R/€ = 15.85 Change: 0.04
R/$ = 13.33 Change: -0.10
Au 1300.83 $/oz Change: -12.14
Pt 941.50 $/oz Change: -2.50

Latest News

Eternal gold bull unloads its hedges

     22nd August 2001 The closure of 230 000 oz of hedging positions by South African gold producer Harmony once again emphasised the company’s commitment to remaining as unhedged as possible so that it can take immediate advantage of any rise in the bullion price. 

North American metals distributors unite

     22nd August 2001 Resources giants BHP Billiton and Alcoa have announced a merger of their North American metals-distribution businesses – Alcoa’s North American metals distribution business, Reynolds Aluminum Supply Company (Rasco), and BHP Billiton's Vincent Metals Goods in the US and Atlas Ideal... 

Platinum empowerment: even the tea lady will benefit

     22nd August 2001 Black economic empowerment of the rich new platinum-mine Maandagshoek will mean that even the tea lady will benefit from bonuses. 

Coal-boosted BHP Billiton accelerates oil and gas

     21st August 2001 Old King Coal has proved a merry soul for the newly-merged South African-linked BHP Billiton – but it’ll be its entire energy capability including oil and gas which will be made to accelerate going forward. Even the new logo is oily. 

Second JV furnace switched on

     20th August 2001 The second new furnace at the Wonderkop ferrochrome plant in South Africa, a joint venture between Xstrata and Samancor, a subsidiary of BHP Billiton, has been switched on. 

US gold-miners eagerly await legislative changes

     20th August 2001 The US state of Nevada's gold-mining industry is eagerly awaiting the White House's expected rollback of most Clinton-era regulations governing mining on public lands. 

Big socio-economic plan emerging to secure jobs for miners

     17th August 2001 South African mining has, in the past two years, been contemplating several proposed changes to the way it conducts its business. 

New heavy-minerals smelter for KZN

     17th August 2001 Go-ahead for the construction of a R1-billion smelter associated with the R2-billion IHM mineral sands project being built in Kwazulu-Natal has been received following an agreement between Kumba Resources and Australian-based Ticor. 

Can Kearney help with Stillwater turnaround?

     16th August 2001 Former Impala Platinum (Implats) CEO Steve Kearney was, last month, installed as a director of the board of mining company Stillwater – a move which some believe will significantly strengthen America’s only platinum producer. 

Ghana urged to find new mining-society framework

     16th August 2001 The Ghanaian government is being urged to develop a policy framework that maximises the economic benefits of mining for the State and local communities. 

New Tanzanian gold-mine on cards

     16th August 2001 Australian-based Lion Selection group has reported that East African Gold Mines (EAGM) has been given the go-ahead for a significant new gold-mine in Tanzania. 

Kabila moves to stamp out mining graft

     15th August 2001 Democratic Republic of Congo (DRC) President Joseph Kabila has suspended top executives of all public-sector firms, including mining giant Gecamines, after an audit revealed gross mismanagement, the government has reported. 

Gold shrugs off global slowdown

     14th August 2001 Gold demand held up in the first half of the year despite the global economic slowdown, the World Gold Council has reported. 

Implats man to head Aussie PGM group

     14th August 2001 Former Impala Platinum business manager Stuart Murray has been appointed Aquarius Platinum CEO. 

Is De Beers reneging on transparency commitment?

     14th August 2001 At the delisting of De Beers earlier this year head Nicky Oppenheimer gave the South African public a guarantee that his company would not “hide behind a wall” and that full disclosure and transparency would continue. 

E-procurement ‘here to stay’

     13th August 2001 Electronic procurement is here to stay and, says AngloGold’s strategic sourcing manager Malcolm Farrell, without a doubt the most effective way to link a business to its suppliers. 

Malawi seeks gem prospects

     13th August 2001 Malawi's continuous exploration for mineral resources has indicated prospects for diamond-mining in the country. 

Another gold catalyst conference

     9th August 2001 Another conference on the use of gold as a catalyst is to take place in Ireland next month, AngloGold executive officer South African region Dave Hodgson reports. 

Competitiveness plan for Poland’s coal sector

     9th August 2001 The World Bank has approved a 112,8-million euro ($100-million) second hard-coal sector adjustment loan (SECAL 2) to support the implementation of the Polish government's revised hard-coal sector reform programme and help the country to transform the coal industry into a competitive and... 

Will gold's bad run ever end?

     9th August 2001 Only time will tell if the dollar-gold price will find stability, and the precious metal, once again, becomes a favourable source of investment as a risk and portfolio diversifier. 

Burkina Faso zinc-mine becoming a reality

     8th August 2001 Although the announcement by the Burkina Faso Minister of Mines Kader Cisse that South African mining group Metorex had been granted mining rights in the Perkoa region of that country was a bit of a surprise, the company says it is good news and a psychological boost for the group. 

Mining production on the increase

     8th August 2001 The total mining production for the second quarter of 2001, after seasonal adjustment, reflected an increase of 0,6% compared with the first quarter of 2001, while the total mining production for the second quarter of 2001 reflected an increase of 1,6% compared with the second quarter of 2000. 

South Deep’s output climbs steadily

     6th August 2001 South African gold producer Western Areas has reported flat headline earnings per share (EPS) in dollar terms as gold output rose 12% at its South Deep joint venture on increased tonnage throughput. 

Vanadium producer moves to deal with health threat

     6th August 2001 The Department of Minerals and Energy (DME) has confirmed its acceptance of the actions Vantech has already taken after a DME report published last month. 

Women show mining mettle

     6th August 2001 Delivering the keynote address at the gala launch of the South African Women in Mining Association (Sawima) Gauteng region on Friday, Minerals and Energy Minister Phumzile Mlambo-Ngcuka focused on the progress achieved since the national launch of Sawima in December 1999 to date, as well as on... 

Zim’s gold support raises output

     6th August 2001 Zimbabwe's Reserve Bank has reported that a support programme for gold producers introduced earlier this year had helped boost production in a sector where high costs had threatened several mines with collapse. 

China’s industrial strength helps mining giant

     3rd August 2001 The 24% increase in resources giant Rio Tinto’s first-half earnings to $841-million has been attributed to a significant increase in volumes following last year's acquisitions, good progress in the integration of recent acquisitions and the fact that the company has six significant projects... 

Patience with Oryx wears thin

     3rd August 2001 South Africa's Gold Fields has reported that headline earnings per share for the June quarter rose 8% despite reduced output after an accident at Beatrix mine and it forecast a good third quarter. 

SA gold group ups W African exploration

     3rd August 2001 Despite the increased cost of an intensified exploration programme, Randgold Resources boosted its net profit for the June quarter by 19% to $4,7-million on the back of another sound performance by the Morila gold-mine in Mali. 

SA’s fourth platinum producer falls down on poor production

     3rd August 2001 Make hay while the sun shines – or maximise platinum production while the price is high – is an idiom lost on South Africa’s fourth-biggest platinum company. 

Swanepoel still courting Free State gold

     2nd August 2001 The philandering is over for now, but marriage will eventuate, says Harmony Gold CEO Bernand Swanepoel of the briefly interrupted talks on acquiring AngloGold’s assets in the Free State. 

Godsell tells why he’s hugging Free State assets

     1st August 2001 The world’s largest gold company has been chastised for hugging its Free State assets. 

Now 30-year tenure, says Minister

     1st August 2001 Mineral-rights owners have been given an additional five years of tenure to ‘use it or lose it’, Minerals and Energy Minister Phumzile Mlambo-Ngcuka has told a Gibs forum on the future of mining held in Johannesburg. 

Gamsberg derailed by recession?

     30th July 2001 The proposed R6-billion Gamsberg zinc project – which was brought back on to the investment map a few years ago when the property was purchased from Gold Fields of South Africa by Anglo American – appears to be in trouble. 

Turn minerals into wealth for all – SADC minister

     30th July 2001 Community and stakeholder involvement remain key elements for the mining and related industries in the Southern African Development Community (SADC), with the greatest challenge being to turn the mineral wealth of the region into benefits for all participants, SADC mining sector chairperson and... 

Southern Africa's big six 'greenfield' mining projects

     27th July 2001 Estimates by the US Geological Survey that deposits in Southern Africa contain a significant proportion of the world's platinum-group metals, chromium, manganese and gold reserves. 

ETC turns around, but is still up for sale

     26th July 2001 Problem-child Eastern Transvaal Consolidated (ETC) has finally begun reforming, helping Avgold turn a R32-million loss into a R39-million profit – but ETC’s laudatory performance may still not be strong enough to keep it in the fold. 

Resources major shows multicommodity growth

     26th July 2001 Mining giant Rio Tinto has released figures showing that production of all principal mined commodities was higher in the second quarter and first half of 2001, compared with the same periods in 2000. 

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