R/€ = 16.26 Change: 0.35
R/$ = 14.52 Change: 0.29
Au 1346.10 $/oz Change: 10.58
Pt 802.76 $/oz Change: 3.72

Latest News

Drilling starts on Bokfontein PGM prospect

30th October 2003 Junior Australian exploration company Nkwe Platinum announced yesterday that drilling has started on its Bokfontein prospect. 

UN to discuss link between diamonds, DRC war

30th October 2003 The UN Security Council was to meet today to discuss a report on the booming trade in African diamonds and minerals, which is continuing to finance what may be the deadliest conflict since World War II. 

Aquarius Platinum firms on upbeat quarterly report

30th October 2003 Aquarius Platinum shares rose nearly seven per cent yesterday as record production of platinum group metals (PGMs) and improved metal prices pushed up quarterly revenues. 

US miners buoyed by rise in commodity prices

30th October 2003 Shares of two of the biggest US mining companies soared to multiyear highs yesterday as a surge in metals commodity prices led to a sharp improvement in third-quarter results. 

SouthernEra finds gold in Gabon

29th October 2003 Canadian miner SouthernEra Resources has announced that the discovery of a substantial gold anomaly in Gabon, West Africa. 

China’s Yunnan says Freeport concentrate delayed

29th October 2003 China's Yunnan Copper said late on Monday its final 2003 copper concentrate shipment from US-based Freeport-McMoRan Copper & Gold would be delayed until February due to an accident at Freeport's Indonesian unit. 

Harmony still in the dark over legality of gold bars

By: Martin Czernowalow     29th October 2003 A challenge to South Africa’s seemingly ambiguous gold-ownership laws, launched by Harmony Gold Mining Company in April, has still not yielded any form of clarification from the country’s authorities, the company revealed on Monday. 

Anvil secures equipment for Dikulushi expansion

29th October 2003 Australian junior Anvil Mining states in its quarterly report ended September 30 that work began in July to secure critical equipment for the stage two expansion for its Dikulushi copper and silver mine in the Democratic Republic of Congo. 

Future prospects for zinc debated

29th October 2003 Financial and market analysts, government representatives and other industry observers recently gathered in London for two events named ‘Surprisingly Zinc’ and ‘Zinc Forum 2003’, to discuss and explore future prospects for the zinc industry. 

SA to hand over conflict diamond process chairmanship

29th October 2003 South Africa’s Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, and South African Diamond Board will today host the Kimberly Process plenary session, at which South African will hand over the conflict diamond process chairmanship to another country. 

Mines commit R6m to radioactive sites clean-up

29th October 2003 The gold-mining members of the Chamber of Mines have pooled their collective efforts and committed resources to the clean up of 38 sites in South Africa that are contaminated by radioactive material. 

Ghana cabinet recommends AngloGold

29th October 2003 The government of Ghana ended months of speculation by recommending a bid for mining group Ashanti Goldfields from South Africa's AngloGold. 

UN panel on plunder of DRC resources publishes final report

29th October 2003 A United Nations committee investigating the plunder of gems and minerals in the Democratic Republic of the Congo (DRC) published its final report today, listing the names of companies that did – and did not – cooperate with its work. 

Venezuela’s Chavez says mining revocations ‘legal’

28th October 2003 Venezuelan President Hugo Chavez Sunday defended his government's recent cancellation of mining concessions as "absolutely legal", saying some foreign miners and their local business allies were stealing gold and diamonds without paying taxes. 

Currency moves to cut BHP Billiton Q1 profit

28th October 2003 The rise in value of the Australian dollar and the South African rand will cut the first-quarter profit of BHP Billiton, the world's largest diversified miner, analysts forecast. 

Israeli group in $15m deal with with DRC gem miner

28th October 2003 A subsidiary of an Israeli diamond trading house will provide finance for the recapitalisation of key diamond operations in the Democratic Republic of the Congo (DRC). 

Ashanti still backs AngloGold offer

28th October 2003 Ghana-based miner Ashanti Goldfields said yesterday it was sticking by the bid from South African gold miner AngloGold rather than a higher all-share rival offer from Randgold Resources. 

RBCT announces BEE entrant into coal exports

28th October 2003 The Richards Bay Coal Terminal (RBCT) announced yesterday the first shipment of coal by a new black economic empowerment (BEE) entrant into the coal export market, through its operation at Richards Bay in KwaZulu-Natal. Around 52 000 t of coal from black-owned group Ilanga Coal is currently being... 

Strong rand good for acquisitions – Harmony

By: Martin Czernowalow     28th October 2003 South African gold producer Harmony Gold Mining Company said yesterday it would remain acquisitive, especially in light of the strong rand that is adversely affecting the country’s gold-mining sector. 

Barrick profit edges up, hedge book still weighty

28th October 2003 Barrick Gold Corporation posted a profit in line with analyst expectations yesterday, but for the first time this year the world's No. 2 bullion producer did not reduce its bulky hedge book over the quarter. 

Nordic gold rush attracts major players

27th October 2003 The lone snow grouse crossing the narrow gravel road in a remote Finnish forest north of the Arctic Circle may be walking on Europe's biggest gold deposit. 

SA's Geoscience Council emerging as asset for Africa

By: Keith Campbell     27th October 2003 South Africa’s science council for the earth sciences, the Council for Geoscience (CGS), has become the main centre for promoting and developing geological and related expertise over much of the African continent, and is active in many countries on the con-tinent, helping their Geological... 

Boliden sees stronger Q4 but weak dollar stings

27th October 2003 Swedish mining and metals group Boliden reported a 15% fall in third quarter pre-tax profit at the weekend but reiterated it expected a stronger second half, signaling a good final quarter. 

New executives appointed at UK miner

27th October 2003 British mining company Cluff Mining announced at the weekend that with effect from October 23, 2003, a number of changes have been made to the board to take the company through the next stage of its development into a platinum group metals producer. 

Mlambo-Ngcuka slams unions, bosses on safety

By: Martin Czernowalow     27th October 2003 South African Minister of Minerals and Energy Phumzile Mlambo-Ngcuka on Friday lambasted the country’s organised labour for not prioritising health and safety issues within the mining industry. 

Cluff, Khumalo differ on deal terms

27th October 2003 UK miner Cluff Mining has confirmed that differences have arisen between it and a Mzi Khumalo-linked company known as Rosario over Rosario's entitlement to new Cluff shares under an acquisition deal struck in the middle of last year - Khumalo is also a shareholder and director of Cluff. 

‘Global iron-ore boom continues’ – Unctad

27th October 2003 The United Nations Conference on Trade and Development (Unctad) Iron-Ore Trust Fund said that the global iron-ore boom is continuing. In the first half of 2003, global production reached over 540-million tons. 

Shaft sinking begins at Kombat

27th October 2003 South Africa’s Cementation Mining (Namibia) has started sinking of the ASIS Far West Appraisal Shaft at Kombat Mine in northern Namibia for Ongopolo Mining and Processing. 

PTM seeks to raise $2m for exploration

27th October 2003 Canadian exploration company Platinum Group Metals (PTM) announced at the weekend that it has agreed to a private placement for 2,4-million units, at $0,85 a unit, to raise gross proceeds of $2 040 000. 

Comex gold narrowly misses new high

27th October 2003 Comex gold steamrolled to within $2 of last month's seven-year peak Friday, shining brightly against a tumbling dollar, while trade houses backed up their bullishness with heavy buying of options, dealers said. 

DME suspends mining at NCape operation

27th October 2003 The Department of Minerals and Energy has suspended mining operations at New Diamond Corporation at Schmidtsdrift in the Northern Cape. 

BHPB iron ore, copper output rises

24th October 2003 BHP Billiton, the world's largest diversified miner, said yesterday its Western Australian iron ore production and shipments had risen to a quarterly record, driven by demand from Asia and particularly China. 

Venezuela defends ending De Beers technical accord

24th October 2003 Venezuela's Energy and Mines Ministry on Wednesday defended its decision to suspend a technical cooperation accord with De Beers, saying the world's No. 1 diamond company had acted "in an illegal manner" in the South American country. 

Battle raging over planned ECape mine

By: laurian clemence     24th October 2003 A Department of Environmental Affairs and Tourism official yesterday confirmed to Mining Weekly Online that the department had serious reservations about the compatibility of a proposed mining project in the Eastern Cape with ambitions for big eco-tourism initiatives in the area. 

French group won’t make-up lost ferro-manganese output

24th October 2003 French non-ferrous metal producer Eramet said yesterday it had no plan to transfer the ferro-manganese output capacity of its soon-to-close Comilog plant in Boulogne sur Mer to other plants. 

DRD sinks to Q1 loss, outlook brighter

24th October 2003 South African gold miner Durban Roodepoort Deep (DRD) posted a first-quarter loss yesterday due to its problematic North West mines, but said cost cuts may return it to profit in the current quarter. 

Newmont announces $90m tender offer

24th October 2003 Denver-based gold miner Newmont Mining Corporation yesterday announced that its subsidiary, Newmont Capital, had launched a tender offer for any and all of the 7,5% guaranteed notes due in 2005 of another Newmont subsidiary, Newmont Finance. 

DRD promises a return to profit at North West mines

By: Martin Czernowalow     24th October 2003 South African marginal gold producer Durban Roodepoort Deep (DRD) said yesterday that its North West Operations (NWO) would return to profit during the current quarter, following a 60-day review process and restructuring exercise. 

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