R/€ = 16.81 Change: -0.01
R/$ = 15.70 Change: -0.05
Au 1862.02 $/oz Change: 2.25
Pt 956.00 $/oz Change: -9.00

Latest Videos

South African steel products maker to open shop in India 

By: Brindaveni Naidoo     29th August 2008 A local manufacturer of steel products for the mining industry VR Steel reports that it will set up shop in India from January next year, making this the company’s fifth global operation. The company has appointed an Indian national who will work directly from VR Steel’s offices in Delhi, the... 

Asbestos-related disease sufferers receive R147,5m 

By: Brindaveni Naidoo     29th August 2008 There are many undetected diseases in the pipeline and we need to protect young people from further exposure to asbestos, argued Brian Gibson, chairperson of the asbestos-related diseases compensatory fund, the Kgalagadi Relief Trust, at an asbestos regulations workshop, held in Johannesburg,... 

Implats probably ‘over used’ power in past, eyeing 40-45 MW saving – CEO 

By: Martin Creamer     28th August 2008 World number-two platinum producer Impala Platinum had “probably over used power in the past” and was currently working towards cutting consumption of Eskom electricity by “a significant” 40 to 45 MW, Implats CEO David Brown told Mining Weekly Online in an exclusive interview on Thursday after... 

Daily podcast – August 28, 2008 

By: Shannon de Ryhove     28th August 2008 In today's podcast: Imperial Holdings anticipates another weak performance for the financial year ahead, increased government spend and Eskom infrastructure expenditure is expected to continue driving sales growth for ARB and, Implat's confirms a death at the Number 10 shaft.  

Daily podcast – August 27, 2008 

By: Shannon de Ryhove     27th August 2008 In today's podcast: Trevor Manuel says high levels of indebtedness are a strain on the economy, new private power generation capacity should be managed by a professional entity independent from Eskom and, China might have to build from 40 000 to 50 000 skyscrapers by 2025 to meet the needs of the... 

Daily podcast – August 26, 2008 

By: Shannon de Ryhove     26th August 2008 In today's podcast: Transnet CEO Maria Ramos denies newspaper reports that the group had secretly sold a part of the sea, sea shore or seabed to foreigners, Northam Platinum could produce at full capacity of some 400 000 tons a month from its Booysendal project from 2014/15 and, Gold Fields CEO... 

'Powered' Coega smelter viable, 'all for' using its SA coal for power – Rio Tinto  

By: Martin Creamer     26th August 2008 The construction of an aluminium smelter at Coega in South Africa was a “viable opportunity” with power and the company was “all for” supporting the development of a power generation plant from its “attractive” energy coal discovery in South Africa’s Limpopo province, Rio Tinto CEO Tom Albanese... 

Gold price of $2 000/oz-plus needed to replace infrastructure – Gold Fields 

By: Martin Creamer     25th August 2008 A gold price of more than $2 000/oz would be required to replace Gold Fields’ infrastructure, said the company’s CEO Nick Holland on Monday. In announcing gold reserves of 82,8 Moz, 80% of which were in South Africa, Holland said that Gold Fields mines could not be replaced anywhere in the world... 

Northam studies alternative power sources for Booysendal project 

By: Matthew Hill     25th August 2008 Precious metals producer Northam Platinum could produce at full capacity of some 400 000 t/m from its newly acquired Booysendal project from 2014/15, an official said on Monday. One feature that its bankable feasibility study (BFS) on the project, which is currently under way, would interrogate... 

Daily podcast – August 25, 2008 

By: Shannon de Ryhove     25th August 2008 In today's podcast: growth in world trade slowed in the second quarter of this year, Futuregrowth raises R140-million from institutional investors and, the Australian Competition & Consumer Commission warns that a merged BHP Billiton and Rio Tinto might be able to influence global iron-ore supply... 

Nov 30 funding target will be hit despite market turn – Anooraq 

By: Martin Creamer     25th August 2008 Toronto and Johannesburg-listed platinum junior Anooraq is confident of hitting its November 30 Lebowa financing target despite resources markets being “in liquidation mode”, says Anooraq Resources business development head Joel Kesler. Kesler says Anooraq’s strategy is “to raise the right... 

Daily podcast – August 22, 2008 

By: Guy Copans     22nd August 2008 In today's podcast: SA will put in place measures to ensure that diverse energy resources are available to the economy, the conversion of electric geysers to solar-powered geysers by Eskom is "not working well" and, ERPM gold mine is "very close" to break even. 

Golden metal prices failing to float golden galleons  

By: Esmarie Iannucci     22nd August 2008 The golden gold price should be lifting all boats, but it’s not. 

Anglo Fund channels 46% of grants into education, human resources development 

By: Brindaveni Naidoo     22nd August 2008 Diversified mining giant Anglo American’s Chairman Fund, a corporate social investment (CSI) arm of the company, celebrates 34 years of investment in South Africa this year. The company’s CSI investment is valued at R288-million for 2007, of which the Chairman’s Fund issued 297 grants valued at... 

Troubled ERPM now ‘very close’ to break even – DRDGold 

By: Martin Creamer     21st August 2008 The troubled deep-level ERPM gold mine was “very close” to break even after eliminating water pumping costs and laying off 239 people, DRDGold CEO-designate Niel Pretorius said on Thursday. Pretorius said that the age-old Boksburg gold mine had succeeded in a government-backed water-plugging... 

Daily podcast – August 21, 2008 

By: Shannon de Ryhove     21st August 2008 In today's podcast: a "big drop" in the petrol price is expected in September, Pallinghurst lists on the main board of the JSE and, Government completes audits on all the 300-plus high-risk mines. 

Daily podcast – August 20, 2008 

By: Shannon de Ryhove     20th August 2008 In today's podcast: 143 new buses will move along the Rea Vaya BRT system for the Confederation Cup in 2009, PetroSA will appoint an engineering partner for the construction of its planned crude oil refinery at Coega at the beginning of October and, Pan African Resources expects output from its... 

'Critically vital' platinum 'misunderstood' metal – Gilbertson 

By: Martin Creamer     20th August 2008 Platinum-group metals (PGMs) were a “very much misunderstood” group of metals that “the world just wouldn't operate without", platinum mining doyen Brian Gilbertson said on Wednesday at the listing of his new Pallinghurst Resources company on the main board of the Johannesburg Stock Exchange... 

Pan African expects increased gold output from Barberton mines in ‘09 

By: Chanel de Bruyn     19th August 2008 Gold junior Pan African Resources expects output from its Barberton mines to pick up in the 2009 financial year, targeting production of between 95 000 oz and 100 000 oz for the period. The company, in which diversified miner Metorex has a 55% stake, has a production target of 500 000 oz/y by 2012. 

Daily podcast – August 19, 2008 

By: Shannon de Ryhove     19th August 2008 In today's podcast: The South African National Taxi Council says that the proposed bus rapid transit system in Gauteng should be put on hold, Zimbabwe's annual inflation jumped to 11,27-million percent in June and, BHP Billiton says that a merger with Rio Tinto makes more sense than ever. 

Daily podcast – August 18, 2008 

By: Shannon de Ryhove     18th August 2008 In today's podcast: some southern African countries launch a free trade zone, Graham Briggs says that Harmony's billion tons of tailings in the Free State could produce gold at a cost as low as R100 000/kg and, Pamodzi Gold is desperate to raise $50-million. 

Billion tons of surface tailings can yield gold at low R100 00/kg cost – Harmony 

By: Martin Creamer     15th August 2008 Harmony Gold’s billion tons of tailings in the Free State could produce gold at a cost as low as R100 000/kg, Harmony Gold CEO Graham Briggs said on Friday, as the gold price threatened to settle below R200 000/kg, its lowest level since December.  

Daily podcast – August 15, 2008 

By: Shona Kohler     15th August 2008 In today's podcast: South Africa's central bank hold's its repo rate steady at 12%, some 400 workers at Union Carriage and Wagon go on strike and, Exxaro says it will "definitely see much stronger" results for the second half of 2009. 

Exxaro sees better second-half on improved coal output  

By: Matthew Hill     14th August 2008 JSE-listed Exxaro on Thursday said that it would “definitely see much stronger” results for the second half of 2009, as it raised coal output by “a couple of million tons”. Outgoing COO Mike Kilbride said that the company’s coal division, its biggest revenue source by far, would have a... 

Daily podcast – August 14, 2008 

By: Shannon de Ryhove     14th August 2008 In today's podcast: South Africa will have to pay more than R2-billion extra for the 2010 FIFA World Cup host stadiums, Deputy Finance Minister Jabu Moleketi expects Standard & Poor's and Fitch Ratings to follow Moody's in downgrading Eskom's credit rating and, Lonmin voices its rejection of... 

Daily podcast – August 13, 2008 

By: Shannon de Ryhove     13th August 2008 In today's podcast: Africa's telecommunications industry will shift from being mainly market-driven to being more policy driven, Transnet has included an option to possibly extend the procurement for 212 diesel locomotives to 400 and, Sentula Mining said that it was probing "the intent behind"... 

We’re ‘well ahead’ in global mine-truck monitoring by satellite – Bell 

By: Martin Creamer     13th August 2008 Indigenous South African mining equipment manufacturer Bell is “well ahead” of its global competitors in telematics, CEO Gary Bell says of his company’s proprietary advances with the satellite transmission of computerised truck-maintenance information. 

‘Abnormal’ BEE needs to be ‘revisited’, Pamodzi Gold’s Ntsele urges 

By: Martin Creamer     12th August 2008 South Africa needed to revisit the country’s black economic empowerment (BEE) practices for the sake of job creation and entrepreneurship, Pamdozi Gold chairperson Ndaba Ntsele said on Tuesday. Ntsele was last year involved in the creation of the $1,3-billion private equity Pamodzi Resources... 

Daily podcast – August 12, 2008 

By: Shannon de Ryhove     12th August 2008 In today's podcast: Moody's cuts Eskom's local and foreign currency ratings, Group Five says that the construction sector will remain strong for the foreseeable future and, more than 700 union members at the Helem diamond mine down tools to demand better wages. 

Mining Act shed jobs 'massively', downgrades mining investment – Tony Leon 

By: Martin Creamer     11th August 2008 South Africa’s Minerals and Petroleum Resources Development Act (MPRDA) had “massively” shed jobs in the mining sector and “massively” downgraded the country’s investment desirability in mining, former Opposition Leader Tony Leon MP said on Monday. 

Daily podcast – August 11, 2008 

By: Shannon de Ryhove     11th August 2008 In today's podcast: Phumzile Mlambo-Ngcuka says Africa's growth and development ambitions are threatened by its anaemic skills investment, South African unions agree to a higher pay offer of 11,5% from Telkom and, Rio Tinto files a registration statement for a proposed initial public offering for... 

Newcomer Rand Uranium ready for price-induced acquisition opportunities  

By: Martin Creamer     8th August 2008 Four-month-old Rand Uranium had prepared itself to take advantage of acquisition opportunities arising from current uranium-price softness, CEO John Munro said on Friday. Munro told Mining Weekly Online that uranium price decline had prompted some uranium players to seek exits. “We have got to... 

Daily podcast – August 8, 2008 

By: Sheila Barradas     8th August 2008 In today's podcast: the Broadcasting Digital Migration policy provides a framework for South Africa to start the migration from analogue to digital broadcasting, government hopes to have no illiteracy in South Africa by 2015 and, the fall in South Africa's gold production continued in June. 

Valves manufacturer to grow its geographical footprint 

By: Jonathan Faurie     8th August 2008 Valve manufacturing and distribution company Insamcor, is to build on its local and African geographical footprint by reassessing the company’s distribution network.  

Daily podcast – August 7, 2008 

By: Shannon de Ryhove     7th August 2008 In today's podcast: the aggregate of the combined economies of the 53 countries in Africa collectively represent the fifth largest economy in the world, the national stayaway organised by Cosatuias likely to aggravate the slowdown in the economy and, Xstrata sign a binding heads of agreement with... 

African economies collectively world’s fifth largest – Ernst & Young 

By: Martin Creamer     6th August 2008 The aggregate of the combined economies of the 53 countries in Africa collectively represented the fifth largest economy of the world, Ernst & Young Ethiopia managing partner Zemedeneh Negatu told a surprised Africa Investor Summit in Johannesburg on Wednesday. 

Xstrata takes option on Nkwe-Genorah platinum prospects 

By: Chanel de Bruyn     6th August 2008 Diversified mining giant Xstrata has signed a binding heads of agreement with mineral resource company Genorah Resources, and its platinum mining subsidiary, Nkwe Platinum, granting Xstrata the option to acquire a maximum of 50% interest in five platinum group metals (PGM) properties on the... 

Daily podcast – August 6, 2008 

By: Shannon de Ryhove     6th August 2008 In today's podcast: Tenders for a R5-bn-plus investment by Eskom into flue gas desulphurisation technology for its Kusile power station are being finalised, Sandton City begins its transformation and, Eskom signs a letter of intent with Anglo Coal South Africa to supply Kusile power station with... 

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