R/€ = 14.93 Change: 0.10
R/$ = 12.67 Change: 0.11
Au 1292.50 $/oz Change: 3.18
Pt 900.50 $/oz Change: 13.36

Latest News

Still no movement on coal terminal expansion

By: Martin Czernowalow     10th April 2003 A disagreement regarding utilisation and common user policy at the Richards Bay Coal Terminal (RBCT) seems to be the latest stumbling block in the terminal’s expansion project, sources tell Mining Weekly Online. 

DRD gold output declines 7% in Q3

10th April 2003 South African mining firm Durban Roodeport Deep (DUR) reported a 7% decline in its gold production for the March 2003 quarter, due partly to downscaling of its open-cast operations at one of its plants. 

Approval gained for first Greenland mine in 30 years

10th April 2003 Canadian junior Crew has announced that Greenland and Denmark have given the go ahead for the first new mine in Greenland in over 30 years and the country's first ever gold mine. 

Moscow mulls platinum metals disclosure

10th April 2003 The Russian government is preparing to reveal data on its stocks, output and sales of platinum group metals and diamonds, business daily Vedomosti reported yesterday. 

US approves bill to curb conflict diamonds

10th April 2003 The House of Representatives this week overwhelmingly approved a bill aimed at banning imports of uncut diamonds that fund African civil wars. 

Cut in global hedge-book supports gold price

10th April 2003 The outstanding gold-producer hedge book declined by 14% to 81-million ounces or 2 509 t, equivalent to 97% of mine production in 2002, a new hedge-book analysis, produced by Gold Fields Mineral Services (GFMS) and Investec, shows. 

223 Anglo miners on ART

10th April 2003 Aurum Health Research (Aurum), a wholly owned subsidiary of AngloGold and facilitator of the antiretroviral therapy (ART) programme across the entire Anglo group, has registered 32 company-based healthcare facilities to deliver ART and 223 employees have enrolled for treatment. 

N Cape aims to localise 30% of mine spend within five years

9th April 2003 The Northern Cape government – which recently concluded a preferential procurement deal with six mining companies operating in the province – hopes to raise the overall level of local procurement within five years to around 30% of the R3,4-billion spent by these miners yearly. 

EIA study on for new chrome-mine project

By: Martin Czernowalow     9th April 2003 An environmental-impact assessment (EIA) study is under way for Samancor Chrome’s proposed chrome-mining development project, located north of Steelpoort, in the Limpopo Province. 

Chambishi boosts global cobalt production

9th April 2003 Total global cobalt availability during 2002 exceeded 40 000 t for the first time, boosted by significant increases from Zambia's Chambishi Metals, data published by the Cobalt Development Institute (CDI) showed on Monday. 

Mozal II produces first aluminium

9th April 2003 The world’s largest diversified miner, BHP Billiton, announced yesterday that the first aluminium was cast at its expansion project at the Mozal II aluminium smelter near Maputo, in Mozambique. 

Market sees no counterbid for MIM

9th April 2003 The market today did not expect a counterbidder to trump a A$3,4-billion ($2-billion) cash offer from Xstrata for Australian miner MIM Holdings, but fund managers grumbled that Xstrata may be getting MIM cheaply. 

Anglogold’s Aids programme to cost up to $32m/y

9th April 2003 South Africa's biggest gold producer AngloGold yesterday became the latest firm to offer life-prolonging Aids drugs to staff infected with the HIV virus that is cutting swathes through the labour force. 

Gem junior announces good Antwerp sale

9th April 2003 Canadian mining company Diamond Fields International (DFI) announced the sale of 4 333 carats recently, at an average price of $147,67 a carat, for a total price of $639 812. 

Aussie miner to buy prospect from SA gold major

9th April 2003 Australia’s Helix Resources is set to move to 100% ownership of the Tunkillia Gold Project, in South Australia’s Gawler Craton, and secure a 75% interest in the nearby Tarcoola Project, after announcing it had reached agreement with AngloGold to acquire its interests in the region. 

Avmin in move to sell troubled cobalt smelter

9th April 2003 South African multicommodity miner, Anglovaal Mining (Avmin), has confirmed that it signed a Memorandum of Understanding (MoU) last week with Swiss group J&W Holding AG (J&W), regarding the sale of Avmin’s 90 per cent stake in Chambishi Metals. 

De Beers did not profit from apartheid - Ralfe

9th April 2003 The world's largest diamond group De Beers said on Tuesday it did not profit from apartheid as alleged in a lawsuit brought last week that seeksup to $6,1-billion in damages for victims of apartheid. 

DTC showcases 200 sightholder marketing initiatives

8th April 2003 The Diamond Trading Company (DTC) – the marketing arm of diamond giant De Beers - yesterday outlined the key benefits of its new Supplier of Choice marketing strategy to the diamond jewellery trade at the 2003 Basel International Watch and Jewellery Fair. 

Target gold mine begins showing its quality

8th April 2003 South African gold producer Avgold announecd yesterday that it had recorded a 15% increase in revenue, to R278-million (December 31, 2002: R241,6-million), and a 188% increase in operating profit to R47,2-million (R16,4-million), after most of the production issues adversely affecting the... 

Xstrata to buy MIM for $2,07bn

8th April 2003 London-listed coal and zinc miner Xstrata agreed yesterday to buy Australia's MIM Holdings for $2,07-billion in cash, doubling its size and helping it spread its wings into new commodity markets. 

Japanese giants in crushing-equipment merger

8th April 2003 Japanese industrial giants Kawasaki Heavy Industries and Kobe Steel have signed an agreement to merge their crushing-equipment business. 

Chinese aluminium output climbs strongly

8th April 2003 The faster-than-expected expansion of China's aluminium industry is the major driving force behind rising global aluminium smelter capacity and output forecasts this year and next, the Reuters Metal Production Database (MPD) shows. 

Konkola posts $159m loss for 2002

8th April 2003 Zambia's Konkola Copper Mines (KCM) yesterday posted a consolidated loss of $159-million for 2002, the year that saw the exit of its key shareholder, diversified mining giant Anglo American. 

Gold major says explore or bust

By: Jill Stanford     7th April 2003 Global gold-mining company Barrick Gold Corporation believes that, while the ‘urge to merge’ remains, particularly at the mid-tier and junior level, exploration now has to take centre stage, especially among the majors. 

SA to host Kimberley Process meet in April

7th April 2003 South Africa will host the next plenary session of the Kimberley Process, the worldwide body that regulates the trade and certification of rough diamonds, from April 28 to 31, in Johannesburg. 

China to offer tax rebates on copper concentrates

7th April 2003 China will offer rebates for taxes on copper concentrate imports to producers this year, to help ease the pain caused by a chronic shortage of raw materials, smelter officials said on Friday. 

Smelter repairs slow first quarter output at Konkola

7th April 2003 The closure in December of units of the Nkana smelter for repairs slowed copper and cobalt production at Zambia's premier Konkola Copper Mines (KCM) in January and February, the firm said last week. 

Gem giant’s third sight not affected by war

By: Martin Czernowalow     4th April 2003 Continuing on last year’s trend of solid diamond sales, De Beers described its first three sights of 2003 as having gone “extremely well”, despite the current war in Iraq. The latest sight took place in London last week. 

Guinea concerned about drop in bauxite revenues

4th April 2003 Guinea's bauxite revenues have fallen by about 30% between 1998 and 2002 because of deteriorating quality and a drop in world prices, a senior official at the mines ministry said this week. 

US Senate panel approves conflict diamonds bill

4th April 2003 The Senate Finance Committee unanimously approved a bill aimed at banning imports of diamonds used to fund bloody African civil wars. The move brings the US closer to implementing an international agreement to curb trade in so-called "conflict diamonds". 

De Beers sets up BEE advice group

4th April 2003 Diamond giant De Beers and its shareholders recognise and fully support the need for transformation and for the economic empowerment of historically disadvantaged persons in the South African mining industry, company said yesterday. 

Gold plumbs four-month low as noose tightens on Baghdad

4th April 2003 Gold's Iraq premium continued to evaporate yesterday, as prices dropped to four-month lows after US armoured units drove almost unopposed to the edge of Baghdad and fought to seize the city's airport. 

Norilsk marketing arm confirms Stillwater purchase

4th April 2003 London-based Norimet, the marketing arm of Russia's Norilsk Nickel, will carry out the proposed purchase of US palladium major Stillwater Mining, pending regulatory approval. 

Anglo rejects apartheid-reparations move in US

4th April 2003 Resources group Anglo American has strongly rejected efforts made by US lawyers and others to use US courts to resolve important issues for South Africa's future. 

Anglo American hit by apartheid lawsuit

4th April 2003 A US lawyer campaigning for compensation for victims of apartheid said today he was filing suit for damages of up to $6,1-billion against mining giant Anglo American and its diamond business De Beers. 

Cluff hopes to begin building new SA platinum-mine this year

By: Terence Creamer     3rd April 2003 British miner and explorer Cluff Mining says it has firm plans to complete the Blue Ridge feasibility study as well as source project finance for the construction of a new $60-million to $70-million South African platinum-mine during the course of this year. 

Boart set to acquire drilling consumables group

3rd April 2003 Mining systems and services company Boart Longyear has entered into negotiations for the acquisition of Huddy Limited and Huddy Rock Tools Limited. 

Messina output could exceed 500 000 oz

By: Martin Czernowalow     3rd April 2003 Canadian-listed platinum and diamond producer SouthernEra is confident that its platinum-group metals (PGM) production at its Messina mine will eventually exceed 500 000 oz/y, as it implements a four-phase development strategy. 

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