R/€ = 20.58 Change: 0.00
R/$ = 17.41 Change: 0.05
Au 1954.29 $/oz Change: 18.85
Pt 964.41 $/oz Change: 11.95

Mining News

Chinese firm commissions Zambia copper mine

28th November 2002 Chinese miner NFC Africa said yesterday it had commissioned its Chambishi copper mine in Zambia, where it budgeted production at 24 000 t in 2003. 

Barrick on track to produce 5,7m oz – CEO

28th November 2002 Speaking at a Toronto investor conference, Barrick president and CEO, Randall Oliphant, affirmed that as November ends, the company is in line with plan to produce almost 5,7-million ounces of gold for 2002, at costs of approximately $178. 

Explorer pursues gem prospect in North West

28th November 2002 South African minerals explorer, Thabex, is pursuing a new diamond exploration project in Taung, in the North West Province. 

Boulle pulls off DFI coup

28th November 2002 Canadian mining company, Diamond Fields International (DFI) has announced that Jean-Raymond Boulle and his dissident group of directors have won an overwhelming majority of the votes cast at the company’s annual general meeting last week. 

Harmony makes NYSE debut

28th November 2002 South African miner, Harmony Gold Mining Company, the world's fifth largest gold producer, yesterday announced that its American Depositary Receipts commenced trading on the New York Stock Exchange (NYSE) under the symbol "HMY". 

Researcher forecasts higher nickel prices in 2003

27th November 2002 Independent Australia research house, AME Mineral Economics, says higher nickel prices can be expected in 2003, according to findings of its latest study. 

Platinum boom attractive, but dangers lurk

27th November 2002 Soaring demand for platinum is luring new miners and inspiring expansion projects in top producer South Africa's Bushveld complex, but analysts and industry players say many may not survive the rush. 

Australia miners continue to cut gold hedge

27th November 2002 Gold hedges by Australian mining companies declined by a modest 3,2% or 734 000 oz in the September quarter, as a once-vocal anti-hedging movement gripping much of the industry eased, JP Morgan said on yesterday. 

SA gold production up in 2002

27th November 2002 South Africa's gold production rose to 3,25-million ounces in the third quarter of 2002, about one percent higher than in the previous quarter, the country's chamber of mines said on yesterday. 

SouthernEra announces new East limb drill results

27th November 2002 Platinum group metals producer, SouthernEra Resources has announced initial results from the second phase drilling programme at the company’s 100%-owned Millennium Platinum Project on the Eastern Bushveld in South Africa. 

Progress in RBCT expansion talks

By: Martin Czernowalow     26th November 2002 The project to expand the Richard’s Bay Coal Terminal (RBCT) may at last be a step closer to materialising, however, uncertainty still lingers regarding when the venture could move ahead. 

SA officials to attend Aussie gem gathering

26th November 2002 A high-profile team from the South African government, led by Minerals and Energy Affairs Deputy Minister Susan Shabangu, will give international diamond seekers a progress report on South Africa’s new Minerals Bill at the Australian Diamond Conference early next month. 

40 potential buyers listed for Zambia’s Konkola

26th November 2002 Some 40 firms have been short-listed as potential investors in Zambia's troubled Konkola Copper Mines (KCM), after the August exit of Anglo American, KCM said yesterday. 

Geological model unearths new potential at Mali mine

26th November 2002 London- and Nasdaq-listed gold producer, Randgold Resources has announced that a new geological model for Morila has been developed from the latest drilling and pit mapping information. 

Canada emeralds may bring new Klondike gold rush

26th November 2002 A mini staking boom has erupted for gem-quality emeralds in a most unlikely place – the Yukon territory in Canada's far north, the home of the Klondike gold rush more than a century ago. 

Skorpion Zinc to come on stream Q1

26th November 2002 Construction work at Anglo American's Skorpion Zinc mine and refinery, at Rosh Pinah in southern Namibia, is almost complete and will come on stream early next year, a senior executive said yesterday. 

Palladium to get no quick lift from Norilsk deal

25th November 2002 Plans by Russian palladium miner Norilsk Nickel to buy US firm Stillwater Mining could benefit the metal's weary auto industry consumers but may come too late to halt them using alternatives, analysts said last week. 

Gold miner mulls deep-level Joburg prospect

By: Martin Czernowalow     25th November 2002 An aggressive initiative to revive the Argonaut project by the world’s thirteenth-largest gold producer, South Africa’s Durban Roodepoort Deep (DRD), could radically change the face of the local mining industry. 

Minerals and energy ministry commits to HIV/AIDS mining summit

25th November 2002 South African Deputy Minister of Minerals and Energy, Susan Shabangu, indicated her ministry and government's commitment to the HIV/AIDS Mining Summit, in a meeting with the national office bearers of the National Union of Mineworkers (NUM), last week. 

Mining vessel due to arrive at Luderitz concessions today

25th November 2002 Gem miner Diamond Fields International (DFI) has announced that MV Anya, a diamond vessel owned by the company’s contract miner, Gemfarm Investments, is set to arrive at its marine concessions near Luderitz, Nambia, today. 

Fume-free mining technology being re-evaluated

By: candice haase     25th November 2002 The Mining Systems pro-gramme of CSIR Miningtek has been involved in studies of various fume-free, non-explosive, rockbreaking methods for a number of years. 

Spain sues metals firm for €90m over toxic spill

25th November 2002 Regional authorities in Spain are suing Swedish-Canadian metals firm Boliden for €89,8-million ($89,9-million) over a massive toxic spill at a mine in 1998, a government spokeswoman said last week. 

Gold Fields withdraws US share offering

25th November 2002 South Africa's second largest gold producer, Gold Fields, said last week it had withdrawn a share offering in the US that had been intended to raise capital. 

Harmony completes High River Gold purchase

25th November 2002 South African gold producer Harmony Gold Mining Company announced last week that it has completed the acquisition of 17 074 861 common shares of High River Gold Mines, representing an approximate 21% interest in the issued share capital of High River. 

Gencor’s asbestos case postponed until Dec 3

25th November 2002 A South African High Court has postponed, until December 3, a bid by sick miners seeking an urgent injunction to stop mine holding company Gencor from unwinding its stake in platinum giant Impala Platinum. 

Gold demand remains weak in Q3

22nd November 2002 Global gold demand remained weak in the third quarter of 2002, but the decline began to abate as consumers adjusted to higher prices, the industry-backed World Gold Council (WGC) said yesterday. 

Gold firm has aggressive exploration plan

22nd November 2002 The proceeds of its Nasdaq listing plus record third quarter profits added up to some $60-million in cash on the Randgold Resources balance sheet at end-September. 

Gold junior reports record output

22nd November 2002 Toronto and AIM-listed Thistle Mining has increased its gold production again in the third quarter of the year, which at nearly 50 000 ounces is 18% ahead of the first quarter of the current year. 

Xstrata may bid for Aussie coal interest

22nd November 2002 European-based miner Xstrata will make a friendly bid for Australian miner MIM with the two groups having held detailed discussions on a takeover offer, the Australian Financial Review reported on yesterday. 

Placer Dome aims to restart Getchell mine

22nd November 2002 Three years after mothballing its Getchell gold mine in the US, a top Placer Dome executive said on Wednesday the company was confident of resuming operations at the project, once billed as one of the most exciting exploration plays in Nevada. 

SA miners predict rising gold price next year

22nd November 2002 The outlook for the gold price in 2003 is bright – despite the sluggish global economy – as supplies become tighter, the heads of two of South Africa's largest gold miners said last week. 

Extension in Alexkor privatisation bidding process

By: Martin Czernowalow     21st November 2002 The bidding process for the sale of 51% of State-owned diamond miner Alexkor has been extended until Friday, November 29, 2002. 

Canadian miner pours first gold from Australian mine

21st November 2002 Canadian nickel miner LionOre Mining International had a double hit of news this week, saying it had poured gold from its first gold mine and discovered a new nickel sulphide deposit, both in western Australia. 

Gold deal opens way for study of SA gold resource

21st November 2002 Canadian miner Great Basin Gold has announced that it has entered into an option agreement with a private South African company, Southgold Exploration, and its shareholders. 

Diamond Fields’ battle heats up

21st November 2002 Canadian miner, Diamond Fields International announced that it has filed a petition in the Supreme Court of the Yukon Territory. 

Harmony close to decision on Doornkop

By: Martin Czernowalow     20th November 2002 South Africa’s third-largest gold miner, Harmony, says it is close to making an announcement regarding its Doornkop South Reef project at Randfontein, Mining Weekly Online learned yesterday. 

NUM unhappy about Aids summit postponement

20th November 2002 The National Union of Mineworkers (NUM) has expressed disappointed about the decision of the Chamber of Mines and the Department of Minerals and Energy to postpone indefinitely the Mining Industry HIV/Aids Summit. 

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