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Mining News

Iscor dismayed by monopoly-pricing allegations

By: Terence Creamer     7th August 2002 South Africa’s largest steel producer Iscor has reacted with dismay to allegations that it was acting in an anti-competitive manner by raising its prices, saying that such claims were misinformed. 

Mining group takes big step in Aids fight

By: Zonika Botha     7th August 2002 In what is regarded as a momentous step towards fighting the rampant Aids pandemic, mining giant Anglo American yesterday announced its plans to make anti-retroviral therapy (ART) available to those HIV-infected employees across its operating companies, who do not have access to an ART benefit... 

Strong performance from gold explorer

     7th August 2002 London and Nasdaq-listed gold producer, Randgold Resources, has sustained its strong performance with a 51% improvement in net profit for the June quarter, while its half-year operating profit from mining increased by 38% year-on-year. 

DRC copper mine to produce 730 000 t copper ore

     7th August 2002 Canada's First Quantum Minerals said its Lonshi mine in the Democratic Republic of Congo would produce 730 000 tons of ore grading 5,43% copper in the fiscal year ending November 2002. 

Ghana gold group's results buoyed by gold price

     7th August 2002 African gold miner Ashanti Goldfields yesterday reported a 33% rise in second-quarter earnings, with higher gold prices and a shrinking interest bill outweighing a fall in production. 

Mali tightens controls on mining companies

     7th August 2002 Mali, Africa's third biggest gold producer and host to nearly 100 mining companies, has set up a commission to tighten controls on firms operating in the sector, officials at the Mines Ministry have said. 

State, mining group to meet next week

     7th August 2002 Diversified miner Anglo American and its diamond arm De Beers will meet South African ministers on August 14 to discuss government plans to give black business a bigger role in mining, a government spokesperson said yesterday. 

Southern Africa ready for diamond certfication

     6th August 2002 Southern African countries producing diamonds are ready for the implementation of an international certification scheme designed to halt trade in 'conflict diamonds', their mining ministers have declared. 

SA mining changes increase risk – Newmont

     6th August 2002 US-based gold producer Newmont Mining yesterday said concerns that South Africa could soon nationalise some of its gold mines made the country a high risk for explorers. 

Mining and sustainability report available soon

     6th August 2002 The report of the Mining Minerals and Sustainable Development (MMSD) project – Breaking New Ground – will be made available next week. 

Ncholo quits ERPM gold mine

By: Martin Creamer     6th August 2002 Khumo Bathong chairperson Dr Paseka Ncholo has quit as chairperson and director of the 109-year-old East Rand Proprietary Mine (ERPM) in Boksburg. 

Organic growth to lift gold firm’s output 16%

By: Terence Creamer     6th August 2002 South African gold company Harmony – which has a reputation for acquiring and turning around mining assets – is now in a strong organic growth phase with several capital projects under way and a number of others under consideration. 

SA heavy-mineral producer wins safety award

     6th August 2002 The Zululand-based heavy mineral producer and a member of the global Rio Tinto mining group, Richards Bay Minerals (RBM), has been awarded the group's inaugural Rio Tinto chief executive safety award. 

Gold miner to take steel firm to competition body

By: Terence Creamer     6th August 2002 Gold miner Harmony has confirmed that it plans to lodged an official complaint with the Competition Commission against what it viewed as anti-competitive behaviour by leading South African steel company Iscor. 

New face of mining engineering

By: Deborah Spicer     5th August 2002 The profession of mining engineering, which has long been regarded as the preserve of white males, is about to admit the first black woman to graduate from the School of Mining Engineering at the University of the Witwatersrand. 

Russian gold output rises

     5th August 2002 Russia produced 56,9 tons of gold in the first half of this year, up from 44,3 tons in the same period of 2001, Valery Braiko, chairperson of the Gold Industrialists Union, has said. 

Long-term iron-ore supply contract deal

     5th August 2002 Another major milestone in Robe River Iron Associates' West Angelas project has been reached, with the conclusion of five-year full-scale contracts for West Angelas marra mamba iron ore with six Japanese steel mills. 

Bulk sampling under way at West Coast gem project

     5th August 2002 Following the successful commissioning of its recently acquired 30-ton per hour Heavy Media Separation (HMS) plant, diamond miner Namakwa started bulk sampling excavation in April and processing operations at its diamond project on the South African West Coast in May. 

Higher Aussie gold bid unlikely – bidder

     5th August 2002 Canada's Placer Dome has said it was unlikely that its revised offer for Australia's AurionGold would be bettered by a competing bidder. 

Banner year for SA gold firm

By: Keith Campbell     2nd August 2002 South African mining group Gold Fields Limited’s CEO Ian Cockerill has welcomed the government’s announcement that the draft Black empowerment charter for the mining industry did not represent the position of the government and was only a discussion document. 

Finland platinum-resource estimate raised

     2nd August 2002 Finnish Outokumpu and South African Gold Fields yesterday raised their estimate of a platinum group element (PGE) resource in Northern Finland to 14,4-million ounces from an earlier 11,3 million. 

Nickel to trade in $5 000/t-$8 800/t band in 2003 – report

     2nd August 2002 Nickel prices are likely to remain in a range of $5 000 to $8 800 a ton through the end of next year, underpinned by strong stainless steel demand from China in particular, Roskill Information Services said yesterday. 

Study into new Zambia copper mine under way

     2nd August 2002 Canadian miner First Quantum’s feasibility study into its 80%-owned Kansanshi copper deposit in Zambia is scheduled for completion in the fourth quarter of this year. 

Konkola lifts copper output

     2nd August 2002 Zambia's troubled Konkola Copper Mines (KCM) produced 110 000 tons of finished copper in the first half of the year compared to 90 500 tons in the same period last year, a company spokesperson said yesterday. 

Investment group ups gold sector to weighting

     1st August 2002 Investment group Goldman Sachs has raised its rating on the gold sector to a "market overweight" from "market weight," and raised its gold price forecast. 

Godsell calls for Codesa-approach to charter

By: Terence Creamer     1st August 2002 The head of South Africa’s largest gold producer, AngloGold, has called for a Codesa-like approach to talks on the South African government’s proposed charter on black empowerment in the mining sector. 

World iron-ore output falls

     1st August 2002 A newly-released iron-ore market study for 2001 to 2003 – produced under a co-operative agreement between the UNCTAD Iron Ore Trust Fund and Raw Materials Group – has found that total world production of iron ore in 2001 was 931-million tons (Mt), a decrease of 3,1% over 2000, when... 

Resources giant likely to gain coal-price rise

     1st August 2002 Resources group BHP Billiton has won around a 12% rise in hard coking coal prices to Japan following long-running negotiations, an industry analyst said yesterday. 

Aussie nickel firm still in talks on debt deal

     1st August 2002 Debt-ridden outback miner Anaconda Nickel yesterday said it was still in talks on a debt restructuring, although any deal would be complex and could be some time away. 

Winder commissioned at Evander shaft

     1st August 2002 South Africa's third-largest gold producer Harmony Gold has confirmed that production at its Evander number eight shaft, damaged in an accident on July 12, would be back to its planned quarterly target of 40 000 ounces, eight weeks earlier than expected. 

Gold miner to procure 90% of timber from black group

     1st August 2002 Gold producer Harmony yesterday announced that Izingodo Holdings – a black controlled consortium that has acquired a significant stake in Timrite – will in future supply 90% of the company’s timber requirements. 

R631m PGM project on track for completion this year

     1st August 2002 All major civil structures are nearing completion and infrastructure development is well under way at Aquarius Platinum’s new R631-million Marikana platinum project in South Africa, which is scheduled for completion before the end of the year. 

St Helena in R120m transfer deal

By: Keith Campbell     31st July 2002 The Freegold joint venture (JV) between African Rainbow Minerals Gold (ARMGold) and Harmony Gold has bought the St Helena mine from Gold Fields for R120-million. 

States initiates Charter talks

     31st July 2002 The South African government, mining industry and unions yesterday said that a draft of a controversial mining charter that battered mining shares last week and on Monday was not official policy. 

Commodity prices to hit resources group's profits

     31st July 2002 Weak commodity prices are likely to have eaten into the profits of the world's largest diversified miner BHP Billiton when it reports its annual results on August 7, analysts have predicted. 

Oppenheimer sees good first half for diamonds

     31st July 2002 Diamond giant De Beers' chairperson, Nicky Oppenheimer, yesterday said the company – which is 45% owned by Anglo American – had had a "good" first half and was working to bring more black people on board at De Beers and in the wider industry. 

Argentina's energy group sells mine stake to SA gold leader

     31st July 2002 South Africa's number one gold miner, AngloGold, yesterday said its purchase of 46,25% of the Cerro Vanguardia SA (CVSA) mine in Argentina would immediately enhance earnings and cash flow. 

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