R/€ = 16.62 Change: 0.03
R/$ = 14.36 Change: 0.01
Au 1226.20 $/oz Change: -1.49
Pt 842.50 $/oz Change: -1.04

Latest News

'Tread cautiously when considering mine-tax changes'

By: Liezel Hill     15th November 2005 The South African government should 'step carefully' when contemplating reforms to the current mining-tax regime, particularly with respect to the gold-mining industry, top gold analyst David Davis, of Andisa Securities, cautioned yesterday. 

Explorer seeks exposure to gem-savvy SA investors

By: Terence Creamer     15th November 2005 Diamond explorer Tawana Resources made its debut on the JSE yesterday, becoming the second foreign company to list on the bourse. 

$100m Mali underground gold-mine approved

By: Martin Creamer     15th November 2005 Go-ahead has been given for the development of an underground gold-mine at Loulo in Mali, West Africa, Mining Weekly Online can today exclusively report. 

R1bn-plus coal-terminal expansion gets moving at last

By: Terence Creamer     14th November 2005 The opportunity cost to South Africa arising from the more than four-year delay in moving ahead with the Richards Bay Coal Terminal (RBCT) expansion, in Kwazulu-Natal, undoubtedly ran into billions of rands in lost export earnings. 

$100m Mali underground gold-mine approved

By: Martin Creamer     14th November 2005 Go-ahead has been given for the development of an underground gold-mine at Loulo in Mali, West Africa, Mining Weekly Online can today exclusively report. 

Oz miner seeks London listing

12th November 2005 Australian-based Croesus Mining has announced that it seeks to list on the London Stock Exchange's Alternative Investment Market. 

GBS' gold takeover declared unconditional

12th November 2005 International mining company GBS Gold International at the weekend announced a takeover offer for ASX-listed gold company Northern Gold, made through its wholly-owned subsidiary GBS Gold Australia. 

DRDGold to buy A$3m of Aussie gold junior

12th November 2005 Allied Gold announced at the weekend that it has placed some 7,6-million shares - at an issue price of $0,40 a share - to DRDGold, using the company's existing 15% placement authority. 

BHP appoints diamond division head

12th November 2005 The world's largest diversified miner has announced a new leader for its diamond and specialty products division. 

SA gem firm teams up with Tiffany jewelers

12th November 2005 South African diamond cutting and polishing firm Rand Precision Diamonds (RPD) has announced its landmark partnership agreement with Tiffany & Company, the premier American jewellery retailer - in a deal which will further enhance black economic-empowerment and beneficiation locally. 

Barrick files bid, Placer urges caution

By: Nicola Mawson     12th November 2005 Gold heavyweight Barrick Gold Corporation at the weekend officially filed its $9,2-billion bid for Placer Dome, which Placer has urged shareholders not to respond to. 

Reserves could become IFRS-compliant assets - Macfarlane

By: Nicola Mawson     12th November 2005 Senior mining lecturer at the University of the Witwatersrand and member of the International Valuation Standards Committee (IVSC) Extractive Industries Task Group Alastair Macfarlane has indicated that updated accounting standards to be released next year will allow miners to carry exploration... 

Gold hopeful reports top management changes

11th November 2005 Canadian miner Greystar Resources yesterday reported that the success of the 2005 drill program on its wholly-owned Angostura gold-silver deposit in northeastern Colombia has prompted an acceleration of activities on several fronts. 

Canadian miner's drill programme 85% complete, seeks $2m

11th November 2005 Toronto Stock Exchange Ventures board-listed PMI Ventures, which is currently in the market to raise some $2-million for ongoing exploration work, has announced that some 85% of a survey at its Ghanan project that was started mid-year has been completed. 

Mine-software firm reports net earnings up 29%

11th November 2005 Canada's Gemcom Software International, a global provider of mine production management solutions (MPMS), yesterday announced a net profit of C$324 959, or basic and diluted net earnings of C$0,02 per share, for the quarter to September 30, up from C$260 255 or C$0 01 per share in the same... 

Canadian miner considers SA gem mine options

11th November 2005 Toronto Stock Exchange- and Aim-listed diamond junior SouthernEra Diamonds has indicated that it will either resume mining operations at Klipspringer, or dispose of its interest in the mine. 

First phase completed at CAR gold project

11th November 2005 AIM-listed Pan African Resources yesterday announced the results of the first phase of regional geochemical sampling in the Bogoin project, in the Central African Republic (Car). 

Loulo ships first gold, mine officially opens

11th November 2005 London- and Nasdaq-listed gold miner Randgold Resources' new mine at Loulo yesterday shipped its first commercial consignment of bullion, a week ahead of schedule and four days before its official opening by Malian president Amadou Toumani Tour 

SRK named on Leeukop project

11th November 2005 AIM-listed platinum exploration and development company African Platinum (Afplats) announced yesterday that it had appointed SRK Consulting as independent engineer on the Leeuwkop project. 

Konkola calls for bids in support of drive to double output

By: Nicola Mawson     11th November 2005 Africa's biggest copper producer, Konkola Copper Mines, has issued four tenders as part of what it calls an “ambitious and fast-track expansion programme”. 

JCI results delayed to December

11th November 2005 JSE-suspended JCI's year-end results have been delayed again, CEO, Peter Gray said yesterday. The results are for the year ended March 31. 

Emergency-response to involve community - ICMM

10th November 2005 The International Council on Mining and Metals (ICMM) has released a guide for mining operations on how to develop an emergency response plan. 

'Unified mineral reporting code now likely'

By: Liezel Hill     10th November 2005 Whereas, a few weeks ago, it appeared unlikely that any sort of international mineral reserves and resources reporting code would transpire in the near to medium term, international events now seem to be progressing rapidly towards that objective, Aurstralia's Joint Ore Reserves Committee (Jorc)... 

Aflease one step closer to uranium vehicle

By: Nicola Mawson     10th November 2005 The 'marriage' between South African gold and uranium miner Aflease and Canadian uranium miner Southern Cross moved one step closer to completion yesterday. 

Assmang to be delisted as R368m deal emerges

10th November 2005 JSE-listed miner Assore yesterday announced its intention to make a cash offer to all Assmang shareholders - other than Assore and African Rainbow Minerals (ARM) - at a purchase price of the R2 600 a share. 

Actis invests $11m in DRC gold-mine

9th November 2005 Actis, a leading private equity investor in emerging markets, yesterday announced an investment of $11,1-million in Banro Corporation, a junior gold exploration company focused on the development of four advanced stage gold projects along the 210 km-long Twangiza-Namoya gold belt in the South... 

Canadian junior to begin exploration on past-producing mine

9th November 2005 Canadian junior Ursa Major Minerals plans to begin exploration on the company's 100%-owned past-producing Agnew Lake Uranium Mine located in Hyman Township, Sudbury Mining Division, 40 km west of Sudbury, Ontario, it said yesterday. 

Cyprus gold miner moves into Eastern Europe

9th November 2005 AIM-listed Eastern Mediterranean Resources announces that it is expanding its presence in Eastern Europe where it has already started fieldwork in Slovakia by applying the latest low-detection gold prospecting techniques to initial target areas. 

First coal from new Canadian plant mid-2006

9th November 2005 Vancouver-based Western Canadian Coal, in announcing its operating results for the three months ending September 30, has indicated that first throughput from its new coal preparation plant at Wolverine will be mid-2006 at a rate of 2,4-million tons a year. 

Richards Bay Minerals invests R1m in financial software

9th November 2005 Titanium producer Richards Bay Minerals has embarked on a R1-million implementation of the Hyperion Strategic Finance application for its value planning and strategic modelling requirements. 

Dump area nets gems for Australian miner

9th November 2005 Australian Stock Exchange-listed Blina Diamonds has completed its limited mining operation in the Ellendale 9 North area, which is in the footprint of a proposed dump area. 

De Beers employees set to become key shareholder bloc

By: Liezel Hill     9th November 2005 Diamond giant De Beers hoped yesterday to put paid to its status as something of a 'transformation laggard', by announcing plans to sell 26% of its South African unit, De Beers Consolidated Mines (DBCM), to a newly-formed black-owned consortium, for about R3,8-billion. 

National coal-resources inventory proposed

By: Nicola Mawson     9th November 2005 A South African National Coal Reserves and Resources Inventory is on the cards, says Department of Minerals and Energy chief mineral economist in the area of coal and hydrocarbons Xavier Prevost. 

New mineral-valuation draft to be scrutinised

By: Nicola Mawson     9th November 2005 Draft number 13 of South Africa's Mineral Valuation (Samval) code has been completed and will now be screened by the Samval and the Reporting of Mineral Resources & Mineral Reserves (Samrec) steering committee. 

New drill results up resource estimates at Oz gold project

8th November 2005 Australian explorer A1 Minerals yesterday announced further high-grade results from recent drilling at its Beta gold project. 

End in sight for North West pumping dispute

By: Nicola Mawson     8th November 2005 The Department of Water Affairs and Forestry has issued its fifth pumping directive to miners in the Klerksdorp-Orkney-Stilfontein-Hartebeesfontein (Kosh) region and it now seems as if a long-term solution may finally be in sight as this directive compels the parties involved to draw up an... 

London miner one step closer to Konkola shares

8th November 2005 Copper miner Zambia Copper Investments announced yesterday that - as part of London-listed Vendanta Resources' move to acquire the 28,4% of Konkola Copper Mines that ZCI owns - ZCI has completed its an information gathering visit to Konkola. 

First female GM for Richards Bay Minerals

8th November 2005 Titanium metal producer Richards Bay Minerals (RBM) has appointed Thabi Shange as GM of strategic affairs, where she will overlook issues such as new-order rights conversions. 

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