R/€ = 15.71 Change: 0.00
R/$ = 13.43 Change: -0.02
Au 1231.96 $/oz Change: 8.71
Pt 829.00 $/oz Change: 16.94

Latest News

Diamond sector study gets under way

By: jenny furness     26th May 2004 International consulting group Kaiser Associates has been selected to conduct a study aimed at identifying the opportunities, obstacles and action steps required for the development of the full range of South African diamond industries. 

Kumba in five year iron-ore deal with Corus

By: Terence Creamer     26th May 2004 South Africa's biggest iron ore producer Kumba Resources said on Tuesday it had signed a contract with Anglo-Dutch steel group Corus for a five-year supply of Sishen iron ore. 

African gold giant turns attention to China

25th May 2004 The newly-formed African gold giant, AngloGold Ashanti, has signalled its intention to participate in the burgeoning economic growth out of China as it speeds up the pace of business development and prospecting across the world. 

Barrick awards contract for development of Oz project

25th May 2004 Multinational gold producer Barrick Gold Corporation has awarded Aker Kvaerner the contract for engineering, procurement and construction management for the Cowal gold project, in Central New South Wales, Australia. 

Australian gold output falls as cyclones hit

25th May 2004 Australia’s gold output fell sharply in the March quarter as heavy rain from tropical cyclones dislocated production at many gold operations in Western Australia during the period, Melbourne-based Surbiton Associates said in its latest quarterly report. 

CVRD in deal to develop alumina refinery

25th May 2004 The world’s largest iron-ore producer and exporter, Companhia Vale do Rio Doce, and the Aluminum Corporation of China (Chalco), signed a framework agreement in Beijing, during the visit of the Brazilian President Luiz Inacio Lula da Silva to China, for a joint investment in an alumina... 

Sasol to enter new era of 'synfuels plus'

By: Martin Creamer     24th May 2004 The planned increase in South Africa’s power-generation capacity is expected to give rise to new coal-supply patterns. 

Miner awarded 41 DRC gem-prospecting permits

24th May 2004 SouthernEra Resources announced last week that it had been awarded 41 Diamond-exploration permits in the Democratic Republic of the Congo (DRC). 

First gold by September from Niger project

21st May 2004 Miners Etruscan Resources and Semafo announced on Wednesday that the Samira Hill gold project in Niger continues to move forward with the start of pre-strip mining from the main pit. 

Canadian miner advances gold, PGM prospects in SA

21st May 2004 Canadian explorer Caledonia Mining has made significant enhancements to its South African gold operations and management team and is continuing its platinum exploration activities in the country. 

BHPB, Anglo to study coal ‘megamine’

By: Martin Czernowalow     21st May 2004 Multinational mining giants BHP Billiton and Anglo American have taken the first tentative step towards developing a ‘megamine’ in the Western Complex, in South Africa’s Mpumalanga Province, the companies announced yesterday. 

Metorex in DRC copper, cobalt deal

21st May 2004 Multicommodity mining group Metorex yesterday announced that it had reached agreement with the government of the Democratic Republic of Congo (DRC), Gecamines and Sentinelle Global Investments to mine and treat the high-grade copper and cobalt stockpiles at Ruashi and Etoile. 

M&R-Cementation merger approved

20th May 2004 South Africa’s Competition Tribunal this week unconditionally approved the larger merger between Murray Roberts and the Cementation Company (Africa). 

Kumba Coal unconcerned about Sasol-Eyesizwe deal

By: Martin Czernowalow     20th May 2004 South African mining group Kumba Resources said yesterday its coal division’s proposed merger with empowerment company Eyesizwe Coal would not be compromised by Eyesizwe’s signing of a memorandum of understanding with Sasol. 

Gold-miner included on JSE's social-responsible index

20th May 2004 South African gold-miner Gold Fields Limited has been included as an inaugural member of the JSE Securities Exchange’s newly launched socially responsible investment Index. 

Judge rules for DRD in Rawas case

By: jenny furness     20th May 2004 Gold-miner Durban Roodepoort Deep (DRD) said yesterday that it has succeeded in the High Court of South Africa in having an exception relating to the Rawas transaction dismissed. It claimed that Judge Marais ruled, with costs, against defendants, Roger Kebble, John Stratton, Hendrik Buitendag and... 

Junior finalises buy from AngloGold

19th May 2004 Gold junior Tanami Gold yesterday announced that the terms of the agreement for the acquisition of AngloGold Australia western Tanami project, which hosts the Coyote gold deposit, has been completed and payment of A$5-million has been made to AngloGold. 

Drilling starts on Peru gold project

19th May 2004 Minerals firms Candente Resources and Orex Ventures announced this week that exploration hag started on the El Tigre gold property in Peru. Geophysical crews have begun a ground magnetics survey, which falls under the phase one exploration programme, being funded by Orex as part of an option to... 

Explorer wins Bushveld permit

19th May 2004 Canadian explorer Platinum Group Metals (PTM) reports that it has been granted exploration permits for mineral properties on portions of the Onderstepoort farm. 

CVRD-Nippon in 70mt iron-ore deal

19th May 2004 The world’s largest iron-ore producer, Companhia Vale do Rio Doce (CVRD), and Japanese Nippon Steel have announced an agreement for the supply of 70-million tons of iron-ore for 2005 to 2014. 

ARM awards automation contract for new alloy plant

19th May 2004 African Rainbow Minerals (ARM) division Avmin Alloys (Avalloy) has awarded a contract for the automation of its new alloy plant to Altech Informatics, a wholly owned subsidiary of JSE-listed Altech. 

'Gold could hit $1 000/oz'

By: jenny furness     19th May 2004 Absa Corporate & Merchant Bank’s (ACMB) chief financial markets strategist, Craig Zaayman, yesterday went against the consensus by saying that he envisages a gold price of $800/oz or even $1000/oz, given current international developments. 

Sasol-Eyesizwe in big BEE move

19th May 2004 South African-based petrochemicals giant Sasol yesterday took a big step towards reaching its black economic empowerment (BEE) targets by naming Eyesizwe Coal as its lead BEE partner. 

Mining equipment suppliers look outside SA

18th May 2004 It is not only large export companies that are experiencing the effects of the strong rand. 

Miners offered safer savings plan

18th May 2004 The latest round of possible mining industry redundancies – this time at Harmony Gold – has put the spotlight on the new savings plan launched by the Mineworkers’ Provident Fund. 

SouthernEra moves to up Messina stake to 91%

18th May 2004 Canadian miner SouthernEra Resources announced yesterday that it has entered into an agreement with a consortium of Messina shareholders to acquire 3 700 536 Messina shares, representing 18,4% of Messina's issued and outstanding shares. 

Papua New Guinea attracting big interest from SA miners

By: Keith Campbell     17th May 2004 The symbol of the Oceanian state of Papua New Guinea is the Bird of Paradise. It appears on the national flag. And, given that the country is rich in natural resources, including gold, copper and oil, it is, in its implications, a far-from-inappropriate symbol. 

SA firms set to benefit from Moz titanium project

By: Zonika Botha     17th May 2004 The construction contract for Kenmare Resources’ Moma titanium mineral-mine in Mozambique is likely to be awarded to a South African company, Bateman Minerals MD Pieter du Plessis reports. 

Thabex receives R20m for platinum project

17th May 2004 JSE Securities Exchange-listed Thabex Exploration on Friday announced that Australian junior mining company, AIM Resources, will exercise its option to acquire Thabex’s Mokopane Platreef project for R20-million. 

Platinum junior in deal to buy stake in SA firm

14th May 2004 AIM-listed Jubilee Platinum yesterday announced that it has entered into a sale of shares and claims agreement with the owners of New Platinum Corporation (NPC), which allows for the purchase of 51% of the sellers’ 50% interest in South African incorporated company NPC for the rand... 

Anglo Zimele’s latest investment empowers women

14th May 2004 The empowerment and business development arm of Anglo American, Anglo Zimele, yesterday announced its investment in DSI-Mandirk Strata Support, a company involved in the manufacturing and sale of complementary ranges of strata-support products for the mining industry. 

DRD refuses to raise Emperor offer

14th May 2004 South African gold producer Durban Roodepoort Deep (DRD), has yeaterday said it rejected an independent valuation of Australia’s Emperor Mines and remained committed to its bid of one DRD share for five Emperor shares for control of the company. 

First Quantam reports higher earnings

14th May 2004 Canadian mining company First Quantam released its results for the three months ended March 31, 2004, this week. 

NUM-De Beers sign six new agreements

14th May 2004 The National Union of Mineworkers (NUM) and De Beers Consolidated Mines (DBCM) today confirmed that they had signed a total of six new agreements, concluding a number of outstanding issues between the two parties. 

Mvelaphanda signs deal with Canadian gem explorers

13th May 2004 Canada’s Etruscan Resources and Mountain Lake Resources announced yesterday that their jointly-owned subsidiary, Etruscan Diamonds, has concluded an agreement with South Africa’s Mvelaphanda Exploration, whereby Mvelaphanda will fund a major capital expansion of the Tirisano... 

Prospector buys Ghana concession

13th May 2004 Gold explorer PMI Ventures has announced that it has completed the buyout of the Fromenda concession, one of nine concessions that is part of its Ashanti II deep gold project. 

‘Gold will remain steady in weak-dollar environment’

By: Martin Czernowalow     13th May 2004 Despite the strengthening of the US dollar during the last few days, which sent the dollar gold price to seven-month lows earlier this week, analysts believe the weak-dollar environment will persist, and that the dollar gold price is, therefore, likely to remain firm. 

Chamber of Mines clarifies BEE requirements

13th May 2004 Chamber of Mines president Con Fauconnier said yesterday that media publicity focused on the recently-introduced Mineral and Petroleum Resources Development Act (MPRDA), has given rise to concerns over black economic empowerment requirements for the mining industry. 

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