R/€ = 20.78 Change: 0.01
R/$ = 17.63 Change: 0.00
Au 2034.25 $/oz Change: -26.66
Pt 959.45 $/oz Change: -13.12

Mining News

Ethiopia’s gold earnings leap to $38m

4th September 2002 Ethiopia's hard currency earnings from gold soared to 318,8-million Ethiopian birr ($38,18-million) in the 2001/02 fiscal year, a 67% rise over last year, the Ethiopian Customs Authority said on Monday. 

No agreement in Chile copper-mine tax dispute

4th September 2002 Chile's government said on Monday it failed to reach an agreement with Exxon Mobil, in a top-level meeting, to resolve tax and legal disputes that have snagged Exxon's $1,3-billion sale of mining assets. 

Partnership launched to foster mining and biodiversity

4th September 2002 The International Council on Mining and Metals (ICMM), the global voice of the industry, and IUCN – The World Conservation Union – recently launch a partnership to work together on mining and biodiversity. 

Gem giant seeks to diversify resource base

By: Keith Campbell     4th September 2002 South African diamond giant De Beers has reaffirmed its determination to diversify its resource base away from Southern Africa. 

Miners’ lawyers issue ultimatum

4th September 2002 Lawyers for South African miners suffering from asbestos-related illnesses said yesterday they had given London-listed Cape an ultimatum to pay an out-of-court settlement by Sept 14 or face court. 

Unions and mines set to fight Aids

By: Martin Czernowalow     3rd September 2002 Representatives of management of the South Deep Gold Mine, United Association of South Africa (UASA) and National Union of Mineworkers (NUM) recently signed an agreement to launch an encompassing HIV/Aids preventative, management and care programme at the mine. 

Miners cut 365t of gold hedges – report

3rd September 2002 Gold miners worldwide reduced their hedge positions by 365 tons or 11,7-million ounces in the first six months of this year, a survey by JP Morgan shows, industry web site reported yesterday. 

Major China copper firms to cut output

3rd September 2002 Ten major Chinese copper producers have agreed to cut copper output by a combined 120 000 tons this year due to a shortage of concentrates and dismal prices, an industry official said yesterday. 

Marine mining vessel chartered to diamond project

3rd September 2002 South African diamond miner Trans Hex has entered into a short-term charter contract with De Beers Marine to provide a deep-water mining vessel to conduct diamond-sampling activities off the Namibian coast. 

A millennium of mining SA

By: Keith Campbell     2nd September 2002 At the dawn of the twenty-first century, South Africa's single most valuable export is, again (it was briefly usurped by platinum) gold – just like it has been for the past one thousand years. 

SA resources firm signs zinc joint venture in China

2nd September 2002 South African miner Kumba Resources said on Thursday it had signed a joint-venture deal to expand and operate a zinc refinery and smelting operation in Inner Mongolia in China. 

Chilean lawmaker sues over copper-mine tax evasion

2nd September 2002 A Chilean lawmaker lodged a criminal suit in Santiago on Thursday against US oil giant Exxon Mobil, for alleged tax infractions, in a worsening row over Exxon's planned $1,3-billion sale of mining assets. 

Metallurgical agency gains quality seal

2nd September 2002 The State’s metallurgical agency, Mintek, announced last week that its Quality Management System (QMS) has been certified as meeting the requirements of the ISO 9001:2000 International Standard, following an assessment by the Society General de Surveillance (SGS). 

Output increases at Free State mine

2nd September 2002 Gold producer Thistle Mining has reported a mine-site cash surplus of $5,2-million at the company’s newly acquired President Steyn Gold Mine (PSGM) in South Africa for the second quarter to June 30. 

Coal stakeholders commit to clean-up

By: Martin Czernowalow     2nd September 2002 During a one-day conference on “Coal and Sustainable Development”, held as a parallel event to the Joburg Summit last week, the Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, put forward a proposed declaration regarding coal and sustainable development in developing countries. 

Resources giant to announce empowerment deal

30th August 2002 Global diversified miner Anglo American and South Africa's mining minister will announce a black people's participation deal today, an Anglo spokeswoman said. 

Mining in spotlight at Joburg Summit

30th August 2002 Today mining comes under the spotlight at World Summit for Sustainable Development (WSSD), with a series of sessions, both at the Business Forum in Sandton, as well as at the Civil Society gathering at Nasrec. 

Lawyers aim to delay Gencor sale of platinum stake

30th August 2002 Lawyers for South African miners suffering from asbestos-related diseases said on Wednesday they plan to increase pressure on Gencor to stop it from selling its main asset until it has settled their claims. 

Platinum major backs waste-management empowerment

30th August 2002 Anglo Platinum announced yesterday that it will outsource the entire waste management function, at its Rustenburg Platinum Mine, in a significant black empowerment deal. 

Tanzanite miners died by suffocation - probe

30th August 2002 An investigation into the deaths of 39 tanzanite miners found that the men suffocated after inhaling carbon monoxide produced by a dynamite explosion in the mine shaft, Commissioner of Mines Gray Mwakalukwa said. 

Coal giant in KZN empowerment move

30th August 2002 Global diversified miner Anglo American said on Friday its Anglo Coal unit had sold its coal reserves in South Africa's KwaZulu-Natal province (KZN) to black-owned Leeuw Mining and Exploration. 

Gold-miner’s spat with steel giant heats up

By: Terence Creamer     29th August 2002 South Africa’s third-largest gold-miner, Harmony, is expected to lodge its official complaint against steel company, Iscor, with the Competition Commission either this week or next. 

Hopes of tighter gold-mine supply may be in vain

29th August 2002 Investors in gold, who are counting on a sharp fall in mined bullion supplies to raise prices, may be disillusioned, metal analyst Kamal Naqvi said on Tuesday. 

Accelerating coal research could save billions – report

29th August 2002 The payoff from accelerating research and development (R&D) in coal generation technology could be between $300-billion and $1,3-trillion, and the prime beneficiary would be the power-consuming public, according to a study cosponsored by EPRI (the Electric Power Research Institute) and LCG... 

Talks on sustainable use of coal

29th August 2002 The Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka will be conducting a "Coal and Sustainable Development" Conference, a parallel event to the Johannesburg World Summit (WSSB), today from 8:30am to 5:00pm at the Eskom Convention Centre, in Midrand, Gauteng. 

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. 

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