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R/$ = 16.47 Change: -0.07
Au 1876.83 $/oz Change: -29.68
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Mining News

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. 

Randgold Resources: the finder turns keeper

By: elizabeth rebelo     1st September 2003 Randgold Resources has a great reputation as a finder of gold prospects.Now it wants to show its worth as a keeper of them as well. 

China coal mine awards mine-hoist contract

1st September 2003 Leading power and automation technology group ABB, said at the weekend that it had won a contract to supply two complete mine hoists to Tunliu coal mine, belonging to Luan Mining Group in China. 

Joburg gears up for big rock-mechanics gathering

By: nkolola halwindi     1st September 2003 Mine closure, seismicity, slope stability, tunnelling, rock mass classification and rock fracture are among the key topics to be discussed at the International Society for Rock Mechanics (ISRM) congress to be held at the Sandton Convention Centre, in Johannesburg, next month. 

Canadian junior seeks SA partner for Mali project

By: Keith Campbell     1st September 2003 If a junior mining company needs investors or partners for a promising prospect somewhere in Africa, it should go to Canada – especially the Toronto Stock Exchange – to find what it wants. Or so it has popularly been believed. 

‘Constructive discussions continue around RBCT’

1st September 2003 South African transport utility Transnet and the Richards Bay Coal Terminal (RBCT) said, in a joint statement, that they were continuing “constructive discussions” on a series of expansion and empowerment initiatives at RBCT. 

BHPB appears beaten to Drax bid

1st September 2003 International Power entered at the weekend into exclusive talks to take control of Drax, Britain's biggest power station, after beating off competition from three other bidders, the companies said. 

Alcoa says no pressure to raise Elkem stake

29th August 2003 US aluminium giant Alcoa feels no pressure to try to raise its stake in Norwegian metals group Elkem after a failed 2002 bid to win control, chief executive Alain Belda was quoted as saying yesterday. 

DCR’s new minister of mines in diamond dispute

29th August 2003 Democratic Republic of Congo's new minister for mines said on Wednesday that an inquiry has been launched after his efforts to restructure diamond sales in the central African country suffered a setback. 

Zambian copper operation seeks to enlarge

29th August 2003 Listed Canadian mining company First Quantum Minerals announced yesterday that its 100% owned Bwana Mkubwa facility produced 2 656 t of LME Grade "A" copper cathode in July. 

‘Drax acquisition would boost coal business’

By: Martin Czernowalow     29th August 2003 The world’s biggest diversified miner, BHP Billiton, said yesterday that its interest in Britain’s Drax power station stems from its potential to complement the company’s upstream business. 

Implats on track to deliver 2m oz by 2006

By: laurian clemence     29th August 2003 Platinum miner Impala Platinum (Implats) yesterday reported a solid operational performance for the year ended June 30, 2003, despite a 25% slide in net profits to R3,4-billion, mainly due to the appreciating rand. 

Higher platinum price possible but harmful-Implats

29th August 2003 Platinum could push above this week's 23-year peaks on speculative buying, but such prices harm the precious metal's long-term viability, world number two producer Impala Platinum Holdings said yesterday. 

Dehedging asphixiates gold options trade

28th August 2003 The once frothy gold options market is drying up as mining companies comply with new hedge accounting rules and try to retain the confidence of investors still infuriated by the gold derivatives debacle four years ago. 

Promising drill results from Chile copper deposit

28th August 2003 Canadian explorer Mandalay Resources reported that the recent drilling of 14 holes on the company’s 100 sq km La Quebrada property in Chile, confirmed promising intersections of widespread, near-surface, disseminated copper and silver mineralisation over a 10 km strike length. 

RBCT cautious about Transnet’s announcement

By: Martin Czernowalow     28th August 2003 Negotiations regarding the expansion of the Richards Bay Coal Terminal (RBCT) appear to be proceeding well and stakeholders are optimistic that the project could move ahead shortly. 

Explosives firm in R5,5m BEE transport deal 

28th August 2003 South African mining explosives supplier, Bulk Mining Explosives (BME), has unveiled a R5,5-million a year black economic empowerment (BEE) procurement deal in association with Cargo Carriers’ new owner driver scheme. 

Samancor eyes Oz to replace output

28th August 2003 South Africa's major ferro-alloys producer Samancor may pull silicomanganese production from one of its smelters in Australia to replace lost output at its fire-damaged Metalloys plant in South Africa, a spokesperson said. 

Zimplats says rival bid would be cash and script

27th August 2003 Zimbabwe Platinum Mines (Zimplats) said on yesterday a proposed rival takeover offer of minority shares by Zimbabwe's Barbican Holdings would include a combination of cash and script. 

Metorex has ‘difficult and frustrating’ year

27th August 2003 South Africa’s Metorex yesterday reported headline earnings of R12,8-million for the year ended June 30, compared with R90,4-million in 2002, following what chairperson Simon Malone described as "a difficult and frustrating year". 

Transnet-RBCT clear way for terminal expansion

By: Terence Creamer     27th August 2003 Transnet CE Mafika Mkwanazi yesterday confirmed that all hurdles had been cleared for the expansion of the privately-owned Richards Bay Coal Terminal (RBCT) in Kwazulu-Natal to 82-million t/y. 

Implats lifts stake in Zimplats to 61,5%

27th August 2003 Zimbabwe Platinum Mines (Zimplats) said today friendly suitor Impala Platinum Holdings of South Africa had increased its stake by more than ten per cent to 61,5%. 

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