R/€ = 19.15 Change: 0.02
R/$ = 16.90 Change: 0.01
Au 1709.50 $/oz Change: 7.84
Pt 838.60 $/oz Change: 12.40

Mining News

Vryheid community acquires colliery land 

28th August 2002 Sustainable development is the cornerstone of a deal in which three local communities recently took ownership of land previously owned by Anglo Coal's Vryheid Coronation Colliery (VCC) in Kwazulu-Natal. 

Joburg seeks to clean up golden dumps

28th August 2002 Not many could call the bleak city of Johannesburg lovely, especially in winter when the light is harsh and bone dry winds blast dust off the flat-topped yellow mine dumps that litter the poor southern suburbs. 

Commissioning of gem treatment plant well advanced

28th August 2002 A mere 29 months after project approval and 23 months since construction started, work on the De Beers Kimberley Mines Combined Treatment Plant (CTP) is nearing completion and commissioning is well advanced with the first material scheduled for treatment by the end of this month. 

Marikana platinum project on track for 2002

28th August 2002 Australian platinum miner Aquarius Platinum reports that all major construction contracts are in place for the Marikana Project, with completion before the end of 2002. 

New Anglo head supports Kyoto ratification

28th August 2002 The world should stick with the Kyoto climate change pact despite misgivings from some major companies and rejection by the United States, according to the chief industry representative at the "Earth Summit II". 

Platinum giant signs landmark wage deal

By: Martin Czernowalow     28th August 2002 A wage agreement between South African mining giant Anglo Platinum and eight unions has been hailed as a “historic triumph”, by both the mine’s management, as well as union representatives. 

IDC wants R200m for Kumba pre-emptive

By: Terence Creamer     27th August 2002 Talks are under way between Anglo American and the State-owned Industrial Development Corporation (IDC) in a bid to resolve a dispute over the IDC’s claim on Kumba Resources shares now in the possession of the mining giant. 

Gem giant, parks authority in conservation deal

27th August 2002 Gem giant De Beers and South African National Parks (SANParks), signed an agreement on Friday, which will see the integration of parts of the De Beers-owned Venetia Limpopo Nature Reserve (VLNR) into the core of the proclaimed Vhembe/Dongola National Park, in the Limpopo province in South Africa. 

DRC copper project hits logistics snag

27th August 2002 The Dikulushi Project in the DRC is now 90% complete and the completion date has been pushed out by approximately 20 days, to mid-September, as a result of logistic delays arising from the barge construction stage, which were not made up as anticipated. 

Gold jumps as Dow slumps

27th August 2002 COMEX gold and silver rose in thin trade yesterday as stock prices fell, with a UK public holiday reducing liquidity and traders reluctant to commit before the coming US Labour Day holiday weekend. 

Zimbabwe platinum rush despite turmoil

By: Martin Zhuwakinyu     26th August 2002 Conventional wisdom has it that a country shunned by the World Bank (WB) and the International Monetary Fund (IMF) might as well forget about receiving any significant foreign direct investment (FDI) flows. 

Titanium miner, tribal authorities sign accord

26th August 2002 Titanium miner, Richards Bay Minerals (RBM), this month signed a Memorandum of Agreement with tribal chiefs, Inkosi M.M. Dube and Inkosi M.J. Mkhwanazi for the Zulti South mining operation. 

Education thrust from gold leader

26th August 2002 South African mining giant, AngloGold has published its social investment report 2001/2002, which looks at the company’s obligations and role as a corporate citizen and covers health and safety of employees, the management of environmental strategy and programmes for social investment. 

SA resources group mulls 17 projects

By: Terence Creamer     23rd August 2002 Newly-formed South African resources company, Kumba Resources, has released details of a multi-commodity project pipeline, which is designed to help grow its iron-ore, coal, base-metals and heavy-minerals businesses and diversify its geographic spread. 

SA resources group has strong year, but cautious on 2003

23rd August 2002 South Africa's biggest iron ore producer Kumba Resources beat expectations with a 115% leap in financial year headline earnings on Thursday, boosted by record production, sales and a weaker rand. 

Platinum No.2 says it can manage Zim risk

23rd August 2002 World number two platinum producer Impala Platinum Holdings (Implats) reported lower but better than expected year headline earnings a share yesterday and said it saw a good 2003. 

Australian gold miner sells stake in Zimbabwe PGM group

23rd August 2002 AurionGold said it sold the shares to Impala Platinum Holdings at A$1,90 a share. 

Chile wants $300m tax from copper-mine sale

23rd August 2002 The Chilean government said on Wednesday it had sent a bill to Congress to ensure ExxonMobil pays an estimated $300-million in taxes on the sale of its Chilean mining subsidiary. 

Marula platinum project to start next month

By: Martin Zhuwakinyu     23rd August 2002 World number-two platinum producer Impala Platinum’s (Implats’) Marula mine project, on the eastern limb of the Bushveld Complex, will come on stream next month, ramping up to 103 000 ounces of platinum a year in 2005. 

Forum set up to deal with RBCT delays

By: Terence Creamer     23rd August 2002 A multi-stakeholder forum is being set up in an effort to overcome current delays in the proposed expansion of the Richards Bay Coal Terminal (RBCT) in Kwazulu-Natal. 

Oz –UK alliance in Tanzanian PGM prospecting

22nd August 2002 Australian-based Goldstream Mining NL has teamed up with global Platinum Group Metals (PGM), miner Lonmin to explore and potentially develop one of the few recent greenfields PGM discoveries in the world, the Mibango Platinum Project in Tanzania. 

Mining, chemical firms fingered as polluters

22nd August 2002 A report by an environmental activist group has lambasted a global mining giant and a South African petrochemical company for their poor social and environmental practices. 

Gem-miner to award concessions soon

By: Martin Czernowalow     22nd August 2002 State-owned gem miner Alexkor will soon award shallow-water and beach mining concessions, having already compiled a short list of possible operators. 

Industry, State forge common vision on charter

22nd August 2002 South Africa's mining industry said on Wednesday a meeting to forge details of a controversial charter had yielded a "common vision" on boosting black participation in the white-dominated industry. 

Diamond giant signs two-year wage deal

22nd August 2002 Diamond miner De Beers and South Africa's National Union of Mineworkers (NUM) have agreed on a two-year pay settlement, the company and union said in a joint statement on Wednesday. 

Finnish metals group begins stainless buyout

21st August 2002 Finnish metals group Outokumpu on Monday launched a mandatory redemption offer for all shares in stainless steel group AvestaPolarit, with the offer running from August 26 to September 26. 

Mining group in talks to buy drugs from India

21st August 2002 Indian drug maker Cipla is in talks with South African mining giant Anglo American to supply it with generic versions of anti-Aids drugs, top officials of the two companies said on Monday. 

Resource giant sticks to copper cutback plan

21st August 2002 Chile's Escondida copper mine, a unit of BHP Billiton, said on Monday it produced 51 575 tons copper in July, down 23,4% from July 2001. 

Zambia's Konkola to raise production despite exit

21st August 2002 Zambia's troubled Konkola Copper Mines (KCM) will focus on raising production after the exit of parent Anglo American, CEO Robin Mills said on Tuesday. 

State, industry tight lipped on charter talks

By: Martin Czernowalow     21st August 2002 Negotiations around the empowerment charter for South Africa’s mining industry will push on until a positive outcome is reached, the head of communications at the Department of Minerals and Energy (DME) told Mining Weekly Online yesterday. 

Gold bounces as oil prices surge

21st August 2002 COMEX gold regained its footing on Tuesday, rescued from Monday's downdraft by profit taking and market concern about surging oil prices, while players weighed whether the 2002 gold boom was petering out. 

Sexwale has plans to grow gem miner

20th August 2002 South African diamond miner Trans Hex says the appointment of Tokyo Sexwale as chairman signals the beginning of an aggressive expansion phase. 

Leader appointed to SA mineral-sands project

20th August 2002 International mineral sands group Mineral Commodities has appointed a senior executive with extensive experience in the global mineral sands business as CEO to spearhead the development of its world-class Xolobeni Project on South Africa's east coast. 

Eight bidders show interest in State gem miner

By: Martin Czernowalow     20th August 2002 The Department of Public Enterprise (DPE) yesterday revealed that it has received eight bids for non-binding expression of interest in the ailing State diamond-mining company Alexkor. 

New mining law likely to be delayed until 2003

20th August 2002 South Africa's government said on Monday the enactment of a controversial new mining law was likely to be delayed by negotiations on a related money bill to set mining royalties. 

Complex deal ensures giant's withdrawal from Zambia

20th August 2002 The long-awaited agreement between Anglo American and the Zambian government on plans by the mining giant to exit Konkola Copper Mines (KCM) and the country was concluded yesterday. 

Gold sinks as traders go short for first time in months

20th August 2002 COMEX gold skidded on Monday as the dollar firmed and investors, emboldened by the steadier tone on Wall Street, ditched safe-havens and reallocated into U.S. stocks. 

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