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Latest News

Resources-focused BEE firm eyes LP gas niche

By: Matthew Hill     18th September 2006 Empowered investment holding company Reatile Resources is in discussions with a strategic partner to enter the liquefied-petroleum gas market, the company reported in an emailed statement on Monday. 

Explorer begins drilling Angola gem prospect

18th September 2006 Diamond-explorer Xceldiam has announced that core drilling at the its Luangue Concession in north east Angola, where the company has a 39% interest in a kimberlite exploration license and a 40% interest in an alluvial exploration license, had started. 

BHP Billiton wants cooperation with Renova to ensure new manganese capacity does not harm SA industry

By: Matthew Hill     18th September 2006 The world's largest diversified miner, BHP Billiton, says that it is keen to cooperate with Russian minerals company Renova in exploiting extra manganese capacity in the Northern Cape, but cautions that a new mine could threaten the viability of the local industry. During a recent visit to South... 

Harmony, NUM in deal to fight illiteracy

18th September 2006 South Africa's third-largest gold producer, Harmony Gold, has signed an adult-based education and training (Abet) agreement with the National Union of Mineworkers (NUM) to provide full time schooling for part of its workforce, starting in 2007, in a bid to eradicate illiteracy. 

Tribunal explains why Anglo's representation on Exxaro board is justifiable

By: Mariaan Webb     18th September 2006 South Africa's Competition Tribunal, which backed Anglo American's plans to have representation on the Exxaro board, the new company to be formed from merging Kumba and Eyesize Coal, said that Anglo's rationale for representation on the board of a rival company was justified and that it would not... 

BHP confident of agreement with Spence copper workers

By: Bloomberg     18th September 2006 BHP Billiton Ltd., the world's largest mining company, said it's confident of eventually reaching a wage agreement with workers at its $1-billion Spence copper project in Chile. 

Wits Gold aims to accelerate at least one prospect to feasibility within three years

By: Mariaan Webb     15th September 2006 The advancement of exploration campaigns continued to be JSE-listed gold-focused explorer Wits Gold's main priorities, CEO Mark Watchorn said in the company's annual report, released on Friday. 

Ridge Seeks Partner for $690m SA nickel mine

By: Bloomberg     15th September 2006 Ridge Mining Plc said it expects to name a partner this year to help fund and develop a $690-million nickel mine in South Africa. 

Afplats signs refining contract with Impala

15th September 2006 London-listed platinum exploration and mining company African Platinum (Afplats) announced on Thursday that it had signed a 10-year contract with Impala Refining Services, which would see the refiner buying all the concentrate that Afplats produced at its Leeuwkop project on the western limb of... 

Nufcor may raise more cash to increase uranium stocks

By: Bloomberg     15th September 2006 Nufcor Uranium, an investment fund which stockpiles the nuclear fuel, may seek to raise at least $50-million in the next several months to buy more metal because of an expected shortfall in supply. 

Iamgold to buy Cambior for $1bn in stock

By: Bloomberg     15th September 2006 Iamgold Corp. agreed to buy Cambior Inc. of Canada for C$1,16-billion ($1,04-billion) in stock to double gold production at a time of rising prices and escalating costs for developing new mines. 

BHP's Spence mine workers in Chile to vote today on strike

By: Bloomberg     15th September 2006 Workers at BHP Billiton's $1-billion Spence copper project in Chile will vote on Friday to strike, which may delay the start of production at the site, a labor union at the world's largest mining company said. The workers want BHP to raise wages by 7 percentage points above inflation, said Andres... 

BHP Billiton still upbeat on China, sees attempts to cool economy as positive

By: Matthew Hill     14th September 2006 Although global cost pressures were on the rise and the US was showing signs of an economic slowdown, which could have a knock-on effect on the expeditious growth of China's economy, BHP Billiton president: manganese Peter Beaven remained upbeat about the world's second-largest diversified... 

Incwala appoints Mbatha as CEO, Ntuli as chairperson

By: Bloomberg     14th September 2006 Incwala Resources Ltd., a black-owned South African mining investment company, said it appointed Zanele Mavusu Mbatha as its new CEO. She will replace Arne Frandsen, who quit in June, the Johannesburg-based company said in an e-mailed statement on Thursday. 

Harmony may reject Gold Fields' Western Areas offer

By: Bloomberg     14th September 2006 Harmony Gold Mining Co., Africa's third-largest gold producer, said it probably won't accept an all-stock offer from Gold Fields Ltd. for a 29,2 percent stake in Western Areas Ltd. The offer is unattractive because shares of Gold Fields have dropped 14 percent since September 7, the day on which... 

Harmony won't accept Gold Fields offer - report

By: Bloomberg     14th September 2006 Harmony Gold Mining Co. won't accept the current offer made by Gold Fields Ltd. for its shares in Western Areas Ltd., Business Report said, citing Bernard Swanepoel, chief executive officer of Harmony. 

LionOre seeks $300m for Botswana nickel mine

By: Bloomberg     13th September 2006 LionOre Mining International Ltd., a Canadian nickel producer, said it will choose by November one of six banks from which to borrow $300-million to finance almost half the cost of a planned refinery in Botswana. 

Gold, little changed on Comex, may fall on Bank sales

By: Bloomberg     13th September 2006 Gold, little changed in New York, may fall for the sixth straight session on speculation central banks in Europe may sell more of the precious metal before a September 26 deadline. 

South African to head world diamond body

13th September 2006 The world's biggest diamond organisation, the World Federation of Diamond Bourses (WFDB), with 26 members worldwide has elected a South African diamantaire, Ernie Blom, as its new president. 

Boliden shares fall, company denies BHP Billiton bid

By: Bloomberg     13th September 2006 Shares of Boliden AB, Europe's third-largest copper refiner, fell after CEO Jan Johansson denied a report in Dagens Industri that the company had received an offer from BHP Billiton Ltd. 

Domestic coal demand sufficient to sustain profitable mining, says DME

By: Mariaan Webb     13th September 2006 The demand for coal in the South African market, which currently absorbs around 45% of domestic production, was sufficient to sustain profitable coal-mining in South Africa, a government official assured a conference on Wednesday. 

North Ashanti prospecting campaign progressing

By: Nelendhre Moodley     13th September 2006 Canadian gold explorer AMI Resources has announced positive results from its first pass reverse-circulation (RC) drill programme on the Anuoro concession, which is part of the North Ashanti project, in the south-central part of Ghana. 

JCI faces R5bn claim from R&E - report

By: Bloomberg     13th September 2006 Randgold & Exploration is claiming R5 billion from associated company JCI largely for fraud committed by former CEO Brett Kebble, Business Day reported on Wednesday. 

KimCor commissions Bellsbank diamond plant in SA

By: Bloomberg     13th September 2006 KimCor Diamonds Plc, a London-based company that recovers diamonds from mine waste in South Africa, said it started production at the Bellsbank plant. 

Copper falls for fourth day in China on concern demand may slow

By: Bloomberg     13th September 2006 Copper prices in Shanghai fell for the fourth day as signs of slowing construction growth in China and weakening US housing market prompted investors to sell the metal. Gold also dropped. 

LionOre ramps up Tati capex in bid to 'bulletproof' hydromet solution

By: Terence Creamer     13th September 2006 Nickel miner LionOre has more than doubled the capital expenditure needed to deliver the world's first commercial-scale hydrometallurgical nickel refinery at Tati, in Botswana, from $225-million in the original plan to $482-million. LionOre Africa MD Peter Breese says the revisions have been... 

Gold Fields insists it did submit EE records

12th September 2006 One of the world's largest gold-miners, Gold Fields, expressed strong displeasure after the Department of Labour's mistakenly having listed the firm amongst companies that had not submitted employment equity records for 2005, on Tuesday morning. 

Improve lot of workers and communities, DME urges

By: Mariaan Webb     12th September 2006 Ownership dominance in mining-industry black economic empowerment (BEE) transactions should make way for greater worker involvement and local community upliftment, South Africa's minerals and energy DG Adv Sandile Nogxina said on Tuesday. 

Glencore teams up with Zambian copper explorer

12th September 2006 Copper and gold resources explorer Zambezi Resources has announced that it has placed  

Regulatory regime stunting foreign mining investment - Swanepoel

By: Mariaan Webb     12th September 2006 The South African government's regulatory regime was to blame for the local mining industry's inability to attract foreign investment, Chamber of Mines vice president Bernard Swanepoel said on Tuesday. Swanepoel was delivering a presentation on behalf of organised business at the Department of... 

Newmont Ghana to miss gold output target due to power rationing

By: Bloomberg     12th September 2006 Newmont Mining Corp.'s Ghanaian unit may produce half as much gold as forecast this year due to power rationing in the West African country, said Mawuena Dumor, communications manger at Newmont Ghana Gold Ltd. 

Anglo Zimele showcasing BEE enterprises at Electra Mining 2006

12th September 2006 Anglo American business development and empowerment arm Anglo Zimele, is currently showcasing some 40 of its black economic-empowerment (BEE) small and medium sized enterprises (SMEs) in Hall 10 at Electra Mining Africa 2006 held at the Johannesburg Expo Centre, in Nasrec from September 11 to 15. 

UK firm advances Sierra Leone gem exploration

12th September 2006 UK-based international diamond exploration and mining company River Diamonds announced that the initial phase of drilling at the Pandubo Kimberlite intrusion had intersected approximately 15 m of kimberlitic material in one hole and a further 1,5 m of kimberlitic material in a second. 

Anvil ups stake in DRC copper cobalt resource

12th September 2006 Australian copper miner Anvil Mining has acquired an additional 10% interest in the mining rights for the Kinsevere-Nambulwa copper cobalt deposits, located 30 km north-north-east of Lubumbashi, in the Democratic Republic of Congo (DRC). 

Uranium mineralisation confirmed during Namibia campaign

By: Nelendhre Moodley     12th September 2006 ASX-listed West Australian Metals has reported that a radiometry and sampling programme completed within its Marenica joint venture uranium project, in Namibia, has confirmed extensive uranium mineralisation. 

Kumba, First Quantum move to protect DRC rights

By: Matthew Hill     12th September 2006 Diversified miner Kumba Resources, headed by Con Fauconnier, and First Quantum Minerals have warned the international mining community that the firms would “actively” protect their rights to the Kipushi mine in the Democratic Republic of Congo (DRC). This was after the DRC's biggest... 

SA mining production fell 0,8% in July

By: Bloomberg     12th September 2006 South Africa, the world's biggest producer of precious metals and ferroalloys, said metals and minerals output declined for an eighth consecutive month in July from a year earlier. 

Copper gains in London on speculation Canada miners may strike

By: Bloomberg     12th September 2006 Copper gained in London for the first session in four on speculation that workers mining Canada's largest producing deposit of the metal may decide to strike. 

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