R/€ = 14.55 Change: 0.02
R/$ = 12.50 Change: 0.01
Au 1301.61 $/oz Change: -2.13
Pt 901.50 $/oz Change: -9.36

Latest News

Good results from W Coast gem sample

24th April 2003 Australian miner Namakwa Diamond Company has announced further sampling results from its current sampling programme at the Namakwa Diamond Project, on South Africa’s West Coast. 

R20m Mortimer concentrator contract awarded

24th April 2003 A R20-million turnkey project contract has been awarded to Metso Minerals Processing for Anglo Platinum’s Union Section Mine’s Mortimer Concentrator. 

Alexkor sale will not be compromised by Gounden's Bateman appointment - DPE

By: Martin Czernowalow     23rd April 2003 South Africa’s Department of Public Enterprises (DPE) has poured cold water on suggestions that a conflict of interest could arise in the sale of State gem miner Alexkor due to the appointment of Dr Sivi Gounden as CE of Bateman – the company's main shareholder is part of a consortium... 

Two SA platinum producers to expand refineries

By: Martin Czernowalow     23rd April 2003 Two of South Africa’s platinum producers are currently working on expansions and upgrades of their refineries, Mining Weekly Online can report. 

First Quantum revises 2003 output for Zambia mine

23rd April 2003 Canada's First Quantum Minerals said yesterday its Bwana Mkubwa copper mine in Zambia would reach full capacity in May, but the mine's 2003 output would be lower than expected. 

SouthernEra appoints new financial officer

23rd April 2003 Mid-tier Canadian miner SouthernEra Resources has announced the appointment of Mark Rosslee to the position of senior vice president and chief financial officer. 

De Beers Marine buys some Namco assets

23rd April 2003 De Beers Marine Namibia has acquired Namco Mark II Ltd's marine assets for $20-million, the diamond company said on Tuesday. 

Comex gold rises to three-week high before retreating

23rd April 2003 COMEX gold rose to a three-week high on Tuesday, piggybacking off a stronger euro and adding to its gain the previous day, before a rebounding US stock market took some steam out of the rally. 

Gold projects to stabilise SA's falling output

By: Martin Zhuwakinyu     18th April 2003 A new mantra has emerged at South Africa’s gold-mining houses. And it comprises just two words: organic growth. 

Study on new Zambian copper project by July

18th April 2003 A bankable feasibility study (BFS) for the Lumwana copper-cobalt project in north west Zambia is on schedule and on budget for completion in July 2003. 

Drilling starts on Ghana gold prospect

18th April 2003 Canada’s PMI Ventures has announced that drilling has begun on its Ashanti II Deep Gold project in Ghana, West Africa. 

Burkina Faso gold find announced

18th April 2003 Gold miner Orezone Resource reported positive drill results from its Burkina Faso gold property in West Africa this week, that could prompt it to increase estimates of the site's grades and total ounces. 

CVRD restructures logistics companies

18th April 2003 Brazil’s Companhia Vale do Rio Doce (CVRD), Companhia Siderurgica Nacional (CSN) and other non-listed companies have signed a contract for the purchase and sale of shares in logistics companies. 

Construction-fleet deal for Aussie gold mine

18th April 2003 Equipment manufacturing firm Sandvik Mining and Construction, through its subsidiary Sandvik Tamrock Australia, has signed an agreement with Barrick Gold Corporation covering delivery, service and support of complete fleet of equipment for its Plutonic gold mine in Australia. 

Output from Fiji gold mine rises

17th April 2003 Production from Fiji's only gold mine rose 14% to 30 206 oz in the third quarter versus the previous quarter, owner Emperor Mines said yesterday. 

Questions raised over latest two Avgold-linked deals

By: Martin Czernowalow     17th April 2003 Observers are struggling to understand why gold miner Avgold has been on the wrong end of two high-profile deals in the last week: the downward revision of the sale price of Eastern Transvaal Consolidated (ETC), as well as the sale of 90-million shares to foreign investors. 

Randgold Resources set to sell Syama

17th April 2003 South African miner Randgold Resources said it has entered into an option agreement with Resolute Mining, the Australian mining company, to dispose of its 80% interest in Soci 

Cameroon grants US miner permit on big cobalt deposit

17th April 2003 A unit of US-based mining company Geovic, Geovic Cameroon, has been granted a permit to develop what it believes to be the world's largest primary cobalt deposit in the southeast of the West African country. 

Placer begins work on Nevada mine

17th April 2003 Canadian miner Placer Dome announced yesterday that it is initiating the start-up of the Turquoise Ridge gold mine in Nevada, part of the Getchell property. 

Chinese zinc refiners protest low margins

17th April 2003 Dismal treatment charges are pressuring China's key zinc firms to trim output targets and limit imports of raw material this year, company officials and analysts said yesterday. 

Wankie secures $5,3m financing

17th April 2003 Zimbabwe’s sole coal producer, Wankie Colliery Company, has secured a $5,3-million facility from the African Export-Import Bank to purchase vital spare parts, McCloskey Coal News reports. 

Royalty bill will cost mine jobs - Chamber

17th April 2003 The draft mining royalties bill, as proposed by the National Treasury, could cost South Africa jobs, according to the Chamber of Mines. 

Plans for new Kimberley gem bourse by end of May

By: Terence Creamer     16th April 2003 The Northern Cape government is confident that South Africa’s second diamond bourse will be set up in Kimberley by the end of next month – at present only Johannesburg has such a bourse. 

Ample supply to keep aluminium in surplus

16th April 2003 Expansions to aluminium capacity in the next few years will keep the metal in significant supply surplus and prices weak as demand fails to match rising output, but analysts say this has not deterred producers from planning the next wave of projects. 

WMC Resources on track for profit target

16th April 2003 Australian miner WMC Resources said yesterday it was on track to achieve its 2003 production and profit forecasts despite a first-quarter slip in copper and nickel output. 

BHPB launches $850m global bond

16th April 2003 The world's largest diversified natural resources company, BHP Billiton, announced yesterday the successful launch of its 10-year global bond. 

Anglo to sell stake in Bindura

16th April 2003 Mining giant Anglo American announced the sale of its 52,9% stake in Bindura Nickel Corporation, to Mwana Africa Holdings, for a total consideration of $8-million, subject to obtaining the necessary regulatory approvals. 

Namdeb to proceed with Elizabeth Bay mine

16th April 2003 Namibian diamond miner Namdeb said yesterday it had approved a nearly R400-million ($52-million) project to boost the lifespan of its Elizabeth Bay mine near the Atlantic port of Luderitz by at least 10 years. 

Aflease pins hopes on growth, new leadership

By: Martin Czernowalow     15th April 2003 South African gold producer Afrikander Lease (Aflease) is optimistic that this year will produce stronger results than 2002, pinning its hopes on its expansion programme and a new board of directors. 

Canadian junior expands Bushveld holdings

15th April 2003 Canadian miner Platinum Group Metals (PTM) has announced the addition of 749 ha to its Onderstepoort property in the Western Bushveld Complex, in South Africa, through the successful completion of three additional property agreements. 

Increased losses at Zim colliery

15th April 2003 Zimbabwean coal producer Wankie Colliery reported an increase in its net loss for the year to December, McCloskey Coal News reports. 

Anglo may be planning new bond issue

15th April 2003 Mining heavyweight Anglo American said on Sunday it had recently established a $2-billion Euro medium-term note programme, but declined comment on a report it planned a €1-billion ($1,08-billion) bond. 

KZN titanium furnace produces first slag

15th April 2003 The first furnace of the jointly-owned Ticor South Africa smelter situated at Empangeni has achieved a commissioning milestone with its initial production of titanium slag, Kumba Resources and Ticor announced yesterday. 

Glencore seen as leading bid for Konkola

15th April 2003 Swiss trader Glencore International AG is leading four other bidders seeking to purchase a stake in Zambia's premier Konkola Copper Mines (KCM), industry sources said on Monday. 

Avmin places Avgold shares worth R585m

15th April 2003 South Africa's Anglovaal Mining (Avmin) said on Friday it had placed 90-million shares of its gold producer Avgold with international institutions to help to repay some of its $140-million debt. 

State will not be party to apartheid-reparations claims

15th April 2003 President Thabo Mbeki said government would not be party to any litigation and civil suits against companies that benefited from apartheid, adding that government would also not impose a once-off wealth tax on corporations, as proposed by the Truth and Reconciliation Commission (TRC), Sapa reports. 

The Royalty Bill and SA's competitiveness

14th April 2003 An open letter to Finance Minister Trevor Manual, questioning whether the proposed money bill will maintain SA's mining competitiveness. 

Platinum producers to jointly fund safety R&D

14th April 2003 Leading platinum producers, Anglo Platinum, Impala Platinum, Lonmin Platinum and Northam Platinum, together with the CSIR have announced two independent jointly-funded research ventures to address some of the South African platinum mining industry’s common technological challenges. 

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