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Latest News

Jonah appointed chair of Sierra Rutile

23rd September 2003 West African rutile giant Sierra Rutile announced yesterday that Sam Esson Jonah has been elected chairperson of the company's board of directors. 

4 500 jobs to be shed at DRD’s North West Ops

By: Martin Czernowalow     23rd September 2003 South African marginal gold producer Durban Roodepoort Deep (DRD) confirmed yesterday that 4 504 jobs at its North West Operations would be shed. 

Comex gold surges on G7 flexible currencies call

23rd September 2003 Comex gold ended Monday near the top of a new higher trading zone as dealers said they were responding to a Group of Seven communique calling for flexible exchange rates as a concerted effort to weaken the dollar. 

New industrial demand could help palladium recovery

By: nkolola halwindi     22nd September 2003 The South African platinum-mining industry is in the midst of a flamboyant growth phase with massive expansions planned to meet increasing world demand for the precious metal. 

Gold price could exceed $400/oz in 2003 - GFMS

22nd September 2003 In its Gold Survey 2003 – Update 1, released last week, Gold Fields Mineral Services (GFMS) forecast that gold prices could well post a high in the mid-$390s and possibly breach the $400 mark before the year is out. 

New York to host inaugural diamond conference

22nd September 2003 The inaugural Rapaport International Diamond Conference will be held at the New York Palace Hotel on October 20 and will cover all aspects of the diamond industry, from rough to retail. 

New PGM exploration campaign for Madagascar

22nd September 2003 AIM-quoted exploration company Jubilee Platinum plans to initiate a new phase of exploration on its concession in the Londokamanana area of Madagascar, some 160km north west of the capital Antananarivo. 

NUM mulls over DRD’s proposal to save 1 550 jobs

By: Martin Czernowalow     22nd September 2003 The National Union of Mineworkers (NUM) said it would consider gold producer Durban Roodepoort Deep’s (DRD) proposals to save 1 550 jobs at the company’s North West Operations, but added that it would not “jump into anything”. 

New gold-backed securities on menu at Denver forum

22nd September 2003 With share prices of gold mining companies soaring, the industry is backing a range of innovative gold investments to keep capital flowing into the hottest market in decades. 

E-procurement to bring efficiency to BEE procurement

19th September 2003 The Department of Minerals and Energy says in its Minerals Bulletin this month that e-procurement will bring efficiency to preferential procurement in the mining industry. 

DFI to resume mining off Namibian coast

19th September 2003 Canada’s Diamond Fields International (DFI) has announced that its mining vessel, mv Anya, has departed from Cape Town on September 16 to resume mining operations in the Marshall Fork deposit, offshore Luderitz, in Namibia. 

PTM’s Bushveld exploration yields encouraging results

19th September 2003 Canadian company Platinum Group Metals (PTM) has announced that early exploration work at its Tweespalk property, on the northern limb of the Bushveld Complex, in South Africa, has been encouraging. 

Barry Davison joins Kumba board

19th September 2003 South Africa's biggest iron-ore producer, Kumba Resources, said this week that Barry Davison, chairperson of platinum giant Anglo American Platinum (Angloplat), had joined its board. 

Mining fund backs Namakwa’s BEE project

19th September 2003 Australian mining firm Namakwa Diamond Company has announced that South Africa’s New Africa Mining Fund (NAMF) yesterday approved a series of transactions between it, Namakwa and Zaico, which will result in development funding and benefits totalling A$7-million for the Namakwa diamond... 

Mincor upgrades Reko Diq copper reserves

By: Martin Czernowalow     19th September 2003 Australian-listed Mincor Resources has reinforced the world-class status of the Reko Diq copper-gold project in Pakistan, with latest drill results confirming the discovery of two major new porphyry complexes. 

Kenya seeks higher compensation from Tiomin

19th September 2003 Kenya is seeking higher compensation for farmers for land bought by Canadian firm Tiomin for atitanium mine it plans to open on the Indian Ocean coast, the environment minister said yesterday. 

Sallies outlines plan for return to profitability

By: Martin Czernowalow     19th September 2003 Fluorspar miner Sallies yesterday said it was determined to return to profitability in 12 months, which it plans to achieve through the expansion of its milling capacity, insourcing its mining activities and increasing its production by 50%. 

Implats sells Lonplats stake for $800m

19th September 2003 The world's second-biggest platinum producer, Implats, unveiled plans yesterday to sell its stake in the platinum activities of Britain's Lonmin for $800-million to comply with South Africa's black empowerment laws. 

Gold Fields sells mining block to AngloGold for R315m

19th September 2003 South African gold-miners Gold Fields and AngloGold announced yesterday that agreement had been reached on the sale of a portion of the Driefontein mining area, from Gold Fields to AngloGold, for a cash consideration of R315-million. 

DRD says door open to save another 1 650 jobs

19th September 2003 With just three days to go until the expiry of the 60-day review at its North West Operations (NWO), marginal gold-producer Durban Roodepoort Deep (DRD) said today that the “door was still open” to save another 1 650 jobs. 

Codelco calls for continued World Bank mining support

18th September 2003 Chile's state-run Codelco, the world's biggest copper company, said on Tuesday that growth at small and medium-sized mining companies would stagnate if the World Bank decides to stop financing their projects to avoid criticism from environmentalists. 

Bwana Mkubwa expected to meet targets

18th September 2003 Zambia's Bwana Mkubwa mine will meet its 2003 production target 28 700 t of copper by raising production in the last quarter of the year, the mine's owners said on Tuesday. 

DRD willing to discuss NUM’s North West proposals

18th September 2003 South African marginal gold-miner Durban Roodepoort Deep (DRD) – 56 days into a 60-day review of its North West operations to prevent closure – has indicated its willingness to discuss the National Union of Mineworkers’ (NUM) proposals for self-directed work teams and... 

Anglo American to launch bond issue

18th September 2003 Global mining giant Anglo American said yesterday it planned to launch a sterling bond issue, just four months after it raised $1,12-billion to refinance existing debt. 

SA coal unit’s earnings hit by rand, prospects better

18th September 2003 International resources group Xstrata said the financial performance of its South African coal unit, Xstrata Coal South Africa (XCSA), reflected the weaker demand in the Atlantic market and lower export prices for the six months to June 30, compared to the same period last year. 

Xstrata’s H1 profits beat forecasts

18th September 2003 London-listed miner Xstrata reported a smaller-than-expected drop in half-year profits yesterday and said rising commodity prices put it on course for a healthier 2004, despite some tough months ahead. 

Miner sells 20% stake in Oz coal business

18th September 2003 International natural resources company Xstrata announced that agreement has been concluded to sell, as a package, a 20% interest in the Newlands, Collinsville, Abbot Point (NCA) joint venture, a 20% interest in the Oaky Creek Coal (OCC) joint venture and a 25% interest in four Xstrata Coal... 

Kumba is a core IDC asset - Ngqula

By: Terence Creamer     18th September 2003 State-owned development financier the Industrial Development Corporation (IDC) insisted yesterday that it viewed its 14% stake in diversified miner Kumba Resources as a core investment and that it would not be selling any of its shares at this stage. 

Mining Royalty Bill delayed till next year

18th September 2003 The proposed draft Minerals and Petroleum Royalties Bill will not be introduced in Parliament this year, Finance Minister Trevor Manuel announced yesterday. 

Samancor on track with Metalloys plant repair

17th September 2003 South Africa's major ferro-alloys producer Samancor said yesterday it was on schedule to reopen its Metalloys silicomanganese plant this month. 

Gold regains top export-earning spot in 2002

17th September 2003 The South African gold industry regained its top export-earning spot from the platinum sector in 2002, a newly-released report shows. 

Minerals processing expo attracts leading firms

17th September 2003 Product innovation and leading-edge technology are set to be showcased at Cape Town’s Mining & Mineral Processing Expo 2003, which will take place between September 29 and October 2. 

Results from Ghana gold drill released

17th September 2003 Canadian exploration company PMI Ventures has released details from its second drill programme on a package of exploration concessions making up the Ashanti II Gold Project, located along a 50 km length of the axis of the Asankrangwa Gold Belt in southwestern Ghana. 

Gem explorer pursues Sierra Leone prospect

17th September 2003 Canadian diamond miner and explorer Diamond Fields International (DFI) has announced that results from exploration activities in Sierra Leone support the possibility of local kimberlite occurrences. 

DBSA backs mining fund

17th September 2003 The Development Bank of Southern Africa approved a contribution of R100-million, in November last year, to the New Africa Mining Fund, which aims to create employment opportunities within the South African mining industry through the funding of junior mining operations. 

Mine law uncertainty leading to project inertia

By: Martin Czernowalow     17th September 2003 Delays in finalising the mining royalty regime, as well as uncertainty arsing from other legal and policy changes in the sector, are leading to what some commentators have described as ‘project inertia’ – which is having a particularly negative effect on the domestic civil... 

Mintek receives ISO 14001 certification

17th September 2003 State-owned mineral and metallurgical agency Mintek announced yesterday that its environmental management system has met the requirements for certification according to the ISO 14001 standard. 

Zambia signs agreement to open closed copper mine

16th September 2003 Zambia and Swiss mining firm J&W Investments Group have signed an agreement paving way for the reopening of the Roan Antelope Mining Corporation (Ramcoz) copper and cobalt mine, a senior government official said yesterday. 

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