R/€ = 19.48 Change: 0.01
R/$ = 16.47 Change: 0.01
Au 1911.42 $/oz Change: 10.79
Pt 878.64 $/oz Change: 23.10

Mining News

Canadian miner starts second Ghana drill programme

7th August 2003 Canadian miner PMI Ventures has announced the start of its second diamond-drilling programme for the year on the Fromenda concession, located on the Asankrangwa Gold Belt in southwest Ghana. 

Lwala chrome-mine enviro study moves ahead

By: Martin Czernowalow     7th August 2003 The draft environmental-impact report (EIR), to develop an environmental management programme report for Samancor Chrome’s proposed Lwala development, will be available for public comment later this month. 

Harties holds up DRD wage deal

By: Martin Czernowalow     7th August 2003 A wage agreement between marginal South African gold miner Durban Roodepoort Deep (DRD) and the National Union of Mineworkers (NUM) seems imminent, and a deal would bring to an end a bitter and protracted wage-bargaining struggle. 

Suriname alumina refinery output to rise 12%

6th August 2003 Partners in Suriname's Paranam alumina refinery said yesterday they would spend $65-million to boost annual production at the South American plant by 12%. 

AngloGold likely to reduce Ashanti gold hedges

6th August 2003 South Africa's AngloGold said yesterday it was likely to act fast to reduce Ashanti Goldfields's gold hedge book if it succeeded in buying the Ghanian mining house. 

Max Sisulu appointed to Harmony board

6th August 2003 South African gold producer Harmony Gold Mining Company yesterday announced that Max Vuyisile Sisulu has accepted an invitation to join the company’s board of directors. 

Highland Gold to open Siberian mine

6th August 2003 Russia’s Highland Gold Mining, backed by foreign investors, said yesterday it would soon add a new a mine to its operations in Siberia in a move likely to stir Western interest in Russian gold extraction. 

Kenya seeks gold investors

6th August 2003 Kenya said yesterday it had significant gold deposits in northwestern areas. 

Anglo-Kumba competition hearing resumes today

By: Martin Czernowalow     6th August 2003 The Competition Tribunal hearing into Anglo American’s acquisition of a further stake in South Africa’s biggest iron-ore producer, Kumba Resources, is set to continue today and tomorrow. 

Harmony owns world’s biggest resource base

6th August 2003 South African gold-miner Harmony Gold Mining Company yesterday announced details of its annual restatement of its ore reserves, revealing that it also owns the world’s biggest resource base. 

AngloGold deep-level skills could boost prospects for Ghana’s Obuasi

By: Martin Czernowalow     6th August 2003 South African gold producer AngloGold said yesterday its proven ability to develop deep-level mining projects will maximise the opportunity for the development of deep-level mining at Ashanti’s Obuasi Deeps mine. 

Ghana not opposed to Ashanti AngloGold deal

6th August 2003 Ghana said yesterday it was not opposed to AngloGold's proposed $1,1-billion takeover of its miner Ashanti Goldfields, but was not certain it was the best possible deal for one of its national treasures. 

Miner in $600m convertible bond issue

5th August 2003 London-listed coal and zinc miner Xstrata said yesterday it was raising $600-million through an issue of guaranteed convertible bonds, taking advantage of lower interest rates to cut borrowing costs. 

AngloGold wants to exit some Australian ground

5th August 2003 South Africa-based AngloGold said yesterday it was seeking to divest some Australian gold mining ground amid efforts to diversify outside of South Africa. 

Aflease reports R28,5m operational loss

5th August 2003 South African gold miner Afrikander Lease (Aflease) yesterday reported an operational loss of R28, 5-million for the June quarter, compared with an operating loss of R14-million for the March. 

Gold-miner announces BEE joint venture

By: Martin Czernowalow     5th August 2003 South African gold-miner Afrikander Lease (Aflease) announced that it has entered into a black economic empowerment (BEE) joint venture agreement with Umbhono Resources. 

Fate of AngloGold-Ashanti merger still in Ghana's hands

5th August 2003 South Africa's AngloGold Ltd on Monday said Ashanti Goldfields' top shareholder agreed to support its $1,1-billion acquisition of the African mining company, but the transaction's fate still rests with the government of Ghana. 

Diamond mining not forever?

By: Keith Campbell     4th August 2003 South Africa’s diamond-mining industry is seriously concerned not only about the proposed new royalties regime for the local mining industry, but also about the fact that their sector has been singled out for much heavier imposts than the rest of the industry. 

DFI moves to diversify portfolio

4th August 2003 Marine diamond miner, Diamond Fields International of Canada, announced on Friday that it planned to expand and diversify its current operations and mining-asset base through the acquisition of a number of land based exploration projects. 

New goldfields map of South Africa

4th August 2003 Consulting firm Banzi Geotechnics,owned by Barker and Associates, is in the process of launching a gold map of South Africa. 

Gold Fields reports bumper production year

By: Martin Czernowalow     4th August 2003 The world’s fourth-biggest gold producer, Gold Fields, reported record production of 4,33-million ounces for the year to June, the highest since the company’s inception in 1998, and a 5% increase on last year’s production. 

Canadian junior reports second quarter profit

4th August 2003 Canadian junior miner Etruscan Resources has announced that it earned a net income of $3,6-million for the six months ended May 31, which compares with a net loss of $420 000 for the same period last year. 

Plan to boost industrial demand for gold

4th August 2003 The world's leading gold researchers and industrialists will meet from September 28 to October 1 in Vancouver, Canada, to discuss how the latest advances in gold science and technology can be commercially exploited, with the aim of doubling industrial demand for gold over the next decade. 

Gold producer eyes China for expansion

4th August 2003 South African miner Gold Fields sees China as a key long-term frontier for expansion, and in the near term will target Africa rather than the US, chief executive Ian Cockerill said on Friday. 

R1,2bn TauTona project gets the nod

By: Terence Creamer     1st August 2003 South Africa’s leading gold producer, AngloGold, is to proceed with a R1,2-billion project at its TauTona mine, which will deliver 1,8-million additional ounces over the next ten years. 

De Beers Marine Namibia to raise output 21%

1st August 2003 Marine diamond producer De Beers Marine Namibia said on Wednesday that its newly acquired vessel, the Gariep, would boost the company's 2004 output by 21%, following a R515-million conversion. 

Canadian miner prepared for surge in platinum demand

1st August 2003 Canadian-listed miner Platinum Group Metals expects to see an increase in the demand for platinum and palladium and believes it is in a good position to take advantage of this trend. 

Oz dollar knocks Rio Tinto profits

1st August 2003 The world's second-largest diversified miner, Rio Tinto, posted a surprisingly weak first-half profit yesterday, as a strong Australian dollar and weak thermal coal earnings more than offset rising iron-ore sales to a steel-hungry China. 

Trans Hex holds first Angola diamond sale

1st August 2003 South African diamond-miner Trans Hex has concluded the first sale from its Luarica operation in Angola, having started mining there in April. 

SouthernEra announes good drill results at SA project

1st August 2003 Canadian diamond explorer SouthernEra Resources announced yesterday that the second-phase drilling programme at its wholly-owned Millennium Platinum Project, in South Africa, has resulted in the declaration of an indicated resource of 30,6-million tons, grading 3,76 g/t. 

Williams warns on gold offtake slump

1st August 2003 AngloGold’s gold-market guru, Kelvin Williams, who is also arguably one of the world’s leading authorities on the subject, has warned that all gold producers should be concerned about current declines in physical offtake. 

Godsell hopes for Ashanti clarity by September

By: Terence Creamer     1st August 2003 Africa’s leading gold miner, AngloGold, is hoping to receive clarity by mid-September about the status of its bid for another African gold giant, Ashanti Goldfields of Ghana. 

Kenmare signs sales agreements for zircon

1st August 2003 Mining group Kenmare Resources has announced that forward sales contracts to place additional material from its Moma Titanium Mine, in Mozambique, have been signed. 

AngloGold reports lower earnings, higher output

1st August 2003 South Africa's AngloGold, the world's second-biggest gold-producer, said yesterday a robust rand trimmed second quarter earnings, but the decline was partly cushioned by higher gold output. 

Over 50 countries qualify for Kimberley Process

1st August 2003 Participants in a global pact to curb trade in ‘blood diamonds’, blamed for funding Africa's wars, announced yesterday that 54 out of 72 applicant countries had met minimum standards for trading the gems. 

Brett Kebble resigns from Randgold Resources board

1st August 2003 Following his appointment to the Randgold & Exploration board, Brett Kebble has resigned as a director of Randgold Resources, the London and Nasdaq-listed company in which Randgold & Exploration has a 43% interest. 

Ghana wants AngloGold to improve offer for Ashanti

31st July 2003 Ghana wants South African gold producer AngloGold to improve the terms of its offer for state-controlled Ashanti Goldfields, a source close to the talks said on Tuesday. 

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