R/€ = 16.26 Change: 0.00
R/$ = 14.53 Change: 0.00
Au 1346.30 $/oz Change: 2.14
Pt 802.00 $/oz Change: 4.74

Mining News

SA gold No.3 could become 1m oz producer in Oz

11th December 2001 South African gold miner Harmony has announced a takeover offer of R1,3-billion for Hill 50 in Australia. 

US major sees shares fall on golden top-up

11th December 2001 US gold miner Newmont Mining stormed back into the battle for Australia's Normandy Mining with a A$900 million cash sweetener but the offer looked vulnerable to a declining Newmont share price. 

SA’s golden trio pursue Aussie paydirt

11th December 2001 South Africa's big three gold firms – AngloGold, Gold Fields and Harmony – are making waves on the other side of the Indian Ocean. 

South America's mining giants – when will they move out

10th December 2001 One of the big questions in world mining today is when, where and how South American giants CVRD (Brazil) and Codelco (Chile) go international. It seems CVRD is going into China. 

Aussie authorities vet gold merger

10th December 2001 The Australian Foreign Investment Review Board (FIRB) had no objections to a proposed merger of Delta Gold with fellow Australian gold-miner Goldfields. 

Disc-cutter technology advances

10th December 2001 The oscillating disc cutter (ODC) project being undertaken by the cooperative Research Centre for Mining Technology and Equipment (CMTE) and its commercial offshoot, Odyssey Technology, has passed a number of significant milestones. 

SA gold miner plugs in R11,20 exchange rate for 2002

10th December 2001 South African gold miner Harmony said on at the weekend that it had fixed an average exchange rate of R11,20 to the dollar for its Free State operations' planned production for 2002. 

Offer for Normandy upped again

10th December 2001 US gold-miner Newmont Mining Corporation has stormed back into the battle for Australia’s Normandy Mining with a A$900-million cash sweetener, winning the support of Normandy’s board. 

Chinese firm's copper mine on track for May commissioning

7th December 2001 The Zambian subsidiary of the China Non-Ferrous Metals Corporation said that a $150-million rehabilitaion of its Chambishi mine, which started last year, remained on course with the completion of the first phase. NFC Africa Mining spokesperson Wang Peng told reporters in Lusaka that the firm had... 

Latest copper production cuts

7th December 2001 The world’s major copper producers are contiuing to seriously curtail their output in a bid to counter weak demand and prop up prices, which recently fell to their lowest levels since 1987. Following is an overview of production cuts in the sector since the beginning of 2001: December 5... 

Gold consolidation inevitable – Barrick

7th December 2001 The world’s largest gold company by market capitalisation, Barrick, said consolidation is inevitable and will continue. “As Anglo and Newmont battle it out for Normandy, we see that consolidation is unavoidable, but it is not unique. “Anything that is commoditised, whether... 

Fulco can create 3 000 Free State jobs – Motsepe

By: Terence Creamer     7th December 2001 Emerging precious-metals miner, African Rainbow Minerals (ARM), believes that its ‘continuous operations’ philosophy will be imperative to improving the competitiveness of the four Free State mines that it and its joint venture partner, Harmony, are in the process of purchasing from... 

Africa gets first rare-earth mine

6th December 2001 The African continent will get its first rare-earth mine in 2002 which will provide 3% to 4% of the world’s consumption of rare-earth metals. 

Aussie gold firms hedge less in September quarter

6th December 2001 Australian mining houses hedged a total of 36,5-million ounces in the September quarter, down 1,4-million ounces, or 3,7% from the June quarter, the Australian Gold Council said. 

Big rehab needed at 40 asbestos mines

6th December 2001 The Department of Minerals and Energy Affairs needs R15-million a year for the next 10 to 15 years if it is to rehabilitate more than 40 abandoned asbestos-mines across South Africa. The department has already rehabilitated 51 asbestos-mines since 1986 at an estimated cost of R55-million. 

Gem miner appoints first woman director

5th December 2001 The only diamond-miner listed on the Johannesburg Securities Exchange, Trans Hex, has appointed its first woman director. 

Kimberley process lacks teeth – Global Witness

5th December 2001 Non-governmental organisations (NGOs) believe that the final meeting of the Kimberley Process, which has been mandated by the United Nations General Assembly with establishing an international system of controls to certify the trade in rough diamonds, has made significant progress towards a final... 

Zinc prices at 14-year low

5th December 2001 A leading mineral economist group has calculated that 40% of Western World zinc-mine output was not covering cash costs at the October average price. AME Minerals Economics, of Sydney, Australia, argues that the situation is no longer sustainable. 

Aids identified as a major challenge for diamond giant

5th December 2001 Diamond giant De Beers has identified the issue of managing the social impact of HIV/Aids on its mines and in the community at large as its greatest safety, health and environmental (SHE) challenge. 

Third bidder may join Normandy race

5th December 2001 Australian gold-miner Normandy Mining’s shares touched a three-and-a-half year high yesterday on the possibility of a third bidder joining the fight for the company. 

Private investors hold 22 000 t of gold

4th December 2001 A new study published by the World Gold Council reports that retail investors around the world purchased a net 2 227 tons of gold between the years 1993 to 2000. 

More copper production cuts announced

4th December 2001 The world’s major copper producers have begun to seriously curtail their output in a bid to counter weak demand and prop up prices, which recently fell to their lowest levels since 1987. 

Diamond giant eyes bigger Canada role

4th December 2001 The world’s leading diamond producer, De Beers, is looking for a bigger stake of Canada’s growing diamond industry, and said it wants more work done on a diamond-bearing property in northern Ontario before it makes a decision to build the province’s first diamond-mine, possibly... 

SA gold major ups takeover ante again

4th December 2001 The world's largest gold miner AngloGold on Monday raised the handling fees it will pay brokers to encourage shareholders of Australia's Normandy Mining to accept its takeover bid soon. 

Vanadium supply adequate without mining

3rd December 2001 Byproduct vanadium is more economical to produce than material mined from ore and enough is is available to more than meet current global vanadium demand, an official of Strategic Minerals Corporation said. 

SA coal trades fall below $29/t

3rd December 2001 Two South African trades by globalCoal market members were executed below $29 at a weighted average price of $28,78 per ton. 

Diamond certification system to stem illegal trade

3rd December 2001 Diamond industries in more than 40 countries agreed to implement an international certification scheme for the trade in rough diamonds by the end of 2002, or face severe penalties and sanctions from the United Nations (UN). 

'Sit tight,' Normandy shareholders told

3rd December 2001 Courted by the world’s two biggest gold-miners, Australia’s Normandy Mining told shareholders to sit tight on a fresh bid by South Africa’s AngloGold and raised the prospect of further developments. 

Three workers die after earth tremor

3rd December 2001 Three workers at gold-miner AngloGold died and four others were injured following an earth tremor on Saturday at the Savuka Mine near Carletonville, South Africa, the company said. 

UK miner may dispose of non-platinum assets

30th November 2001 Veteran British mining entrepreneur Algy Cluff said the transformation of Cluff Mining into a focused platinum producer may force the disposal of its other assets across Africa. 

Washington approves ‘blood diamond’ measures

30th November 2001 The US House of Representatives overwhelmingly approved a measure designed to help stem the trade in so-called ‘blood diamonds’ from Africa, linked in part to suspects in Washington’s war on terrorism. 

Tariffs train smash could delay coal terminal expansion

By: Terence Creamer     30th November 2001 Negotiations between a consortium of coal companies hoping to benefit from the 10-million-ton-a-year expansion at the Richards Bay Coal Terminal (RBCT) and State-owned coal transporter, COALlink appear to be on the brink of deadlock. 

Gloves off in battle for Aussie gold-miner

30th November 2001 The battle for Australia’s Normandy Mining heated up on Thursday as South Africa’s AngloGold sweetened its bid to $1,9-billion and topped rival Newmont Mining Corporation. 

Mining giant sell potash business

30th November 2001 Resource giant Anglo American has entered into an agreement to sell its wholly-owned subsidiary, Cleveland Potash, to a subsidiary of Israel Chemicals (ICL). 

Newly listed resources group in empowerment move

30th November 2001 South African mining company Kumba Resources said on Friday it had chosen the Tiso Consortium as its preferred black empowerment partner, giving it the right to buy five percent of the company. 

$100m for Russian coal-mining sector development

29th November 2001 The release of a $100-million loan to help Russia restructure its coal-mining sector has been approved by the World Bank, reports The Moscow Times. 

N American gold firm considers more Oz gold acquisitions

29th November 2001 A successful takeover of Australia’s Normandy Mining by Newmont Mining could be a launch pad for more acquisitions in the region, with Lihir Gold among the potential targets US-based Newmont launched a bid for Normandy earlier this month, topping an offer by AngloGold. 

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