R/€ = 16.76 Change: 0.00
R/$ = 14.64 Change: 0.00
Au 1184.72 $/oz Change: 7.82
Pt 786.75 $/oz Change: 5.92

Latest News

Task-team to undertake replanning of gold-mine

28th May 2004 A task-team has been appointed at the President Steyn gold-mine, near Welkom, in South Africa, to find ways of preventing the dismissal of 1 500 of the mine’s 6 000 workers. 

Further gold industry job losses loom

By: Martin Czernowalow     27th May 2004 Mineworkers’ unions are bracing themselves for yet another round of possible retrenchments in the South African gold-mining industry, as the country’s strong currency continues to chip away at miners’ export earnings. 

Gem explorer in cash raising exercise

27th May 2004 Diamond exploration company Tsodilo Resources, which is prospecting in Botswana, has negotiated a non-brokered private placement to raise C$515 557. 

Aussie miner plans iron-ore entry

27th May 2004 Australian miner Gindalbie Gold has secured the backing of Malaysian industrial and steel conglomerate Melewar Industrial for its plans to enter the iron-ore industry in Western Australia. 

Canadian miner in gem deal with Anglo

27th May 2004 Canadian joint venture Etruscan Diamonds has concluded an option agreement with Anglo Operations, a division of Anglo American Corporation of South Africa, for properties in the Lichtenburg and Ventersdorp alluvial diamond districts. 

UK miner to decide on SA platinum project by year-end

27th May 2004 UK-listed Ridge Mining said yesterday it hopes to make a decision on the development of its Blue Ridge platinum project, situated on the eastern limb of South Africa’s Bushveld Complex, by year-end. 

Assore concludes BEE joint venture

27th May 2004 Mining holding company Assore, through its wholly-owned subsidiary African Mining and Trust Company, and Mampa Investment Holdings have announced that they have agreed to structure a mining project in a unique deal. 

ERPM to halt pumping at month's end

27th May 2004 Marginal gold-miner East Rand Proprietary Mines Limited (ERPM) in Boksburg announced last night that it plans to suspend pumping of extraneous water from the East Rand Basin at the end of the month. 

Chinese coke production deal signed

26th May 2004 Brazilian mining group Companhia Vale do Rio Doce (CVRD) reported that it has signed an agreement for coke production in China with Yankuang Group, one of the largest Chinese coal producers. 

SA-Australian miners in gem agreement

26th May 2004 Australian gem miner Namakwa Diamond Company yesterday announced an agreement with Trans Hex Group giving it the right to mine selected areas of potentially lucrative beach gravels and surf zones within an extensive coastal strip strategically located adjacent to its Namakwa Diamond Project in... 

China orders fifth longwall plow

26th May 2004 Underground equipment supplier to the mining industry DBT has successfully concluded negotiations to supply another fully automated longwall plow system to the People’s Republic of China. 

Trans Hex aims for 300 000 carats from Angola

By: Martin Czernowalow     26th May 2004 South African gem-miner Trans Hex started pilot production at its Fucauma operation, in Angola, during the financial year ended March 31. 

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. 

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