R/€ = 18.3093 Change: -0.0062
R/$ = 17.4481 Change: -0.0113
Au 1770.71 $/oz Change: 2.01
Pt 998.00 $/oz Change: -2.24

Latest Videos

Mining equipment demand is back – Atlas Copco 

By: Martin Creamer     16th February 2010 "Real" demand for mining equipment had returned, Atlas Copco world president and CEO Ronnie Leten told Mining Weekly Online in Johannesburg on Tuesday. Leten said he had noticed a "significant real improvement" in the last four months in particular. "The timing was around November when you saw... 

Daily podcast – February 16, 2010 

By: Shannon de Ryhove     16th February 2010 Anglo American sells more of Tarmac for $400-million; and the ANCYL will meet with Cosatu on Thursday to discuss different policy issues. 

Daily podcast – February 15, 2010 

By: Shannon de Ryhove     15th February 2010 Optimum Coal buys more of the Koornfontein coal mine; and Asarco's miners agree with Grupo Mexico to extend their existing contract for another year. 

Daily podcast – February 12, 2010 

By: Mariaan Webb     12th February 2010 Blyvooruitzicht gold mine is on track to emerge from judicial management by March; and the Cigar Lake project. 

DRDGold eyeing free-dig Zimbabwe gold  

By: Martin Creamer     11th February 2010 JSE-listed DRDGold is impressed with Zimbabwe's free-dig gold, which it hopes to exploit. DRDGold CEO Niël Pretorius says that while Zimbabwe is still politically controversial, its gold orebodies are just too good to ignore. He tells Mining Weekly Online in a video interview that the 550 ha... 

Blyvoor set to come out of judicial management – DRDGold 

By: Martin Creamer     11th February 2010 JSE-listed DRDGold's Blyvooruitzicht gold mine was on track to emerge from judicial management by March, DRDGold CEO Niël Pretorius said on Thursday. Pretorius told Mining Weekly Online in a video interview that the judicial management was serving its purpose of staving off hostile creditor action. 

Daily podcast – February 11, 2010 

By: Shannon de Ryhove     11th February 2010 Inmet Mining will close its Las Cruces copper mine in Spain for about two weeks next month for an intensive maintenance effort; and DiamondCorp plans to raise £4-million to complete the decline development to access the underground resources at the Lace mine. 

Steel major seeks new iron-ore partnerships after Sishen South loss 

By: Terence Creamer     10th February 2010 South African steel producer ArcelorMittal South Africa is intensifying its efforts to secure control of additional iron-ore and coking coal resources in Southern Africa, and was ready to partner with black economic empowerment (BEE) companies that have secured exploration rights for those... 

Daily podcast – Wednesday, February 10, 2010 

By: Shannon de Ryhove     10th February 2010 Teck Resources to consider a move into the iron-ore sector; and Exxaro Resources plans to significantly grow its energy generation projects up to 2030. 

Mali is Gold Fields ‘new frontier' – Turner 

By: Martin Creamer     10th February 2010 Mali is Gold Fields "new frontier", says Gold Fields West Africa head Peter Turner. The company's focus area is the prospective Yanfolila belt: "It's an underexplored, gold-rich part of south-west Mali and holds a great deal of prospectivity for us," Turner tells Mining Weekly Online, pointing... 

Nickel junior African Eagle mulling Toronto listing 

By: Martin Creamer     9th February 2010 The AIM- and AltX-listed exploration junior African Eagle Resources was considering a listing on the TSX in Toronto, its chairperson Euan Worthington told Mining Weekly Online on Tuesday. "We're looking at various options and some have suggested that listing in Toronto would be a good way... 

Daily podcast – February 9, 2010 

By: Shannon de Ryhove     9th February 2010 Chromex Mining restarts mining at its Stellite opencast chrome mine, in South Africa; and a key rail line in Australia's major coking coal region has been partially reopened. 

Angloplat talking to neighbours on ‘farm-fence' issues – Nicolau 

By: Martin Creamer     8th February 2010 Anglo Platinum was talking to its mining neighbours on farm-fence issues that were standing in the way of better mutual extraction, Anglo Platinum CEO Neville Nicolau said on Monday. Nicolau told Mining Weekly Online in a video interview that in looking to extracting its orebodies efficiently,... 

Underground blasting imminent at President Steyn – Harmony Gold 

By: Martin Creamer     8th February 2010 A resumption of underground blasting was imminent at the newly acquired President Steyn mine where 800 people had already been re-employed, Harmony Gold CEO Graham Briggs said on Monday. Briggs told Mining Weekly Online, in a video interview on the sidelines Harmony's presentation of a 45%... 

Daily podcast – February 8, 2010 

By: Shannon de Ryhove     8th February 2010 Gold Fields to cut its electricity consumption by another 50 MW; and Simmer & Jack Mines to review its options with regard to the company's 37% holding in First Uranium. 

Gold Fields to cut another 50 MW – CEO 

By: Martin Creamer     8th February 2010 The instruction has gone out - the Gold Fields team must cut the large gold-mining company's electricity consumption by another 50MW. The JSE-listed Gold Fields is out to repeat its 10% or 50MW cut that it made between 2008 and the end of 2009. "I have instructed the team to find another 50MW,"... 

Gold Fields has lower net debt, $1bn headroom – CFO 

By: Martin Creamer     8th February 2010 Gold Fields, which has a $1-billion financial headroom, boasts a net debt position that is lower than that of most gold majors, says Gold Fields CFO Paul Schmidt, who points out that Gold Fields ratio of net debt to earnings before interest, tax, depreciation and amortisation is 0,48. "There're... 

More investment demand for gold on way – Gold Fields  

By: Martin Creamer     5th February 2010 There will be more investment demand for gold in 2010, says Gold Fields CEO Nick Holland. His view is that 2009 saw only the start of investment demand for gold and that the world would see more in the current year. "There'll be continued growth of new funds looking to have a piece of gold," he... 

Gold Fields negotiating six-day week at Driefontein, Kloof  

By: Martin Creamer     5th February 2010 JSE-listed Gold Fields is upping its operational game to cope with the increased operational volatility of government stoppages and the consequent restarting delays as well as the intensity of seismicity at depth. Full calendar operation (Fulco) is already under way at the mechanised South Deep... 

Daily podcast – February 5, 2010 

By: Loni Prinsloo     5th February 2010 Gold One plans to change its primary listing on the JSE to a secondary listing; and Nevsun Resources has arranged a non-brokered private placement to raise C$117-million. 

Concrete pump manufacturer sees turnaround in 2010 

By: Mary-Anne O’Donnell     5th February 2010 Concrete pump manufacturer Putzmeister South Africa (PMSA) CEO Ludwig Geyser tells Mining Weekly that, during 2009, the company, like many others, experienced a decrease in turnover of nearly 50% despite the build-up to major events such as the construction of the 2010 FIFA World Cup stadiums and... 

Mine safety regulation set to tighten in 2010  

By: Brindaveni Naidoo     5th February 2010 Official statistics related to the deaths of mine workers in South Africa have not been released, but sources indicate that the death toll breached the 140 mark, an average of 11 deaths a month in 2009. 

Gold Fields engaging govt on mine stoppage protocol  

By: Martin Creamer     4th February 2010 Gold major Gold Fields is engaging the government on the issue of unplanned safety stoppages, which prevented the company's South African region from generating free cash flow in the latest quarter. Gold Fields CEO Nick Holland tells Mining Weekly Online that were it not for the stoppages, its... 

Mine nationalisation talk ‘hot air' – Gold Fields  

By: Martin Creamer     4th February 2010 Talk of the nationalisation of South Africa's mines was "hot air", Gold Fields CEO Nick Holland said on Thursday. Holland divulged – in reply to Afrifocus Securities mining analyst Mark Madeyski at Gold Fields second-quarter results presentation – that he had gone as far as taking up the issue... 

Daily podcast – February 4, 2010 

By: Shannon de Ryhove     4th February 2010 Rand Uranium will invest R3,5-billion on a new uranium processing plant; and Rio Tinto is positive about its Murowa diamond operation in Zimbabwe. 

Daily podcast – February 3, 2010 

By: Shannon de Ryhove     3rd February 2010 African Rainbow Minerals is on track to boost production at its Khumani iron-ore mine by 2012; and Newmont Mining Corporation will start production at its Akyem gold mine, in Ghana, in late 2013.  

Daily podcast – February 2, 2010  

By: Shannon de Ryhove     2nd February 2010 Anglo American will dispose of more entities in 2010; and the nationalisation of South Africa's mining sector isn't a government policy. 

Daily podcast – February 1, 2010 

By: Shannon de Ryhove     1st February 2010 Village Main bids R411-million for the control of Lesego platinum; and Firestone Diamonds will establish a tailings processing facility at the Debswana mine in Botswana. 

Daily podcast – January 29, 2010 

By: Lindsey Berry     29th January 2010 BHP Billiton's new $450-million Klipspruit project is 99% complete; and Sentula Coal expects to have its four coal development assets operational within the next 18 months.  

Bail-out packages a hindrance to a free economy

By: Loni Prinsloo     29th January 2010 After the recession’s forceful hit, financial powerhouses like the US were quick to offer bailout loans to ailing industries. However, these unnatural cash injections and rescue remedies are a significant hindrance to a free economy, warns Toolgal SA MD Heim Distel. 

Kebble R1bn unlocked as JCI, R&E, 
Investec, Letšeng settle marathon dispute  

By: Martin Creamer     29th January 2010 It’s been an irritating marathon dispute in which minority shareholders of mining companies JCI and Randgold & Exploration (R&E) have had to be ultra patient as the bigger fish negotiated terms. 

Daily podcast – January 28, 2010 

By: Shannon de Ryhove     28th January 2010 A railway line to transport coal from Botswana to a port in Namibia could be built within five years from now; and the Council for Geoscience is searching for specialists to assist it in compiling an updated assessment of South Africa's coal resources. 

Daily podcast – January 27, 2010 

By: Shannon de Ryhove     27th January 2010 Australia's government has not yet decided what recommendations it will adopt from a report proposing major tax reforms; and Anglo Coal is looking to grow its thermal coal business. 

Rand gold price outlook 'flat', cost issues 'huge' - Harmony Gold 

By: Martin Creamer     26th January 2010 The outlook for the rand price of gold is "relatively flat" and the prospect of rising costs continues to be "a huge issue", says Harmony Gold CEO Graham Briggs. Briggs says that the considerable volume of gold scrap is being sold into the supply gap left by lower mine production. He says that... 

Daily podcast – January 26, 2010 

By: Shannon de Ryhove     26th January 2010 Coal of Africa Limited completes its R467-million acquisition of coal-junior NuCoal Mining; and a formal antitrust investigation into the proposed Rio Tinto-BHP Billiton iron-ore joint venture has been opened. 

Daily podcast – January 25, 2010 

By: Shannon de Ryhove     25th January 2010 The proposed price increases could be "materially damaging" to the mining and mineral processing sectors; and Gold Fields calls for the implementation of a broadbased tax rather than the proposed power price hike of 35% a year. 

Gold Fields says a tax is preferable to proposed SA power hikes 

By: Terence Creamer     22nd January 2010 The largest producer of gold in South Africa, Gold Fields, has called for the implementation of a broadbased tax rather than the proposed power price hike of 35% a year between 2010 and 2013. Above inflation increases are unavoidable, CEO Nick Holland said at the tail end of the National Energy... 

Big electricity hikes will be ‘materially damaging’ to SA mines 

By: Chanel de Bruyn     22nd January 2010 In the absence of the finalisation of the country’s Integrated Resource Plan (IRP), power utility Eskom’s proposed tariff increases could have material implications for the structure of South Africa’s electricity supply industry (ESI), as well as for the industrialisation of the economy in the... 

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