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Mining News

Gold mine accident claims six lives

23rd May 2002 Rescue workers have recovered the bodies of the three employees who were missing following a rock fall at Great Noligwa mine near Orkney on May 17. 

Study on for R20bn Moz coal project

22nd May 2002 South Africa’s Industrial Development Corporation (IDC), together with foreign and local partners, is studying a R20-billion coking coal and energy project in Mozambique. 

SA gold miner exploring Peru

22nd May 2002 South African miner AngloGold is exploring several areas of Peru for gold but it is too early to comment on results, a company official said, as rumours AngloGold had made an interesting recovery swirled at an industry conference. 

Konkola revises output forecast upwards

22nd May 2002 Zambia’s Konkola Copper Mines (KCM) revised first quarter primary copper production upwards and said it continued to perform well despite plans by parent Anglo American to exit from Zambia. 

Sierra Leone suspects huge diamond is in Israel

22nd May 2002 Sierra Leone’s government suspects a huge diamond has been smuggled out of the West African country to Belgium and on to Israel, the State buying office said. 

Zambia agrees basic framework for mining giant's exit

21st May 2002 The Zambian government said that it had reached an agreement with Anglo American on a basic framework for the mining giant's exit from its troubled Zambian mining business. 

Gold firm plans $60 m to $70m annual exploration spend

21st May 2002 Denver-based Newmont Mining Company, newly merged with Normandy Mining and Franco-Nevada Mining, will spend $60-million to $70-million annually on exploration to replace itscurrent level of 86 million ounces in gold reserves, said Bruce Kay, Newmont's vice president of exploration. 

Gold leader sees more consolidation, but has no deal of own

21st May 2002 South Africa's biggest miner, AngloGold, expects to see more industry consolidation, the firm's chief executive officer Bobby Godsell said, but he brushed aside rumors that AngloGold planned to team up with Barrick Gold to buy Gold Fields. 

SA – Oz risk management alliance

21st May 2002 South African firm International Risk Control Africa (IRCA) has established a worldwide training alliance with the Box Hill Institute of Technical and Further Education (Tafe) in Melbourne, Australia. 

SA's top five mining capital equipment exporters

By: Joanne Delaurentis     20th May 2002 South African mining capital equipment exporters are beginning to realise their potential in the global environment, and are launching into markets that were previously untouched by local suppliers. 

Surging output not enough to end platinum deficit

20th May 2002 Surging platinum output by South Africa will not be enough to overturn a global deficit in the metal as demand zooms surges from the auto sector, the world’s top platinum producer said. 

Ghana gold miner in debt overhaul

20th May 2002 African gold miner Ashanti Goldfields announced further progress in its debt overhaul, but said operational difficulties were challenging its second quarter performance. 

Two dead, four missing after rockfall at F State gold-mine

20th May 2002 Following a seismic event measuring 2.3 on the Richter scale at Great Noligwa gold-mine, in the Free State, AngloGold reported today that one employee had died and five were missing. 

Miners pledge support for sustainable development

17th May 2002 A high-profile mining conference on sustainable development ended on Wednesday with pledges that the industry is in the process of mending its social and environmental ways, but with no concrete action plan on how the trick is to be performed. 

Bank upgrades gold-price forecast

17th May 2002 Gold prices have the power to rally further this year as miners cut the amount of the metal they sell in forward markets and investors buy into an asset seen as a safe haven, major bank UBS Warburg said. 

'Base metals consolidation to continue'

17th May 2002 The chief executive of world’s largest diversified miner BHP Billiton said he thinks the depressed base metals industry is still in the throes of consolidation, with demand barely rising even as budding signs of economic recovery continue to appear. 

State gem miner to be sold by Feb

17th May 2002 Government plans to secure a strategic equity partner (SEP) for troubled State-owned diamond miner Alexkor during the course of the current financial year. 

Growth focus after golden JSE debut

By: Keith Campbell     17th May 2002 African Rainbow Minerals Gold (ARMgold) is strongly focused on growing gold production, income and profits in the coming months, following its historic and highly successful listing on the JSE Securities Exchange. 

Gold demand falls in first quarter

17th May 2002 Global demand for gold fell 10% to 749,5 tons in the first quarter of this year against a year earlier due to a massive slump in Indian consumption, the World Gold Council (WGC) said. 

Platinum firm to be hurt by Aids

16th May 2002 South Africa’s Aids epidemic will cost platinum miner Impala Platinum around R46-million a year by the time infections peak in 2011, a company doctor said. 

Cobalt demand expected to remain stagnant

16th May 2002 Cobalt demand, which fell for the first time in 2001, is set to remain below 2000’s record levels for the next few years, while prices will not move much from the $8/lb level, Peter Searle, analyst at Resource Strategies said. 

DRC copper miner plans to ramp up output

16th May 2002 The Democratic Republic of the Congo’s State-owned metals producer Gecamines intends to significantly increase metal production, switching its emphasis back towards copper, Mutamba Mwena, metallurgical strategy manager of Gecamines, said. 

Gold finds hi-tech niche

16th May 2002 Minerals research council Mintek has unveiled the first product to come out of Project Autek – an initiative to identify and develop potential industrial applications for gold. 

Smith to step down from mining group

16th May 2002 Hans Smith has announced that he would be stepping down as non-executive chairperson and as a member of the Board of Kumba Resources at the company’s annual general meeting in November after having successfully fulfilled his mandate. 

Strike will hurt after three days

16th May 2002 South Africa’s number three gold miner Harmony Gold said bullion output at its Randfontein gold mine would be affected if a threatened strike lasted longer than three days. 

Mining meets to beef up developmental image

15th May 2002 The mining industry moved to put another nail in the coffin of its swashbuckling past at the opening of a major conference in Toronto, designed give it a kinder, gentler and greener face. 

North American recession hurts platinum jewellery

15th May 2002 The amount of platinum sold in jewellery in North America last year fell sharply as economic growth faltered, yielding some ground to white gold as conspicuous consumption was trumped by cost consciousness, according to a new study. 

China, Vietnam in alumina venture

15th May 2002 Plans announced by China to help Vietnam to mine bauxite and build an alumina refinery could help alleviate a shortfall of raw materials needed to feed China’s fast-growing aluminium industry, analysts said. 

Gold miner faces new strike threat

15th May 2002 Gold miner Harmony has announced that industrial action by the National Union of Mineworkers (NUM) is looming at a second of its operations. 

Platinum strike likely to be averted

14th May 2002 South Africa's National Union of Mineworkers (NUM) and platinum producer Anglo American Platinum (Angloplat) said on Monday a looming strike at the company over a new medical aid scheme might be averted. 

Mining giant prepares steel spin-off

14th May 2002 The steel arm of resources giant BHP Billiton, which is soon to be spun off from the global miner, said on Monday a focus on costs, product development and an expanding Asian presence made it well placed to benefit from a steel price recovery. 

Coal terminal project hits another snag

By: Terence Creamer     14th May 2002 Optimism has turned to frustration yet again as the planned 10-million t/y expansion of the strategic Richards Bay Coal Terminal (RBCT) in Kwazulu-Natal appears to have hit another snag. 

SA's role as Platinum Inc consolidates

14th May 2002 South Africa is set to consolidate its role as the world's most important platinum exporter with a slew of new mine expansions and projects, metals refiner Johnson Matthey said on Monday. 

Zambia cancels mines announcement

14th May 2002 Zambian Finance Minister Emmanuel Kasonde on Tuesday cancelled a news conference at which he had been due to discuss Anglo American withdrawal from its troubled Zambian mines, a Treasury spokesman said. 

Oppenheimer junior speaks on mining and development

By: Martin Zhuwakinyu     13th May 2002 Mining has a key role to play in the socioeconomic regeneration of Africa, being ushered in by the New Partnership for Africa's Development (Nepad). This is the view of 32-year-old Jona 

Zambia copper-exit announcement tomorrow

13th May 2002 Zambia has almost agreed a deal with Anglo American on the mining giant's exit from its troubled Zambian copper assets and details will be announced tomorrow, Finance Minister Emmanuel Kasonde said. 

SA research breakthrough may lead to Oz plant

13th May 2002 South African minerals researcher Mintek has developed a process to produce electrolytic manganese dioxide (EMD) from low-grade manganese ores that eliminates the costly up-front pyrometallurgical prereduction step. 

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