R/€ = 20.78 Change: 0.01
R/$ = 17.63 Change: 0.00
Au 2034.31 $/oz Change: -26.60
Pt 960.81 $/oz Change: -11.76

Mining News

Gold firm does prospecting on the Web

27th March 2002 Canadian miner Goldcorp’s CE Rob McEwen is looking for his next big gold property on the World Wide Web, and he is offering $2-million in prizes to anyone who can help find it in a global challenge. 

Resource giant halts iron deliveries

27th March 2002 Diversified miner BHP Billiton said it could not meet supply contract obligations from its iron plant in Western Australia after suspending operations because of a technical mishap. 

SA mining technology for China

27th March 2002 South Africa is targeting China, and particularly that country's gold-mining sector, as an export market for local mining and processing technologies, equipment and services, Mining Weekly can report. 

Zambia meets on Copperbelt crisis

26th March 2002 Zambia’s government will meet with its key donors and Anglo American today to hammer out a plan for the future of critical copper-mines Anglo is close to jettisoning, Zambia’s vice-president said. 

SA gold firm frontrunner for Oz investment

26th March 2002 Shares in Newcrest Mining gained a further 7% yesterday as investors bet the Australian gold major was ripe for takeover or planned a major asset sale to fund growth. 

Moroccan miner hurt by world slowdown

26th March 2002 Morocco’s second-largest mining operator, Managem, said its net profit fell 49,3% in 2001 due mainly to the world slowdown and a fall in metals prices. 

Gem giant approves 'Big Hole' tourism project

26th March 2002 The first phase of the Big Hole Project has been approved by De Beers board. The aim of the project is to develop the Big Hole precinct into a world-class tourism facility. 

Copper rally should not result in ill-discipline

25th March 2002 The world’s largest diversified miner, BHP Billiton warned against excessive bullishness about copper prices, regaining ground this week on hopes of a world economic recovery. 

Cobalt drifts lower, market looks for supply cuts

25th March 2002 European cobalt prices continued to drift lower this week against a background of slack consumer demand, traders said. 

No obvious buyer for Zambia's Konkola mines

25th March 2002 Delegates at a copper conference in Chile said they saw no obvious buyers for Zambia’s cash-starved Konkola Copper Mines (KCM), close to being jettisoned by Anglo American. 

Empowerment arm makes another investment

25th March 2002 The business development and empowerment arm of Anglo American, Zimele, completed its second investment for this year. 

First aid needed for mining safety in S Africa

22nd March 2002 Despite large-scale efforts being made on all fronts to improve safety in the mining industry, calculations from the chief inspector of mines indicate that a woeful 59 lives were lost in the first two months of this year in the platinum and gold sectors alone – this equates to one mine... 

Belgium probes coltan-smuggling allegations

22nd March 2002 The commission of enquiry of the Belgian Senate on the exploitation of mineral resources of Democratic Republic Congo (DRC) heard the testimony of two researchers from the International Peace Information Service (IPIS), based in Antwerp, Belgium, on coltan trade in eastern DRC. 

China's top copper frim to raise output 20%

22nd March 2002 The listed arm of China’s top copper producer Tongling Non-ferrous, Anhui Tongdu Copper, said its 2002 copper output is likely to rise 20% to 140 000 tons. 

SA gold major takes a stake in Oz explorer

22nd March 2002 A Kalgoorlie-based company, Avoca Resources, has attracted the backing from Johannesburg-based gold group Gold Fields, which intends to subscribe for an effective 14% stake in the company. 

Ottowa talks fail to produce 'blood diamonds' deal

22nd March 2002 Government negotiators and diamond industry officials failed to agree on ways to curb trade in ‘blood diamonds’ that are mined in some of Africa's worst conflict zones, but said they had made great progress toward a deal. 

Firm goes for lion's share mining wheel rim market

By: Deborah Spicer     22nd March 2002 A joint venture between OTR Wheel Engineering and Dorbyl SA, Heidelberg firm GuestOTR, has set its sights on securing 60% of the R42-million South African offroad and mining rim market with its seamless rolled rims, reveals GM Sandro Pagliarulo. 

Governments meet to finalise gem certification

20th March 2002 Aid organisations called on governments from diamond-producing countries to finalise an agreement to end the trade in ‘blood diamonds’, used to fuel long-standing wars in Africa. 

Ghana gold-miner in debt-reduction deal

20th March 2002 African miner Ashanti Goldfields said it had signed up major creditors to a debt-reduction plan and taken steps to help ensure its hedge book did not come back to haunt it. 

SA bank offers financing facility for DRC venture

20th March 2002 A project finance facilty of $4,5-million has been secured with Rand Merchant Bank by Anvil Mining for the stage-one development of the Dikulushi deposit in the Democratic Republic of Congo. 

Irish miner receives expressions of interest for Moz project

20th March 2002 Irish mining firm Kenmare Resources has received expressions of interest to provide loans totalling $130-million for the development of the Moma Titanium Minerals Project in Mozambique. 

New mining power restructures, lists

20th March 2002 Swiss minerals group Xstrata said shareholders had approved a restructuring plan involving a $2,5-billion takeover of foreign coal assets and moving the company’s primary listing to London. 

Resources giant concludes R1,3bn worth of business with small BEEs

20th March 2002 Natural resources group Anglo American has announced that its divisions and operations recorded R1,286-billion worth of transactions concluded through the procurement of goods and services to black-owned small to medium enterprises (SMEs) during the 2001 fiscal year. 

Gold major now eyes downstream consolidation

19th March 2002 South Africa’s leading gold producer has forecast gold production of 5,8-million ounces at a total cash cost of $154/oz and capital expenditure of $268-million for 2002, in its annual report released yesterday. 

Zambian copper talks heat up

19th March 2002 Multistakeholder negotiations, through the Konkola Copper Mines (KCM) shareholders’ steering committee, are heating up in a last-ditched attempt to restore financial stability at Zambia Copper Investment (ZCI) and KCM and to ensure that KCM’s operations are 

Cockerill on consolidation, Central Bank sales

19th March 2002 South Africa’s Gold Fields said the recent bidding frenzy for Australia’s Normandy Mining may slow the pace of industry consolidation as potential suitors look harder at the value of assets. 

Russian PGM producer mulls spot sales

19th March 2002 The world’s largest palladium producer, Norilsk Nickel, may resume spot sales of the metal if prices rise to a range of $400 to $600 a troy ounce. 

Big pay package for mining boss

19th March 2002 Swiss miner Xstrata chief executive Mick Davis is to receive a bumper pay deal of  

SA gold firm extends OZ offer

19th March 2002 South Africa’s Harmony Gold said it had extended its offer to minority shareholders in Hill 50 to March 22, adding it now had an 83,22% fully diluted interest in the Australian miner. 

R1,3bn shaft-deepening out to prove that deep is cheap

18th March 2002 Leading gold-miner AngloGold, smarting from its failed attempt to snatch Australian company Normandy, looks set to grow organically, with some of the additional output coming from the Mponeng mine, about 65 km south-west of Johannesburg. 

Swiss miner plans to raise £850m in London IPO

18th March 2002 Miner Xstrata, which plans to list on the London stock market, boosted the fund-raising target for its initial share offer by  

Aussie PGM firm wants main-board London listing by May

18th March 2002 Emerging platinum producer Aquarius has applied to the London Stock Exchange (LSE) to migrate its current listing from the Alternative Investment Market (AIM) to the main board of the LSE. 

Techno firm acquires rockdrill business

18th March 2002 Mining technology firm Boart Longyear has acquired the Swiss-based rockdrill division of SIG Produktionstechnik. 

Diamond group in asset-transfer deal

18th March 2002 Canadian diamond firm Trans Hex International (THI) said it had entered into a letter of intent with the Trans Hex Group (THG) in which the parties had agreed to an alternative transaction to a court-approved winding up of THI. 

Board head seeks to streamline gem trading regime

15th March 2002 The chairperson of the South African Diamond Board Abbey Chikane says that new challenges in relation to diamond trading are being dealt with by the Department of Minerals and Energy (DME), which are aimed at improving and streamlining the regulatory environment for the downstream diamond industry. 

Mining tech group is core to Anglo

15th March 2002 Natural-resources company Anglo American has formally declared that it would retain its mining-technology subsidiary, Boart International, as a core business. 

Mining leads SA's export surge

15th March 2002 South African exports are expected to lead domestic economic recovery, with the mining industry being well placed to lead the sector, report economists at Absa. 

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