R/€ = 16.35 Change: 0.00
R/$ = 14.26 Change: 0.00
Au 1233.47 $/oz Change: 0.97
Pt 832.50 $/oz Change: 4.25

Latest News

New gold and copper giant to list in 4 weeks

21st October 2005 South African miner African Rainbow Minerals (ARM) recently formed a new company, TEAL Exploration & Mining (TEAL), into which ARM's non-South African exploration portfolio will be injected. 

'Buffels underground operations to resume today'

21st October 2005 It emerged late yesterday afternoon that the way had been cleared for the takeover of the Buffelsfontein and Hartebeesfontein mines, in the North West Province, by Simmer & Jack (Simmers). 

Western Areas swings to profit

21st October 2005 South African gold miner Western Areas swung to a profit in the quarter to end September from a loss previously, as gold production increased, the firm said yesterday. 

Eritrea drilling fast-tracked

20th October 2005 Australian-listed Sub-Sahara Resources has announced that Canadian-listed joint venture partner Sunridge Gold has signed contracts to add three additional drills to the Asmara joint venture in Eritrea. 

Nickel miner reports strong production figures

20th October 2005 Kambalda nickel producer Mincor Resources yesterday reported strong September quarter production figures and said a highlight of the quarter had been the outstanding performance of its new North Miitel ore body. 

Canadian miner sued over gold project share

20th October 2005 Canadian miner NovaGold Canada, a wholly owned subsidiary of NovaGold Resources, has been served with a writ of summons by Pioneer Metals Corporation related to its option to earn 60% of the Grace claims located in Northwestern British Columbia. 

IFM starts construction of ferrochrome project

20th October 2005 AIM-listed International Ferro Metals (IFM), yesterday started construction of its ferrochrome plant at the Buffelsfontein ferrochrome smelting and mining operation near Mooinooi in the North West province, South Africa. 

CRM sells mining, industrial tools divisions

20th October 2005 Mining equipment distributor Consolidated Rock Machinery (CRM) has sold the assets and rights of its mining and related business activities and industrial tool division to Atlas Copco South Africa for an undisclosed amount. 

Gold Fields takes back seat in Finland PGM project

By: Nicola Mawson     20th October 2005 JSE-listed Gold Fields has restated its relationship with Canadian firm North American Palladium (NAP) and has now taken a back seat in the Finnish Arctic Platinum project. 

Gold-mining town now awaits court decision

By: Nicola Mawson     20th October 2005 A High Court sanction that would give Simmer & Jack Mines the go-ahead to resume underground operations at DRDGold's liquidated Buffelsfontein and Haartbeesfontein mines has been delayed until this morning. 

Aveng claims progress in payment fight with Aquarius

By: Nicola Mawson     20th October 2005 South African construction firm Aveng, having won the first round in a payment dispute between it and Aquarius Platinum, will now be resubmitting an invoice for over R169,3-million to the miner, Aveng FD Dennis Gammie tells Mining Weekly Online. 

President Steyn restructuring to cost R29m

20th October 2005 AIM-listed Thistle mining has announced that management of its President Steyn Gold Mine in South Africa reached agreement with the National Union of Mine Workers and Solidarity over a restructuring process. 

Platinum miner adds ounces in SA project

20th October 2005 Toronto Stock Exchange-listed Platinum Group Metals has announced an independent resource calculation on its War Springs property that confirmed an inferred resource of 980 000 ounces of platinum, palladium and gold, among other metals. 

Improved risk profile for Kenya mineral-sands project

19th October 2005 Canadian miner Tiomin yesterday reported that SRK Consulting had completed its independent review of the miner's Kwale titanium mineral sands project, in Kenya, which was been commissioned by Barclays Capital for the benefit of potential lenders to the project. 

Oz miner looks to build copper-production facility

19th October 2005 Several promising finds with intersections of up to 52 m at 4,5% copper in hole BKRCD72 and 44 m at 4,5% copper in hole have enhanced the possibility of a dedicated copper production facility being established in the Balcooma area, in Australia, Kalgara Zinc said yesterday. 

Prefeasibility study begins for Oz iron, cogeneration plant

19th October 2005 Australian coal explorer Aviva said yesterday that it has finalised the appointment of all consultants for the prefeasibility study of an iron-making and cogeneration facility based on the Central West coal deposit, in Western Australia. 

Drill results confirm open-pit potential at Tanzania gold project

19th October 2005 Gallery Gold yesterday announced the results of ongoing drilling at the Buckreef project in Tanzania. 

Gold hopeful upbeat on Columbia drill results

19th October 2005 AIM- and TSX-listed Greystar Resources yesterday reported that the latest drill results continue to substantially enhance the volume of mineralisation that appears suitable for a bulk tonnage, low-cost open pit mining operation at its wholly-owned Angostura gold-silver deposit in northeastern... 

Canadian miner raises $1m for exploration

19th October 2005 TSX Venture Exchange-listed Goldbrook Ventures has announced that it has arranged a non brokered private placement that will raise $1-million. 

Expert team to tackle SA mining's seismic challenges

By: Nicola Mawson     19th October 2005 South Africa's Department of Minerals and Energy has established an expert panel to investigate wider issues raised by the events at DRDGold in Stilfontein in March this year. 

RMB to advise on Afplats' R2bn capital raising

19th October 2005 AIM-listed platinum exploration and development company African Platinum (Afplats) announced yesterday that it had appointed Rand Merchant Bank (RMB) to advise it on the structuring and funding of the Leeuwkop PGM project. 

Chemicals group eyes offshore growth

By: Liezel Hill     19th October 2005 JSE-listed AECI's speciality chemicals company, Chemical Services (Chemserve), is actively looking for acquisitive offshore expansion opportunities, probably through its specialised mining chemicals business, investors and analysts heard yesterday. 

IFC and IDC finalise stakes in DRC project

18th October 2005 Adastra Minerals has reported that the Industrial Development Corporation of South Africa (IDC) and the International Financial Corporation (IFC), the World Bank Group's private sector arm, have now executed definitive agreements with Adastra, exercising their options to acquire respectively 10%... 

North West quake hearing finds poor management control

18th October 2005 The Department of Minerals and Energy investigation's to look into and report on the underlying causes of seismic events that occurred at DRDGold's liquidated North West operations on March 9 have found that the seismic event was triggered by strain changes in the rock mass. 

Rush on to resolve North West pumping challenge

By: Nicola Mawson     18th October 2005 Gold miners Simmer & Jack Mines and DRDGold yesterday afternoon met with the Department of Water Affairs and Forestry (Dwaf) in a bid to resolve the question of which firm should be responsible for pumping water at DRDGold's liquidated North West assets. 

Operations continue at Blaauwbosch

18th October 2005 Gem firm Dwyka Diamonds has announced the recommencement of operations at its recently acquired Blaauwbosch Mine. 

Afriore reports $1,6m H1 loss

18th October 2005 Gold and platinum explorer Afriore yesterday, reported a loss for the six month period ended August 31, 2005 of $1 59-million or $0,05 per share, compared to a loss of $702 251 or $0,02 per share for the six month period ended August 31, 2004. 

De Beers and Tawana form new gem firm

17th October 2005 Diamond miners Tawana and De Beers's Australian arm, De Beers Australia Exploration, have agreed to establish a 50/50 jointly owned company, which will be a public unlisted company. 

Loss-making gold hopeful targets mine development

17th October 2005 Canadian hopeful NovaGold Resources, in its financial and operating results for the three and nine month periods ended August 31, said that development work is ongoing - despite reporting a net loss - as it had just secured funding for $65,8-million. 

Agnes, Metallon poised for expansion

By: andrew lanham     17th October 2005 Three years ago, this writer visited Agnes gold-mine situated just outside Barberton in Mpumalanga. At that stage, the mine had recently been bought by Mzi Khumalo's Metallon Corporation, and renamed African Pioneer Mining (APM). 

Gold-miner sees progress on Sierra Leone project

17th October 2005 Miner Cluff Gold on Friday announced that it had completed its first drilling programme at the Baomahun gold prospect in Sierra Leone, The drilling programme concentrated on three sub-parallel structures, the Eastern, Central and Western zones, which have been explored and trial mined in the past. 

Union says government could derail gold rescue

By: Nicola Mawson     17th October 2005 Trade union Solidarity alleges that the Department of Water Affairs and Forestry (Dwaf) may derail the takeover by Simmer and Jack Mines of DRDGold's liquidated North West assets. 

Tight timeframe for building of new chrome operation

By: Nicola Mawson     17th October 2005 A new ferrochrome mine and smelting operation in the North West will be in production in 18 months' time and is to provide Chinese stainless-steel firm Jiuquan Iron and Steel Company (Jisco) with ferrochrome as part of an offtake agreement. 

Mexico drills prove new gold, silver, zinc and copper deposit

14th October 2005 Toronto Stock Exchange-listed Farallon Resources has said that new drilling results indicate that its Mexican property has high grades of gold, silver, zinc and copper. 

Gold hopeful chooses Africa over Australia

By: Nicola Mawson     14th October 2005 Australian gold miner Gallery Gold, which has its major asset base in Eastern and Southern Africa, has indicated that its Tanzanian mine will be producing by mid-2007. 

London miner upgrades gold resource

14th October 2005 AIM-listed Pan African Resources, the gold exploration and development company with assets in Africa, said in an upgrade in resources at its Manica project in Mozambique that a 800 000 oz resource (5,3-million tons 4,84 g/t average grade has been delineated. 

Mintek forms alliance with Indian firm

14th October 2005 South African mining reaserch firm Mintek and Tega Industries of India, have formed a strategic alliance for technological co-operation to further develop the Indian market with respect to mineral processing and the metallurgical industry. 

Anglo to engage with State on bigger iron-ore stake

By: Terence Creamer     14th October 2005 Mining group Anglo American has made a commitment to the South African government to hold its direct stake in the yet-to-be-formed iron-ore-focused Kumba Iron-Ore (KIO) to 49% for the time being, but indicated yesterday that it would continue to engage with the authorities on the issue. 

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