R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51

Latest News

Higher gold prices could stymie consolidation

     17th September 2001 Analysts believe that the firming gold price will increase the sense of urgency among those producers making moves to consolidate the fragmented gold production industry. 

Production at yet another Mali gold-mine by 2002

     17th September 2001 Production at Mali's proposed $74-million Tabakoto gold-mine will start at the end of 2002, rather than this year as initially planned, an official at Nevsun Resources, the Canadian company behind the project, told Reuters. 

The new rulebook for resources marketing

By: Martin Creamer     14th September 2001 The old rulebook for the marketing of mined resources is being torn up and a new one is in the process of being written. 

Platinum declines begin producing

     14th September 2001 Production has started at several of the new decline shafts at Impala Platinum’s lease area, in Rustenburg, North West Province. 

Gem prospecting on three continents

By: Laura Franz     14th September 2001 Diamond giant De Beers is spot-on at half-time with its exploration budget, having spent some $39-million of the $75-million allocated for the current year, reported MD Gary Ralfe last month. 

More zinc casualties emerge

     13th September 2001 Zinc market woes have been further entrenched with Pasminco, the top zinc miner and refiner, reporting a loss in fiscal 2001 after metals prices fell and it lost money on currency bets. 

Production to start in November at marine gem site

     13th September 2001 Full-scale mining of a marine diamond deposit off Namibia is expected to start in early November. 

Strike still on at platinum-mine

     13th September 2001 With workers entering their 30th day of strike-action, it seems that there is little hope that operations will start again before the end of the week at Northam Platinum. 

China stops output at zinc smelter

     12th September 2001 China’s biggest zinc producer, Huludao Zinc, has stopped production at one of its smelters due to dismal global prices, plant officials said last week. 

Golden bid won’t force magnesium rethink

     12th September 2001 Australian Magnesium Corporation (AMC) said it would soon launch a revised equity raising to fund its A$1,3-billion magnesium plant in Queensland. 

Union plans protests against vanadium firms

     12th September 2001 The National Union of Mineworkers (NUM) is finalising plans to embark on a campaign against vanadium companies in South Africa early next month. 

Mali's gold earnings surge

     11th September 2001 The Yatela gold-mine in Mali, a joint venture project between AngloGold (40%), IAMGOLD (40%) and the Mali government (20%), was officially opened this weekend. 

Canada moves to halt 'blood diamonds' trade

     11th September 2001 A bill to try to stop trade in Canada in ‘blood diamonds’, used to fund long-running African wars, will be introduced in Parliament this month. 

No acquisition binge planned by Barrick

     11th September 2001 The head of Barrick Gold Corporation said on Friday his company has no plans to boost production levels through a new acquisition binge, despite seeing gold giants AngloGold and Normandy Mining team up earlier this week. 

Gold marketing alliance

     10th September 2001 Electronic-base gold promotion platform GoldAvenue has announced the acquisition of a strategic interest in Vivre, a leading US direct luxury marketing company. 

China Olympics will boost metals demand

     10th September 2001 The largest mining company, BHP Billiton, said China’s staging of the Olympic Games in 2008 may boost Asian demand for metals used in construction, such as copper and zinc. 

KZN heavy minerals project makes first shipment

     10th September 2001 The R2,6-billion Kwazulu-Natal mineral sands project, now known as Ticor South Africa, has shipped out its first 5 000 t shipment of ilmenite from Richards Bay harbour last week. 

Capex acceleration at resources giant

     10th September 2001 Multicommodity resources group Anglo American will accelerate the rate at which it spends its capital budget in the second half of the year, particularly within its core business of platinum and base metals. 

Davison's strong strategic stand

     7th September 2001 Barry Davison is standing foursquare behind his strong growth plan. 

Far from slowing, work is actually marginally ahead

     7th September 2001 The gargantuan 75% expansion being undertaken by the world's largest platinum company is marginally ahead of schedule, divisional director of projects Mike Halhead tells Mining Weekly. 

Growing investor confidence a boom for Mozambique titanium project

     7th September 2001 Irish mining firm Kenmare Resources is in the process of arranging product off-take agreements and project finance for its proposed $159,9-million Moma titanium minerals project in Mozambique. 

Big capital plans for small SA resources group

     7th September 2001 Mining operator Metorex has spent about R155-million capital expenditure on various projects in 2001, a significant increase over the R18,3-million spent last year. 

Another big platinum project announced

     7th September 2001 South Africa’s Anglo Platinum said it would proceed with the development of a new platinum-group metals (PGMs) mine in the country’s Bushveld Igneous Complex. 

Gold firms make human-rights abuse reponse

     6th September 2001 In response to a story that Mining Weekly Online published last week about a dispute in a village resettlement in the Geita district of Tanzania, a joint statement has been issued by the CE of Ashanti Goldfields and Anglogold. 

Big gold consolidation offer

     6th September 2001 More than half of the gold of the world’s largest gold company will come from shallow reserves if its offer for the world’s seventh-largest gold company is accepted. 

Russians keep PGM market guessing

     6th September 2001 The Russians are continuing to keep the world guessing with regard to their precise platinum-group metals (PGM) sales strategy. 

Diamond miners talk marketing

     5th September 2001 Leading international mining company, BHP Billiton, met Russian diamond group Alrosa in Moscow to discuss its diamond marketing strategy at a time when the Russian company is negotiating to extend its sales pact with De Beers. 

DRC moves to end mining parastatal mismanagement

     5th September 2001 Congolese President Joseph Kabila has fired top executives of all public sector firms, including copper and cobalt mining giant Gecamines, State radio said on Monday. 

Black resources group in historic listing move

     5th September 2001 A new black-empowered resources force will list on the JSE Securities Exchange. 

Golden partnership needed to boost productivity

     4th September 2001 South African gold producers have to mine and market gold in such a way that they offer the investor a better return than could be obtained anywhere else, stated Anglogold chairperson and CEO Bobby Godsell. 

Junior in Copperbelt talks

     4th September 2001 North American junior Caledonia has entered discussions with a number of mining companies for possible joint venture developments of the Konkola West licence area of the Zambian Copperbelt. 

SA mining industry happy with DRC mining code

By: Terence Creamer     4th September 2001 South African mining companies met on Friday to study and respond to the proposed new mining code that is being developed by the Democratic Republic of the Congo (DRC), and which could be brought into law by the end of the year. 

Enviro-friendly miners receive better returns

     3rd September 2001 Top environmental performers in the annual survey of the global metals and mining industry posted accumulated returns over 60% higher than environmental laggards over a three-year period, and 10% higher returns over one year according to Innovest Strategic Value Advisors of New York. 

Zambian precious metals frim up for sale

     3rd September 2001 Management consultant Deloitte & Touche said it was seeking bids for Zambia’s precious- metals processor Minerva Zambia and Kawambwa Tea Company, both owned by the Binani Group. 

Why Sexwale is talking plainum with the Russians

By: Martin Creamer     3rd September 2001 The former Gauteng premier, whose Mvelaphanda has a 22,5% interest in South Africa's fourth-largest platinum company, tells Mining Weekly that he has held informal platinum discussions with the Russians – and intends holding more. 

How a R14m loss turned into a R59m profit

     31st August 2001 The 42-year-old Neal John Froneman has again worked his magic, turning a R14-million loss at Harmony Gold Mining's latest Elandskraal acquisition, in the Witwatersrand Basin, Gauteng, into a R59,2-million profit in three months – a 520% turnaround. 

Messina PGM ahead of schedule

     31st August 2001 Canadian resources company Southern Era has noted approval of R345-million debt financing for the Messina platinum group metals (PGM) project in South Africa as a key highlight of its second quarter. 

SA multi-commodity group eyes R500m PGM prospect

     31st August 2001 South Africa’s Anglovaal Mining has reported lower earnings for the year ended June 30, 2001, due mainly to the absence of royalty income from a diamond joint venture that was sold last year. 

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