R/€ = 20.60 Change: -0.02
R/$ = 17.37 Change: 0.09
Au 1946.86 $/oz Change: 11.42
Pt 961.71 $/oz Change: 9.25

Mining News

Miner’s troubled HBI plant back in the black

5th November 2002 Diversified miner BHP Billiton said yesterday its troubled Western Australian hot briquetted iron (HBI) plant was "generating some black ink" but would not be a large contributor to profits. 

Kabila sacks State diamond mining bosses

5th November 2002 President Joseph Kabila has sacked top managers from Congo's state diamond mining company, MIBA, in preparation for the country's long-awaited return to peace, officials said on Sunday. 

Heavy minerals explorer signs zircon sales contract

5th November 2002 Natural resources exploration and mining group, Kenmare Resources, has announced that it has signed its second off-take contract, an agreement to sell zircon from its Moma Titanium Minerals Project in Mozambique. 

Saldanha and Qingdao sign sister agreement to promote iron-ore exports

5th November 2002 South African Mining group, Kumba Resources, reached another milestone when a delegation from Qingdao Port, in China, signed a cooperative agreement with the Port of Saldanha. 

Platinum holding firm attempts to ease unbundling delay concerns

5th November 2002 South African platinum holding company, Gencor, attempted yesterday to ease investor uncertainty over a delay in unwinding its stake in Impala Platinum (Implats), because of a legal dispute with sick miners. 

SA sees capital inflow after mining roadshow

5th November 2002 South Africa's Minerals Minister said yesterday she was confident of accelerated capital inflow after a London roadshow to ease investor fears over a charter to give blacks a higher stake in the mining sector. 

The Kimberley process: will diamonds' brightness defeat the darkness?

By: Keith Campbell     4th November 2002 Remember the hysteria about 'blood diamonds'? Back in the year 2000 the propaganda against the diamond trade by non-governmental organisations (NGOs) and activists, aroused by the human cost of the wars raging in Angola, the Democratic Republic of Congo (DRC) and Sierra Leone, had reached such a... 

Mlambo-Ngcuka to launch gem certification scheme

4th November 2002 The South African Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, will be chairing the launch of the Kimberley Process Certification Scheme (KPCS) in Interlaken, Switzerland, tomorrow. 

Blue Ridge platinum study delayed until 2003

4th November 2002 UK-based mining and exploration group Cluff Mining said last Thursday that the feasibility study at its Blue Ridge platinum project in South Africa has been delayed, but it will be completed next year. 

Mine charter scorecard ready soon – official

4th November 2002 A scorecard, to chart the progress of South Africa's mining industry to give blacks a bigger stake in the sector, would be ready within two months, an official at the Minerals and Energy Department said on Friday. 

North American gold CEO upbeat on metal

4th November 2002 Canadian miner, Barrick Gold, long known for stellar growth and rising profits, put its credibility on the line when a third-quarter profit warning came days after news of a big expansion, and the company now admits its timing could have been better. 

Gold group’s diversity helps offset inflation at SA mines

1st November 2002 South Africa's largest gold producer AngloGold said yesterday that its third-quarter core profit rose after weakness in its domestic business was offset by strong performances elsewhere. 

Opportunity for gold buying on Comex – Williams

1st November 2002 The marketing director of South Africa’s largest gold producer believes there is “fresh opportunity” for new purchases of the precious metal on the New York Comex, which has emerged as the key driver of the gold spot price over the last few months. 

Producer body persuades Germans to invest in gold

1st November 2002 The World Gold Council (WGC), the marketing organisation owned by the leading gold producers, will launch an advertising campaign today to persuade Germans to invest more in the precious metal. 

Copper miner seeks debts finance for new mine

By: Martin Czernowalow     1st November 2002 Canadian miner, First Quantum Minerals, is in the process of mandating a global banking group to arrange the debt finance component for a new copper-gold mine in Zambia. 

Resources giant rejects aluminium worries

1st November 2002 The world's largest diversified miner BHP Billiton said yesterday that rising global aluminium smelter capacity would not cause a problem for the company, which has two smelter expansion projects under way. 

R100m Benoni gold mining deal

By: Martin Creamer     1st November 2002 Peter Skeat’s Afrikander Leases is the new owner of the New Kleinfontein Gold Mining Company (NKMC) in Benoni, Mining Weekly Online can today exclusively report. 

Resources group rejects UN plunder allegations

1st November 2002 South African mining giant Kumba Resources, the mining division of Iscor which was unbundled into a separately-listed company in November 2001, has categorically denied UN allegations that the company has violated ethical, transparency or human rights guidelines set by the Organisation for... 

Royalty moratorium for SA's existing miners

31st October 2002 South Africa's existing mining companies will not be liable to a proposed mining levy until they convert their mining rights to so-called new-order licences, Finance Ministry officials said on Tuesday. 

Canadian miner announces drill results at gem prospect

31st October 2002 Canadian miner, SouthernEra Resources has released a report on microdiamond results, returned from the Sue and Sputnik kimberlite pipes at the Yamba Lake Project in the Northwest Territories. 

Mergers create new Canadian mid-tier gold miners

31st October 2002 A frenzy of mergers among Canada's small-cap gold miners is creating a new enlarged mid-tier sector hungry for market visibility and more exposure to a rising gold price. 

Dikulushi project begins yielding returns

31st October 2002 Australian mining group, Anvil Mining has announced that it has received the first cash flow payment from the delivery of Dikulushi copper-silver concentrates to the Ongopolo smelter in Namibia. 

Aussie gold miner posts higher earnings

31st October 2002 Australia's AurionGold posted a September quarter net profit of A$24-million ($13-million) yesterday, as the sale of its Zimbabwe platinum interests offset the cost of disruptions to gold mining in Papua New Guinea. 

Mining group hurt by weak commodity prices

31st October 2002 The world's largest diversified miner, BHP Billiton, posted a six percent fall in first quarter profit today, hurt by weak commodity prices, and warned of a still difficult market. 

Three miners die in Savuka rockfall

31st October 2002 Mining giant AngloGold has announced that three miners have died, following a seismic event at the company's Savuka Mine near Carletonville at about 10.40pm on Tuesday. 

Anglo appeals against IDC’s inclusion in Tribunal hearing

By: Martin Czernowalow     30th October 2002 The Competition Tribunal merger hearing, regarding Anglo American’s purchase of large stakes in Anglovaal Mining and Kumba Resources, will not take place in early November, following an appeal lodged by Anglo American. 

R1bn mining fund launched

30th October 2002 The mining industry received a R1-billion boost today with the launch in Johannesburg of the New Africa Mining Fund (NAMF), a Private Equity Investment vehicle focussing on developing the junior mining opportunities on the African continent. 

Platinum giant plans R30bn SA capex

30th October 2002 World number one platinum producer, Anglo American Platinum said yesterday spending on expansion projects in South Africa would likely top R30-billion ($3-billion) over the next few years. 

Ashanti says Geita gold output to grow 10%

30th October 2002 African miner Ashanti Goldfields expects to increase gold production from its jointly owned Geita mine in Tanzania by 10% to more than 600 000 ounces a year. 

SA gold refinery for Gulf project

30th October 2002 A state-of-the-art gold refinery, utilising Mintek's Minataur hydrometallurgical refining technology, has been specified for a project at the Dubai Metals and Commodities Centre, a major new precious-metals hub that is being developed in the United Arab Emirates. 

UK miner completes Zimbabwe asset sale

30th October 2002 Platinum miner Lonmin said yesterday it had completed the sale of its gold mining interests in Zimbabwe to Pemberton International Investments for $15,5-million cash. 

St Helena purchase completed

30th October 2002 The joint venture company of ARMgold and Harmony, Free Gold, yesterday announced that all the remaining conditions precedent to the acquisition of the St Helena mine from Gold Fields, have been fulfilled. 

SA iron-ore group signs deal with Chinese port

30th October 2002 South African iron-ore giant, Kumba Resources has announced an extension to its agreement with the Qingdao Port Authority for the handling and use of iron ore stockpile facilities at Qianwan Port, in the city of Qingdao in Northern China. 

Gold sold under Washington deal at 60% of total

By: Martin Czernowalow     29th October 2002 Marking the third anniversary of the Washington Agreement on Gold (WAG), the World Gold Council (WGC) reports that total sales under the agreement so far (from October 1999 to September 2002) amounted to 60% of the 2000 t scheduled for its five-year term. 

Big project push from resources giant

By: Zonika Botha     29th October 2002 A number of the world’s largest resources group’s mining projects are well under way. 

UN defends DRC mining report

29th October 2002 The chief author of a U.N. report on the plundering of Congo's riches said last week that big mining firms, despite denials, played a crucial role in the looting of the African nation's gems and minerals. 

Multi-commodity group’s Q1 profit seen at $546m

29th October 2002 The world's largest diversified miner, BHP Billiton, is expected to post a fall in first quarter profits on Thursday, hurt by weak commodity markets and unfavourable exchange rate movements. 

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