R/€ = 17.64 Change: -0.02
R/$ = 18.01 Change: -0.01
Au 1711.15 $/oz Change: -13.42
Pt 924.25 $/oz Change: -5.25

Latest Videos

Lower-cost, higher-capacity SA manganese export route needed – BHP Billiton 

By: Martin Creamer     25th August 2009 A lower-cost, higher-capacity manganese export route is needed to allow South Africa to compete, says BHP Billiton CEO Marius Kloppers. "We basically have a logistical constraint, which prevents South Africa from taking market share from other producers," Kloppers tells Mining Weekly Online. 

Sephaku makes debut on Johannesburg bourse  

By: Esmarie Iannucci     21st August 2009 Black economic-empowerment mineral development and exploration company Sephaku Holdings, which is developing a cement project in the North West province, on Friday listed on the JSE main board. CEO Neil Crafford-Lazarus said at the listing function at the JSE, that the company had listed... 

Daily podcast - August 21, 2009 

By: Jonathan Faurie     21st August 2009 BHP Billiton CEO Marius Kloppers reported this week that Iron-ore pricing is heading towards greater transparency, JSE-listed diversified miner Exxaro has cut R1-billion off its planned R3-billion 2009 capital expenditure programme 

Iron-ore pricing heading towards greater transparency - BHP Billiton 

By: Martin Creamer     20th August 2009 Iron-ore pricing is heading towards greater transparency, BHP Billiton CEO Marius Kloppers said on Thursday. Kloppers told journalists in Johannesburg that steel-pricing dynamics had changed towards shorter contracts. 

Exxaro cuts R1bn capex, secures R4,5bn bridging facility for Medupi 

By: Martin Creamer     20th August 2009 JSE-listed diversified miner Exxaro has cut R1-billion off its planned R3-billion 2009 capital expenditure (capex) to take the total anticipated capex for the year to R2-billion. The company, which increased revenue 23% to R7,1-billion in the half-year to June 30, also secured a R4,5-billion... 

Waterberg-Mpumalanga rail needed to ensure SA's energy security - Exxaro 

By: Martin Creamer     20th August 2009 Coal would in time need to be railed from the emerging Waterberg coalfield to power stations in the depleting Witbank coalfield to ensure South Africa's energy security, diversified resources company Exxaro executives said on Thursday. At a media roundtable after Exxaro reported an 8%-higher... 

Daily podcast - August 20, 2009 

By: Amy Witherden     20th August 2009 In today's podcast, Simmers may close more shafts to stop "cash bleed"; and Exxaro Resources reports interim headline earnings of R1,4-billion. 

Daily podcast – August 19, 2009 

By: Shannon de Ryhove     19th August 2009 The strong rand has resulted in the closure of Simmers' Number 12 shaft; and foreign mining firms in Zambia want the government to adopt mining policies that will boost investment at a time when copper prices are recovering. 

Daily podcast – August 18, 2009 

By: Shannon de Ryhove     18th August 2009 Harmony Gold nabs Pamodzi Gold Free State resource for $2/oz; and Zambia's Baluba copper mine starts blasting for copper. 

Strong rand weighs as Harmony wins plaudits for first dividend in half decade 

By: Martin Creamer     17th August 2009 While South Africa's third-largest gold miner Harmony Gold won plaudits on Monday for unexpectedly declaring its first dividend in half a decade, its CEO Graham Briggs was quick to point out to Mining Weekly Online that the company would not be saddling itself with a dividend policy at this stage... 

Daily podcast – August 17, 2009 

By: Shannon de Ryhove     17th August 2009 Shanduka reports that three workers have been injured in an underground explosion at its Springlake coal mine, in KwaZulu-Natal; and Chambishi Metals will delay restarting production until September. 

Debt-free, cash-flush Northam Platinum acquirer or takeover target - analyst  

By: Martin Creamer     14th August 2009 Debt-free, cash-positive but underrated Northam Platinum could return to being a platinum-industry takeover target, as it was before the global economic meltdown, or it could consider using its nigh-R1-billion in cash to acquire juniors and become an industry consolidator, RBC Capital Markets... 

Daily podcast – August 14, 2009 

By: Kelly Farthing     14th August 2009 South Africa's cabinet agrees on a suspension of the disposal of mining assets held by state entities; and official data shows that South Africa's total mining production fell 7,3% year-on-year in June. 

Merafe Resources CEO decries raw chrome exports 

By: Jonathan Faurie     14th August 2009 The exporting of raw chrome ore to China is still a problem that is a thorn in the side of the South African ferrochrome industry, however, moves to block such exports are being made at the highest level, reports ferrochrome major Merafe Resources. 

Gold-miner increases exploration spend to $43m 

By: Loni Prinsloo     14th August 2009 Gold-mining major AngloGold Ashanti has stepped-up its exploration efforts for the second quarter, spending $43-million on exploration activities compared with the $31-million spent during the previous quarter. 

Accidents claim lives of six AngloGold Ashanti workers in three months to the end of June 

By: Loni Prinsloo     14th August 2009 Gold-miner AngloGold Ashanti tragically lost eight of its miners during its second quarter ending June 30, 2009.  

Daily podcast – August 13, 2009 

By: Shannon de Ryhove     13th August 2009 Cameco may be ready to start dewatering its Cigar Lake project by the end of this year; and Anglo American sells its stake in Tongaat Hulett. 

Daily podcast – August 12, 2009 

By: Shannon de Ryhove     12th August 2009 A worker is killed in a locomotive accident at AngloGold Ashanti's Mponeng mine; and Caledonia Mining produced 1 822 oz of gold in July, from its Blanket mine, in Zimbabwe. 

Daily podcast – August 11, 2009 

By: Shannon de Ryhove     11th August 2009 Rio Tinto has yet to be presented with any evidence to support the detention of four of its China-based staff on suspicions of stealing state secrets; and Mitsubishi Materials Corp returns to full production. 

Daily Podcast – August 7, 2009 

By: Shannon de Ryhove     7th August 2009 Gold Fields may have to review its expenditure, and the DRC clears four major mining deals.  

Currency volatility may spoil Gold Fields' R8,5bn capex plan 

By: Martin Creamer     6th August 2009 South African gold major Gold Fields, which plans to spend R8,5-billion capital in its current financial year, may have to review that expenditure if the volatile rand continues to squeeze profit margins and the company's mines fail to achieve their production targets. Gold Fields CEO Nick... 

Daily podcast – August 6, 2009 

By: Shannon de Ryhove     6th August 2009 PT International Nickel Indonesia says its nickel mine is operating normally and Eskom is planning to update its coal suppliers' database. 

Zimbabwe heading for million ounces of platinum a year - Chamber

By: Martin Creamer     5th August 2009 Zimbabwe was expected to be producing a million ounces of platinum a year in the next ten to 15 years, Zimbabwe Chamber of Mines president Victor Gapare said on Wednesday. Gapare told the Omega Mining in Africa conference in Johannesburg that the country was currently producing at a rate of 170... 

Zimbabwe miners may now sell gold on open market, 50 t/y possible – Chamber  

By: Martin Creamer     5th August 2009 Zimbabwean gold-mining companies, which are now free to sell their gold on the open market, are capable of producing at a rate of 50 t/y, Zimbabwe Chamber of Mines president Victor Gapare said on Wednesday. Gapara told the Omega Mining in Africa conference in Johannesburg that the former... 

Daily podcast – August 5, 2009 

By: Shannon de Ryhove     5th August 2009 Barrick Gold eyes global M&A opportunities; and Zambia's Baluba copper mine will resume operations in December. 

Merafe expects short to medium-term ferrochrome demand to recover 

By: Esmarie Iannucci     4th August 2009 South African miner Merafe Resources expects the demand for ferrochrome to recover in the short to medium-term, CEO Steve Phiri said on Tuesday. Speaking at the company’s interim financial results presentation in Johannesburg, Phiri said that it was still “early days”, but noted that several... 

Daily podcast – August 4, 2009 

By: Shannon de Ryhove     4th August 2009 Gold sales head for their lowest level since 1994; and Rossing South could support a profitable, long-life, low-cost uranium mine. 

Daily podcast – August 3, 2009 

By: Shannon de Ryhove     3rd August 2009 In today's podcast: Mano River announces an initial independent mineral resource estimate of 1,08-billion tons of iron-ore at its 38,5%-owned project in Liberia; and a formal public consultation period has begun on Coro Mining's San Jorge project. 

Daily podcast – July 31, 2009 

By: Christy van der Merwe     31st July 2009 In today's podcast: Anglo American's earnings for the first half of the year fall 68,5%; and Barrick Gold reports that the company is making headway in cutting costs. 

We already have scale, says Xstrata-rejecting Anglo CEO 

By: Martin Creamer     31st July 2009 Diversified mining major Anglo American already has scale, its CEO Cynthia Carroll said at the weekend, reiterating the company's rejection of Xstrata's scale-and-size-providing merger of equals. Mining Weekly Online asked Carroll if Anglo's current scale-and-size could match that of a combined... 

AngloGold Ashanti Q2 output up, earnings rise 

By: Loni Prinsloo     31st July 2009 Africa’s top gold producer, AngloGold Ashanti, reported an 11% increase in second quarter adjusted headline earnings to a record, after improved performance from its operations in Tanzania and Ghana boosted production. Adjusted headline earnings increased to $167-million in the three months to... 

Investors loath to pour money into juniors as liquidity dries up 

By: Loni Prinsloo     31st July 2009 “The longer the time horizon of an investment, the more sensitive projects are to macroeconomic risks. Remember, with green fields projects the investor could, in principal, be more than 15 years away from the first cash-flow. That is a crucial aspect, increasing the risk for investors.” 

Daily podcast – July 30, 2009 

By: Shannon de Ryhove     30th July 2009 In today's podcast: the head of the China Iron and Steel Association waves off suggestions that an iron ore price deal with foreign miners is imminent; and Metorex agrees to sell 15% of its shareholding in Vergenoeg Mining to a consortium of black economic empowered entities. 

Daily podcast – July 29, 2009 

By: Shannon de Ryhove     29th July 2009 In today's podcast: BHP Billiton agrees to iron-ore prices that are 33% and 44% lower than last year; and Randgold Resources begins a global offering of five-million new ordinary shares. 

Currency-hit Angloplat expects rand to trade weaker towards year-end  

By: Martin Creamer     28th July 2009 Currency-hit Anglo Platinum (Angloplat) expects South Africa's rand to trade weaker towards the end of 2009. “Although the current rand strength, which is depressing the rand revenue basket at present, is of concern, we do expect the rand to trade weaker towards the end of the year,” Angloplat... 

Daily podcast – July 28, 2009 

By: Shannon de Ryhove     28th July 2009 In today's podcast: Xstrata increases production across its metals and minerals board in the six months ended June 30; and Anglo Platinum says that a process was under way that could lead to two further shafts in the Rustenburg complex being placed on care-and-maintenance. 

Daily podcast – July 27, 2009 

By: Shannon de Ryhove     27th July 2009 In today's podcast: Harmony Gold reports a fatality at its Evander 2 shaft, in Mpumalanga province; and two workers at Freeport McMoRan Copper & Gold's mine are among seven detained on suspicion of involvement in recent attacks. 

Science unlocks the legacy of the Mapungubwe gold artefacts  

By: Megan van Wyngaardt     27th July 2009 Scientists from the Council for Scientific and Industrial Research (CSIR) and the Mapungubwe museum, at the University of Pretoria, have opened a door to many of the questions surrounding the history of indigenous gold metallurgy in Southern Africa. 

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