R/€ = 17.48 Change: 0.05
R/$ = 14.92 Change: 0.02
Au 1750.56 $/oz Change: -3.73
Pt 987.00 $/oz Change: 3.75

Mining News

Platinum No.2 says it can manage Zim risk

23rd August 2002 World number two platinum producer Impala Platinum Holdings (Implats) reported lower but better than expected year headline earnings a share yesterday and said it saw a good 2003. 

Australian gold miner sells stake in Zimbabwe PGM group

23rd August 2002 AurionGold said it sold the shares to Impala Platinum Holdings at A$1,90 a share. 

Chile wants $300m tax from copper-mine sale

23rd August 2002 The Chilean government said on Wednesday it had sent a bill to Congress to ensure ExxonMobil pays an estimated $300-million in taxes on the sale of its Chilean mining subsidiary. 

Marula platinum project to start next month

By: Martin Zhuwakinyu     23rd August 2002 World number-two platinum producer Impala Platinum’s (Implats’) Marula mine project, on the eastern limb of the Bushveld Complex, will come on stream next month, ramping up to 103 000 ounces of platinum a year in 2005. 

Forum set up to deal with RBCT delays

By: Terence Creamer     23rd August 2002 A multi-stakeholder forum is being set up in an effort to overcome current delays in the proposed expansion of the Richards Bay Coal Terminal (RBCT) in Kwazulu-Natal. 

Oz –UK alliance in Tanzanian PGM prospecting

22nd August 2002 Australian-based Goldstream Mining NL has teamed up with global Platinum Group Metals (PGM), miner Lonmin to explore and potentially develop one of the few recent greenfields PGM discoveries in the world, the Mibango Platinum Project in Tanzania. 

Mining, chemical firms fingered as polluters

22nd August 2002 A report by an environmental activist group has lambasted a global mining giant and a South African petrochemical company for their poor social and environmental practices. 

Gem-miner to award concessions soon

By: Martin Czernowalow     22nd August 2002 State-owned gem miner Alexkor will soon award shallow-water and beach mining concessions, having already compiled a short list of possible operators. 

Industry, State forge common vision on charter

22nd August 2002 South Africa's mining industry said on Wednesday a meeting to forge details of a controversial charter had yielded a "common vision" on boosting black participation in the white-dominated industry. 

Diamond giant signs two-year wage deal

22nd August 2002 Diamond miner De Beers and South Africa's National Union of Mineworkers (NUM) have agreed on a two-year pay settlement, the company and union said in a joint statement on Wednesday. 

Finnish metals group begins stainless buyout

21st August 2002 Finnish metals group Outokumpu on Monday launched a mandatory redemption offer for all shares in stainless steel group AvestaPolarit, with the offer running from August 26 to September 26. 

Mining group in talks to buy drugs from India

21st August 2002 Indian drug maker Cipla is in talks with South African mining giant Anglo American to supply it with generic versions of anti-Aids drugs, top officials of the two companies said on Monday. 

Resource giant sticks to copper cutback plan

21st August 2002 Chile's Escondida copper mine, a unit of BHP Billiton, said on Monday it produced 51 575 tons copper in July, down 23,4% from July 2001. 

Zambia's Konkola to raise production despite exit

21st August 2002 Zambia's troubled Konkola Copper Mines (KCM) will focus on raising production after the exit of parent Anglo American, CEO Robin Mills said on Tuesday. 

State, industry tight lipped on charter talks

By: Martin Czernowalow     21st August 2002 Negotiations around the empowerment charter for South Africa’s mining industry will push on until a positive outcome is reached, the head of communications at the Department of Minerals and Energy (DME) told Mining Weekly Online yesterday. 

Gold bounces as oil prices surge

21st August 2002 COMEX gold regained its footing on Tuesday, rescued from Monday's downdraft by profit taking and market concern about surging oil prices, while players weighed whether the 2002 gold boom was petering out. 

Sexwale has plans to grow gem miner

20th August 2002 South African diamond miner Trans Hex says the appointment of Tokyo Sexwale as chairman signals the beginning of an aggressive expansion phase. 

Leader appointed to SA mineral-sands project

20th August 2002 International mineral sands group Mineral Commodities has appointed a senior executive with extensive experience in the global mineral sands business as CEO to spearhead the development of its world-class Xolobeni Project on South Africa's east coast. 

Eight bidders show interest in State gem miner

By: Martin Czernowalow     20th August 2002 The Department of Public Enterprise (DPE) yesterday revealed that it has received eight bids for non-binding expression of interest in the ailing State diamond-mining company Alexkor. 

New mining law likely to be delayed until 2003

20th August 2002 South Africa's government said on Monday the enactment of a controversial new mining law was likely to be delayed by negotiations on a related money bill to set mining royalties. 

Complex deal ensures giant's withdrawal from Zambia

20th August 2002 The long-awaited agreement between Anglo American and the Zambian government on plans by the mining giant to exit Konkola Copper Mines (KCM) and the country was concluded yesterday. 

Gold sinks as traders go short for first time in months

20th August 2002 COMEX gold skidded on Monday as the dollar firmed and investors, emboldened by the steadier tone on Wall Street, ditched safe-havens and reallocated into U.S. stocks. 

Project to add five years to Namibian gold-mine

By: Joanne Delaurentis     19th August 2002 The life of Navachab, AngloGold's small opencast mine in Namibia, may be extended by five years to 2012, following a feasibility study on a possible pushback in the eastern pit, the company announced at its quarterly results presentation in Johannesburg last month. 

“Don’t compromise on charter targets”

By: Terence Creamer     19th August 2002 The head of the African Minerals and Energy Forum (AMEF) has appealed to government not to compromise on the setting of targets when negotiating the mining empowerment charter this week. 

New gold-council head to add vigour to marketing

19th August 2002 Gold producers and some market analysts will be looking to the new head of the World Gold Council to plug the metal more vigorously as a safe bet in uncertain times. 

Good performance expected from unbundled mining, steel firms

19th August 2002 South Africa's biggest steel and iron ore producers Iscor and Kumba Resources are seen reporting a leap in annual earnings next week, reaping the rewards of their split and despite a firmer rand. 

Aussie laterite nickel miner offers debt deal

19th August 2002 Debt-ridden Australian miner Anaconda Nickel has offered key creditors of its Murrin Murrin Holdings (MMH) unit a discounted debt payment settlement. 

New PGM drill campaign to start soon

19th August 2002 Canadian miner Pacific North West (PFN) Capital announced that a diamond drilling programme will begin within the next couple of days on its Agnew Lake platinum group metals (PGM) property near Sudbury, Ontario. 

Platinum stocks seen under pressure this week

19th August 2002 South African platinum stocks could come under pressure this week, with analysts eyeing a drop in earnings when Impala reports on Thursday, after peer Angloplat posted a hefty fall last week. 

Black company set to buy 100% of ERPM

By: Martin Creamer     16th August 2002 The black-economically-empowered company that owns 30% of the shares of gold company East Rand Proprietary Mine (ERPM) is negotiating to acquire 100% of the company. 

Miners do well in SA sustainability rating

16th August 2002 Mining groups have fared well in the first sustainability rating of the top 40 companies on the Johannesburg bourse, a measure which examines their commitment to the environment and social development. 

Rockslide kills two at Carletonville gold mine

16th August 2002 Two miners died and a third was seriously injured in an underground rockfall at South Africa's Mponeng gold mine, mineowner AngloGold has revealed. 

Minister says everything negotiable in mine charter

16th August 2002 South Africa's Minerals Minister Phumzile Mlambo-Ncguka yesterday said all proposals in a controversial draft new mining charter were up for negotiation when stakeholders meet over the details next week. 

Charter 'lekgotla' set for Tuesday

15th August 2002 Government and the mining industry have agreed to meet on Tuesday next week in a bid to reach consensus on the proposed black empowerment mining charter. 

Chinese aluminium firms plan output rises in 2002

By: Zonika Botha     15th August 2002 China's largest aluminium maker, Aluminium Corp of China (Chalco), and other major producers are bent on raising output this year despite weak prices and oversupply on global markets, company officials have said. 

R22m platinum headgear completed

15th August 2002 A R22-million contract for the construction of a shaft headgear and associated infrastructure for Lonmin’s Western Platinum’s Karee No 4 shaft has been completed by civils company WBHO. 

Tin output rises and cuts by Chinese producers

15th August 2002 China's top tin producer, Yunnan Tin, yesterday said it expects to produce 28 000 tons of the refined metal this year, up from 22 000 tons last year as sluggish prices bottom out. 

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