R/€ = 14.47 Change: -0.04
R/$ = 11.67 Change: -0.04
Au 1346.84 $/oz Change: -13.63
Pt 1011.50 $/oz Change: 0.39

Latest News

Gem BEE acquires Namaqualand mine

     21st July 2003 Minerals company African Star announced on Friday that it has agreed to acquire, and intends to redevelop mining operations at, the Bonte Koe alluvial diamond mine in Namaqualand, in the Northern Cape Province. 

Xstrata to cut back coal output

     21st July 2003 Mining company Xstrata announced its Baal Bone Colliery is to reduce annual production from two-million to 1,2-million tons of coal, as the combination of a strengthening Australian dollar, historically-low coal prices and increasing workers compensation insurance premiums has placed the... 

Canadian junior mulls southern African prospects

     21st July 2003 Canadian-listed company Caledonia, which owns a diversified portfolio of properties in Africa and Canada, said it would be evaluating other southern African mining opportunities. 

South Deep ups wage offer after strike threat

     21st July 2003 South African gold mining firm South Deep boosted its wage offer on Friday after it and two other major bullion firms were threatened with a strike the previous day. 

Explorer mulls Stockholm listing

     18th July 2003 Minerals exploration company South Atlantic Ventures is considering a listing in Stockholm in September or October to finance the acquisition of a precious metals deposit in Finland, a Swedish paper reported yesterday. 

Women empowerment firm seeks mining niche

By: laurian clemence     18th July 2003 A Black-owned women’s empowerment company has been set up with the intention of establishing a niche for itself in the vamping and sweeping sector of the South African mining industry. 

World Bank backs Mauritanian mining-capacity project

By: Martin Czernowalow     18th July 2003 The World Bank has approved financing for a second mining sector capacity-building project in Mauritania, which aims to build on the success of the original project that has been in progress for the past two years. 

Project launched to reskill ex-miners

By: Martin Czernowalow     18th July 2003 Yesterday saw the launch of income-generating projects aimed at providing skills-training to former mineworkers in the Eastern Cape, an initiative driven by the Mining Qualifications Authority (MQA). 

Strike looms as mediation fails

By: Martin Czernowalow     18th July 2003 The South African mining industry could well face the first large-scale strike since 1987, should resolution to a wage-bargaining crisis not be found by July 27. 

Wage crisis could be averted – analysts

     18th July 2003 South African mineworkers and gold mining firms are likely to forge a last-minute pact to head off a threatened strike since a stoppage would batter both sides, analysts said on Friday. 

Rio Tinto disputes Aussie tax assessments

     17th July 2003 International miner Rio Tinto has objected to the Australian Taxation Office (ATO) assessments. These assessments against the miner are calculated at around A$500-million and included penalties and interest relating to transactions undertaken in 1997 to acquire franking credits. 

Way cleared for Harmony-ARMgold merger

     17th July 2003 South Africa's Competition Tribunal gave its nod yesterday to the takeover of miner ARMgold by Harmony Gold in a deal that will create the world's fifth largest gold producer. 

R2,5m skills project for ex-miners

By: Martin Czernowalow     17th July 2003 South Africa’s Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, together with the president of the Chamber of Mines, Barry Davison, and the Executive Mayor of the OR Tambo District Municipality, Zoleka Capa, will today launch a R2,5-million skills training project for ex-miners in... 

Man driving Alexkor sale quits

     17th July 2003 The man at the helm of the protracted Alexkor privatisation bid has resigned, the Department of Public Enterprises (DPE) announced yesterday. 

Gold ends higher, profit-taking knocks platinum

     17th July 2003 Comex gold prices recovered with the euro yesterday, after the US dollar was beset by profit-taking following Federal Reserve chief Alan Greenspan's comments, dealers said. 

Former Billiton man joins gem firm

     16th July 2003 Australian diamond company Namakwa announced yesterday that it has strengthened its board ahead of the development of its diamond project on South Africa’s west coast with the appointment of a senior South African mining executive to liaise with black empowerment partners and government... 

Anglo's Chile copper output on target

     16th July 2003 Mining giant Anglo American produced 202 905 t of copper at its Chilean mines in the first six months of this year, an insignificant variation from the same period last year, the company said on Monday. 

Namibian gem miner awards steel contract

     16th July 2003 South African company Cosira International announced yesterday that it secured a contract for the the supply, fabrication, delivery and erection of structural steel for Namdeb’s Elizabeth Bay mine diamond processing plant, situated south of Luderitz along the south coast of Namibia. 

Impala refinery upgrade study completed

By: Martin Czernowalow     16th July 2003 A draft scoping report has been completed for the proposed increase in capacity at Impala Platinum Holdings’ (Implats) refinery in Springs, on the East Rand. 

Harmony acquires 11,5% of Avgold

     16th July 2003 South African gold producer Harmony Gold Mining Company yesterday announced the acquisition of 11,5% or 77 540 830 shares in Avgold, from Anglo South Africa Capital, for a consideration of R7,91 per Avgold share. 

Giant expected to reverse copper cuts

     15th July 2003 BHP Billiton, the world's largest diversified miner, was likely to start reversing South American copper production cuts amid optimism for improved market conditions in 2004, analysts said yesterday. 

Anglo a potential Hope Downs investor

     15th July 2003 Australia's Hope Downs iron ore project said yesterday that Anglo American would be among potential investors it would target to take equity in a proposed A$1,5-billion development. 

Xstrata shuts three furnaces for maintenance

     15th July 2003 Swiss miner Xstrata announced yesterday that its subsidiary Xstrata Alloys has confirmed the closure of three furnaces, with combined annual capacity of some 230 000 t, for routine maintenance. 

Kagiso acquires 30% interest in SRK

     15th July 2003 South African empowerment group Kagiso Enterprises has acquired a 30% interest in SRK Consulting, the South African-founded global group of consulting engineers and scientists. 

Council for GeoScience expands drilled ‘core’ centre.

     15th July 2003 The Council for GeoScience's of Pretoria is reporting significant success in its plan to develop a comprehensive core-samples archive. 

Arctic diamonds polished in most unlikely place

     14th July 2003 Peter Finnemore, a diamond master cutter, had no idea where he was going when Sirius Diamonds approached him about opening a factory in Canada's Northwest Territories. 

US gas price a boon for coal-fired power

     14th July 2003 High natural gas prices are proving a boon for the many US utilities that still generate electricity the old-fashioned way - burning coal. 

Battle for new iron-ore era

By: Terence Creamer     14th July 2003 The high-profile spat between global mining giant Anglo American and the State-owned Industrial Development Corporation (IDC) at the Competition Tribunal is not the only source of conflict in the iron-ore industry. 

Bullish outlook for nickel industry – report

     14th July 2003 Margins in the nickel industry are set to increase dramatically as a large nickel market deficit looms, a new costs report by independent Australian research house AME Mineral Economics reveals. 

SA gem plant expansion on schedule

     14th July 2003 Canada’s Etruscan Resources and Mountain Lake Resources said last week that the expansion of the Tirisano Diamond mine, in South Africa, is on schedule and would be completed in September. 

Miners in last minute bid to avert strike

     14th July 2003 South African gold and coal mining companies have raised a wage increase offer to above inflation in a last-minute attempt to achieve a breakthrough in deadlocked talks with employees. 

Assore unconvinced by consolidation talk

By: Terence Creamer     11th July 2003 Assore, a key shareholder in manganese and iron-ore producer Assmang, wants to see the continuation of two iron-ore operators in the Northern Cape and has not been swayed by the consolidation arguments of fellow iron-ore miner Kumba Resources. 

Former miners to sue SA vanadium producer

     11th July 2003 Lawyers representing former miners said on Wednesday they would file a $61,1-million suit against South African-based vanadium producer Vametco seeking damages for illness and death as a result of vanadium poisoning. 

Zambia mine could produce 300 000 t copper in 2004

     11th July 2003 Zambia's Konkola Copper Mines' (KCM) copper cathode output could rise to 300 000 t/y in 2004, when it starts producing 50 000 t more metal from residues at its Nchanga operation, a senior manager said yesterday. 

BHPB unveils integrated marketing model

By: Martin Czernowalow     11th July 2003 The world’s largest diversified resources group, BHP Billiton, yesterday announced its objectives to increase margins through a new marketing strategy. 

BEE group confirms Aflease share purchase

     11th July 2003 South African empowerment firm Kabusha Mining and Finance confirmed yesterday that it had acquired 23-million shares in the Afrikander Lease (Aflease) from Benoryn Investments. 

AngloGold takes local talent to UK

     11th July 2003 Gold producer AngloGold has brought the talents of South African jewellery designers and musicians to London, through its participation in the UKKasie festival, which is being held at the Wembley Exhibition Centre from today until Sunday. 

Strong rand, A$ hurts profit of Ticor

     10th July 2003 Titanium miner Ticor said on yesterday the strength of the Australian dollar and South African rand will hurt its performance in calendar 2003. 

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