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Gold News

Free State bidding war heats up

16th October 2001 A black-led South African mining consortium announced a bid for four AngloGold mines, setting the stage for a battle over key assets in the country’s mineral-rich Free State province. 

IT improves efficiencies at gold-recovery plant

12th October 2001 Industrial information technology (IT) and supply-chain solutions company Streamworks has concluded the implementation of an automation project at Ergo, a gold recovery plant of AngloGold. 

Eight-pronged W Rand gold renaissance

By: Martin Zhuwakinyu     12th October 2001 Marginal gold miner Durban Roodepoort Deep (DRD) has achieved its objective of reducing cash costs to around $220/oz, securing itself a place among the world’s least-cost producers. 

SA technology in Chinese gold plant

By: Laura Franz     12th October 2001 South African metals and minerals research council Mintek and its partner, BacTech Enviroment, of Canada, have successfully commissioned the Laizhou Gold Metallurgy Plant bioleaching facility in Shandong Province, in the People’s Republic of China. 

Struggle to preserve mining heritage

By: Keith Campbell     12th October 2001 The article summarises the history of attempts to create a gold mining museum in Johannesburg, dating back to 1936. 

Golden buyback completed

10th October 2001 Gold company, Randgold Resources announced yesterday that it had completed the buyback of some 34% of its issued share capital, paying out $81-million to shareholders in the process. 

Free State gold rationalisation on cards

10th October 2001 South African gold producer AngloGold said it was considering an offer for its assets in the Free State province. 

Gold buys get bullish

9th October 2001 Fans of gold stocks and gold-orientated mutual funds, clearly a winning bet for investors in 2001, say prospects remain bullish despite a brief pause in the upward trajectory. 

Golden deals on the horizon

9th October 2001 Rising gold prices have revived interest in gold-mining company mergers and acquisitions, but with several major deals already announced, company executives are not sure how many more transactions are on the horizon. 

More gold personnel changes

9th October 2001 Neal Froneman, currently Harmony’s operations director, is to join JCI Gold as technical director with effect from October 15, 2001. 

Gold major’s hedging, acquisition strategy

8th October 2001 Canadian gold producer Placer Dome CEO Jay Taylor said the company’s hedging programme is contributing an extra $60 an ounce above recent gold prices and the company does not plan to change its strategy. 

South Africa builds the world's biggest tripper car

By: Martin Zhuwakinyu     5th October 2001 A Johannesburg engineering and project-management company, which earlier this year shrugged off international competition to clinch a contract to design, build and deliver equipment worth $4-million to a gold-reclamation project in Uzbekistan, has started to dispatch the equipment, which includes... 

Making desktop procurement a reality

By: Laura Franz     5th October 2001 Gold-mining giant AngloGold has taken the first steps towards making desktop procurement a reality extending all the way from its office towers to the depths of its mine shafts, reports strategic procurement manager Malcolm Farrell. 

Mali gold safari continues

5th October 2001 The contracting of two South African companies in a feasibility to establish yet another gold-mine in Mali has been made possible in part by a government support scheme as well as a special funding vehicle established by Absa. 

Study on for another big Zambia project

5th October 2001 A full definitive study has been commissioned by Canadian company First Quantum Mineral to determine the feasibility of establishing a large low-cost openpit mine at Kansanshi, Zambia. 

'Normandy invasion' by year end

5th October 2001 The world’s leading gold producer, AngloGold, is confident its $1,6-billion offer for Australia’s Normandy Mining will be completed by the end of the year, even though it must first win the approval of regulators in four countries, says executive marketing director Kelvin Williams. 

Candian zinc project completed ahead of schedule

4th October 2001 The Canadian zinc-copper unit of global mining conglomerate Anglo American, Hudson Bay Mining and Smelting, said the key expansion and modernisation of its zinc plant was completed three months ahead of schedule. 

New gold-marketing drive launched

4th October 2001 The gold-mining industry unveiled plans this week for a major gold marketing initiative aimed at increasing demand for gold jewellery. 

Gold merger offer available to US shareholders

4th October 2001 In order to offer US shareholders of Normandy the opportunity to receive and freely trade AngloGold shares in the US, it has been decided that AngloGold will file a Form F4 registration statement with the United States Securities and Exchange Commission (SEC). 

Pressure on Ghana to drop Ashanti 'golden share'

3rd October 2001 Ghana’s government would not oppose a merger involving Ashanti Goldfields if the move was seen to be in the company’s best interests, the West African country’s finance minister said. 

Gold supplies to tighten – Thompson

28th September 2001 South Africa’s Gold Fields said a decline in the global supply of gold was looming as mine activity wanes and some central banks exhaust their sales. 

SA gold leader gets central bank approval for acquisition

27th September 2001 The world’s leading gold producer, AngloGold, has received permission from the South African Reserve Bank to proceed with its proposed acquisition of Normandy Mining. 

Placer still on acquisition trail

26th September 2001 Placer Dome will stay focused on acquisitions despite losing out in a bidding war for WMC Resources’ prized Australian gold assets, its president said on Friday. 

SA’s gold No 2 uses purchase to lower risk profile

26th September 2001 South Africa’s second-largest gold producer, Gold Fields, will produce more than a quarter of its output from opencast reserves once its proposed $232-million acquisition of the St Ives and Agnew mines from Australia’s WMC Resources is concluded in November. 

SA backing for Australian gold project

25th September 2001 Bendigo Mining said South Africa’s Harmony Gold would take a 31,1% stake in Bendigo, providing the A$50-million (US$25-million) in funds it needs to start gold production at its mine. 

Big N American gold bias

By: Martin Creamer     21st September 2001 North America is receiving the lion’s share of the market capitalisation of major gold companies, with Africa-linked majors underfunded by comparison. 

Now SA’s gold No.2 moves on Aussie assets

21st September 2001 WMC Resources said it has agreed to sell its main gold-mines to South Africa’s Gold Fields for $232-million (A$470-million), plus a royalty. 

Aussies get in on gold merger act

18th September 2001 South Africa’s Harmony Gold said it would not oppose the agreed merger of Australian gold-miners Delta Gold and Goldfields. 

Higher gold prices could stymie consolidation

17th September 2001 Analysts believe that the firming gold price will increase the sense of urgency among those producers making moves to consolidate the fragmented gold production industry. 

Production at yet another Mali gold-mine by 2002

17th September 2001 Production at Mali's proposed $74-million Tabakoto gold-mine will start at the end of 2002, rather than this year as initially planned, an official at Nevsun Resources, the Canadian company behind the project, told Reuters. 

Ebb and flow in official sector gold holdings

By: Keith Campbell     14th September 2001 THE World Gold Council has reported that, while the official gold holdings of the countries of the world have declined since 1998, those of the international financial institutions have increased. 

Russian diamond-sorting technology on offer

By: Keith Campbell     14th September 2001 A Russian company has developed new technolgies for sorting diamonds through flourescence and sifting gold particles from sands and gravels. 

Mali's gold earnings surge

11th September 2001 The Yatela gold-mine in Mali, a joint venture project between AngloGold (40%), IAMGOLD (40%) and the Mali government (20%), was officially opened this weekend. 

No acquisition binge planned by Barrick

11th September 2001 The head of Barrick Gold Corporation said on Friday his company has no plans to boost production levels through a new acquisition binge, despite seeing gold giants AngloGold and Normandy Mining team up earlier this week. 

New databases for local mining firms

7th September 2001 In a deal worth around R500 000, Anglovaal Mining (Avmin) and Avgold have upgraded their Oracle databases in a move to Web-enable the information technology (IT) firm’s financial software systems for deployment at all their mining operations in Southern Africa. 

Gold firms make human-rights abuse reponse

6th September 2001 In response to a story that Mining Weekly Online published last week about a dispute in a village resettlement in the Geita district of Tanzania, a joint statement has been issued by the CE of Ashanti Goldfields and Anglogold. 

Big gold consolidation offer

6th September 2001 More than half of the gold of the world’s largest gold company will come from shallow reserves if its offer for the world’s seventh-largest gold company is accepted. 

Golden partnership needed to boost productivity

4th September 2001 South African gold producers have to mine and market gold in such a way that they offer the investor a better return than could be obtained anywhere else, stated Anglogold chairperson and CEO Bobby Godsell. 

 

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