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R/$ = 16.25 Change: -0.06
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Pt 891.71 $/oz Change: 1.02

Latest Videos

Daily podcast – May 23, 2008 

By: Mariaan Webb     23rd May 2008 In today's podcast: Neotel unveils its long-awaited consumer offering, Eskom chairperson Valli Moosa breaks his silence, and CoM chief economist Roger Baxter states that a smoothed approach of increasing electricity prices is the best way for SA to proceed. 

Canadian junior on the fast track to reopen former Billiton mine 

By: Liezel Hill     22nd May 2008 Toronto-based Adex Mining hopes to be in a position this time next year to make a production decision on its Mount Pleasant project, in New Brunswick, Canada, which could then see it producing its first metal in 2010. Mount Pleasant was built and developed by the then Billiton in the eighties,... 

Daily podcast – May 22, 2008 

By: Shannon de Ryhove     22nd May 2008 In today's podcast: Transnet awards a R2,5-billion construction contract for the new multiproduct fuel pipeline, China and South Africa discuss trade cooperation, and DRDGold suffers production setbacks at its ERPM operation owing to the xenophobic violence.  

Daily podcast – May 21, 2008 

By: Shannon de Ryhove     21st May 2008 In today's podcast: the South African Rail Commuter Corporation plans to replace its entire fleet of 4 600 commuter trains, Eskom CE Jacob Maroga says it won't be useful to force issues on the coal industry, and the DME has commissioned a study to draft a 'coal master plan'. 

Eskom won’t force miners’ hands as coal exports threaten security of supply 

By: Matthew Hill     20th May 2008 While soaring coal prices were a key driver behind Eskom’s latest and much-debated application to the energy regulator for significant electricity price increases, CE Jacob Maroga said on Tuesday that it “won’t be useful to force” issues on the coal industry. However, he... 

Daily podcast – May 20, 2008 

By: Shannon de Ryhove     20th May 2008 In today's podcast: Nersa suggests that Eskom should not manage the procurement of new private generation capacity, BHP Billiton to bring large diesel generator sets to its Hotazel manganese mines, and global demand for gold falls 16% y/y in Q1 of 2008. 

Daily podcast – May 19, 2008 

By: Shannon de Ryhove     19th May 2008 In today's podcast: The IMF expects a GDP growth rate of 6,5% for sub Saharan Africa for 2008, Sasol votes through its R26-billion BEE deal, and the ANC suggests that Eskom should pay for its coal on a cost-plus basis. 

Commodities remain crucial to Africa's growth - IMF 

By: Christy van der Merwe     16th May 2008 Nonoil commodities would remain crucial to Sub Saharan Africa's growth outcome, the International Monetary Fund (IMF) said on Friday, and estimated that for every 1% decline in global economic growth, sub-Saharan African growth would decline by about 0,5%. At its regional economic outlook... 

Daily podcast – May 16, 2008 

By: Shona Kohler     16th May 2008 In today's podcast: Eskom has asked Nersa to more than double its DSM programme to R2,5-billion, a new electricity pricing policy was approved by Cabinet this week, details of which will be announced at the electricity summit on Friday, and AngloGold Ashanti has ceased discussions related to... 

Demand for Africa’s minerals to underpin AEL’s growth 

By: Matthew Hill     15th May 2008 Explosives manufacturer AEL,a subsidiary of JSE-listed AECI, forecast revenue of R1-billion from African countries excluding South Africa, it said on Thursday. The global commodities boom has sparked a new rush for the continent's minerals, pushing up demand for the firm's products. 

Daily podcast - May 15, 2008 

By: Shannon de Ryhove     15th May 2008 In today's podcast: Eskom remains 'cautiously optimistic' that it will squeeze through winter without load shedding, SA government is likely to set out a 'smoothed' tariff-increase scenario at the energy summit, and Sylvania Resources' biggest challenge is how to... 

Sylvania seeks ways to spend ‘mountain of cash’, targets 70 000 oz by 2010 

By: Christy van der Merwe     14th May 2008 The biggest challenge for platinum-from-dumps producer Sylvania Resources, was how to spend the “mountain of cash” it had started generating, as the company reported a 34% increase in production to 4 802 oz platinum group metals (PGMs) in the March quarter, and looked set to produce... 

Daily podcast - May 14, 2008 

By: Shannon de Ryhove     14th May 2008 In today's podcast: construction contractors may have to complete close-out reports for projects soon, SAA issues request for information to Airbus and Boeing for fleet plan, and new Angloplat CEO Neville Nicolau says safety is mine's moral licence to operate. 

New Angloplat CEO hopes to fix miner's safety reputation  

By: Matthew Hill     13th May 2008 CEO designate of the world's biggest platinum producer, 48-year old mining engineer Neville Nicolau, said on the day of the announcement of his appointment that "safety is our moral licence to operate". This came after his predecessor quit his job because of pressures around... 

Daily podcast - May 13, 2008 

By: Shannon de Ryhove     13th May 2008 In today's podcast: Rio Tinto Alcan's task team looking into the timing of its planned aluminium smelter at Coega was making good progress, the Energy Intensive Users Group was sceptical of the utility's ability to continue through winter without load shedding, and Pamodzi is... 

Pamodzi Gold looking to buy more mines, chairperson Ntsele reiterates 

By: Martin Creamer     12th May 2008 Gold junior Pamodzi was looking to buy more gold mines, chairperson Ndaba Ntsele told Mining Weekly Online on Monday. Ntsele said that the company was talking to its neighbours in both Orkney and the Free State to buy adjacent mines. 

Daily podcast - May 12, 2008 

By: Shannon de Ryhove     12th May 2008 In today's podcast: the ANC and its communist and labour union allies call for review of electricity supply to energy-intensive projects, Africa's telecoms industry needs fresh boost to continue growth, and DRDGold initiates PFS at ERPM. 

One down, four to go as Agnico-Eagle pours first gold at Goldex 

By: Liezel Hill     9th May 2008 One might be forgiven for wondering whether someone at Canadian gold miner Agnico-Eagle Mines has a penchant for the number five. The company has just poured the first gold bar at the first of five mines that it will commission over the next eighteen months, in order to grow production by five... 

DRDGold studies long-term ERPM expansion, but for now retrenchments loom 

By: Christy van der Merwe     9th May 2008 Despite the woes experienced by JSE-listed DRDGold at its East Rand Proprietary Mines (ERPM) operation, the company remained convinced of the attractiveness of the resource, and had initiated a pre-feasibility study investigating the re-engineering of underground infrastructure at the mine, which... 

Gold Fields looking to develop West Wits surface assets  

By: Matthew Hill     9th May 2008 Number-two African gold producer Gold Fields and its bigger competitor, AngloGold Ashanti, have decided against partnering to exploit their West Wits surface uranium and gold assets, but the smaller firm might build its own processing plant, new CEO Nick Holland stated on Friday. Holland said... 

Daily podcast - May 9, 2008 

By: Sheila Barradas     9th May 2008 In today's podcast: the agenda for the national energy summit likely to be finalised at a special Presidential joint-working group on May 12, SA looking to improt LNG, and Lonmin starts studies into generating its own power. 

Infrasors lifts FY earnings, embarks on R81m capex programme 

By: Christy van der Merwe     8th May 2008 Gauteng-based industrial materials and mining group Infrasors on Thursday reported that headline earnings a share had more than doubled, as it increased production and sales. Headline earnings a share jumped 111% to 44,6c a share in the year ended February 29, compared with the pro forma Heps... 

Lonmin considers power options to continue platinum growth  

By: Chanel de Bruyn     8th May 2008 The world's third-largest platinum producer, Lonmin, has started initial studies into generating its own power to boost supplies to its South African mines, CEO Brad Mills said on Thursday. "We have to consider the possibility that to continue growth we may have to put in alternatives... 

Daily podcast - May 8, 2008 

By: Shannon de Ryhove     8th May 2008 In today's podcast: China Mobile Ltd is interested in the South African market but no bid for MTN, business confidence declines to lowest level in 2008, and Harmony Gold reports a 650% increase in net profit. 

Gold industry ‘not in good shape' despite high price, says Randgold's Bristow 

By: Martin Creamer     7th May 2008 The gold industry is "not in good shape", despite the gold price being at record levels, says Randgold Resources CEO Dr Mark Bristow. 

Daily podcast - May 7, 2008 

By: Shannon de Ryhove     7th May 2008 In today's podcast:power crisis presents opportunities for Powertech, PPC posts net profit of R674-million, and AngloGold Ashanti is confident of moving towards full production capacity at local operations. 

AngloGold eyes full production at SA mines despite power crunch 

By: Matthew Hill     6th May 2008 South Africa’s biggest gold-miner AngloGold Ashanti reiterated on Tuesday that it was confident of moving towards full production capacity at its local operations and said that it would “claw back” a large slice of the gold ounces it had expected to lose because of the national... 

World's ‘least expensive' gold stock lifts 9% on hedge slashing, big Colombian discovery 

By: Martin Creamer     6th May 2008 Share value of the world's ‘least expensive' gold stock rose more than 9% on Tuesday hot on the heels of AngloGold Ashanti announcing that it would raise R11,9-billion from shareholders to slash its much-criticised hedge. 

Daily podcast - May 6, 2008 

By: Shannon de Ryhove     6th May 2008 In today's podcast: Bharti Airtel bids for 51% of MTN, Eskom suspends new DSM projects because of 'cash flow issues', and AngloGold Ashanti reports a more than fivefold increase in adjusted headline earning for Q1. 

Daily podcast - May 5, 2008 

By: Shannon de Ryhove     5th May 2008 In today's podcast: inspections at Gold Fields regarding the integrity of winding ropes completed, BHP Billiton to spend nearly $2-billion expanding an alumina refinery in Australia, and Eskom to suspend scheduled load-shedding from May 5, 2008. 

Arson to blame for many underground fires, say commentators 

By: Esmarie Iannucci     2nd May 2008 Underground mine arson is a real threat in today’s mining industry, says fire technology and consulting services, Firelab. “Arson, as such, is a very sensitive subject but the reality is that it does take place,” says Firelab’s fire and industrial risk specialist Karel van... 

Industry support admirable, but more support is needed – Wits 

By: Jonathan Faurie     2nd May 2008 Although there is an admirable level of support from industry in the education of students in mining degrees, more support is needed in order to make a significant move in resolving the current skills crises, reports the Wits School of Mining Engineering. 

Drastic measures to avert the skills crisis 

By: Jonathan Faurie     2nd May 2008 Drastic measures to avert the current skills crisis that South Africa is experiencing, is taking root through an initiative between industry role-players. 

Safety campaigning Carroll sings, dances, commiserates with 5 000 Anglo miners 

By: Martin Creamer     30th April 2008 Mine safety campaigner Cynthia Carroll disclosed on Tuesday that she had sung, danced and commiserated with 5 000 South African mineworkers during her latest visit. Ebullient Anglo American CEO Carroll said: "Last week, I had the opportunity to see 5 000 of our employees at various... 

Daily podcast - April 30, 2008 

By: Shannon de Ryhove     30th April 2008 In today's podcast: Eskom releases its expression of interest for new base-load IPPs, Eskom expected to receive a term sheet from National Treasury in the next couple of weeks, Anglo American receives new-order mineral rights for all operations, and NUM president says mine workers are... 

‘Cyclone Cynthia' wins new-order mining rights holus-bolus for Anglo American 

By: Martin Creamer     29th April 2008 With unprecedented success, whirlwind Anglo American CEO Cynthia Carroll has succeeded in securing new-order mining rights holus-bolus for the diversified miner's South African operations. The only remaining loose ends relate to Anglo Platinum's (Angloplat's) 50:50 joint venture... 

Daily podcast - April 29, 2008 

By: Shannon de Ryhove     29th April 2008 In today's podcast: Nersa grants Nedlac and Busa submission extensions to Eskom's 60% tariff increase, Anglo American Q1 output is curbed, and uranium production at AngloGold Ashanti expected to surge 60% by 2012 from 2007. 

Miners incentivised like taxi drivers - paid to take risks and die, NUM president decries at safety summit 

By: Martin Creamer     29th April 2008 Mine workers were being incentivised in the same way as taxi drivers to take risks and to get killed in the process, National Union of Mineworkers (NUM) president Senzeni Zokwana denounced at the Anglo tripartite safety summit in Johannesburg, on Tuesday. 

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