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Latest News

Clean coal technology alliance formed

     28th April 2003 American Electric Power and eight other companies, all among the nation’s largest electric utilities and coal companies, have formed an alliance to support President George W Bush’s FutureGen initiative, which seeks the creation of a near zero-emission power plant and hydrogen... 

Shareholders approve Gencor unbundling

     28th April 2003 South African holding company Gencor said on Friday it had obtained majority approval from shareholders to proceed with the long-awaited distribution of its 46% stake in Impala Platinum Holdings. 

Anglo concerned about effect of SARS

     28th April 2003 Global mining giant Anglo American Plc warned on Friday that the outlook for its main businesses was mixed, as it expressed concern over the spread of the deadly SARS virus in China. 

Mintek wins furnace order from Peru gold mine

     25th April 2003 South Africa's national minerals technology organisation, Mintek, has received an order for two 'Minfurn' carbon-regeneration furnaces, valued at over $100 000, from Cia Minera Aurifera Santa Rosa (Comarsa) in Peru. 

Zambia shortlists four bidders for Konkola

     25th April 2003 Zambian authorities have named four companies on the short-list for the purchase of a stake in Konkola Copper Mines, as Zambia seeks investment to ensure its largest mining company is modernised. 

Strong rand hits resources firms

     25th April 2003 Miners BHP Billiton, Rio Tinto and Anglo American were among the UK's top blue chip fallers yesterday as currency moves stoked fears about earnings and the SARS virus threatened metals demand. 

Kumba Q3 earnings slump 51%

     25th April 2003 South Africa's largest iron-ore producer, Kumba Resources, yesterday reported a slump in third-quarter profits and said it expected earnings in the next quarter to come under pressure from a strong rand. 

RMB in debt-equity deal for gem project

     25th April 2003 Australia’s Namakwa Diamond Company has announced that it has accepted a proposal from specialist merchant bank RMB Resources to arrange finance for the feasibility and development of stage one of its West Coast Diamond Project in South Africa. 

Leviev likely to take bulk of Namco assets

     24th April 2003 LL Mining Corporation has emerged as the preferred negotiator for the bulk of the liquidated assets of Namibian Minerals Corporation (Namco). 

BHPB’s oil slide offset by mineral rises

     24th April 2003 The world's largest diversified miner, BHP Billiton, said yesterday third quarter oil and condensate production fell 22% over the same period a year ago, as output from mature fields declined. 

Bafokeng-Impala equity-for-royalty talks continue

By: Martin Czernowalow     24th April 2003 Though declining to reveal details, the world’s second-largest platinum producer, Impala Platinum (Implats), confirmed that ongoing discussions were taking place between it and the Royal Bafokeng Nation (RBN). 

Resources group concludes coking coal price talks

     24th April 2003 The world's largest diversified miner BHP Billiton said yesterday it had settled coking coal prices for the year starting April 1, 2003, with prices down about four percent across the board. 

Good results from W Coast gem sample

     24th April 2003 Australian miner Namakwa Diamond Company has announced further sampling results from its current sampling programme at the Namakwa Diamond Project, on South Africa’s West Coast. 

R20m Mortimer concentrator contract awarded

     24th April 2003 A R20-million turnkey project contract has been awarded to Metso Minerals Processing for Anglo Platinum’s Union Section Mine’s Mortimer Concentrator. 

Alexkor sale will not be compromised by Gounden's Bateman appointment - DPE

By: Martin Czernowalow     23rd April 2003 South Africa’s Department of Public Enterprises (DPE) has poured cold water on suggestions that a conflict of interest could arise in the sale of State gem miner Alexkor due to the appointment of Dr Sivi Gounden as CE of Bateman – the company's main shareholder is part of a consortium... 

Two SA platinum producers to expand refineries

By: Martin Czernowalow     23rd April 2003 Two of South Africa’s platinum producers are currently working on expansions and upgrades of their refineries, Mining Weekly Online can report. 

First Quantum revises 2003 output for Zambia mine

     23rd April 2003 Canada's First Quantum Minerals said yesterday its Bwana Mkubwa copper mine in Zambia would reach full capacity in May, but the mine's 2003 output would be lower than expected. 

SouthernEra appoints new financial officer

     23rd April 2003 Mid-tier Canadian miner SouthernEra Resources has announced the appointment of Mark Rosslee to the position of senior vice president and chief financial officer. 

De Beers Marine buys some Namco assets

     23rd April 2003 De Beers Marine Namibia has acquired Namco Mark II Ltd's marine assets for $20-million, the diamond company said on Tuesday. 

Comex gold rises to three-week high before retreating

     23rd April 2003 COMEX gold rose to a three-week high on Tuesday, piggybacking off a stronger euro and adding to its gain the previous day, before a rebounding US stock market took some steam out of the rally. 

Gold projects to stabilise SA's falling output

By: Martin Zhuwakinyu     18th April 2003 A new mantra has emerged at South Africa’s gold-mining houses. And it comprises just two words: organic growth. 

Study on new Zambian copper project by July

     18th April 2003 A bankable feasibility study (BFS) for the Lumwana copper-cobalt project in north west Zambia is on schedule and on budget for completion in July 2003. 

Drilling starts on Ghana gold prospect

     18th April 2003 Canada’s PMI Ventures has announced that drilling has begun on its Ashanti II Deep Gold project in Ghana, West Africa. 

Burkina Faso gold find announced

     18th April 2003 Gold miner Orezone Resource reported positive drill results from its Burkina Faso gold property in West Africa this week, that could prompt it to increase estimates of the site's grades and total ounces. 

CVRD restructures logistics companies

     18th April 2003 Brazil’s Companhia Vale do Rio Doce (CVRD), Companhia Siderurgica Nacional (CSN) and other non-listed companies have signed a contract for the purchase and sale of shares in logistics companies. 

Construction-fleet deal for Aussie gold mine

     18th April 2003 Equipment manufacturing firm Sandvik Mining and Construction, through its subsidiary Sandvik Tamrock Australia, has signed an agreement with Barrick Gold Corporation covering delivery, service and support of complete fleet of equipment for its Plutonic gold mine in Australia. 

Output from Fiji gold mine rises

     17th April 2003 Production from Fiji's only gold mine rose 14% to 30 206 oz in the third quarter versus the previous quarter, owner Emperor Mines said yesterday. 

Questions raised over latest two Avgold-linked deals

By: Martin Czernowalow     17th April 2003 Observers are struggling to understand why gold miner Avgold has been on the wrong end of two high-profile deals in the last week: the downward revision of the sale price of Eastern Transvaal Consolidated (ETC), as well as the sale of 90-million shares to foreign investors. 

Randgold Resources set to sell Syama

     17th April 2003 South African miner Randgold Resources said it has entered into an option agreement with Resolute Mining, the Australian mining company, to dispose of its 80% interest in Soci 

Cameroon grants US miner permit on big cobalt deposit

     17th April 2003 A unit of US-based mining company Geovic, Geovic Cameroon, has been granted a permit to develop what it believes to be the world's largest primary cobalt deposit in the southeast of the West African country. 

Placer begins work on Nevada mine

     17th April 2003 Canadian miner Placer Dome announced yesterday that it is initiating the start-up of the Turquoise Ridge gold mine in Nevada, part of the Getchell property. 

Chinese zinc refiners protest low margins

     17th April 2003 Dismal treatment charges are pressuring China's key zinc firms to trim output targets and limit imports of raw material this year, company officials and analysts said yesterday. 

Wankie secures $5,3m financing

     17th April 2003 Zimbabwe’s sole coal producer, Wankie Colliery Company, has secured a $5,3-million facility from the African Export-Import Bank to purchase vital spare parts, McCloskey Coal News reports. 

Royalty bill will cost mine jobs - Chamber

     17th April 2003 The draft mining royalties bill, as proposed by the National Treasury, could cost South Africa jobs, according to the Chamber of Mines. 

Plans for new Kimberley gem bourse by end of May

By: Terence Creamer     16th April 2003 The Northern Cape government is confident that South Africa’s second diamond bourse will be set up in Kimberley by the end of next month – at present only Johannesburg has such a bourse. 

Ample supply to keep aluminium in surplus

     16th April 2003 Expansions to aluminium capacity in the next few years will keep the metal in significant supply surplus and prices weak as demand fails to match rising output, but analysts say this has not deterred producers from planning the next wave of projects. 

WMC Resources on track for profit target

     16th April 2003 Australian miner WMC Resources said yesterday it was on track to achieve its 2003 production and profit forecasts despite a first-quarter slip in copper and nickel output. 

BHPB launches $850m global bond

     16th April 2003 The world's largest diversified natural resources company, BHP Billiton, announced yesterday the successful launch of its 10-year global bond. 

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