R/€ = 16.80 Change: 0.01
R/$ = 15.68 Change: -0.02
Au 1862.30 $/oz Change: 2.53
Pt 957.50 $/oz Change: -7.50

Latest Videos

Daily podcast – August 5, 2008 

By: Shannon de Ryhove     5th August 2008 In today's podcast: Absa signs a five-year R1,7-billion wide-area network deal with fixed-line telecom operator Telkom, Tongaat Hulett says that it could generate up to 266 MW of power in three years' time and, South Deep gold mine has switched to fully mechanised mining. 

South Deep now fully mechanised deep-level gold mine 

By: Martin Creamer     4th August 2008 The South Deep gold mine has switched to fully mechanised mining and has ceased conventional mining entirely, outgoing Gold Fields COO Terence Goodlace tells Mining Weekly Online. Goodlace says the use of highly mechanised equipment includes mechanised destressing of the massive South Deep... 

Daily podcast – August 4, 2008 

By: Shannon de Ryhove     4th August 2008 In today's podcast: Nersa grants Transnet an increase in allowable revenue of 7,73%, Gold Fields closes Kloof mine for 6 months for safety reasons and, Sasol hedges about 30% of its planned local synthetic fuels production. 

Gold Fields takes short-term production knock to tackle safety record 

By: Matthew Hill     1st August 2008 Gold Fields sank to a new 12-month low on the JSE on Friday, after it reported that it was taking even more short-term production pain in favour of improving safety at its operations, with the six-month closure of the main shaft at its key Kloof mine. The move would cost it in the order of 500... 

Daily podcast – August 1, 2008 

By: Hilary Klopper     1st August 2008 In today's podcast: the Big Business Working Group highlights ongoing discussions to accelerate processes towards cogeneration and the introduction of independent power producers, Sasol's Inzalo BEE public share scheme is almost four times oversubscribed, and AngloGold Ashanti has for the first... 

Safety milestone as AngloGold marks first fatality free quarter 

By: Matthew Hill     31st July 2008 AngloGold Ashanti has for the first time in its 100-year history gone 110 days without a death at its mines, which employ 60 000 people globally. CEO Mark Cutifani said that this was an important milestone that demonstrated that “we can operate in South Africa without fatalities”, but that the... 

‘Misplaced’ perceptions hurt SA-listed miners, says AngloGold CEO 

By: Matthew Hill     31st July 2008 AngloGold Ashanti is trading at about half the value of an equivalent North American-listed producer, partly owing to “misplaced” negative perceptions of South Africa, CEO Mark Cutifani told Mining Weekly Online on Thursday. Australian-born Cutifani, in fact, seemed far more upbeat about... 

Daily podcast – July 31, 2008 

By: Shannon de Ryhove     31st July 2008 In today's podcast: ArcelorMittal South Africa will roll over its prices in September, South Africa's targeted CPIX inflation accelerated to a new record high in the year to June, and the South African platinum mining industry was expanding "too rapidly". 

ArcelorMittal SA eyes more exposure to raw materials 

By: Matthew Hill     30th July 2008 Africa’s biggest steelmaker, ArcelorMittal South Africa, on Wednesday said it was keen on gaining greater exposure to the raw materials that it used, and that coal was “definitely an immediate interest”. The company would also have a gap in its iron-ore supply by 2012, when it reached its... 

Daily podcast – July 30, 2008 

By: Shannon de Ryhove     30th July 2008 In today's podcast: DTI DG Tshediso Matona gave a solid stamp of approval to Vodacom's recently announced BEE deal, South Africa's competition authorities reiterated in Parliament their now well-known objection to a proposed amendment to the Competition Act, and Teck Cominco estimates its... 

AECI expects demand from mines to remain robust 

By: Chanel de Bruyn     29th July 2008 Continued growth in the global mining industry would continue to benefit chemicals and explosives firm AECI in future, CEO Graham Edwards commented on Tuesday. He explained that while some might say the global mining industry was slowing down, this referred more to the share price of mining... 

Village Main to call extraordinary general meeting - Swanepoel 

By: Martin Creamer     29th July 2008 The reviving Village Main Reef would call an extraordinary general meeting (EGM) “soon” at which shareholder permission would be sought to increase the company’s authorised share capital and to place shares for cash, To The Point director and former Harmony Gold CEO Bernard Swanepoel said on Monday. 

Daily podcast – July 29, 2008 

By: Shannon de Ryhove     29th July 2008 In today's podcast: South Africa and Nigeria have the responsibility to pull Africa out of poverty and political instability, Cabinet has mandated the National Treasury to investigate the possible imposition of a tax on carbon-dioxide emissions, and Angloplat reaffirms its controversial... 

Zimbabwe is of ‘strategic importance’ to Angloplat, says CEO 

By: Matthew Hill     28th July 2008 Platinum-miner Anglo Platinum (Angloplat) on Monday reaffirmed its controversial commitment to developing the Unki project in Zimbabwe, with new CEO Neville Nicolau saying the country was strategically important for the company’s growth plans. He commented that Angloplat did not “hang its future... 

Daily podcast – July 28, 2008 

By: Shannon de Ryhove     28th July 2008 In today's podcast: South Africa has reviewed and removed import duties on key inputs for manufacturers, Petroline is still hoping to deliver its crucial petroleum products pipeline from Maputo to Nelspruit around the time of the FIFA 2010 World Cup, and De Beers officially opened its first mines... 

Daily podcast – July 25, 2008 

By: Christy van der Merwe     25th July 2008 In today's podcast: Lafarge will finance a new R40m 20-MVA, 132-kV bulk power supply at the proposed Middelvlei substation, extended rail expansion negotiations between Kumba Iron Ore and Transnet have pushed production at Sishen South back by a year, and Teck Cominco expects that the zinc market... 

Zinc surplus may be lower than forecast on shutdowns - Teck's Lindsay 

By: Liezel Hill     24th July 2008 Vancouver-based Teck Cominco expects that the zinc market surpluses for both 2008 and 2009 will likely be smaller than currently being forecast, partly because lower prices may force mines to close prematurely, president and CEO Don Lindsay said on Thursday. Zinc prices have fallen sharply over... 

Transnet rail expansion talks delay Sishen South by a year - KIO 

By: Matthew Hill     24th July 2008 Extended rail expansion negotiations between Kumba Iron Ore (KIO), Africa’s biggest iron-ore miner, and State-owned Transnet have pushed production at its nine-million ton a year Sishen South project back by a year, to 2012, the Anglo American subsidiary said on Thursday. The project would now... 

Daily podcast – July 24, 2008 

By: Shannon de Ryhove     24th July 2008 In today's podcast: Solidarity has requested an investigation into Investec's claim that the South African inflation rate was miscalculated and should be 2% lower, investment holding company VenFin officially launched its early stage intellectual property venture capital fund InVenFin, and South... 

Daily podcast – July 23, 2008 

By: Shannon de Ryhove     23rd July 2008 In today's podcast: industrial, mining and property investors are still in a state of confusion over Eskom's approach to new electricity connections, the number of mining engineering-specific graduates is still shockingly low, and shareholders in fraud-clobbered JCI and Randgold & Exploration... 

Daily podcast – July 22, 2008 

By: Shannon de Ryhove     22nd July 2008 In today's podcast: national Treasury is "comfortable" with its 4% average growth forecast for 2008, the US, the EU and emerging economic heavyweights will try again to line up the long-elusive trade-offs needed to save a deal to dismantle export barriers around the world, and Transnet Freight... 

Daily podcast – July 21, 2008 

By: Shannon de Ryhove     21st July 2008 In today's podcast: National Treasury unveils the details of its R60-billion capital injection into Eskom, AfriSam selected the PIC as its second-biggest shareholder because it was the most supportive of its black-controlled status, and repair work has begun at Equinox Minerals' Lumwana copper... 

Daily podcast – July 18, 2008 

By: Fatima Gabru     18th July 2008 In today's podcast: Eskom provides fresh insight into its much-anticipated funding plan for a R343-billion capital expenditure programme, demand for primary energy at Eskom rose massively in 2007/8, and Burkina Faso's largest mine development, the Perkoa zinc mine, as been put on... 

Daily podcast – July 17, 2008 

By: Shannon de Ryhove     17th July 2008 In today's podcast: internet penetration in South Africa is lagging far behind telephone penetration, SAA achieves a R2-billion turnaround in its 2007/08 financial year, and the one-day strike organised by Cosatu has affected mines in the Free State and Mpumalanga provinces. 

Eskom mulls coal-supply risks as it gets set to burn up to 140mt in 2009 

By: Terence Creamer     17th July 2008 Demand for primary energy at Eskom rose massively in 2007/8 with the utility’s coal burn rising to 125,3-million tons from 119,1-million tons, and its diesel consumption spiking to 346-million litres from just 11,3-million litres in the previous year. This trend is also unlikely to be reversed... 

Newly listed Braemore also eyeing Southern African nickel opportunities 

By: Martin Creamer     16th July 2008 Twin platinum-nickel company Braemore Resources plc would “without question” also seek to apply its proprietary nickel-leaching technologies in Southern Africa in addition to Australia where they were about to be turned to positive account, Braemore acting CEO David Russell said on listing on the... 

Cleveland-Cliffs to buy coal-miner Alpha Natural, seeks further diversification 

By: Liezel Hill     16th July 2008 US iron-ore and coal producer Cleveland-Cliffs has agreed to buy coal miner Alpha Natural for about $10-billion in cash and shares. Cleveland-Cliffs is the largest producer of beneficiated iron ore pellets in North America and, after the tie-up, the company will hold the distinction of the... 

Daily Podcast - July 16, 2008 

By: Hilary Klopper     16th July 2008 In today's podcast: Manuel denies being opposed to industrial policy, as OECD slates the plan, US courts Africa before Doha round meeting and Harmony workers down tools after fatal accidents. 

Windfall-tax spectre resurfaces as OECD releases SA report 

By: Terence Creamer     15th July 2008 The spectre of the possible imposition of windfall taxes on South African resources companies has been raised again in a new economic assessment of the country by the Organisation for Economic Cooperation and Development (OECD). The 140-page study, which was released jointly by OECD... 

South Africa less attractive as investment destination – Ernst & Young mining head 

By: Martin Creamer     15th July 2008 South Africa was seeing a downturn in its attractiveness as an investment destination, Ernst & Young mining sector leader Adrian Macartney said on Tuesday.  

Daily podcast – July 15, 2008 

By: Shannon de Ryhove     15th July 2008 In today's podcast: the PIC approves a financing package worth R6-billion for AfriSam, the Johannesburg inner city's UDZ tax incentive will be extended for another five years, and the smelting technology deal that the London-listed Braemore Resources has struck with South Africa's state-owned... 

‘Significant’ financial losses after technical glitch delays opening of JSE 

By: Matthew Hill     14th July 2008 The JSE’s failing to open for trade until nearly 15:00 on Monday owing to technical problems entailed significant losses for the stock broking industry, for which CEO Russell Loubser apologised. “Obviously, apart from the elevated blood pressure levels, our business is about volumes, and we’ve... 

AngloGold Ashanti trims hedgebook by 39% 

By: Chanel de Bruyn     14th July 2008 South African gold major AngloGold Ashanti has reduced its gold hedge position by 39%, or 4,4-million ounces in the first half of this year, and achieved better-than-expected production and cash costs in the second quarter, the company said on Monday. The miner said it had made substantial... 

Braemore-Mintek 50%-BEE smelter deal designed to 'look after' emerging platinum miners  

By: Martin Creamer     14th July 2008 The smelting technology deal that the London-listed Braemore Resources plc had struck with South Africa's state-owned Mintek was designed to "look after" emerging South African platinum miners as the Department of Minerals and Energy did not want them to be dependent on South Africa's big-three... 

Daily podcast – July 14, 2008 

By: Shannon de Ryhove     14th July 2008 In today's podcast: the newly launched Enterprise Investment Programme could in the long-term evolve into a tool to support the agriculture industry, World Bank President Robert Zoellick expects food prices to remain above 2004 levels until at least 2012, and Gold Fields hopes to produce... 

Daily podcast – July 11, 2008 

By: Shannon de Ryhove     11th July 2008 In today's podcast: Sanral raises R2-billion through the issuance of listed bonds, increased food production is the only strategy that will help mitigate the global food crisis says Xingwana, and South Africa's gold production continued to decline in May, falling by 11,6% year-on-year. 

Helicopter company expands to support exploration 

By: Keith Campbell     11th July 2008 The booming African mining sector, driven especially by the great and growing demand from China and India, has triggered a continent-wide scramble for resources, as majors and juniors hunt for deposits of virtually every metal and mineral.  

Daily podcast – July 10, 2008 

By: Shannon de Ryhove     10th July 2008 In today's podcast: the Gautrain tunnel collapse on Oxford road will not have any significant impact on the project's schedule, Safcol investigates the possibility of producing more than 20 MW of electricity from forestry waste, and the project cost of the Kalagadi manganese project is escalating... 

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