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Latest News

Oppenheimers eye Anglo's De Beers stake - report

20th February 2004 The Oppenheimer family is considering buying 45% of diamond cartel De Beers from Anglo American, a newspaper reported today, but the group's chairperson Nicky Oppenheimer denied the story. 

Three Canadian PGM drill programmes advance

19th February 2004 Canadian platinum group metals (PGM) explorer Platinum Group Metals (PTM) reported yesterday that progress had been made on three active large-scale Canadian exploration projects, all of which are at the drilling stage. 

Vietnam allows Chinese firm to join copper project

19th February 2004 Vietnam has allowed a Chinese firm to join a consortium to build Vietnam's first copper plant, which comprises a $65-million mine and smelter, a Hanoi official said yesterday. 

China copper smelters raise concentrate fees

19th February 2004 China's six major copper smelters have jointly raised their minimum charge for processing copper concentrate for spot shipment between April and June, smelter sources said yesterday. 

Market-coke project decision by June

By: Terence Creamer     19th February 2004 Steel producer Iscor is likely to approve a significant market-coke project by June. 

Anglo-backed initiative enters paper beneficiation

19th February 2004 Ingwekazi Holdings, owned by Wiseman Madinane and Zimele, Anglo American's empowerment and business development initiative, has announced its 100% investment in Gillmich Business Forms. 

RBCT expansion could proceed next month

By: Martin Czernowalow     19th February 2004 The R750-million expansion of the Richards Bay Coal Terminal (RBCT) is expected to proceed next month, on conclusion of various minor agreements between stakeholders. 

Sales-based royalty system only in 2009

By: Martin Czernowalow     19th February 2004 South Africa�s Finance Minister Trevor Manuel announced that government would continue its work on the Mineral and Petroleum Royalty Bill, and would introduce a sales-based revenue royalty charge for the country�s mining industry in five years time. 

Ghana approves Ashanti takeover

19th February 2004 Ghana's Parliament approved yesterday the takeover of national jewel Ashanti by South Africa's AngloGold, but the main opposition party, which boycotted the vote, vowed to challenge the decision. 

Commodity ‘supercycle’ in full motion

By: andrew lanham     18th February 2004 “The world has entered what economists will call a ‘supercycle’,” said president of Hale Advisors David Hale, recently. 

Drill programme confirms bigger PGM resource

18th February 2004 Canadian miner SouthernEra Resources yesterday announced that the Phase 1 in-fill drilling programme at the Dwaalkop Section of the Greater Messina Platinum Project has been completed to a depth of 500 m resulting in a 21% increase in the platinum group metals resource compared to previous... 

China demand to boost BHPB’s earnings

18th February 2004 The world's largest diversified miner, BHP Billiton, is expected to report a stronger first-half profit on tomorrow, helped by China-driven commodities demand and rebounding metals prices. 

Giant showcases SA social projects on Web

18th February 2004 The world's largest resources group BHP Billiton has launched a website dedicated to the corporate social investment (CSI) efforts of BHP Billiton in South Africa. 

‘Silicon metal demand slack’

18th February 2004 Norwegian metals company Elkem ASA reported a 70% drop in fourth-quarter operating profit yesterday, hit by restructuring in North America, and said it saw few signs of improving demand in key markets. 

Sallies continues drive to place unallocated shares

18th February 2004 Fluorspar miner Sallies reported yesterday that it had placed 54 869 260 shares worth more than R12-million with institutional investors and private individuals as part of its continuing capital raising programme. 

UK gem miner seeks to explore Botswana prospect

18th February 2004 British diamond miner African Diamonds said yesterday it was finalising a joint venture agreement to explore a large area of Botswana, one of the world's largest diamond producers. 

Gold producer, union reach wage agreement

17th February 2004 South African gold producer Harmony Gold Mining Company yesterday announced that it has reached a wage agreement with the National Union of Mineworkers (NUM), bringing to an end a strike that began last Wednesday. 

IFC supports BEE mining initiative

17th February 2004 The International Finance Corporation (IFC), the private sector arm of the World Bank Group, on Friday signed an agreement to provide the rand equivalent of $28-million in mezzanine loan financing to support the largest black economic empowerment (BEE) transaction in South Africa to date. 

Aussie explorer targets nickel, gold

17th February 2004 Australian firm Great Western Exploration yesterday launched a $2,8-million initial public offer (IPO) raising to pursue a focused programme of nickel sulphide and gold exploration on tenements adjacent to Western Areas’s recently announced nickel intersections at the Flying Fox and Diggers... 

Scheme opens way for mineral-sands project

17th February 2004 Australian miner BeMaX Resources yesterday announced it had accepted a financing facility from international investment bank ABN Amro to fund the cash component of its three-way asset merger with Nissho Iwai Corporation and Sons of Gwalia. 

Angloplat earnings fall, plans R4bn rights issue

17th February 2004 World number-one platinum producer Angloplat posted a dive in annual profits yesterday as expected, hit by a strong rand, and launched a R4-billion rights issue to finance expansion. 

Anglo Coal opens R3m school in Mpumalanga

17th February 2004 At a ceremony held in Kwa Guqa, Extension 10, yesterday, Anglo Coal's Landau Colliery and the Mpumalanga Education Department (MED) formally celebrated the opening of the new Blackhill-Schoongezicht Primary School, following the relocation of the two schools. 

Kumba, Assmang suspend N Cape iron-ore study

17th February 2004 South Africa's number-one iron-ore producer, Kumba Resources, said yesterday it had halted talks with Assmang on a possible asset swap in the Northern Cape iron-ore fields, due to unspecified disagreements. 

New visible SA leadership for resources giant

By: Martin Creamer     16th February 2004 The world’s largest mining company has been without a visible leader in South Africa since BHP and Billiton merged some three years ago. 

BHP Billiton considers increase in iron-ore output

16th February 2004 Diversified mining giant BHP Billiton said on Friday it was considering an increase in its Pilbara iron ore output to 145-million tons a year. 

Record silver output from US miner

16th February 2004 US-based silver miner Hecla Mining Company at the weekend reported that it produced a record amount of silver at its lowest cost ever in the company's 113-year-history of operations. 

Gold Fields, Mvela move closer to deal

16th February 2004 South Africa’s second largest gold producer Gold Fields, empowered miner Mvelaphanda Resources and the various financiers to a transaction through which Mvelaphanda will acquire a 15% interest in the South African gold mining and related assets of Gold Fields for R4,1-billion, signed the... 

Rand to hammer Kumba’s earnings

16th February 2004 South Africa's biggest iron-ore producer Kumba Resources is expected to report a 50% drop in half-year headline earnings as the strong rand bites into profits and jeopardises expansion plans. 

‘Charter ideals should be taken further’

By: Martin Czernowalow     16th February 2004 The spotlight fell on transformation within the South African mining sector on Friday, as the National Union of Mineworkers (NUM) opened its two-day Mining Charter Summit, aimed at examining the implications of the broad-based socioeconomic mining charter on labour and the industry. 

AngloPlat announces R4bn rights issue

16th February 2004 Platinum-mining giant Anglo Platinum today announced that it would be pursuing a R4-billion rights issue and implementation of a dividend reinvestment programme to support the funding of its expansion programme. 

DRC's Kilomoto to restart gold production

13th February 2004 The Kilomoto gold mine in the Democratic Republic of Congo, forced to shut down when the region was engulfed by civil war, will resume production this month, the firm's head said on Wednesday. 

Ashanti CEO sees Ghana approving AngloGold deal

13th February 2004 Ashanti Goldfields said on Wednesday that Ghana's parliament would approve the firm's takeover by South Africa's AngloGold despite opposition threats to derail the deal. 

Copper entrant breaks ground Downunder

13th February 2004 Australian junior Tritton Resources yesterday announced the start of construction of a $39-million copper project in New South Wales, Australia. 

Union hosts charter summit

13th February 2004 The National Union of Mineworkers (NUM) will today kick-off a two-day mining-charter summit, which it is hosting at a venue in Woodmead, Johannesburg. 

$224m financing for new Zambia copper mine

13th February 2004 Canadian miner First Quantum Minerals has announced the first signings of a financing debt package totaling $224-million for the phase one construction of its 80%-owned Kansanshi copper-gold project in Zambia. 

China not a bubble, says analyst

By: andrew lanham     13th February 2004 Many people do not realise how much Africa has changed, and also how much China has changed, says Robert Friedland, cochairman and president of Ivanplats, speaking at the Investing in Mining Conference in Cape Town. 

Canadian explorer awarded Bushveld permit

13th February 2004 Canadian platinum prospector Platinum Group Metals (PTM) announced yesterday that it's wholly owned subsidiary, Platinum Group Metals South Africa, had been granted a prospecting permit for the War Springs property in the northern limb of the Bushveld Complex. 

Some 5 000 workers to strike at Harmony mines

13th February 2004 The National Union of Mineworkers (NUM) announced yesterday that about 5 000 workers, covering seven shafts, at Harmony’s gold mines in the Free State and the North West, went on Wednesday night. 

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