R/€ = 15.54 Change: 0.00
R/$ = 13.94 Change: -0.02
Au 1420.80 $/oz Change: 1.12
Pt 858.54 $/oz Change: 11.69

Latest News

Iamgold back in profit in Q4, cash flush

5th March 2004 Iamgold Corporation reported a return to profit in the fourth quarter on Wednesday as well as a 45% increase in gold production in 2003 after the mid-sized Canadian gold company merged with a rival early in the year. 

State does rethink on Alexkor sale

By: Martin Czernowalow     5th March 2004 The protracted process surrounding the land claim and privatisation of State-owned diamond-miner Alexkor may finally be laid to rest later this month, should all parties reach agreement on the way forward, a senior government official suggested yesterday. 

China platinum demand seen soft on sky-high prices

5th March 2004 Soft demand for platinum is expected this year from China, the world's biggest market for platinum jewellery, as global prices hover near 24-year highs. 

Kalgold deal gets ministerial nod

5th March 2004 South African gold miner Afrikander Lease (Aflease) has announced that the remaining conditions precedent to the sale of Kalgold to Aflease had been met or waived. 

Implats notes progress on BEE deal

5th March 2004 South African platinum group Impala Platinum Holdings (Implats) has advised its shareholders that progress is being made towards finalising the sale of its stake in Lonmin to an empowerment partner. 

Ramp-up continues at Messina platinum mine

4th March 2004 Canadian platinum and diamond miner SouthernEra Resources yesterday reported that its 73% subsidiary Messina Platinum had grown its reef tons mined in 2003 by 223% over 2002 as development and production continued to make steady progress. 

Manganese miner to ramp-up on back of China boom

4th March 2004 Australian resources firm Consolidated Minerals yesterday announced plans to expand its manganese operations in Western Australia, in a bid to further increase its exposure to the rapidly growing Chinese raw materials market. 

Oz miner signs JV for Tanzanian project

4th March 2004 Australian gold-miner Sub-Sahara announced yesterday that agreement has been reached with Barrick Exploration Africa (Beal) over the promising Nyanzaga Gold Project, situated in the Lake Victoria goldfield of central Tanzania. 

Explorer begins bulk sampling of copper deposit

4th March 2004 Canadian explorer Candente Resource Corporation advised yesterday that bulk sampling of copper mineralisation is currently underway on the Ca 

Platinum group progresses Sierra Leone exploration

4th March 2004 UK-based platinum mining group Jubilee Platinum has completed the first phase exploration programme on its platinum-group metal (PGM) York project, in Sierra Leone, following due diligence of previous work by Jubilee’s joint venture partner, Golden Prospect. 

Miners take steel-price fight to Competition Tribunal

By: Martin Czernowalow     4th March 2004 South African gold-miners Durban Roodepoort Deep and Harmony have submitted affidavits to the Competition Tribunal in support of their referral of complaint against the country’s steel giant, Iscor. 

Union stages protest march at Driefontein mine

4th March 2004 About 20 000 members of the National Union of Mineworkers (NUM) marched to the offices of Goldfields’ Driefontein mine, near Carletonville, yesterday. 

Congo's main diamond miner set to boost production

4th March 2004 Congo's main diamond company, Miba (Bakwanga Mining Company), said on Wednesday it would ramp up production, invite new joint venture partners and tackle classification problems in an effort to lift profits. 

Kumba mulls big coal expansions

By: Martin Czernowalow     3rd March 2004 The lifespan of South Africa's coal industry could be extended by decades with the development of a megamine to tap largely-untouched reserves in the north of the country, a mining executive said this week. 

Sallies details turnaround progress

3rd March 2004 South African fluorspar miner Sallies yesterday provided some insight into progress it was making in achieving its turnaround targets. 

Work advances on Alaskan gold projects

3rd March 2004 Vancouver-based gold company NovaGold Resources says that it is advancing four separate million-plus-ounce gold deposits in Alaska and Western Canada. 

China aluminium producers release New Year stocks

3rd March 2004 Aluminium supply in China is rising as producers have begun delivering inventories built during the Lunar New Year holiday, but demand has not increased, industry sources said yesterday. 

Copper miners make smelter choice

3rd March 2004 Xstrata Technology announced yesterday that it had successfully bid for two major copper smelter expansions in Peru and Zambia, which it claimed confirmed Isasmelt as a technology of choice for copper smelting. 

BHP Billiton forges $9bn China iron-ore deal

2nd March 2004 The world's largest diversified miner, BHP Billiton, signed a $9-billion deal yesterday to double its iron-ore sales to a resource-hungry China that is scouring the globe for raw materials to fuel its factories. 

Further drilling planned on Botswana prospect

2nd March 2004 Australian explorer Mount Burgess announced at the weekend that it planned further drilling at the Kihabe base-metals project in Botswana, following prospecting on a geochemical anomaly some 2,6 km in length. 

Aflease awaits Harmony reaction to Kalgold financing proposal

By: Martin Czernowalow     2nd March 2004 JSE Securities Exchange-listed gold company Afrikander Lease (Aflease) said yesterday it has secured financing to finalise a transaction with gold major Harmony. 

Placer eyes Chile mine tax, warns on SA

2nd March 2004 The world's fifth-largest gold producer, Placer Dome, said it was examining calls in Chile for a mining royalty tax that may impact the go-ahead for a major project in the South American country. 

SA gold output 4,9% lower in 2003

2nd March 2004 South Africa’s gold production decreased by 4,9% to 375,8 t in 2003, from the 395,2 t produced in the previous year, Chamber of Mines chief economist Roger Baxter said in a statement yesterday. 

Platinum hits new 24-year high, gold regains $400

2nd March 2004 Platinum climbed to a fresh 24-year high at $903 an ounce in Asia today before losing some of the gains to profit-taking but analysts said the rally was far from over. 

Diamond explorer continues Botswana focus

2nd March 2004 Canadian explorer Tsodilo Resources reports that its remains focused on advancing work at the Ngamiland and Gcwihaba diamond properties in northwest Botswana. 

Barrick begins work on Oz gold project

1st March 2004 Canadian gold producer Barrick Gold Corporation has announced that it has started construction of the Cowal gold-mining development project, in Australia. 

Mission to build a gold icon

By: ongezwa manyathi     1st March 2004 "If we realise our dream of being the primary wealth-creationvehicle on our continent and a competitive wealth-creationvehicle worldwide, we will erode negative perceptions about Africa;if we fail, we’ll entrench them”. 

Placer Dome has record year in 2003

1st March 2004 Canadian gold major Placer Dome last week announced record gold production of 3,9-million ounces for 2003, and the highest net earnings from mining activities in the company's history of $229-million. 

Big drilling-solutions acquisition announced

1st March 2004 Swedish mining-equipment manufacturer Atlas Copco has signed an agreement with Ingersoll-Rand of the US to acquire Ingersoll-Rand Drilling Solutions. 

Caledonia advances SA mining projects

1st March 2004 Canadian miner Caledonia Mining Corporation said its Barbrook Gold Mine, in Mpumalanga, South Africa, continues to focus on improving gold recoveries. 

Aquarius gets enviro approval for Kroondal project

1st March 2004 Platinum producer Aquarius Platinum (AQP) has announced that the South African Department of Minerals and Energy has approved the environmental management programme report (EMPR) for the company’s pool and share project, at the Kroondal Platinum Mine. 

Draft extractive industries valuation standards released

1st March 2004 In September 2002, the International Valuation Standards Committee (IVSC) requested its Extractive Industries Task Force to proceed with the rapid development of valuation standards for the minerals and petroleum industries, for inclusion in the international valuation standards (IVS). 

Finland invites bids for Lapland gold deposit

1st March 2004 Finland invited miners on Friday to bid for the rights to a new gold prospect in Lapland, a northern region of the country that may hold Europe's biggest deposit of the precious metal. 

Platinum miner concludes BEE deal

1st March 2004 Canadian platinum miner Jubilee Platinum has concluded a transaction with New Africa Mining Fund (NAMF), a South African private equity fund, whose goal is to help foster mining activities and empowerment in South Africa and the rest of Africa, particularly assisting junior mining companies. 

China’s ferrochrome prices slip on rising imports

1st March 2004 China's domestic ferrochrome prices have fallen around 10% in the last few weeks to align themselves with the price of surging imports, traders said on Friday. 

AngloGold's bond offering rises to $1bn

27th February 2004 Gold mining giant AngloGold Holdings reports that Citigroup and Deutsche Bank have exercised their option to subscribe for additional bonds in an aggregate principal amount of $100-million. 

China tin-smelters focus on lucrative local market

27th February 2004 China's domestic tin ingot prices have risen sharply, discouraging local producers and traders from exporting the metal despite rising international prices, smelters and trading sources said yesterday. 

SA seeks to make resources linked technology impact

27th February 2004 South Africa’s mining industry is world-renowned, but its broader-based mineral resource technology, while recognised as being innovative and, in many instances, world-class, has not made nearly the same impression. 

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