R/€ = 16.78 Change: -0.02
R/$ = 15.85 Change: 0.01
Au 1846.20 $/oz Change: 32.81
Pt 969.00 $/oz Change: 40.50

Latest Videos

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. 

Miners say they are moving ahead with SA investment plans, despite power constraints 

By: Matthew Hill     29th January 2008 Government and industry officials insisted on Tuesday that South Africa's current electricity supply catastrophe was only temporary, and that it would not deter potential future investments. Government said that the country was still open to new investments, and that the power shortage was... 

On-The-Air (25/01/2008) 

By: Martin Creamer     25th January 2008 In this broadcast: Cogeneration - the new electricity buzzword; Japan manufacturing components for SA's promising nuclear power innovation - PBMR; The world is splashing out R100bn on a massive international nuclear experiment that mimics star power.  

Podcast - January 23, 2007 

By: Shannon de Ryhove     23rd January 2008 In this week’s podcast: China steel’s the throne as the world’s largest gold producer; Bernard Swanepoel re-emerges onto the mining scene; and Vale confirms it is in talks with Xstrata. 

On-The-Air (18/01/2008) 

By: Martin Creamer     18th January 2008 In this broadcast: Surging youth interest in studying engineering; SA's enactment of a good set of new mine water laws; Ecsa finding it impssible to cope with increasingly burdensome workload. 

Metorex finds share plunge 'bizarre' 

By: Matthew Hill     16th January 2008 JSE- and LSE-listed diversified miner Metorex said on Wednesday that the recent weakening of its share price was "bizarre", as the firm's fundamentals "have never, ever been better", but it expected that trading in its securities should stabilise after its offer to Copper... 

Podcast - January 16, 2007 

By: Irma Venter     16th January 2008 In this week’s podcast: Exxaro unveils plans to start exports of lower-grade coal to India, AngloGold Ashanti says it will consider a court challenge over export taxes in Argentina, and De Beers coughs up $295m in a settlement.  

AfroCentric in nickel, coal partnerships with Rio Tinto  

By: Matthew Hill     15th January 2008 Black-owned investment firm AfroCentric Investment Corporation, in which some of the biggest names in South African business are involved, has signed cooperation agreements with diversified mining giant Rio Tinto to partner on African nickel and coal projects, and was looking for further deals in... 

Podcast - January 9, 2008 

By: Hilary Klopper     9th January 2008 In this week’s podcast: Harmony Gold appoints Graham Briggs as CEO; South Africa’s mine safety audit gets under way; gold hits a record high and two prominent South African mining executives join an Indian-owned resources company.  

On-The-Air (14/12/2007) 

By: Martin Creamer     14th December 2007 In this podcast: Two of the world's largest mining companies investing R6bn in two large SA coal mines; Water short Namibia is resorting to the sea to supply water to a new uranium mine; Australian rail and port specialists are in SA trying to help steamline the export of manganese.  

Podcast - December 12, 2007 

By: Sheila Barradas     12th December 2007 In this week’s podcast: South Africa releases its third and final royalty bill, revising the tax base and slashing royalties on most minerals; BHP Billiton and Anglo American announce two major coal projects and Metorex unveils plans to move into platinum mining.  

Govt to do balanced assessment of mining and environmental issues in Xolobeni mine-right review 

By: Christy van der Merwe     11th December 2007 A group of about 50 peaceful protesters from the Xolobeni community, in the Eastern Cape, handed over a petition in support of the proposed heavy minerals mining project in the area, to the Department of Minerals and Energy (DME) on Tuesday. 

On-The-Air (07/12/2007) 

By: Martin Creamer     7th December 2007 In this broadcast: Transnet's purchase of 212 locos expected to get freigt back on rail; Two SA cities looking to BRT to solve their public transport problems by 2010; New Durban-to-Johannesburg petrol-pipeline has to begin early next year. 

Gifting season crucial for diamonds, says De Beers MD Penny 

By: Martin Creamer     7th December 2007 The current gifting season is crucial for diamonds, says De Beers MD Gareth Penny. Penny says that this is because 85% of diamonds are gifted from a man to a woman.  

Acquisitive diamond junior to make SA investment decisions early 2008  

By: Matthew Hill     5th December 2007 What will in January be newly combined BRC Diamond Core, to be listed on the TSX, JSE and Amex markets, will have an important first quarter in 2008, when it is set to make investment decisions on certain South African alluvial and kimberlite mines. While the man that is set to serve as CEO of... 

Podcast - December 05, 2007 

By: Olivia Soraya Spadavecchia     5th December 2007 In this podcast: South African mine workers made history as it stages a nationwide safety strike; Exxaro says it will assess downstream opportunities; and Rockwell unveils a plan to more than double its current production. 

Workers, employers should join hands to stop mine deaths - Chamber 

By: Matthew Hill     4th December 2007 Employers and mineworkers need to work together to improve safety conditions in South Africa's mines, and if the situation had not changed after Tuesday's strike, then it had been a "waste of a day", a Chamber of Mines (CoM) official said. Meanwhile, the National Union of... 

Weakening dollar hitting diamond margins, says De Beers MD Penny 

By: Martin Creamer     30th November 2007 The weakening US dollar was having a "very significant impact" on margins, De Beers MD Gareth Penny said on Friday. Also applying pressure were high costs, but only a modest rise in the diamond price. He said of the outlook for diamond sales in the run up to the crucial Christmas... 

Rockwell unveils 80 000 ct/y high-value gem plan as it makes JSE debut 

By: Matthew Hill     30th November 2007 Gem-miner Rockwell Diamonds, which debuted on the JSE on Friday, has set an ambitious target of more than doubling its current production to as much as 80 000 ct/y by 2011, CEO Dr John Bristow said. The company, which compared its high-value diamonds to those that Clifford Elphick's Gem... 

On-The-Air (30/11/2007) 

By: Martin Creamer     30th November 2007 In this broadcast: SA's paper giant Mondi eyeing Russia's softwood treasure trove; Two SA entrepreneurs developed the world's most advance piston engine for GA aircraft; Plastic dump key ingredient for "green" car. 

Podcast - November 28, 2007 

By: Keith Campbell     28th November 2007 In this podcast: A South African court approves a deal between the Richtersveld community and the State, ending a decade long legal tiff; Rio Tinto outlines growth prospects in an attempt to fend off a takeover bid from BHPBilliton; and De Beers sells its iconic Cullinan mine to a consortium led... 

SA court approves Richtersveld agreement, Alexkor to be recapitalised 

By: Matthew Hill     27th November 2007 South Africa's Public Enterprises Minister Alec Erwin said on Tuesday that it could be "interesting" to consider establishing a diamond beneficiation industry in the Richtersveld, where government has finalised an agreement with the community, after a decade-long legal tiff. He... 

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