17th October 2001 AngloGold said it will offer retail investors in takeover target Normandy Mining additional shares in AngloGold at a discount to take up the offer. 

Cash offer for Free State mines

17th October 2001 A black-led South African mining consortium said its all-cash offer for AngloGold’ Free State assets included an option for AngloGold to keep an interest in the mines. 

Gold takeover documents released

17th October 2001 Leading gold producer AngloGold today lodged its formal offer documents and shareholder circular in respect of its offer for Normandy Mining with the relevant regulatory authorities. 

Free State bidding war heats up

16th October 2001 A black-led South African mining consortium announced a bid for four AngloGold mines, setting the stage for a battle over key assets in the country’s mineral-rich Free State province. 

IT improves efficiencies at gold-recovery plant

12th October 2001 Industrial information technology (IT) and supply-chain solutions company Streamworks has concluded the implementation of an automation project at Ergo, a gold recovery plant of AngloGold. 

Eight-pronged W Rand gold renaissance

By: Martin Zhuwakinyu     12th October 2001 Marginal gold miner Durban Roodepoort Deep (DRD) has achieved its objective of reducing cash costs to around $220/oz, securing itself a place among the world’s least-cost producers. 

SA technology in Chinese gold plant

By: Laura Franz     12th October 2001 South African metals and minerals research council Mintek and its partner, BacTech Enviroment, of Canada, have successfully commissioned the Laizhou Gold Metallurgy Plant bioleaching facility in Shandong Province, in the People’s Republic of China. 

Struggle to preserve mining heritage

By: Keith Campbell     12th October 2001 The article summarises the history of attempts to create a gold mining museum in Johannesburg, dating back to 1936. 

Golden buyback completed

10th October 2001 Gold company, Randgold Resources announced yesterday that it had completed the buyback of some 34% of its issued share capital, paying out $81-million to shareholders in the process. 

Free State gold rationalisation on cards

10th October 2001 South African gold producer AngloGold said it was considering an offer for its assets in the Free State province. 

Gold buys get bullish

9th October 2001 Fans of gold stocks and gold-orientated mutual funds, clearly a winning bet for investors in 2001, say prospects remain bullish despite a brief pause in the upward trajectory. 

Golden deals on the horizon

9th October 2001 Rising gold prices have revived interest in gold-mining company mergers and acquisitions, but with several major deals already announced, company executives are not sure how many more transactions are on the horizon. 

More gold personnel changes

9th October 2001 Neal Froneman, currently Harmony’s operations director, is to join JCI Gold as technical director with effect from October 15, 2001. 

Gold major’s hedging, acquisition strategy

8th October 2001 Canadian gold producer Placer Dome CEO Jay Taylor said the company’s hedging programme is contributing an extra $60 an ounce above recent gold prices and the company does not plan to change its strategy. 

South Africa builds the world's biggest tripper car

By: Martin Zhuwakinyu     5th October 2001 A Johannesburg engineering and project-management company, which earlier this year shrugged off international competition to clinch a contract to design, build and deliver equipment worth $4-million to a gold-reclamation project in Uzbekistan, has started to dispatch the equipment, which includes... 

Making desktop procurement a reality

By: Laura Franz     5th October 2001 Gold-mining giant AngloGold has taken the first steps towards making desktop procurement a reality extending all the way from its office towers to the depths of its mine shafts, reports strategic procurement manager Malcolm Farrell. 

Mali gold safari continues

5th October 2001 The contracting of two South African companies in a feasibility to establish yet another gold-mine in Mali has been made possible in part by a government support scheme as well as a special funding vehicle established by Absa. 

Study on for another big Zambia project

5th October 2001 A full definitive study has been commissioned by Canadian company First Quantum Mineral to determine the feasibility of establishing a large low-cost openpit mine at Kansanshi, Zambia. 

'Normandy invasion' by year end

5th October 2001 The world’s leading gold producer, AngloGold, is confident its $1,6-billion offer for Australia’s Normandy Mining will be completed by the end of the year, even though it must first win the approval of regulators in four countries, says executive marketing director Kelvin Williams. 

Candian zinc project completed ahead of schedule

4th October 2001 The Canadian zinc-copper unit of global mining conglomerate Anglo American, Hudson Bay Mining and Smelting, said the key expansion and modernisation of its zinc plant was completed three months ahead of schedule. 

New gold-marketing drive launched

4th October 2001 The gold-mining industry unveiled plans this week for a major gold marketing initiative aimed at increasing demand for gold jewellery. 

Gold merger offer available to US shareholders

4th October 2001 In order to offer US shareholders of Normandy the opportunity to receive and freely trade AngloGold shares in the US, it has been decided that AngloGold will file a Form F4 registration statement with the United States Securities and Exchange Commission (SEC). 

Pressure on Ghana to drop Ashanti 'golden share'

3rd October 2001 Ghana’s government would not oppose a merger involving Ashanti Goldfields if the move was seen to be in the company’s best interests, the West African country’s finance minister said. 

Gold supplies to tighten – Thompson

28th September 2001 South Africa’s Gold Fields said a decline in the global supply of gold was looming as mine activity wanes and some central banks exhaust their sales. 

SA gold leader gets central bank approval for acquisition

27th September 2001 The world’s leading gold producer, AngloGold, has received permission from the South African Reserve Bank to proceed with its proposed acquisition of Normandy Mining. 

Placer still on acquisition trail

26th September 2001 Placer Dome will stay focused on acquisitions despite losing out in a bidding war for WMC Resources’ prized Australian gold assets, its president said on Friday. 

SA’s gold No 2 uses purchase to lower risk profile

26th September 2001 South Africa’s second-largest gold producer, Gold Fields, will produce more than a quarter of its output from opencast reserves once its proposed $232-million acquisition of the St Ives and Agnew mines from Australia’s WMC Resources is concluded in November. 

SA backing for Australian gold project

25th September 2001 Bendigo Mining said South Africa’s Harmony Gold would take a 31,1% stake in Bendigo, providing the A$50-million (US$25-million) in funds it needs to start gold production at its mine. 

Big N American gold bias

By: Martin Creamer     21st September 2001 North America is receiving the lion’s share of the market capitalisation of major gold companies, with Africa-linked majors underfunded by comparison. 

Now SA’s gold No.2 moves on Aussie assets

21st September 2001 WMC Resources said it has agreed to sell its main gold-mines to South Africa’s Gold Fields for $232-million (A$470-million), plus a royalty. 

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