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Mining News

Madagascar to regulate minerals

8th September 2003 Madagascar aims to regulate its minerals sector and combat smuggling of gems under a $40-million project with the World Bank, a Bank official said. 

‘IDC has no right to appeal’

By: Martin Czernowalow     8th September 2003 South Africa’s State-owned Industrial Development Corporation (IDC) will most likely not have a right to appeal the Competition Tribunal’s approval of the merger between Anglo American and Kumba Resources. 

Great Basin announces Toronto listing

8th September 2003 Canadian miner Great Basin Gold has announced that it received formal approval to list its common shares on the Toronto Stock Exchange (TSX). 

Palladium soars 9,5% to 5m peak

8th September 2003 Palladium gained 9,5% to score a five-month peak on Friday as speculators placed their bets on increased demand for the precious metal due to its cheap price compared with sister metal platinum. 

Gold jumps to 7m high on weak jobs data

8th September 2003 Comex gold rose to a 7-month high Friday after unsatisfying US employment figures rocked Wall Street, pressured the dollar and created bottlenecks in precious metals as funds sought alternative investments. 

SA blasting technology marketed in S America

8th September 2003 A South African-developed blasting technology is finding growing acceptance in South America. 

Aim in joint mine hunt in SA

5th September 2003 Australian-listed Aim Resources said yesterday it had agreed to form a 50-50 joint venture with South African black empowerment group New Mining Holdings to look at developing platinum, nickel and copper mines. 

CVRD in $426m iron-ore acquisition

5th September 2003 Brazilian miner Companhia Vale do Rio Doce (CVRD) announced yesterday the conclusion of the acquisition of 50% of the ordinary shares and 40% of the preferred shares of iron-ore miner Caemi Mineracao e Metalurgia SA from Mitsui & Company for $426,4-million. 

Aids management system launched following Debswana pilot

5th September 2003 The first risk management system standard to rate and manage anti-HIV/ Aids programmes, the Aids Management Standard (AMS) 16001, was formally launched earlier this week. 

New project to provide sustainable enviro remediation

By: Zonika Botha     5th September 2003 This week saw the official opening of Chemwes, the wholly-owned subsidiary of the environmental remediation company, Mine Waste Solutions (MWS). 

Global diamond and jewellery firm enters SA

5th September 2003 Global diamond and jewellery company Rosy Blue NV yesterday announced that it had reached agreement to acquire Diamond SA from local diamond manufacturing company Diamond SA-Monnickendam. 

Randgold boss on US roadshow

5th September 2003 With his ambitious bid for Ghana's Ashanti Goldfields in the balance, Randgold Resources chief Mark Bristow could come under pressure to detail his takeover pitch as he visits US investors this week. 

Anglo wins bitter Tribunal battle

5th September 2003 South Africa gave the green light on Thursday for Anglo American Plc to acquire nearly 35 percent in the country's biggest iron-ore producer, Kumba Resources , worth about R4 billion rand ($549.4 million). 

Zimplats founder opposed to Impala takeover

5th September 2003 The founder of Australia-listed Zimbabwe Platinum Mines, Peter Vanderspuy, remains opposed to a friendly takeover by South Africa's Implats Holdings, Zimplats said at the weekend. 

Alexkor land claim goes to ConCourt

5th September 2003 A Richtersveld community will ask the Constitutional Court today to uphold a Supreme Court of Appeal judgment that restored the ownership of diamond-rich land to them. 

Ghana mulls forest mining licences

4th September 2003 Ghana is looking to grant five licences for companies to mine gold in forest reserves, partly because these areas have already been badly damaged, and it has set conditions for awarding the permits, the mines minister said this week. 

Kansanshi to build $8m acid plant

4th September 2003 Canadian First Quantum Minerals’ subsidiary Kansanshi Mining said this week that it would build a plant to produce 100 000 t of sulphuric acid annually at its new mine in northwestern Zambia. 

Two big Zambian copper mines extend lives

4th September 2003 Two of Zambia's biggest copper mines have each extended their life-span by more than ten years after installing new mining technology, the government said yesterday. 

Barrick issues responsibility report

4th September 2003 North American gold-miner Barrick Gold Corporation this week released a responsibility report documenting its policies and performance for environmental, health, safety and social responsibility at its operations and joint ventures worldwide. 

Competition Tribunal approves RPM-Aquarius merger

4th September 2003 South Africa’s Competition Tribunal yesterday recommended an unconditional approved of a merger between Rustenburg Platinum Mines, a subsidiary of Anglo Platinum, and Aquarius Platinum (SA). 

Implats extends offer to minorities

4th September 2003 Platinum giant Impala Platinum (Implats) yesterday announced that minority shareholders in Zimbabwe Platinum Mines (Zimplats) could sell their shares to Implats on market until September 11, 2003. 

Miners may be called upon to contribute to radioactive waste fund

By: Terence Creamer     4th September 2003 The South African mining industry may be soon be called upon to contribute to a new radioactive waste management fund as part of an emerging government strategy to deal with this category of waste. 

Zambia’s new mine power project starts in October

3rd September 2003 Zambian power utility Zesco will start construction of a 330 kilovolt power line to the new Kansanshi mine in the northwest of the country in October, according to a joint agreement signed on Monday. 

Palamin ups mine production

3rd September 2003 South African copper group Palabora Mining Company (Palamin) said yesterday production at its underground mine had hit a record rate of 20 800 t a day in the last week of August. 

EIA for Eskom coal supply routes advances

By: Martin Czernowalow     3rd September 2003 The scoping phase of the environmental-impact assessment (EIA) for proposed long-term coal supply to the Tutuka and Majuba power stations, in the Mpumalanga Province, is reaching completion. 

UK investment firm sets up to focus on SA mining

3rd September 2003 UK-based investment company Renaissance Industrial Development has established a subsidiary in Sandton, Johannesburg, with an aim to establish joint ventures with Southern African companies, offering project financing in exchange for equity, with particular focus on the mining industry. 

Marula recognised for social upliftment

3rd September 2003 South Africa’s Marula Platinum operation, which is 80%-owned by Impala Platinum (Implats) and 20% by black economic empowerment (BEE) partnerships, has been named joint winner, together with the Joint Development Forum (JDF), of the Visionary Client of The Year Award, in the Sekhukhune... 

Miner Antofagasta to demerge key asset

3rd September 2003 London-listed miner Antofagasta offered its investors a cash bonanza yesterday as it unveiled plans to demerge a key investment in a Chilean conglomerate to focus on its mainstay mining business. 

State increases small-scale mining spend

3rd September 2003 Speaking in Malaysia, South African Minister of Minerals and Energy Phumzile Mlambo-Ngcuka announced that her department has increased the annual funding allocated to assist the development of the small-scale mining sector, from R5,1-million to R15-million for the 2003/04 budget year. 

Hope Downs’ search for partner could start this month

By: Martin Czernowalow     3rd September 2003 An information memorandum calling for offers for part of the Hope Downs iron-ore project, in Western Australia, could be sent out before the end of this month. 

BHPB says Mozal expansion completed

2nd September 2003 Global diversified miner BHP Billiton said last week its Mozal II aluminium smelter in Mozambique had now reached full production, seven months ahead of schedule. 

Competition Tribunal's iron-ore ruling imminent

By: Martin Czernowalow     2nd September 2003 A Competition Tribunal decision that could significantly affect the future of the South African iron-ore industry is expected to be announced within a week. 

Global gold hedge book continues to decrease

2nd September 2003 Perhaps against expectations, the scale and pace of dehedging experienced during the second half of 2002 and into the first quarter of this year was maintained in the second quarter, Gold Fields Mineral Services (GFMS) said. 

Rio Tinto in steel-technology deal

2nd September 2003 A Rio Tinto subsidiary last week signed a HIsmelt Process Licence with the Laiwu Steel Group of China to allow for the development of an iron-making facility using world leading HIsmelt technology. 

Aussie gold output climbs for the first time in 5 years

2nd September 2003 Australia’s gold-mining industry turned in a strong operating performance for the 2002/03 year producing 9,2-million ounces, a rise of almost five per cent on the 2001/02 total. 

Shareholders approve Harmony-ARMgold merger

2nd September 2003 South African gold-miners Harmony and ARMgold yesterday announced that their respective shareholders “overwhelmingly approved” the merger of the two companies. 

Happy mining, rugby coincidence Downunder

1st September 2003 There's an added bonus for South Africans, and other African delegates, travelling to Perth for the inaugural "Africa Downunder" mining conference in the West Australian capital during October, the organisers claim. 

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