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Mining News

Parliamentary chairs respond to mining Bill concerns

24th June 2002 The joint chairs of the parliamentary committees on minerals and energy, Mosheen Moosa and Mbulelo Goniwe, have given details of amendments to the Minerals and Petroleum Development Bill. 

Gold firm moves towards US listing

24th June 2002 Gold company Randgold Resources has announced that it has filed a registration statement with the US Securities and Exchange Commission with the intention of listing in that country. 

$30m manganese-beneficiation plan

21st June 2002 Mineral research body Mintek is planning to capitalise on South Africa’s standing as the host of about 80% of the world’s known reserves of high-grade manganese ore. 

Sierra Leone looks to restart titanium mine

21st June 2002 Sierra Leone's titanium ore mine, shut by a brutal war in 1995, is looking for a $114-million World Bank loan to restart work at the biggest known rutile deposit within a year, the mines minister said. 

Canada PGM resource results by Sept

21st June 2002 Toronto Stock Exchange-listed Pacific North West Capital has reported assay results from nine additional holes on the River Valley platinum-group metals (PGM) property in Canada. 

Japan buyers cool on Russian palladium

21st June 2002 For years, Russia has exasperated Japanese importers with erratic palladium shipments. Now the shoe is on the other foot. 

Gold company merger next month

21st June 2002 JSE Securities Exchange-listed companies Consolidated African Mines Ltd (CAM) and JCI Gold expect a “dramatic improvement” in their financial results in the coming year, once the two companies have been merged into a new listed entity called JCI Ltd. 

Tanzanite miner offers support following disaster

21st June 2002 The vertically integrated coloured gemstone company Afgem, which has mining licence over Block C, Merelani in Northern Tanzania, has expressed its regret and dismay at the mining disaster that occurred on neighbouring Block B yesterday morning. 

Minerals department defends Bill

21st June 2002 Department of Minerals and Energy DG Sandile Nogxina has strongly defended government's proposed minerals legislation currently in front of parliament. 

PGM miner gets enviro approval for project

21st June 2002 Aquarius Platinum South Africa has received full approval of its environmental management programme (EMP) for operations at Marikana the Department of Minerals and Energy (DME). 

Support for Ghana miner’s debt restructuring

20th June 2002 African gold miner Ashanti Goldfields has won the backing of most of its bondholders for a life-saving debt-restructuring. 

Resources firm exits uranium

20th June 2002 A subsidiary of global mining giant BHP Billiton has reached an agreement for the sale of its wholly-owned Smith Ranch uranium mine in Wyoming, USA, to Cameco Corporation of Canada. 

China’s iron-ore import surge continues

20th June 2002 The iron-ore story of the last few years has been the story of Chinese imports. While steel companies around the world have been rationalising, China’s steel-sector restructuring has centered on improving quality – a strategy that depends significantly on imported ores. 

Platinum, gold remain strong

20th June 2002 A weak stock market and tumbling dollar kept gold looking strong Wednesday, in a trade influenced by investor jitters about a new cycle of Palestinian attacks and Israeli retaliation. 

Zambia raises funds to run Konkola

19th June 2002 President Levy Mwanawasa said Zambia has found the money to run the country’s troubled Konkola Copper Mines (KCM) until May 2003 when a new investor will take them over, Zambian newspapers reported. 

Big backing for Moz heavy-minerals project

19th June 2002 Australian diversified miner WMC said the World Bank had indicated support for development of the vast Corridor Sands resource in the southern African nation of Mozambique. 

Australians pursue Egypt tantalum, niobium deposit

19th June 2002 The Australian company Gippsland has embarked on a full bankable feasibility study for its Abu Dabbab tantalite project in Egypt. 

Slow civil-engineering recovery is hurting industrial-minerals sector

By: Deborah Spicer     17th June 2002 What was the R4,2-billion industrial-minerals sector two years ago is likely to continue or even decrease its modest contribution to South Africa's gross domestic product (GDP) despite indications that the civil-engineering sector, with which it is associated, is showing a turnaround. 

Zambia uncertainty could hurt DRC copper – analyst

17th June 2002 Uncertainty in Zambia’s copperbelt, fuelled by Anglo American’s withdrawal from a troubled mining venture, is expected to dampen copper prospects in neighbouring Democratic Republic of Congo, a metals analyst said. 

SA govt seeks to calm fears over mining Bill

17th June 2002 The South Africa government tried to reassure mining firms about the duration of licences it will award under a controversial new Bill aimed at redressing centuries of white domination of the sector. 

Chile copper giant new refinery has 800 000t/y capacity

17th June 2002 The world’s biggest copper producer, Codelco, said its planned $1-billion refinery in Chile would have an initial production capacity of 800 000 tons of refined copper starting in 2005. 

New partner to finance Lesotho diamond project

By: Zonika Botha     14th June 2002 As part of the restructuring of the greater JCI/CAM group of companies, mining giant JCI will acquire a 40% stake, valued at about R164-million, of the Letseng diamond project in Lesotho. 

Gencor unbundling expected only after Aug

14th June 2002 South Africa’s Impala Platinum said it would seek shareholder approval for a general share buyback as the sale of a major shareholder’s stake in the world’s second-largest producer appeared imminent. 

$18m raised for Zambian copper project

14th June 2002 Canadian mining company First Quantum has concluded a $18-million debt financing facility for its Bwana Mkubwa expansion project in Zambia. 

Govt takes action to grow black and junior mining

14th June 2002 As part of the requirements of implementing the Minerals and Petroleum Resources Development Bill, the Department of Minerals and Energy is introducing a new licensing system for the minerals and mining industry, called the National Minerals Promotion System (NMPS). 

Cameroon selling 90% of rutile concession

13th June 2002 The West African state of Cameroon is putting 90% of the Akonolinga retile project up for sale. 

Gold rush fuelling mine deaths – mine inspector

13th June 2002 A spate of deaths in South African gold and platinum mines could be related to a surge in metals prices prompting firms to ramp up output, the country’s chief mine inspector and a major trade union said. 

Mines chamber worried about Bill

13th June 2002 Chief Executive of the Chamber of Mines of South Africa, Zoli Diliza, told parliament that while the industry supported the key objectives of the Bill, the chamber has concerns regarding its capacity to promote a prosperous, accessible, competitive and responsible mooning industry in South Africa. 

Asbestos claim in way of platinum deal

12th June 2002 It is too early for struggling gold producers to get complacent about the recent strength in bullion prices, because the industry cannot sustain itself over the long haul if gold stays under $350 an ounce, the chief executive of the world’s largest gold mining company said. 

Gold major says industry needs $350/oz price

12th June 2002 Lawyers representing South African miners suffering from asbestos-related diseases vowed to stop a major mining share sale in a bid to pursue claims against South African holding company Gencor. 

Copper production cost to stop decline

12th June 2002 A new cost report from Sydney-based research house AME Mineral Economics reveals how there is going to be a pause in the long-term trend for copper’s cash production costs to decline in real terms, after having fallen by an average of 8% per year over the period 1997 to 2001. 

Gem giant has R8bn SA plan if enviro is stable

12th June 2002 Diamond giant De Beers has shown its continued commitment to South Africa when the company announced that it is planning to make an investment of R8-billion in expansion projects in South Africa over the next five years. However, De Beers director Jonathan Oppenheimer said that the company needs... 

Unions say mining reform law is too conservative

12th June 2002 South African labour unions blasted as too conservative a draft law to shift mineral rights from private to state ownership, which the industry has labled creeping nationalisation. 

Brazilian miner teams up on Peru deal

11th June 2002 One of Chile’s largest copper producers, Antofagasta and Brazil’s Companhia Vale do Rio Doce (CVRD) said they will join forces to explore a promising region of southern Peru that could yield copper and gold. 

Unions add voice to Minerals Bill debate

11th June 2002 Upping the Minerals Development Bill ante, trade union federation Cosatu, and its powerful affiliate National Union of Mineworkers (Num), is to call for mining companies to submit a labour plan as part of their obligation for mineral rights. 

UK exploration firm appoints new director

11th June 2002 UK firm Cluff Mining announced that Timothy Wadeson has been appointed as its non-executive director. 

Copper production cutbacks update

11th June 2002 The mining industry has been cutting copper production since 2001 in an attempt to strengthen prices, and Reu 

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