R/€ = 15.60 Change: 0.00
R/$ = 13.69 Change: 0.00
Au 1292.43 $/oz Change: 2.14
Pt 805.58 $/oz Change: 3.43

Latest News

Junior in Copperbelt talks

4th September 2001 North American junior Caledonia has entered discussions with a number of mining companies for possible joint venture developments of the Konkola West licence area of the Zambian Copperbelt. 

SA mining industry happy with DRC mining code

By: Terence Creamer     4th September 2001 South African mining companies met on Friday to study and respond to the proposed new mining code that is being developed by the Democratic Republic of the Congo (DRC), and which could be brought into law by the end of the year. 

Enviro-friendly miners receive better returns

3rd September 2001 Top environmental performers in the annual survey of the global metals and mining industry posted accumulated returns over 60% higher than environmental laggards over a three-year period, and 10% higher returns over one year according to Innovest Strategic Value Advisors of New York. 

Zambian precious metals frim up for sale

3rd September 2001 Management consultant Deloitte & Touche said it was seeking bids for Zambia’s precious- metals processor Minerva Zambia and Kawambwa Tea Company, both owned by the Binani Group. 

Why Sexwale is talking plainum with the Russians

By: Martin Creamer     3rd September 2001 The former Gauteng premier, whose Mvelaphanda has a 22,5% interest in South Africa's fourth-largest platinum company, tells Mining Weekly that he has held informal platinum discussions with the Russians – and intends holding more. 

How a R14m loss turned into a R59m profit

31st August 2001 The 42-year-old Neal John Froneman has again worked his magic, turning a R14-million loss at Harmony Gold Mining's latest Elandskraal acquisition, in the Witwatersrand Basin, Gauteng, into a R59,2-million profit in three months – a 520% turnaround. 

Messina PGM ahead of schedule

31st August 2001 Canadian resources company Southern Era has noted approval of R345-million debt financing for the Messina platinum group metals (PGM) project in South Africa as a key highlight of its second quarter. 

SA multi-commodity group eyes R500m PGM prospect

31st August 2001 South Africa’s Anglovaal Mining has reported lower earnings for the year ended June 30, 2001, due mainly to the absence of royalty income from a diamond joint venture that was sold last year. 

Canadian palladium miner eyes SA

30th August 2001 A 57% plunge in the price of palladium in six months has done little to dampen the enthusiasm of Keith Minty, the chief executive of North American Palladium, for precious metals used to keep the air clean. 

Police in Sierra Leone swoop on ‘blood diamonds”

30th August 2001 Sierra Leone’s police have unleashed a major operation to seize illegal ‘blood diamonds’ and stop rampant smuggling of the stones that have helped fuel a decade of war, they said on Tuesday. 

Two die after Free State mine rockburst

30th August 2001 Gold-miner AngloGold has reported that two employees died and another was seriously injured following a seismic event underground at the company’s Bambanani mine. 

SA gold leader refutes human-rights abuse claim

30th August 2001 The world’s largest gold producer, AngloGold, has denied reports that it has not compensated small-scale farmers in the Geita district for land – these farmers are now facing hunger and malnutrition. 

Black group increases its gem stake

30th August 2001 Leading black resources firm Mvelaphanda Diamonds (Mvela) will increase its stake in alluvial diamond miner Trans Hex group (Trans Hex) to an eventual 24,5% following the acquisition of 16-million convertible debentures to be issued by Trans Hex and an option on a further five-million ordinary... 

Lonmin walks away from Ashanti deal

29th August 2001 South African platinum miner Lonmin has ruled out a merger with Ashanti Goldfields, but said it was in no hurry to sell its 32% stake in the gold-miner. 

DRC mining opportunities to be explored

29th August 2001 The image of the Democratic Republic of Congo (DRC) as the mining industry's 'Paradise Lost' becomes more of a reality tomorrow at a conference to be hosted by DRC President Joseph Kabila. 

Miners strike blow for anti-privitisation cause

29th August 2001 Some 300 000 members of the National Union of Mineworkers (NUM) will join and participate in the two-day anti-privatisation strike called by the Congress of South African Trade Unions (Cosatu). 

Big project push continues at manganese, chrome producer

29th August 2001 Mining firm Associated Manganese Mines of South Africa has posted an 82,4% increase in earnings for the year ended June 30, 2001, at R231-million compared to R127-million reported in the previous year. 

New off-the-shelf technology wanted

28th August 2001 The world's largest gold producer, Anglogold, has renewed its commitment to invest in continuous research-and-development programmes to realise its quest for operational excellence. 

Mining industry divided on use of Aids drugs

28th August 2001 South African companies are offering treatment packages to their employees as an incentive to break the barriers of denial that surround HIV and Aids in the country with the world's highest number of sufferers. 

SA gem miner in Angola talks

28th August 2001 Speculation is rife that black empowerment firm Mvelaphanda Holdings will be holding discussions this week with resource giant Rio Tinto regarding a diamond deal in Angola which could produce immediate benefits for the South African firm. 

Namibian gem miner claims its recovery is on track

27th August 2001 Diamond-miner Namibian Minerals Corporation (Namco) has reported progress in stabilising the company following the NamSSol accident and the provisional liquidation of certain subsidiaries in the first quarter, with second quarter results reflecting the disruption in operations as a result of... 

Zambian copper miner has tough year

27th August 2001 During the six-month period to June 30, 2001, Anglo American subsidiary Zambia Copper Investments (ZCI) incurred a consolidated net loss of $38,2-million, due to low copper and cobalt prices and operational difficulties at ZCI’s operating subsidiary, Konkola Copper Mines (KCM). 

Gauteng's mining heritage is fading away

24th August 2001 Johannesburg's – and Gauteng's – rich mining and minerals heritage is being lost through neglect 

Zambia copper-gold deal signed

23rd August 2001 Canadian mining firm First Quantum Minerals has signed a definitive purchase and sale agreement with Cyprus Amax Minerals Company, a wholly-owned subsidiary of Phelps Dodge Corporation, for the acquisition of Phelps Dodge's entitlement to an 80% beneficial interest in the Kansanshi copper-gold... 

Deal brings W Africa zinc-mine one step closer

23rd August 2001 Mid-tier mining company Metorex has announced that the Burkina Faso government has agreed to the broad terms of a memorandum of understanding as requested by the firm – the agreement relates to the possible development of a zinc-mine. 

Platinum empowerment: even the tea lady will benefit

22nd August 2001 Black economic empowerment of the rich new platinum-mine Maandagshoek will mean that even the tea lady will benefit from bonuses. 

Eternal gold bull unloads its hedges

22nd August 2001 The closure of 230 000 oz of hedging positions by South African gold producer Harmony once again emphasised the company’s commitment to remaining as unhedged as possible so that it can take immediate advantage of any rise in the bullion price. 

North American metals distributors unite

22nd August 2001 Resources giants BHP Billiton and Alcoa have announced a merger of their North American metals-distribution businesses – Alcoa’s North American metals distribution business, Reynolds Aluminum Supply Company (Rasco), and BHP Billiton's Vincent Metals Goods in the US and Atlas Ideal... 

Coal-boosted BHP Billiton accelerates oil and gas

21st August 2001 Old King Coal has proved a merry soul for the newly-merged South African-linked BHP Billiton – but it’ll be its entire energy capability including oil and gas which will be made to accelerate going forward. Even the new logo is oily. 

Second JV furnace switched on

20th August 2001 The second new furnace at the Wonderkop ferrochrome plant in South Africa, a joint venture between Xstrata and Samancor, a subsidiary of BHP Billiton, has been switched on. 

US gold-miners eagerly await legislative changes

20th August 2001 The US state of Nevada's gold-mining industry is eagerly awaiting the White House's expected rollback of most Clinton-era regulations governing mining on public lands. 

Big socio-economic plan emerging to secure jobs for miners

17th August 2001 South African mining has, in the past two years, been contemplating several proposed changes to the way it conducts its business. 

New heavy-minerals smelter for KZN

17th August 2001 Go-ahead for the construction of a R1-billion smelter associated with the R2-billion IHM mineral sands project being built in Kwazulu-Natal has been received following an agreement between Kumba Resources and Australian-based Ticor. 

Can Kearney help with Stillwater turnaround?

16th August 2001 Former Impala Platinum (Implats) CEO Steve Kearney was, last month, installed as a director of the board of mining company Stillwater – a move which some believe will significantly strengthen America’s only platinum producer. 

New Tanzanian gold-mine on cards

16th August 2001 Australian-based Lion Selection group has reported that East African Gold Mines (EAGM) has been given the go-ahead for a significant new gold-mine in Tanzania. 

Ghana urged to find new mining-society framework

16th August 2001 The Ghanaian government is being urged to develop a policy framework that maximises the economic benefits of mining for the State and local communities. 

Kabila moves to stamp out mining graft

15th August 2001 Democratic Republic of Congo (DRC) President Joseph Kabila has suspended top executives of all public-sector firms, including mining giant Gecamines, after an audit revealed gross mismanagement, the government has reported. 

Gold shrugs off global slowdown

14th August 2001 Gold demand held up in the first half of the year despite the global economic slowdown, the World Gold Council has reported. 

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