R/€ = 16.82 Change: 0.00
R/$ = 14.32 Change: 0.00
Au 1199.53 $/oz Change: -8.69
Pt 829.00 $/oz Change: -7.99

Mining News

Canadian miner buys Aussie mineralisation rights

22nd November 2005 Toronto-based miner Mega Uranium has announced that it has entered into an agreement with Georgetown Mining Ltd. (GML) and O'Rourke Geological Contractors (OGC), two private Australian companies, to acquire 100% of the uranium-molybdenum-fluorite mineralisation contained within GML's properties... 

Australian gold output falls as price rises

22nd November 2005 As the Australian-dollar gold price continues to rise, Australian gold production declined once again in the September quarter Melbourne-based mining consultants, Surbiton Associates said in its latest Australian Gold Quarterly Review. 

All approvals in place for PGM pool-and-share deal

22nd November 2005 Platinum-miner Aquarius Platinum yesterday announced the finalisation of all regulatory approvals for the Marikana Pool & Share Agreement (P&SA2), with Anglo Platinum, which was announced in July this year. 

Dropping gold output slows quarter-on-quarter - Chamber

22nd November 2005 On a year-on-year basis, South African gold production fell by 15,4% to 72,4 t in the third quarter of 2005, however, on a quarter-on-quarter basis the September quarter's gold production was down a more modest 1,3 

SA miner granted chrome exploration rights

22nd November 2005 JSE Alternative Exchange-listed junior miner Chrometco has announced subsidiary Versatex Trading 12 has been granted a right on the farm Vaalboschlaagte 454KS by the Department of Minerals and Energy. 

Tawana signs JV deal with De Beers

22nd November 2005 JSE-listed Australian firm Tawana Resources has indicated that it has finalised a joint venture with De Beers over its Australian operations 

Four-digit platinum could crimp demand

By: Nicola Mawson     22nd November 2005 The platinum price last week touched a 26-year high when it topped off at $994, causing talk that the metal may well breach the magical $1 000/oz. 

Expansionary vision adds flair to R3,8bn De Beers deal

By: Helene Le Roux     21st November 2005 The South African diamond-mining industry stepped up to the challenge of achieving expansionary empowerment with last week's announcement of the sale of 26% of De Beers Consolidated Mines (DBCM) - the largest diamond-mining group in South Africa - to empowerment investors. 

ARM subsidiary moves into feasibility in Zambia

19th November 2005 Toronto Stock Exchange-listed Teal Exploration & Mining Incorporated, in which ARM holds 66,3%, has indicated that it has already started drilling studies on its Zambian and Namibian projects. The firm has released its interim result for the three-month period to end September. 

New siding improves BEE coal miner's growth prospects

By: Liezel Hill     19th November 2005 Black-empowered coal producer Mashala Resources at the weekend hosted a function to showcase the completion a R6,5-million upgrade at its Delta Siding in Ermelo, Mpumalanga. 

Simmers forms new uranium vehicle

18th November 2005 JSE-listed Simmer & Jack Mines yesterday announced that it had obtained board approval to form a new uranium company to investigate the viability of mining uranium deposits at its Buffelsfontein and Hartebeesfontein mines in the North West. 

Oz gold-miners unveil merger plans

18th November 2005 ASX-listed Monarch Resources yesterday announced that it had entered into agreement with Siberia Mining Corporation to merge the two companies, advancing the strategy of both companies to build a substantial gold exploration, resource and production base in Western Australia's Northeastern... 

London firm to divest of coal shareholding

18th November 2005 London-based Cambrian Mining has announced that it will sell its shareholdings in King-Coal Corporation and Maple Coal Company, both unquoted companies, to AIM-listed Coal International. 

Gem production soars following upgrade

18th November 2005 Australia's Kimberley Diamond Company yesterday reported that, following the cyclone upgrade that was completed on the Ellendale 9 East Plant in mid-September, the plant has performed well and has been consistently running at a production rate of around, or over, 300 t/h. 

Gold Fields shuffles management

18th November 2005 Following a recent executive strategic review, Gold Fields has announced some changes to the executive committee and senior management. 

AIM miner acquires US uranium property

18th November 2005 AIM-listed Vane Minerals has announced that its wholly-owned subsidiary, Vane Minerals (US), has acquired the North Wash Uranium Property located along the east flank of the Henry Mountains in Southeastern Utah, US, in the Colorado Plateau Uranium District. 

Canadian miner restarts copper and gold project

18th November 2005 Toronto Stock Exchange Venture board-listed Taseko Mines announces that it has re-initiated work on its Prosperity Copper-Gold Project, located 125 km southwest of the City of Williams Lake in south-central British Columbia. 

De Beers to spend R50m on Big Hole project

18th November 2005 The development of the Big Hole into a world-class tourist facility will see De Beers ploughing a total of R50-million into the Big Hole Project in Kimberley over a three-year period. 

Debate rages over sustainability of gold's assault on $500/oz

By: Nicola Mawson     18th November 2005 The gold price, which yesterday touched a near 18-year high of over $482/oz, appears to be continuing its steady assault on the magical $500/oz level, with bulls still outnumbering bears. 

UK miner gives green light to SA PGM project

18th November 2005 AIM-listed Ridge Mining yesterday announced it would go ahead with its 100%-owned Blue Ridge platinum group metals mine, near Groblersdal, in South Africa, following positive results received from a feasibility study on the project. 

Anglo commits $2,5m to Nepad fund

18th November 2005 Diversified resources group Anglo American yesterday announced a $2,5-million commitment to the creation of the NEPAD Investment Climate Facility (ICF) to promote growth and enhance the potential for business in Africa to contribute to poverty alleviation. 

Gill Marcus appointed Western Areas chairperson

By: Nicola Mawson     18th November 2005 Ex deputy governor of South Africa's Reserve Bank, Professor Gill Marcus, has been appointed executive chairperson of Western Areas and has already prioritised mending fences with Placer Dome, for which gold titan Barrick recently made an offer. 

Sam Jonah forays into uranium

18th November 2005 Uranium miner UraMin, has announced the appointment of Sir Sam Jonah to its board of directors. 

Placer Dome JV moves towards feasibility

17th November 2005 The joint venture between Canadian miner NovaGold and Placer Dome, the Donlin Creek joint venture, is advancing the Donlin Creek gold project towards feasibility and permitting. 

Mining sector agrees on sustainable mining aims

17th November 2005 Leaders of all stakeholder groups in the mining industry will sign a groundbreaking agreement on sustainable development through mining at the Chamber of Mines conference, which was held this week. 

Mining investments can stimulate economic growth - study

17th November 2005 Mining investments can make a significant contribution to economic development in the world's poorest countries. 

SA needs to do more to create mining-friendly atmosphere

By: Nicola Mawson     17th November 2005 The South African government should do more to liberalise the economy and encourage international miners to set up a base here, as well as aiding smaller miners to explore in Africa. 

Field programme completed at Canadian diamond project

16th November 2005 Pele Mountain Resources yesterday announced the completion of an autumn field program at its Alliance diamond project in northwestern Ontario. 

AfriOre relinquishes Mali gold rights, proceeds to SA project

16th November 2005 TSX- and AIM-listed AfriOre said yesterday that it has concluded an agreement to sell its rights in the Banankoro gold project, in Mali, to a private French company, Pacifico, for $1,5-million, payable in cash. 

Chinese miner in JV to develop gold project

16th November 2005 Central China Goldfields (CCG), through its wholly-owned BVI-registered subsidiary Central China Minerals (CCM), has entered into a cooperative-joint-venture contract with the Hubei North East Geological Team (HNEGT) over the Xiang Shui Tan project, in the Luotian County, Hubei Province. 

Warm weather dampens coal junior's sales

16th November 2005 JSE Alternative Exchange-listed Wescoal has indicated that - despite warm weather and a strong rand - profit was up on last year. 

Has gold lost its war chest status?

By: Nicola Mawson     16th November 2005 Trends indicate that international central bank's store of gold could fall further in future as yields received from the yellow metal decline, but is there another argument for investing in gold? 

Platinum to reach new highs on autocat demand - Johnson Matthey

By: Liezel Hill     16th November 2005 While the platinum market will remain in a 'moderate' deficit in 2005, the precious metal's price is expected to continue in its recent strength, with a forecast price range of between $890/oz and $1 030/oz, driven by demand from the automotive sector, chemical and refining firm Johnson Matthey... 

SA firm buys 51% stake in Australian subsidiary

15th November 2005 Australian-based Mineral Commodities has signed an agreement with Ehlobo Heavy Minerals (EHM) that will lead to EHM paying a purchase consideration of R10-million and committing to fund up to R35-million for a 50,5% interest in MRC's South African project-owning company MRC Resources. 

Nickel find in Australia confirmed

15th November 2005 Australian Stock Exchange-listed Jubilee Mines has announced the discovery of significant nickel sulphides at the Sinclair Prospect within the 100% owned Bannockburn Nickel Project, near Leonora in the Eastern Goldfields of Western Australia. 

Consultant appointed for Namibian copper project

15th November 2005 AIM-listed Copper Resources Corporation has appointed Mineral Engineering Technical Services (METS), a Perth-based group of mineral processing consultants, to carry out the metallurgical process review for the Haib Copper Project in Namibia, which is scheduled to be completed within six months. 

Trans Hex remains concerned about legislative amendments

By: Nicola Mawson     15th November 2005 JSE-listed diamond-miner Trans Hex has indicated that it is concerned about the Diamond Amendment Bill's proposed State Diamond Trader as well as the provision for export duty. 

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