R/€ = 16.78 Change: 0.03
R/$ = 15.66 Change: 0.00
Au 1861.86 $/oz Change: 2.09
Pt 957.00 $/oz Change: -8.00

Latest Videos

Still significant upside for gold - Agnico-Eagle's Boyd 

By: Liezel Hill     9th March 2008 Canadian gold-miner Agnico-Eagle Mines, which is bringing five new gold mines into production over the next two years, expects the gold price to continue to strengthen as investment demand for the yellow metal grows, CEO Sean Boyd said on Friday. “We don't sense that the broader... 

Daily podcast - March 07, 2008  

By: Shannon de Ryhove     7th March 2008 In today's podcast: South Africa will allow mines to increase power consumption to 95%, ANC president Jacob Zuma calls for common ground on affirmative action, Gautrain ensures power for it's tunnel boring machine, and cabinet approves the R8,6-billion Moloto rail-road corridor... 

On-The-Air (07/03/2008) 

By: Martin Creamer     7th March 2008 In this broadcast: Tongaat-Hulett says that failure to use sugar cane wast for electricity generation is "criminal"; Grinrod calling on government to privatise parts of its troubled rail network; Prison privatisation under way in SA with five new prisons. 

In 5 years, won't be ‘black' companies, only ‘South African' companies, says Pamodzi Gold's Ntsele 

By: Martin Creamer     7th March 2008 In five years, South Africans would no longer be referring to "black companies", but only to "South African companies", says Pamodzi Gold chairperson Ndaba Ntsele. Pamodzi Gold has grown from a company producing 20 000 oz of gold to one producing 420 000 oz in 24 months.... 

New diamond regulation head calls for ‘fearless aggression’ as he attacks Antwerp beneficiation thwarters 

By: Martin Creamer     7th March 2008 New South African Diamonds and Precious Metals Regulator head Steve Phiri has called for “fearless aggression” in Africa’s fight against global vested interests intent on thwarting local diamond beneficiation on what was still denigrated as “the Dark Continent”. At... 

Daily podcast - March 06, 2008 

By: Shannon de Ryhove     6th March 2008 In today's podcast: Eskom intensifies research, development and innovation efforts, the ruling ANC slams as irresponsible Eskom's announcement that it will delay new projects requiring more than 100- kVA of power, and Rio Tinto says consolidation and operating on a larger scale... 

Bigger is better, says Rio's Albanese 

By: Liezel Hill     6th March 2008 Consolidation and operating on a larger scale were important considerations for mining companies to continue to meet the challenges of growing demand for their products, high input costs and competition for exploration ground, Rio Tinto CEO Tom Albanese said on Wednesday. “Scale really does... 

Podcast - March 05, 2008 

By: Shannon de Ryhove     5th March 2008 In this week’s podcast the State Diamond Trader is formed to buy up to 10% of South Africa’s diamond production for local beneficiation, and ferrochrome producer Merafe Resources investigates the economic feasibility of cogeneration 40 MW of electrical power. 

PTM taps N American experience to optimise SA project 

By: Liezel Hill     4th March 2008 Vancouver-based Platinum Group Metals (PTM) plans to take a more “North American” approach to the rates of advance in the declines at its Western Bushveld Joint Venture (WBJV) platinum project, president and CEO Michael Jones said on Tuesday. PTM is the operator of the project, which... 

SA-focused coal firm lists in Toronto 

By: Liezel Hill     4th March 2008 British Virgin Islands-based Homeland Energy Group, which is waiting for government go-ahead to start mining at its Kendal operation, in South Africa, will debut on the TSX on Wednesday. The company expects to receive its mining licence for the Kendal mine “in the next couple of... 

Mining consolidation could (and should) gain pace – expert 

By: Liezel Hill     4th March 2008 Consolidation of the global mining industry can be expected to continue, and more than likely at an accelerated pace in the current environment of high metals prices and input costs, Raw Materials Group president Magnus Ericsson commented on Monday. “We will see increasing corporate... 

More chrome could leave South Africa unbeneficated because of power 

By: Matthew Hill     3rd March 2008 South African exports of raw chrome ore rose by in excess of 55% in 2007, which was "killing jobs and killing revenue", JSE-listed Merafe Resources CEO Steve Phiri said on Monday, adding that the country's power crisis could worsen the situation. Merafe Resources, which partnered... 

Miners opposing State’s plan to buy 10% SA output ‘selfish’ – DME  

By: Matthew Hill     29th February 2008 The Department of Minerals and Energy (DME) on Friday hit out at unnamed diamond producers that were resisting legislation that gave government the power to buy 10% of all locally mined gems, calling them "selfish". DME DG Sandile Nogxina said that the mining companies that were taking... 

State Diamond Trader officially launched 

By: Matthew Hill     29th February 2008 The State Diamond Trader (SDT), which government formed to buy up to 10% of South Africa's diamond production to sell to local cutters and polishers, has until June this year to prove itself financially self sustainable, an official said at its official launch on Friday. Further, the... 

On-The-Air (29/02/2008) 

By: Martin Creamer     29th February 2008 In this broadcast: Eskom opening the door to private sector of the next big coal-fired power station; Eskom has no less then 17 power projects underway; Cogeneration power projects are on the lips of most industrial managers as intense power consciousness sweeps across SA. 

Mining rights a big issue for us, says Sipho Nkosi 

By: Martin Creamer     29th February 2008 Mining rights continue to be a big issue for Exxaro Resources, says CEO Sipho Nkosi. Nkosi says that Exxaro has had discussions this year with the Department of Minerals and Energy (DME) and new applications have also been made to the DME. “We are very hopeful and optimistic that those will... 

Power crisis won’t hinder Dilokong chrome expansion, says COO 

By: Leandi Kolver     29th February 2008 ASA Metals, a joint venture between Eastern Asia Metals Investment, of China, and the Limpopo Economic Development Enterprise, of South Africa is expanding its Dilokong chrome mine. 

Needham confident about Metorex's standing in DRC, Zambia 

29th February 2008 Once again proving that Africa is not for sissies, South African miner, Metorex's CEO Charles Needham last week explained the firm's interactions with the governments of the Democratic Republic of Congo (DRC) and Zambia, where it operates copper mines, and assured investors that he felt... 

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... 

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