R/€ = 16.24 Change: 0.01
R/$ = 14.50 Change: 0.03
Au 1342.70 $/oz Change: -1.46
Pt 801.39 $/oz Change: 4.13

Mining News

Platinum major reopens shaft

10th June 2002 Platinum major Impala advised that the company’s 11 shaft reopened at the weekend. 

SA gold major quashes OZ mine deal report

7th June 2002 South Africa’s AngloGold doused media speculation that it was close to making a pitch for full control of one of Australia’s largest undeveloped gold mines. 

State sets up mineral-beneficiation subsidiary

7th June 2002 State metals and minerals researcher Mintek has established a local 100% owned company, Mindev, to support the commercialisation of its technologies in industry and to enable it to be pro-active in carrying out its national mandate to facilitate greater mineral beneficiation. 

Growth strategy for mining tech firm

7th June 2002 Ever since resources giant Anglo American CE Tony Trahar ended two years of uncertainty about the future of the Boart Longyear group when he announced that the company will be retained as a core business in the group, the mining techno firm has embarked on a high-growth strategy. 

Resources firm offers $30m in Zambia exit

7th June 2002 Zambian President Levy Mwanawasa said mining giant Anglo American had offered his government $30-million to offset its withdrawal from troubled Konkola Copper Mines (KCM). 

Miners pick hole sin SA's draft minerals law

7th June 2002 Miners and oil producers are lining up in Cape Town to pick holes in the draft of a new South African minerals law, saying that plans to overhaul a white-dominated industry could scare away foreign investors. 

Coal conveyor contract awarded

6th June 2002 A turnkey contract for a 21 km overland-conveyor system at the Optimum Colliery has been awarded to Bateman by Ingwe. 

A US view on SA's mining law revamp

6th June 2002 After more than a year of painstaking revision and top-level deliberation, the government here is about to alter the balance of power in the country’s mining industry. 

Chile copper mines hit by storms

6th June 2002 Copper production has halted at the Los Bronces mine in Chile, owned by a unit of Exxon Mobil, because of a power blackout caused by the worst storms in 100 years, a company spokesperson said. 

Downgrading for two resource giants

6th June 2002 The forecast earnings for Australia’s major diversified resources companies, headed by BHP Billiton and Rio Tinto, have been downgraded by Macquarie Research Equities and Credit Suisse First Boston. 

New gold project for Chile

6th June 2002 Canadian miner Barrick Gold said it could start work on its $450-million Veladero gold project this year but will keep on hold the adjacent $1,2-billion Pascua Lama mine that straddles the Chile-Argentina border. 

Junior miners react to Minerals Bill

6th June 2002 The South African Mining Development Association (SAMDA), which represents small scale and junior mining companies countrywide, has come out in strong, overall support for the latest draft of the Mineral and Petroleum Resources Development Bill, but has requested greater specificity regarding... 

New chairperson for Platinum No 2

6th June 2002 Long-serving board member Peter Joubert has been appointed non-executive chairperson of Impala Platinum with immediate effect. 

Zim deal adds life to PGM junior

6th June 2002 Emerging platinum producer, Aquarius Platinum, has announced that it the will acquire a 50% stake in ZCE Platinum owner of the Mimosa Platinum Mine in Zimbabwe for US$39-million. 

Bursaries on offer for mining studies

5th June 2002 In order to meet the need for higher level skills in the mining and minerals sector, the Mining Qualifications Authority (MQA) through the National Skills Fund (NSF) is offering bursaries to students in related study fields. 

Nine focus areas following global mining project

5th June 2002 Now that the Global Mining Initiative has completed its work, leadership of the mining, minerals and metals industry on sustainable development is the responsibility of the International Council on Mining and Metals (ICMM), which have outlined nine areas where the industry will be developing... 

Canadians enter Bushveld platinum rush

5th June 2002 The sheer size of the Bushveld igneous complex in the north-east of South Africa, which hosts most of the world’s platinum, has attracted companies from all over the world, but particularly members of Canada‘s thriving junior mining and exploration sector. 

Gold price to arrest slide in SA gold output

5th June 2002 The spike in the price of bullion to five-year highs will slow the pace of decline in South African gold output as well as boost the country's economy, the mining industry said. 

Belgium snubs Kimberley diamond rules

4th June 2002 Belgium has said it will not loosen its stringent import control system to comply with the so-called Kimberley international guidelines aimed at curbing the illicit trade in diamonds. 

World Bank to give Zambia loan for troubled mines

4th June 2002 The World Bank will give Zambia a concessional loan to partly fund its troubled lifeblood copper mines after Anglo American withdraws, the Bank’s Vice President for Africa Callisto Madavo said. 

Ghana's mineral revenue slides

4th June 2002 President of the Ghana Chamber of Mines, James Anaman, says during the chamber’s review for the period 2000/01, it recorded a 6% decrease in minerals revenue due to challenging circumstances the local mining industry encountered both externally and internally. 

Platinum miner to close shaft after accidents

4th June 2002 World number two platinum producer Impala Platinum said it would close its 11 shaft in South Africa for several days after four workers were killed at the mine in May. 

New copper prospect for Zambia

4th June 2002 The world's second-largest copper producer, Phelps Dodge, is considering joining a joint venture with Australian minerals explorer Equinox Resources to start a new copper mine in Zambia. 

Mining in Africa's renaissance plan

By: Irma Venter     3rd June 2002 The question of whether the exploitation of Africa's mineral riches benefits Africans has been asked for decades. 

First diamonds recovered from new Kimberley plant

3rd June 2002 Twenty-five diamonds have been recovered from the new De Beers Kimberley Mines Combined Treatment Plant (CTP). 

Rerating for gold group

3rd June 2002 International ratings agency Fitch said that it has upgraded its ratings for South Africa’s third-largest gold producer Harmony gold. 

UN says DRC villagers abused in quest for minerals

3rd June 2002 Armies, militia and crime syndicates are wreaking havoc on Congo villagers in their unabated quest to plunder the central African nation's mineral wealth, stated a new UN report. 

Gold miner, union settles dispute

3rd June 2002 Gold miner Harmony announced the details of the agreement reached with the National Union of Mineworkers (NUM) at its Kalgold operations. 

Gem junior lifts earnings

3rd June 2002 Mining and exploration company Thabex Exploration announced their improved annual results with revenue sharply increasing from R247 000 to R4,024-million, the company reported a net operating income of R2,587-million, an improved turnaround from the previously recorded loss of R1,123-million... 

SA miner denies reports of mine closure

3rd June 2002 Chairperson and Chief Executive Officer of mid-tier gold miner, Durban Roodepoort Deep, Mark Wellesley-Wood has strongly denied reports that the company was "set to lose over 40% of its refined gold production this year due to the exhaustion of a mine". 

The state of State diamonds

31st May 2002 Ailing State diamond-mining company Alexkor does not conjure up the image of a jewel, but this is how Department of Public Enterprises chief director: restructuring of state owned enterprises Andile Nkuhlu describes the mine, which is situated below the mouth of the Orange river, in the Northern... 

World Bank, Zambia discuss mines funding

31st May 2002 Zambia’s president told World Bank officials his country was doing all it could to meet donor requirements as it tries to cope with mining group Anglo American’s withdrawal from its lifeblood copper industry. 

Ilmenite deal struck

31st May 2002 Irish miner Kenmare Resources has signed an agreement to sell ilmenite (a titanium dioxide mineral) to a major consumer. 

Resources group aims to reduce costs by $500m

31st May 2002 Diversified miner BHP Billiton announced a number of initiatives consistent with the strategic framework presented to investors a month ago. 

Gold miner, union resolve dispute

31st May 2002 Gold miner Harmony has reached an agreement in principal to resolve the illegal strike at its Kalgold operations, the details of which to be announced. 

Aussie gold takeover target wants higher bid

31st May 2002 Australian miner AurionGold said it believes the market is calling for a higher takeover bid by Placer Dome, which has offered $1,1- billion in shares for the Australian gold miner. 

Iron-ore giant settles 2002 prices

31st May 2002 Diversified miner BHP Billiton has reached agreement with both Nippon Steel Corporation and Kawasaki Steel Corporation for the prices of Mt Newman iron ore for the year starting April 1. 

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