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Mining News

Free State gold-mine targets costs of $100/oz or less

12th March 2002 Gold company Avgold opened South Africa’s first new deep-level gold-mine in 20 years on Friday, where it is deploying cutting-edge technology aimed at reducing costs to $100 an ounce. 

Canadian mine resumes tungsten exports

12th March 2002 North American Tungsten Corporation said it had shipped its first supply of clean tungsten concentrate to a US and Swedish client from a Canadian mine that was closed for 15 years. 

Mining giant in R4bn iron-ore move

12th March 2002 Mining giant Anglo American has acquired significant stakes in two South African mining companies - Kumba Resources and Anglovaal Mining (Avmin) - in a bid strengthen its hand in the iron-sector. 

How safety boosts share value

11th March 2002 New Impala Platinum (Implats) CEO Keith Rumble has a passion for safety in the work environment. There are two reasons for his commitment, the first being that safety saves lives, and the second that a good safety record boosts share values. 

Aluminium demand slumps

11th March 2002 World demand for primary aluminium fell by 4% in 2001, the first appreciable decline since 1993. Recession is now in the air, and there is widespread uncertainty as to how deep it will be, how long it might last, and whether the recovery will be sharp (v-shape), slow (u-shape) or stuttering... 

Junior optimistic about gem propsect

11th March 2002 Small diamond-miner Kimberley Diamond Company has moved a step closer to confirming the source of the Terrace 5 alluvial diamond system after announcing encouraging results from microdiamond samples taken from lamproite drilling at the Ellendale Diamond Project. 

Gold company CEO headed back for SA

11th March 2002 Gold-miner Durban Roodepoort Deep’s chief executive officer Mark Wellesley-Wood will come back to South Africa after Home Affairs Minister Mangosuthu Buthelezi instructed his department to enable him to return. 

Challenging time for mining techno firm

8th March 2002 A deepening global recession exacerbated by the events of September 11, lowered industrial production in developed countries, and further depressed mineral exploration world-wide, were among the many challenges faced by Boart Longyear in 2001. 

Zambia copper output climbs but woes continue

8th March 2002 Zambia’s embattled miners exported more copper in January than a year ago, but at prices which underlined why mining giant Anglo American is poised to quit the country, central bank data showed. 

Gem empowerment deal announced

8th March 2002 Black-owned diamond-mining company New Diamond Corporation (NDC) signed a R38-million deal with De Beers for the purchase of the dormant Kamfersdam mine and tailings dumps near Kimberley. 

French aluminium giant mulls E Cape smelter

8th March 2002 French aluminium firm Pechiney said it was on its way to opening a 460 000 tons a year smelter in South Africa’s Eastern Cape province after striking an advance deal to supply it with power. 

Algeria in zinc privatisation effort

7th March 2002 Algeria’s government is offering State-owned metals firm Metanof for privatisation as part of efforts to breathe life into its stalled sell-off process. 

Gold hedges tapering off

7th March 2002 Gold hedges will taper off in the next year as mining houses seek greater price exposure, said Virtual Metals Research & Consulting. 

Aussie steel firm's product escapes US tariffs

7th March 2002 Resources company BHP Billiton said its largest single category of steel exports to the US had escaped the hefty new tariffs announced by President George W Bush. 

Tantalum demand expected to rise

7th March 2002 Demand for tantalum, a metal mined by Australia’s Sons of Gwalia, which is used to make electronic parts, may rise as much as 10% a year through 2005, boosted by use in cars, consultant Roskill Information Services said. 

DRC resource panel resumes work

6th March 2002 Possible actions could be taken by the UN Security Council and the international community in order to help bring an end to the plundering of natural resources in the Democratic Republic of Congo (DRC). 

SA group buy Oz mining engineering firm

6th March 2002 South African energy group Sasol said it had acquired a 50% stake in the explosives blasting services unit of Australian transport and mining engineer Downer EDI. 

Zinc miners hurt by poor prices

6th March 2002 The Canadian zinc-miner caught in a liquidity crunch as zinc prices tumbled to 14-year lows last year, Breakwater Resources, posted a deeper annual loss for 2001 but said financings were enough to meet its cash needs until the end of 2002. 

Another eastern-limb site receives attention

6th March 2002 The latest site of intensive platinum-group metal (PGM) exploration on the high-yielding Bushveld Igneous Complex’s eastern limb is the Helena and Der Brochen farms. 

Port authority in final talks on coal terminal

5th March 2002 Negotiations regarding a new lease agreement and a tariff structure between the National Ports Authority (NPA) and the Richards Bay Coal Terminal (RBCT) are currently under way – on completion, the way will be opened for a significant expansion of the coal terminal. 

SA mining giant in running for Chile copper

5th March 2002 Chile’s Codelco, the world’s largest copper producer, has withdrawn from a contest to buy Exxon Mobil’s copper company Disputada de las Condes, worth an estimated $1-billion. 

Zambia's copper output rises despite woes

5th March 2002 Zambia’s primary copper exports rose to 296 929 tons in 2001 from 216 655 tons in 2000 but copper prices fell by 6,1%, to $0,77/lb, Finance Minister Emmanuel Kasonde said. 

Ghana gives aluminium reprieve

5th March 2002 Ghana has given the Volta Aluminium Company (Valco) extra time to shut down two of the four operating potlines at its 200 000 t/y capacity smelter. 

SA gold group hits the mark with terrific Target

4th March 2002 There can be little doubt that Avgold has scored a bull's-eye with its new, fully-mechanised R2,3-billion (in 2002 rands) Target gold-mine, in the northern Free State, Mining Weekly can report. 

DRC mine to boost Zambian operation

4th March 2002 The life of the Bwana Mkubwa operation, which was the first significant investment by a private company in Zambia’s mining industry following the election of President Chiluba in 1991, has now been significantly increased through the new Lonshi mine just across the border, 3,5 km into the... 

Electronic coal auction first

4th March 2002 The world’s first electronic coal auction by UK Coal Mining has been completed successfully. 

Gold CEO denied entry into SA

4th March 2002 The British chief executive of gold-miner Durban Roodepoort Deep (DRD) has been prohibited from re-entering South Africa, the company said. 

Demand grows for electronic detonators

By: Terence Creamer     1st March 2002 South Africa’s leading explosives manufacturer, African Explosives Limited (AEL), is optimistic that demand will continue to firm for its electronic detonators, reporting strong growth in Africa for the product as well as increasing interest from the rest of the world. 

JV covers 'entire mining value chain'

1st March 2002 The signing of a memorandum of understanding (MoU) between Miningtek and Hatch Africa, through which the organisations cooperate in joint integrated projects in Africa, has been so successful that the two organisations are now pursuing projects on other continents. 

SA resources firm prepares for more projects

By: Terence Creamer     1st March 2002 In spite of a seriously stretched balance sheet, South African resources company Anglovaal Mining (Avmin) is set to continue its strategy of developing modern, mechanised mines with plans for two new projects progressing well. 

Tanzanian women play increasing role in mining

1st March 2002 Mining may be a demanding physical activity that has historically been a male activity, but a recent World Bank study shows otherwise. 

Anaconda's troubles cause gitters

1st March 2002 Shares in troubled Australian miner Anaconda Nickel plunged 35% to a five month low today as investors fretted about the outback miner’s renewed talks with its financial backers. 

US jeweller continues tanzanite ban

28th February 2002 One of the largest jewellery dealers in the US is, at least temporarily, continuing its boycott of tanzanite despite US government assurances that the gem is not being used to finance terrorist operations. 

Anglo asks for concessions to keep KCM going

28th February 2002 Mining giant Anglo American has approached the Zambian government for concessional funding to keep the Konkola Copper Mines (KCM) operational. 

Ghana's gold company works down hedge

28th February 2002 Ghanaian miner, Ashanti Goldfields, the African gold producer nearly ruined by overselling before gold rallied in 1999, is working down its hedge book and can stay profitable in gold’s current rally up to around $340 an ounce, the company said. 

Brazilian iron-ore to Poland

By: Keith Campbell     28th February 2002 Brazilian mining, logistics and energy group CVRD has signed a letter of intent with Polish steelmakers to supply them with iron ore over 10 years, and to build a new terminal in the port of Gdansk. 

Chinese zinc output forecast to be steady in 2002

27th February 2002 Key Chinese zinc smelters are striving to maintain 2002 output near last year’s levels as they bet on a recovery in prices, smelter officials and analysts said. 

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