https://www.miningweekly.com
R/€ = 19.17 Change: -0.08
R/$ = 17.05 Change: -0.06
Au 1775.18 $/oz Change: 6.38
Pt 812.26 $/oz Change: -14.12
 

Africa News

Impact says large uranium area identified at Botswana prospect

By: Esmarie Iannucci     18th November 2009 ASX-listed uranium gold and nickel explorer Impact Minerals has reported that a soil geochemistry programme at its Lekobolo uranium prospect, in Botswana, has defined a large area of up to 16 km long and 7 km wide that contained elevated uranium-in-soil values. Within this 110 km2 area of... 

UraniumSA plans to start production by end-2011

By: Esmarie Iannucci     18th November 2009 Emerging uranium developer UraniumSA on Wednesday reported that it has set an objective to produce maiden ore by end of 2011, from one of the South Australia’s most recent uranium discoveries. The ASX-listed company stated that it anticipated starting the 12-month regulatory process to approve... 

Metorex says Ruashi output improving, shares up 

By: Chanel de Bruyn     18th November 2009 Output at the Ruashi mine, in the Democratic Republic of Congo, would rise to about 3 000 t/m of copper cathode and 330 t/m of contained cobalt by the 2011 financial year, base-metals-miner Metorex reported on Wednesday. A detailed two-year mining schedule for the mine had been completed, with... 

Petra may increase stake in Cullinan mine to 74%

By: Mariaan Webb     18th November 2009 London-listed Petra Diamonds confirmed on Wednesday that it plans to undertake an equity fundraising and said it had entered into an option agreement that would double its stake in South Africa's Cullinan mine to 74%. The fundraising, led by Canaccord Adams and RBC Capital Markets, would be... 

First Uranium still looking at bank finance, 'other alternatives' 

By: Liezel Hill     18th November 2009 Gold and uranium producer First Uranium believes it has secured the funds needed for capital spending at its South African operations over the next nine months, but continues to look at other financing options just in case it turns out to need them, CEO Gordon Miller indicated on Tuesday. These... 

SA must renew commitment to integrated coal policy

By: Christy van der Merwe     17th November 2009 There was a "huge need" for an integrated coal policy in South Africa, speakers agreed at a Fossil Fuel Foundation conference on Tuesday. University of Cape Town professor Anton Eberhard explained that a clear policy could lead to a more joined up investment strategy. He added that one of the... 

African Copper focuses on increasing Mowana’s volumes – CEO

By: Esmarie Iannucci     17th November 2009 Aim-listed African Copper has mined 45 095 t of direct-feed ore at the Mowana mine, in Botswana, in August and September, followed by 41 702 t of ore in October, the company reported on Tuesday. African Copper, which restarted the Mowana mine in August with the mobilisation of a new mining... 

SA union seeks interdict against DRDGold

By: Esmarie Iannucci     17th November 2009 South African trade union Solidarity has lodged an application with the Labour Court for an urgent interdict against JSE-listed gold producer DRDGold. This came after the gold miner refused several applications by Solidarity to be involved in the Section 189 process at the group’s... 

SA’s quarter-on-quarter gold output rises 5%

By: Creamer Media Reporter      17th November 2009 South Africa’s gold production rose nearly 5% to 54 110 kg in the third quarter of the year, compared with 51 634 kg in the previous quarter, the Chamber of Mines (CoM) reported on Tuesday. It added, however, that gold production in the quarter ended September 30, 2009, was down 2,9%, compared... 

Johnson Matthey bullish on platinum, palladium, sees deficits  

By: Martin Creamer     17th November 2009 Platinum researcher Johnson Matthey on Tuesday presented a bullish outlook for both platinum and palladium and spoke of deficits being on the way in both metals. Johnson Matthey precious metals marketing director Mark Bedford told Mining Weekly Online that both the autocatalyst and industrial... 

Shareholders approve Basil Read’s acquisition of TWP

By: Esmarie Iannucci     17th November 2009 Construction firm Basil Read and project house TWP had received the majority shareholder approval from both sets of shareholders for the proposed acquisition of TWP by Basil Read, the companies announced on Tuesday. TWP CEO Nigel Townsend said in an interview with Mining Weekly Online that the... 

Extract seeks partner for Namibia uranium project

By: Esmarie Iannucci     17th November 2009 Namibia-focused explorer Extract Resources is looking for strategic partners for the development of its Rossing South uranium project in Namibia and said on Thursday that interested parties had to submit proposals for partnerships. These proposals should include the outlining of the basics of... 

Central Rand Gold targets commercial production early 2010

By: Esmarie Iannucci     17th November 2009 JSE-listed Central Rand Gold (CRG) CEO Johan du Toit on Tuesday said that the company was making steady progress on a number of fronts, from the pouring of gold on site, improving recoveries from the metallurgical process, through to ramping up the underground development in advance of commercial... 

SA coal industry urged to develop emission mitigation strategy 

By: Christy van der Merwe     17th November 2009 Role players in the South African coal sector should work together to form an industry greenhouse gas (GHG) emission mitigation strategy, as this would be a more cost effective approach, said Imbewu sustainability legal specialists associate Marie Parramon. Speaking at the Fossil Fuel... 

DiamondCorp provides Botswana drilling update

By: Esmarie Iannucci     17th November 2009 London and Johannesburg-listed DiamondCorp on Tuesday reported that it had completed the first diamond drill hole on the J1 kimberlite target at the Jwaneng South project area, in Botswana. The drill hole, completed to a vertical depth of 340,02 m, intersected kimberlite from 17 m vertically... 

Anooraq to produce 270 000 oz/y by 2014

By: Esmarie Iannucci     17th November 2009 Platinum junior Anooraq Resources’ growth projects were on track to deliver 270 000 platinum group metal (PGM) ounces by 2014, president and CEO Philip Kotze said this week. Kotze said that the size and scale of the recently acquired Bokoni orebody, along with its attractive grades and... 

Uranium too low to incentivise new mines – Uranium One  

By: Liezel Hill     17th November 2009 Uranium prices will still need to firm significantly to justify the development of many of the mining projects being considered around the world, Jean Nortier, the CEO of Uranium One, reiterated on Monday. Nortier said he believes the market is underestimating the volume of uranium that will be... 

Red Back boosts Tasiast resource again

By: Liezel Hill     16th November 2009 Vancouver-based Red Back Mining has announced another increase in the mineral resources at its Tasiast gold mine, in Mauritania, this time by 20%. The measured and indicated resource at Tasiast has grown by around 890 000 oz, to 5,37-million ounces, at cut-off grades of 0,2 g/t for oxide and 0,5... 

Lonmin shares rise as worst seems over for platinum miner 

By: Martin Creamer     16th November 2009 The shares of Lonmin rose 7% in Johannesburg and London as the market perceived the worst to be over for the right-sizing platinum miner, whose promised actions were largely on track. "We announced 700 000 oz and produced 683 000 oz. We were a tad below, but all the other measures – of... 

Barloworld sees mining-led sales recovery in second half of 2010 

By: Terence Creamer     16th November 2009 Diversified industrial group Barloworld, which reported a 25% drop in operating profit to R1,9-billion for the year to September 30, 2009, said on Monday that it expected 2010 to be "another challenging year". Group revenue declined by 10% to R42,2-billion from over R46-billion in 2008, despite... 

SACMH says restructuring process continuing, shares still suspended

By: Esmarie Iannucci     16th November 2009 Junior coal company South African Coal Mining Holdings (SACMH) on Monday advised shareholders that the company’s shares were still suspended on the JSE as a result of its restructuring process. SACMH said in a statement that efforts to find an equity partner or sell off some of the company’s... 

Vulisango wants Swanepoel to chair new Simmers board

By: Martin Creamer     16th November 2009 Disgruntled Simmer & Jack empowerment partner Vulisango on Monday proposed that a new Simmers board be put in place at an extraordinary general meeting (EGM) of the junior gold company. Vulisango proposed that former Harmony Gold CEO Bernard Swanepoel be appointed as nonexecutive chairperson,... 

Titanium Resources says Sierra Leone risk has fallen

By: Reuters     16th November 2009 Titanium Resources Group said investors were less concerned than a few years ago about investing money in Sierra Leone, after the mining firm moved to issue new shares to boost output in the West African country. The company said on Monday it conditionally placed 151-million shares to raise... 

Harmony investigating alternatives to retrenchments – Van der Walt

By: Esmarie Iannucci     16th November 2009 South African gold producer Harmony believes that the National Union of Mineworkers’ (NUM’s) decision to seek legal advice around possible retrenchment of 2 100 workers at some of the gold miner’s operations, was premature. Harmony Gold spokesperson Marian van der Walt said in an interview with... 

Wesizwe appoints new nonexec director

By: Esmarie Iannucci     16th November 2009 JSE-listed platinum producer Wesizwe Platinum has appointed Dr MH Mathe as a nonexecutive director to the board, with immediate effect. Mathe would provide the board with an additional independent nonexecutive, with complementary expertise to the existing members, Wesizwe said in a statement on... 

Uranium One gets Kazakh approval for Karatau acquisition

By: Esmarie Iannucci     16th November 2009 The Kazakh Ministry of Energy and Mineral Resources (MEMR) has approved TSX- and JSE-listed Uranium One’s acquisition of a 50% joint-venture (JV) interest in the Karatu uranium mine, from State-owned JSC Atomredmetzoloto (ARMZ). The company said on Monday that the approval also included a waiver... 

First Uranium hopes to finalise Eskom supply deal next month 

By: Esmarie Iannucci     16th November 2009 TSX- and JSE-listed First Uranium expects to finalise a deal to supply uranium to South Africa’s Koeberg nuclear power station by the end of December, the company said on Monday. First Uranium, which owns the Ezulwini mine and the Mine Waste Solutions (MWS) tailings recovery operation in South... 

Lonmin revenues slump 50%, no dividend for second year

By: Martin Creamer     16th November 2009 Platinum miner Lonmin's revenue slumped 50%-plus in the year to September 30 and the company decided not to declare a final dividend for the second year in a row. The flagship Marikana platinum mine in Rustenburg came in 2% below guidance. Looking forward, the London- and JSE-listed Lonmin... 

Former Barrick exec joins Anglo board

By: Mariaan Webb     16th November 2009 Diversified miner Anglo American has appointed former Barrick Gold executive Jack Thompson as a nonexecutive board member. The appointment of Thompson, who was vice-chairperson of the world's largest gold producer between 2001 and 2005, would be effective immediately, Anglo American said in a... 

Alliance rejects Eskom hike, as utility mulls lower tariff request

By: Terence Creamer     16th November 2009 South Africa's African National Congress- (ANC-) led tripartite alliance, which met over the weekend, came out in opposition to Eskom's proposed electricity tariff increases of 45% a year for the three year period between April 1, 2010, and March 31, 2013. This is a material departure from the... 

Uranium One revenue falls 62% on lower volumes, prices

By: Liezel Hill     13th November 2009 Vancouver-based Uranium One lost $11,9-million in the third quarter, compared with a $2-billion loss a year earlier, when the firm recorded a massive writedown mainly related to its Dominion project, in South Africa, but also on assets in the US and Australia. After stripping out certain items,... 

Anglo says Phaswana to step down

By: Esmarie Iannucci     13th November 2009 Diversified miner Anglo American on Friday announced that Fred Phaswana would step down as nonexecutive director, after he had been appointed new chairperson of South Africa’s Standard Bank Group. Phaswana would serve on the Anglo American board until January 1, 2010.  

Implats' Q1 production up, sees lower FY output at main mine

By: Esmarie Iannucci     13th November 2009 JSE-listed platinum-miner Impala Platinum (Implats) lifted its first-quarter output by 6% to 413 000 oz, the group said on Friday, but warned that full-year production from its flagship Impala lease area could fall by as much as 100 000 oz. The company attributed the group's improved September... 

Firestone to apply for Botswana mining lease by year-end

By: Chanel de Bruyn     13th November 2009 The high-grade areas identified at Aim-listed Firestone Diamonds’ BK11 project, in northern Botswana, could produce $20-million a year in revenues at operating margins in excess of 50%, the diamond exploration company said on Friday. It remained confident that the project could be brought into... 

SA courts now recognise illegal mining as organised crime  

By: Christy van der Merwe     13th November 2009 Since the first gold discovery on the Witwatersrand in 1886, the promise of gold has drawn fortune-seekers to the interior of South Africa. More recently, as individuals struggle to find legal employment, what is now being termed ‘criminal mining’ is on the increase, particularly in the Free... 

Godsell to be asked to reconsider Eskom resignation 

By: Terence Creamer     13th November 2009 Public Enterprises Minister Barbara Hogan would approach former Eskom chairperson Bobby Godsell over this weekend to ask him to "reconsider" his resignation, she told SAfm on Friday. Godsell stepped down on Monday November 9, 2009, citing a lack of support from the shareholder, both on the Eskom... 

Ongoing ferrochrome price rises expected in 2010 – IFM

By: Martin Creamer     13th November 2009 Increases in the price of ferrochrome are likely to be ongoing throughout 2010, says London-listed South African ferrochrome producer International Ferro Metals (IFM). IFM CEO David Kovarsky expects the upward trend to resume from the beginning of 2010, despite the downturn in demand in the... 

Illegal mining now recognised as organised crime by South African courts

By: Christy van der Merwe     13th November 2009 Since the first glinting discovery on the Witwatersrand in 1886, the promise of gold has drawn fortune-seekers to the interior of South Africa. More recently, as individuals struggle to find legal employment, what is now being termed ‘criminal mining’, is on the increase, particularly in the Free... 

Latest News

more

Latest Videos

more

Latest News: Australasia

more

Latest News: Americas

more

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Subscribe Now for $119
Free daily email newsletter Register Now