R/€ = 14.20 Change: 0.00
R/$ = 11.57 Change: -0.02
Au 1328.95 $/oz Change: -0.15
Pt 997.00 $/oz Change: 1.20

Latest News

Innovative fuel drop for Aussie mine

     2nd November 2001 International petroleum firm Shell Engineering has designed and constructed a 750m vertical fuel drop into the Mount Isa mine, one of the world’s largest underground hard- rock mines. 

Coal empowerment company's 10-year growth plan mapped out

     2nd November 2001 While the dust may have settled above-ground since a shake-up in the local coal industry led to the genesis of Eyesizwe, South Africa’s fourth-largest coal company, underground the company is working up a storm as, within the next decade, it prepares to grow its production from 18,5-million... 

Egypt moves towards gold production

     2nd November 2001 Egypt will become a commercial gold producer within six months, Industry Minister Mostapha el-Refaie said. 

Zambian copper mine plans to lift ouput

     2nd November 2001 Zambia’s Konkola Copper Mines said it would increase copper production in 2002 by 20% from a projected figure of 240 000 tons this year despite a downturn in global prices. 

Normandy deal could save Anglo $25m/y

     2nd November 2001 South Africa’s AngloGold said it saw no reason to raise its bid for Australia’s Normandy Mining but would be willing to do so if new value was uncovered. 

Another zinc operation to close

     1st November 2001 Canadian miner Hudson Bay Mining and Smelting said it will close its Ruttan zinc-and-copper mine in northern Manitoba next year because of low metal prices, a slowing global economy and a poor economic outlook. 

Mining group’s life may be short following approach

By: Terence Creamer     1st November 2001 Although steel and mining group Iscor has confirmed a formal approach for its mining business, it is unlikely that any moves will be made until after the conclusion of unbundling process on November 26. 

Decision soon on new Zambian treatment plant

     1st November 2001 Canadian miner First Quantum is moving rapidly towards a decision to expand its treatment facilities at Zambia’s Bwana Mkubwa mine to 30 000 tons of copper cathode a year. 

Gems-for-arms trade under attack

     1st November 2001 Delegates at a three-day conference on ‘blood diamonds’ in Angola will seek a plan to block the trade in conflict gems that has thrived despite United Nations (UN) sanctions, the Angolan government said. 

Hedging bites into gold leader’s profits

     1st November 2001 The world’s largest gold-miner, AngloGold, said a R235-million loss on hedging activities trimmed net profits in a third quarter buoyed by higher gold output and lower costs. 

Iron-ore deal is trade compliant – Erwin

By: Terence Creamer     31st October 2001 Trade and Industry Minister Alec Erwin has strongly defended as trade-rule compliant a recently-announced deal through which South Africa’s largest steel company, Iscor, has secured an undivided 6,25-million tons a year of iron-ore from its associate Kumba Resources. 

Algeria issues new gold tender

     31st October 2001 The Algerian mining industry issued a tender for the exploration and development of a gold deposit in the area of Tiririne Hanane. 

Ghana’s gold giant reports mixed results

     31st October 2001 African gold-miner Ashanti Goldfields reported a near-doubling of third- quarter profit but the result, flattered by lower financing charges, masked falling production and rising costs. 

SA's gold No.2 disappoints

     31st October 2001 South Africa’s Gold Fields announced disappointing first-quarter earnings, but forecast ‘significantly higher’ results in the next quarter if the rand-denominated gold price stays high. 

Guinea hydrocarbon management-contract awarded

     30th October 2001 A five-year hydrocarbon management contract with the Jean Gobele project in Guinea has been awarded to the Shell NEWC (North, East, West and Central) African Mining Team. 

Gold-panning championship to be held in SA

     30th October 2001 South Africa has won its bid to host the 2005 World Gold-panning Championships – and will be the first country in Africa to do so. 

Concentrate deficit to soften copper-treatment costs

     30th October 2001 Copper treatment and refining charges are likely to fall in the near term as the concentrate market enters a temporary deficit, said Tony Warwick-Ching, principal consultant: copper at CRU International. 

R8bn affirmative procurement push

     30th October 2001 Mining giant Anglo American is set to spend R1,2-billion by year-end on the procurement of services from small and medium enterprises (SMEs) in the empowerment area, an improvement on the recorded R1,046- billion it spent in 2000, reports Nick van Rensburg, manager of Anglo's enterprise... 

Miner opposes sympathy strikes

     30th October 2001 Diversified miner BHP Billiton on Monday appealed against a court order which would allow workers at its South African aluminium and manganese units to join strikers at its ferrochrome plants. 

Canadian miner to buy five SA gold mines

     30th October 2001 Canada’s Thistle Mining said it would buy three companies which own and operate five gold-mines in South Africa from President Steyn Gold Mines. 

SA’s newest mining house has big empowerment plans

By: Terence Creamer     29th October 2001 Fledgling mining house, Kumba Resources, is planning to pursue a range of black economic empowerment (BEE) initiatives in an effort to consolidate its position as the largest South African-domiciled diversified mining company when it is listed on the JSE Securities Exchange at the end of next month. 

Gem mining vessels in sea trials

     29th October 2001 The MV Namakwa, Trans Hex’s newest deep-water diamond-mining vessel, has left Cape Town for sea trials prior to her deployment in Namibian waters. 

Indian platinum jewellery demand surging

     29th October 2001 Demand for platinum jewellery in India, the world’s largest consumer of gold, is likely to vault to some six tons in the next five years compared with a few kilograms currently, Platinum Guild International (PGI) said. 

Talks progress on continuous-mining system for Free State

     29th October 2001 The development of a continuous-mining system by President Steyn Gold and Brandrill has now reached the stage where steps are being taken to facilitate commercial implementation. 

New F State vision: mielies, gold and now jewellery

     26th October 2001 After suffering a setback earlier this year with the closure of Via D'oro, the Free State jewellery cluster is again launching a concerted effort to become a jewellery-manufacturing force. 

Russian palladium giant in no rush to re-enter spot market

     26th October 2001 The world’s main supplier of palladium, Russia’s Norilsk Nickel, said it saw no reason to return soon to the spot market in the metal where prices are now weak. 

Rise in production from mining giant after acquisitions

     26th October 2001 Mining giant Rio Tinto said coal and iron-ore output rose in the third quarter ending September 30, after spending $4-billion on takeovers. 

Free State mine sale imminent

     26th October 2001 World number one gold producer AngloGold said a decision on the sale of its Free State mines would be made soon, but the company declined to give a timetable. 

No sympathy strike yet at aluminium plants

     26th October 2001 Mining company BHP Billiton said a threatened sympathy strike on Thursday by the National Union of Metalworkers of South Africa (Numsa) at its aluminium smelters and two manganese units had not started. 

Russia to scrap gold export tariff

     25th October 2001 Russia will abolish a 5% export tariff on gold from January 1, 2002, a spokesperson for the head of the government commission for protective measures on foreign trade said. 

Chamber plans new onslaught on minerals Bill

By: Terence Creamer     25th October 2001 Chamber of Mines president Rick Menell has revealed that the mining industry is happy with about 80% of the content of the latest draft of the controversial Minerals Development Bill, but still has some serious reservations about the remaining 20%. 

Harmony will not change its tune on Free State bid

     25th October 2001 South Africa's third-largest gold producer, Harmony Gold CEO Bernard Swanepoel has asserted that his company together with partner African Rainbow Minerals (ARM) has made a mainly cash offer for all of AngloGold’s assets in the Free State and would not increase this. 

Sales from Target rise to 841 kg for quarter

     25th October 2001 South African gold producer Avgold reported a loss for its first quarter to September after suffering a R7,3-million foreign exchange loss on borrowings for its Target gold-mine. 

Norilsk breaks out of Russian lease area

     24th October 2001 Norilsk, the Russian nickel-mining corporation, is taking its first step out of the home territories of the former Soviet Union with its participation in the Nakety nickel project in New Caledonia, reports Industrial Information Resources. 

Kudos for mine-to-mill technique

     24th October 2001 A mining and mineral-processing technique developed at the University of Queensland’s Julius Kruttschnitt Mineral Research Centre (JKMRC) has been awarded the 2001 Australasian Institute of Mining and Metallurgy (AusIMM) mineral industry operating technique award. 

Sustainable mining initiative intensifies

     24th October 2001 The Southern African region of the global Mining, Minerals and Sustainable Development (MMSD) programme is calling for comment on its regional report on sustainable development before October 26. 

Date set for steel-mining unbundling

     24th October 2001 Steel and mining company Iscor announced that all the agreements in respect of its pending unbundling have been concluded and that it will formally list its demerged mining operations, Kumba Resources, on November 26. 

Good response to golden top up

     23rd October 2001 AngloGold, has received a good response from Australian retail brokers to the top-up facility announced with the release of AngloGold’s takeover documents on October 17. 

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