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Flow-through shares create 'distortion' – Canadian junior 

By: Liezel Hill     27th February 2008 The flow-through share system, which has been credited with breathing life into the Canadian junior sector, was not necessarily positive in the long run, particularly as increasing numbers of companies grow to rely on the plan, David Watkins, who heads TSX-listed exploration and development firm... 

Podcast - February 27, 2008 

By: Chanel de Bruyn     27th February 2008 In this week’s podcast: Gold Fields could cut 6 900 jobs owing to the power crisis implications; Arm will interrogate some 20 other coal prospects to increase coal supplies to Eskom; and Pamodzi Gold chairperson Ndaba Ntsele says South African mining will move more towards a non-racial... 

Mining will eventually move towards nonracialism, says Pamodzi Gold chair Ntsele  

By: Martin Creamer     25th February 2008 South Africa's mining business would in time move increasingly towards a nonracial approach "to show that business is about people, not black or white", Pamodzi Gold chairperson Ndaba Ntsele said on Monday. But that time had not yet arrived, which was why Pamodzi Gold would take... 

ANC's Mantashe hints to creation of State platinum enterprise 

By: Terence Creamer     22nd February 2008 The newly elected secretary general of the ruling African National Congress hinted to the creation of yet more State-owned enterprises, especially in the resources sector, once the successor government to the current Thabo Mbeki-led administration was installed. Speaking at a Centre for... 

On-The-Air (22/02/2008) 

By: Martin Creamer     22nd February 2008 In this broadcast: Uganda has struck oil & will begin production in mid-year; Anglo American teaming up with China Development Bank in search of mining opportunities in Africa; Rio Tinto discovered a billion tons of coal in SA's province of Limpopo 

Power shortage won't harm output, but KIO warns costs may rise 

By: Matthew Hill     22nd February 2008 JSE-listed Kumba Iron Ore (KIO), which split from Kumba Resources in 2006, would not lose production because of South Africa's power crisis, but would likely see an increase in costs in 2008 as it used more diesel to in efforts to cut its power consumption, CEO Ras Myburgh said last week. 

Harmony Gold may treble profit margin in 17 t current quarter, says CEO Briggs 

By: Martin Creamer     22nd February 2008 "Gold's an exciting place to be," says Harmony Gold CEO Graham Briggs of the current state of the gold market, which is characterised by sky-high prices in general and new Harmony leadership in particular, which could see profit margins trebling in the current quarter. Briggs says... 

Where's missing 200 000 oz, JP Morgan's Shepherd asks Angloplat 

By: Martin Creamer     22nd February 2008 Barry Davison spoke of 3,5-million ounces by 2006 and Ralph Havenstein downed that to 2,8-million by 2007, but current joint acting CEO Duncan Wanblad is not, at this stage, promising beyond 2,4-million in 2008. 

Northam can produce as much platinum at 90% electricity level 

By: Martin Creamer     22nd February 2008 Northam Platinum CEO Glyn Lewis and his engineers at the world's deepest platinum mine have beat the power cut. The company will produce at the same level with more than 10% less electricity, shifting of electricity loads to offpeak times. Output of 150 755 oz for the first half of the... 

Implats spends R30-million on safety training, but eight die 

By: Dennis Ndaba     22nd February 2008 The world’s second-largest platinum producer, Impala Platinum (Implats), says safety is still of paramount importance to the group, despite the lost-time injury frequency rate having improved by 13% compared with the year ended June 30, 2007. 

Eskom to buy 45 Mt of additional coal, increase stock levels to 20 days 

By: Terence Creamer     22nd February 2008 State power utility Eskom announced last week that it was going to procure an additional 45-million tons of emergency coal over the next two years to increase stockpiles at its power stations to at least 20 days. These purchases were also likely to come in at vastly improved prices when compared... 

Needham confident about Metorex's standing in DRC, Zambia 

By: Christy van der Merwe     21st February 2008 Once again proving that ‘Africa is not for sissies', South African miner, Metorex's CEO Charles Needham on Thursday explained the firm's interactions with the governments of the Democratic Republic of Congo (DRC) and Zambia, where it operates copper mines, and assured... 

DRDGold shareholders may be rewarded with dividend 

By: Matthew Hill     21st February 2008 JSE- and NYSE-listed gold miner DRDGold will reconsider the possibility of paying shareholders a dividend when the board meets in May, CEO John Sayers said on Thursday. In answer to questions from an analyst, he said that the issue had been discussed, but that a dividend had not yet been... 

South Africa's skills issue a ‘national crisis', says Exxaro CEO Nkosi 

By: Martin Creamer     21st February 2008 South Africa's skills issue was a "national crisis", Exxaro CEO Sipho Nkosi, who is also president of the Chamber of Mines of South Africa, said on Thursday. Nkosi told Mining Weekly Online in an exclusive interview: "It's not a one company issue, it's a country... 

Arm Coal mulls 20 coal prospects as Eskom seeks 45Mt more 

By: Terence Creamer     20th February 2008 Apart from the 3,5-million tons that Arm Coal and Xstrata Coal would supply to embattled power utility Eskom once the R3,2-billion Goedgevonden joint venture was at full production in 2011, some 20 other prospects would be interrogated to potentially augment that supply, Arm CEO Andre Wilkens... 

Arm seeks clarity on new Zambian copper tax before pulling Konkola North trigger 

By: Terence Creamer     20th February 2008 Diversified South African miner African Rainbow Minerals (ARM) and its exploration and development subsidiary, Teal Exploration & Mining, would make a call on the funding arrangements for the 25 000 t/y, $160-million Konkola North copper project, in Zambia, within the next few months, CEO... 

Podcast - February 20, 2008 

By: Mariaan Webb     20th February 2008 In this podcast: Simmer & Jack Mines express concern over the power situation in South Africa; Petra Diamonds receives approval for the purchase of Cullinan mine; and ARM says that operating at 90% power will have little impact on output. 

Arm empowerment trust distributes first cash to uplift communities 

By: Matthew Hill     18th February 2008 Black-controlled diversified miner African Rainbow Minerals (Arm) on Monday handed over some R8-million in cheques to the various beneficiaries of its empowerment trust, which would go towards healthcare, education and other initiatives mainly in rural areas. This was after the firm paid its... 

Harmony may produce power at five mines 

By: Matthew Hill     15th February 2008 Africa's number-three gold producer Harmony Gold, which lost about 800 kg of gold production during January's power cuts, is considering producing power at five of its South African mines, and it might even make sense to build coal-fired power stations, CEO Graham Briggs revealed on... 

On-The-Air (15/02/2008) 

By: Martin Creamer     15th February 2008 In this broadcast: When the going gets tough, its time to turn to engineers who have the wherewithal to engineer our way out of a crisis; Two engineering groups stepping up to the plate to offer energy-short SA new insights as far as nuclear energy is concerned; There is a mining company... 

Eskom to buy 45Mt of addition coal, build up stock levels to 20 days 

By: Terence Creamer     14th February 2008 State power utility Eskom announced on Thursday that it was going to procure an additional 45-million tons of emergency coal over the next two years to increase stockpiles at its power stations to at least 20 days. These purchases were also likely to come in at vastly improved prices when... 

Power shortage won't harm output, but KIO warns costs may rise 

By: Matthew Hill     14th February 2008 JSE-listed Kumba Iron Ore (KIO), which split from Kumba Resources in 2006, would not lose production because of South Africa's power crisis, but would likely see an increase in costs in 2008 as it used more diesel to in efforts to cut its power consumption, CEO Ras Myburgh said on Thursday.... 

Mine costs to 'spiral out of control', Implats CEO Brown warns 

By: Martin Creamer     14th February 2008 Costs would "spiral out of control" for the entire South African mining industry if the skills shortage persisted and retention bonuses became an ongoing feature, Impala Platinum CEO David Brown warned on Wednesday. Brown said that it would be unreasonable to expect unit cost increases... 

10% power cut won't lower our platinum output, says Northam CEO Lewis 

By: Martin Creamer     13th February 2008 The mandatory 10% electricity cut would not stop Northam from maintaining its current level of platinum production, Northam CEO Glyn Lewis said on Wednesday, surprising analysts. Lewis said Northam's shifting of electricity loads to offpeak times would enable the company to produce as much... 

Platinum price may reach $2 200/oz by mid year - Northam 

By: Matthew Hill     13th February 2008 JSE-listed Northam Platinum, which operates the deepest platinum mine globally, said on Wednesday that prices for the metal could surge to levels as high as $2 200 /oz by mid-year, and that sister metal rhodium could hit $9 000/oz, as supply worries plagued the market. Platinum hit new record... 

Podcast - February 13, 2008 

By: Sheila Barradas     13th February 2008 In this week’s podcast: Anglo Platinum may shed up to 150 000 oz of platinum because of the power crisis; and BHP Billiton hold extensive consultations with its shareholders over the Rio Tinto bid. 

Platinum major expects prices to soften 

By: Matthew Hill     11th February 2008 World number-one platinum producer Anglo Platinum (Angloplat) joint acting CEO Norman Mbazima said on Monday that he expected the price of the metal, which has hit new highs this year, to "soften a bit", without saying by how much. The price of platinum, used in diesel autocatalysts,... 

Angloplat may shed 150 000 oz in 2008 

By: Matthew Hill     11th February 2008 Platinum mining giant Anglo Platinum, which has already shed 30 000 oz of the metal because of South Africa's electricity shortage, said on Monday that this could increase to as much as 150 000 oz. Before the power crisis bit, the miner was on track to produce 2,55-million ounces of the... 

De Beers reports lower sales but expects demand to keep 2008 prices buoyant 

By: Christy van der Merwe     8th February 2008 The world's largest diamond-miner, De Beers said on Friday the worsening economic conditions the US were expected to continue to impact on diamond sales, but that strong demand from China, India and the Middle East would keep prices buoyant in 2008. The company, which said on Friday it... 

On-The-Air (08/02/2008) 

By: Terence Creamer     8th February 2008 In this week's broadcast: 'Heavenly intrigue' with a Russian official having seemingly 'outed' a secret SA space programme; Eskom offering tariff incentive for early delivery of cogeneration capacity; Concerns about the longevity of current investment-led boom in... 

AngloGold Ashanti embarks on asset review  

By: Olivia Soraya Spadavecchia     7th February 2008 South African gold producer AngloGold Ashanti CEO Mark Cutifani said on Thursday that the company had commissioned an asset portfolio review in order to improve operational performance. "We are not delivering to our full potential," Cutifani, who has now been at the helm of AngloGold... 

Podcast - February 06, 2008 

By: Desislava Tzoneva     6th February 2008 In this weeks podcast: Diversified miner BHP Billiton offers 3,4 of its own shares for each Rio Tinto share in its takeover proposal; diversified mining giant Anglo American CEO Cynthia Carroll says that Africa’s mining industry has a decade of possibilities to look forward to; and the DRC... 

Mining Weekly Editor Martin Creamer in conversation with Madupi Makhamele, host of ‘The Editors’, a show broadcast nationally on SAfm 

By: Martin Creamer     4th February 2008 Mining Weekly Editor Martin Creamer in conversation with Modupi Makhamele, host of ‘The Editors’, a show broadcast nationally on SAfm every Sunday morning and dedicated to analysis of the news of the week. This week has a strong focus on South Africa’s electricity crisis.... 

Bravo's coal, long-lead contracts within six months - Eskom 

1st February 2008 Embattled power utility Eskom confirmed on Friday that it planned to conclude contracts for both the coal and the long-lead items for its R80-billion-plus ‘Project Bravo' coal-fired power station within the next six months and begin construction immediately thereafter. 

On-The-Air (01/02/2008) 

By: Martin Creamer     1st February 2008 In this broadcast: Eskom has 10 000 MW of electricity to spare at night; Eskom might have to consider hiring power generating barges; Also, an innovative plan to install an huge array of large mirrors in N Cape to turn sunlight into 100 MW of electricity. 

SA’s golden era as one of world’s top gold producers ending 

By: Matthew Hill     31st January 2008 South Africa’s gold mining production could drop to levels below the 200 t mark this year, levels last seen about 100 years ago, owing to the power crisis that is set to plague it deep into the year. This information came after reports that China swiped South Africa’s long-held title... 

Gold Fields to review all local capital operations, may cut jobs 

By: Matthew Hill     31st January 2008 Gold Fields, South Africa’s second-largest gold producer, said it would be doing a review of all its capital operations in South Africa in light of the current power crisis.  

Podcast - January 30, 2008 

By: Christy van der Merwe     30th January 2008 In this week’s podcast: Mining companies express their confidence in South Africa, despite power constraints; South Africa introduces a new plan to stabilise its electricity system and Harmony Gold says may extract gold from tailings dams at its Welkom operations. 

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