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Latest News

BHP's striking Chile copper mine workers expect to reopen talks

By: Bloomberg     29th August 2006 BHP Billiton's mine workers in Chile expect to resume talks to settle a strike in its fourth week that's cut production at the biggest copper mine in the world by half. 

Gold-ore reserves up 3,4%, Harmony announces

28th August 2006 NASDAQ-and JSE-listed gold miner Harmony Gold on Monday announced a 3,4% increase in its gold-ore reserves. 

Capital raising under way, Simmers shareholders told

By: Nelendhre Moodley     28th August 2006 Gold mining junior Simmer & Jack on Monday advised shareholders that it was embarking on a process of raising capital through its subsidiary First Uranium. 

Paladin commissions Namibian uranium plant ahead of plan

By: Mariaan Webb     28th August 2006 Australian uranium-focused miner Paladin has commissioned its Langer Heinrich uranium plant, in Namibia, a month earlier than planned, the company said on Monday. MD John Borshoff reported that the crusher and associated conveyors to produce a crushed-ore stockpile had been commissioned. 

Xstrata's McArthur mine wins environmental approval

By: Bloomberg     28th August 2006 Xstrata Plc, which is completing the takeover of Falconbridge Ltd., won approval for a A$86-million ($65-million) proposal to expand the McArthur River zinc and lead mine in northern Australia. 

DTC response to Surat flooding

By: Bloomberg     28th August 2006 De Beers' Diamond Trading Company (DTC) has informed customers, or sightholders, that if they are impacted by the recent flooding in India's manufacturing hub Surat and want to defer goods, they may do so. 

Nickel deficit likely, says SocGen

By: Bloomberg     28th August 2006 Nickel supplies may fail to meet demand this year as purchases by steelmakers and manufacturers jump as much as 10 percent, Societe Generale SA said. 

BHP to increase production at Escondida copper mine

By: Bloomberg     28th August 2006 BHP Billiton will seek to increase production in Chile at its Escondida copper mine, the biggest in the world, as more than 2 000 workers extend a strike that's cut output in half into a fourth week. 

Mine heads for Guinness Book of Records as it decends to new depths

By: Martin Creamer     28th August 2006 “We are going where nobody else has gone before,” TauTona senior project manager Etienne Hamman says of his mine’s quest to go below current infrastructure. “By July 15, 2008, we should be able to celebrate the unveiling of a new Guinness Book of Records plaque at a depth... 

More Impala success in Zimbabwe, CEO Rumble announces

By: Matthew Hill     25th August 2006 Second-biggest global platinum producer Impala Platinum said on Friday that the Zimbabwe government had confirmed extension of its special mining lease provisions, representing yet another positive step in the company's rapprochement with the Mugabe government. This had further paved the way for... 

Second mill at Crocodile River mine recomissioned

25th August 2006 Junior platinum miner Barplats has completed a R51-million upgrade at its Crocodile River mine concentrator plant, which would now double its hard-rock milling capacity to 160 000 t/m. 

'Grade management single biggest Impala operating challenge'

By: Martin Creamer     25th August 2006 Grade management at Impala Platinum's Rustenburg operation was “the single-biggest operating challenge that we have in the business”, outgoing Implats CEO Keith Rumble said on Friday. 

Pamodzi Gold plans IPO in South Africa - report

By: Bloomberg     25th August 2006 Pamodzi Gold will merge with Bema Gold Corp.'s South African mines before selling new shares worth R100-million in an initial public offering on Johannesburg's bourse, Business Report said. 

Palabora agrees magnetite sales with China National

By: Bloomberg     25th August 2006 Palabora Mining Co., South Africa's largest copper producer, agreed to sell 2-million metric tons a year of magnetite, a type of iron ore, to China National Minerals. 

African Rainbow says full-year profit jumped as much as 42%

By: Bloomberg     25th August 2006 African Rainbow Minerals, South Africa's largest black-owned mining company, said annual profit per share before one-time items jumped by as much as 42% after iron ore, nickel and platinum prices rose. 

Implats' five-year capex budget rises to R13bn from R11bn

By: Terence Creamer     25th August 2006 South African platinum miner Impala Platinum (Implats) has scaled up, by R2-billion, its five-year capital-expenditure programme to R13-billion. Outgoing CEO Keith Rumble said at the weekend that the capex plans had been enlarged from the previously-announced R11-billion, to include the... 

Uranium miner proceeds with sock split

By: Nelendhre Moodley     25th August 2006 Uranium miner Mega Uranium has announced that it had received all the necessary shareholder and regulatory approvals to complete its previously announced stock split pursuant to which each issued common share will be subdivided into two common shares. 

African-focused gem miner proposes demerger

25th August 2006 African Diamonds has called an extraordinary general meeting (EGM) for September 18, where a demerger of its Sierra Leone and Guinea assets into a new vehicle called West African Diamonds (WAD) will be deliberated. 

World's second-largest platinum miner on track for 2m oz in 2007

By: Terence Creamer     25th August 2006 The world's second largest platinum miner expected to produce more than two-million ounces for the first time in its history during its 2007 financial year, which runs from July 1, 2006, to June 30, 2007, outgoing CEO Keith Rumble confirmed at the weekend. 

SA's most expensive share, Implats, to undergo eight-to-one split

By: Terence Creamer     25th August 2006 South Africa's most expensive JSE-traded share, that of Impala Platinum (Implats), will undergo an eight-to-one split in a bid to improve its attractiveness to retail investors in South Africa and abroad. 

India may lose $1bn of diamond exports after Surat floods

By: Bloomberg     25th August 2006 Diamond exports from India, the world's biggest processor of the stones, may drop by $1-billion this year after the nation's main polishing centre was flooded by heavy rains. 

BHP's Goodyear says copper, nickel may extend gains

By: Bloomberg     25th August 2006 BHP Billiton Ltd., the world's biggest mining company, said copper and nickel may extend their gains because of falling stockpiles and demand from steelmakers. 

Zimbabwe Platinum profit more than doubles to $47,7m

By: Bloomberg     25th August 2006 Zimbabwe Platinum Mines Ltd., which controls most of the country's known platinum reserves, said full-year profit more than doubled to $47,7-million. 

Impala expects profit gain on prices, higher output

By: Bloomberg     25th August 2006 Impala Platinum Holdings Ltd., the world's second-biggest platinum producer, expects profit to climb this year after posting a 12 percent gain in second-half earnings as the price of the metal rose to record. Net income increased to 2.53 billion rand ($356 million) in the six months to June 30,... 

Mines minister to open giant mining expo

24th August 2006 The Electra Mining Africa exhibition opening, which is scheduled for September 11, will be officiated by Department of Minerals and Energy (DME) Minister Buyelwa Sonjica, at the start of DME Mining Week. 

Very good profits in the next 12 months, DRD's Wellesley-Wood promises

By: Martin Creamer     24th August 2006 Mid-cap gold miner DRDGold was poised to generate “very good profits” in the next 12 months, its CEO Mark Wellesley-Wood said on Thursday. This would be the result of the company's turnaround in South Africa combined with its turnaround in Australia. The company was on a “sweet... 

Some BHP Strikers at Escondida break ranks

By: Bloomberg     24th August 2006 A group of striking BHP Billiton Ltd. workers at the world's biggest copper mine crossed picket lines in Chile to negotiate with the company, El Mercurio said. 

DRDGold promises move back to quarterly reporting

By: Mariaan Webb     24th August 2006 Mid-cap gold-miner DRDGold will, in future, move away from reporting on financial, operating and production results every half-year to quarterly reporting, CEO Mark Wellesly-Wood said on Thursday. 

Diamond junior begins Sierra Leone prospecting campaign

24th August 2006 UK-based international diamond exploration and mining company River Diamonds, in a joint venture with African Precious Minerals, has started a diamond-drilling programme at the Pandubo Blow target, in Sierra Leone. 

Mvela's BEE scale-up to lay foundation for Booysendal

By: Terence Creamer     24th August 2006 Black economic-empowered (BEE) mining holding company Mvelaphanda Resources said a move, announced Thursday, to increase its empowered shareholding to above 50% as well as broaden its BEE ownership, would assist it in meeting Anglo Platinum's threshold requirements for compliance with South... 

Mvela already eyeing further 11% in Gold Fields

By: Bloomberg     24th August 2006 Gold Fields, the world's fourth- biggest gold producer, may sell a further 11 percent stake in its South African mines to Mvelaphanda Resources Ltd. to comply with the country's law. 

DRDGold raises Q4 production by 2%

By: Mariaan Webb     24th August 2006 South Africa's fourth-largest gold producer DRDGold has increased its fourth quarter gold production by only 2% to 131 857 oz, with production from its South African operations reporting an increased of 4% to 90 181 oz for the period. For the year to June 30, the group's South African subsidiary,... 

De Beers puts an end to Forte a la Corne case

By: Bloomberg     24th August 2006 Shore Gold has announced that the previously announced action by De Beers Canada against Shore, Kensington Resources and two other defendants has been dismissed with the consent of all parties. 

BHP Escondida mine union ready to hold out 30-60 days

By: Bloomberg     24th August 2006 Striking BHP Billiton miners in Chile said they are ready to extend their walkout at the world's biggest copper mine by another six weeks unless the company improves its contract offer. 

Mvela Resources mulls deal to raise black ownership above 50%

By: Terence Creamer     24th August 2006 Black economic-empowered resources holding company Mvela Resources was considering a transaction that could see its direct empowerment shareholding rising to over 50%, the company said in a statement that accompanied the release of its 2006 year-end results. CEO Pine Pienaar said the deal would... 

BHP Billiton to return $3bn more to shareholders, bullish on outlook

By: Bloomberg     23rd August 2006 BHP Billiton, the world's biggest mining company, will buy back $3 billion of stock after posting a 77% increase in second-half profit on rising copper and iron ore prices. Net income rose to a record $6.1 billion in the six months ended June 30, from $3.45 billion a year ago. Second-half profit... 

Brett Kebble owed SA tax authority R183,6-million

By: Bloomberg     23rd August 2006 Brett Kebble, the former head of gold producer Western Areas Ltd., owed the South African Revenue Service R183,6-million in outstanding taxes and penalties, Finance Minister Trevor Manuel said. 

Merafe's IDC board rep steps down, replacement soon

23rd August 2006 South African ferrochrome producer Merafe Resources' Industrial Development Corporation (IDC) board representative, William Mthembu, has resigned with immediate effect, the company told the JSE on Wednesday. 

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