R/€ = 16.39 Change: 0.01
R/$ = 13.85 Change: 0.13
Au 1289.95 $/oz Change: -1.01
Pt 936.00 $/oz Change: -3.00

Latest News

New gold-council head to add vigour to marketing

     19th August 2002 Gold producers and some market analysts will be looking to the new head of the World Gold Council to plug the metal more vigorously as a safe bet in uncertain times. 

Good performance expected from unbundled mining, steel firms

     19th August 2002 South Africa's biggest steel and iron ore producers Iscor and Kumba Resources are seen reporting a leap in annual earnings next week, reaping the rewards of their split and despite a firmer rand. 

Aussie laterite nickel miner offers debt deal

     19th August 2002 Debt-ridden Australian miner Anaconda Nickel has offered key creditors of its Murrin Murrin Holdings (MMH) unit a discounted debt payment settlement. 

New PGM drill campaign to start soon

     19th August 2002 Canadian miner Pacific North West (PFN) Capital announced that a diamond drilling programme will begin within the next couple of days on its Agnew Lake platinum group metals (PGM) property near Sudbury, Ontario. 

Platinum stocks seen under pressure this week

     19th August 2002 South African platinum stocks could come under pressure this week, with analysts eyeing a drop in earnings when Impala reports on Thursday, after peer Angloplat posted a hefty fall last week. 

Black company set to buy 100% of ERPM

By: Martin Creamer     16th August 2002 The black-economically-empowered company that owns 30% of the shares of gold company East Rand Proprietary Mine (ERPM) is negotiating to acquire 100% of the company. 

Miners do well in SA sustainability rating

     16th August 2002 Mining groups have fared well in the first sustainability rating of the top 40 companies on the Johannesburg bourse, a measure which examines their commitment to the environment and social development. 

Rockslide kills two at Carletonville gold mine

     16th August 2002 Two miners died and a third was seriously injured in an underground rockfall at South Africa's Mponeng gold mine, mineowner AngloGold has revealed. 

Minister says everything negotiable in mine charter

     16th August 2002 South Africa's Minerals Minister Phumzile Mlambo-Ncguka yesterday said all proposals in a controversial draft new mining charter were up for negotiation when stakeholders meet over the details next week. 

Charter 'lekgotla' set for Tuesday

     15th August 2002 Government and the mining industry have agreed to meet on Tuesday next week in a bid to reach consensus on the proposed black empowerment mining charter. 

Chinese aluminium firms plan output rises in 2002

By: Zonika Botha     15th August 2002 China's largest aluminium maker, Aluminium Corp of China (Chalco), and other major producers are bent on raising output this year despite weak prices and oversupply on global markets, company officials have said. 

R22m platinum headgear completed

     15th August 2002 A R22-million contract for the construction of a shaft headgear and associated infrastructure for Lonmin’s Western Platinum’s Karee No 4 shaft has been completed by civils company WBHO. 

Tin output rises and cuts by Chinese producers

     15th August 2002 China's top tin producer, Yunnan Tin, yesterday said it expects to produce 28 000 tons of the refined metal this year, up from 22 000 tons last year as sluggish prices bottom out. 

SA ministers meet gold, diamond miners

     15th August 2002 Top South African ministers met senior mining executives yesterday to discuss government plans to give black business a bigger role in mining, government sources said. 

No single target for mining empowerment

     15th August 2002 The South African government said on Wednesday it would not nationalise any part of the mining industry, after three hours of talks with global mining giant Anglo American and its diamond and gold subsidiaries. 

Platinum leader evaluates project portfolio

By: Terence Creamer     14th August 2002 The world’s leading platinum producer, Anglo Platinum (AngloPlat), was undertaking a 'complete strategic evaluation' of its expansion project portfolio, which was designed to lift its yearly production to 3,5-million ounces by 2006. 

Mining giant outlines equity plans

By: Martin Creamer     14th August 2002 In the next five years, at least half of the management of the South African operations of global mining company BHP Billiton will be made up of previously disadvantaged individuals, BHP Billiton’s president and CEO minerals Mike Salamon revealed yesterday. 

Canadian miner bets on gold ahead of cash

     14th August 2002 Canada's Goldcorp, a profitable mid-size producer possessing one of the mining world's best cash cows, is unabashedly bullish on bullion and literally putting its money where its mouth is, the company's top executive has revealed. 

Gold miner, union in Aids pact

     14th August 2002 Mining company Gold Fields’ CEO, Ian Cockerill, together with national and local leaders of the National Union of Mineworkers, the United Association of South Africa and the MWU Solidarity, yesterday underwent HIV tests, marking the launch of an Informed, Consented, Voluntary Counselling... 

Ghana gold firm joins SA platinum rush

     14th August 2002 Africa's fourth-largest gold producer, Ashanti Goldfields, said it will develop a platinum mine in South Africa in a bid to diversify its output. 

Japanese auto maker in peat-mining venture

     14th August 2002 Japanese auto maker Toyota Motor Corporation (TMC) of Japan has recently established a company in China’s Sichuan Province that will specialse in the mining, processing and export of peat for use in combating high urban temperatures and enhancing soil quality in arid regions. 

Diamond giant mulls expansion

     13th August 2002 Diamond giant De Beers hinted yesterday that it planned to pursue several expansion opportunities in the medium to long term. 

Gem leader slams SA’s Aids policies

     13th August 2002 Diamond company De Beers’ MD Gary Ralfe heavily criticised government’s current handling of the Aids pandemic in South Africa while announcing a group-wide plan for treatment which involves the provision of antiretroviral treatment (ART) to some 11 000 employees and their spouses,... 

Second half will be tougher for gem sales

     13th August 2002 Global gem giant De Beers yesterday reported an 8,5% rise in first-half rough diamond sales to $2,84-billion, but said it did not expect sales or cashflow to be as sparkling in the final six months of 2002. 

'Platinum Nation' in deal with major

     13th August 2002 Mining giant Anglo Platinum and the Royal Bafokeng Nation (RBN) yesterday announced that in principle agreement had been reached to form a 50-50 joint venture to mine the Boschkoppie and Styldrift farms owned by Anglo Platinum and the Royal Bafokeng Nation respectively, near Rustenburg in the... 

SA platinum earnings seen hit by strong rand

     13th August 2002 Analysts will be eyeing the impact of a strong rand and looking for fresh detail on strategy as South African platinum majors Anglo Platinum (Angloplat) and Impala Platinum report half and full-year results, starting this week. 

Big exploration plans from marine miners

     12th August 2002 Severus Shivolo, mine manager of Trans Hex's MV Namakwa, describes marine diamond-mining as "one day honey, one day onions". Indeed, it's a game of see-sawing fortunes, and only dogged exploration, hitech equipment and unique skills can ensure the unlocking of this treasure-chest. 

Now PGM miner lambasts commodity-price rises

     9th August 2002 Another senior mine executive has come out guns blazing against excessive commodity price increases. Northam Platinum MD Ian Watson attacked steel and chemical producers who have both increased prices dramatically. 

Gold firm, labour department in training initiative

By: Zonika Botha     9th August 2002 South Africa’s largest gold producer, AngloGold, and the South African Department of Labour have launched a special training programme, which aims to help alleviate the high levels of unemployment in the Carletonville West Wits area. 

China zinc firms to trim output

     9th August 2002 China's key zinc producers are expected to trim output significantly this year as languishing metal prices and a dearth of concentrates haunt the industry, company officials said yesterday. 

Shares in resources giant still undervalued – analysts

     9th August 2002 Shares in BHP Billiton, the world's largest diversified miner, remained undervalued despite a solid annual profit result, resource analysts said yesterday. 

Positive results from Canadian PGM drill

     9th August 2002 Canadian platinum group metals producer, Pacific North West Capital Corporation, (PFN) has reported additional assays from its recently completed phase 5 drilling programme at River Valley, situated 50 km northeast of the City of Greater Sudbury in Ontario. 

Early start mooted for Richards Bay titanium furnace

By: Terence Creamer     9th August 2002 Australian titanium dioxide feedstock producer, Ticor, is confident that its first furnace at its Richards Bay project in Kwazulu-Natal, South Africa, will be up and running by the end of the year, three months ahead of schedule. 

SA gold giant cautious on gold price

     8th August 2002 South African miner AngloGold yesterday said suggestions that gold prices would trade higher were "over-optimistic". 

First shipment soon from Rwanda tin operation

     8th August 2002 Metal Processing Association (MPA) will make its first shipment of tin in August from operations in Rwanda, where it aims to produce 200 tons a month within three months, said the company which will market the metal, Hochschild Partners LLC of New York. 

Substation for Jwaneng mine

     8th August 2002 Switchgear and electrical distribution specialist ABB Power Technologies Medium Voltage has won a contract worth more than R700 000 for the design, supply, delivery and pre-commissioning of a five-panel 66kV/400V containerised and skid-mounted mobile substation for the Jwaneng Diamond Mine in... 

Gilbertson calls for calm on mine charter

By: Terence Creamer     8th August 2002 The South African CE of the world’s largest diversified miner brought a semblance of objectivity to the row surrounding the proposed mining charter yesterday suggesting that the initiative could even provide opportunities. 

State, platinum giant reach accord on mining permits

     8th August 2002 The world's leading platinum producer Anglo Platinum and the Department of Minerals and Energy (DME) have reached agreement on six of Anglo Platinum's applications for mining authorisations. 

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