R/€ = 15.09 Change: -0.01
R/$ = 12.34 Change: -0.01
Au 1330.38 $/oz Change: 4.63
Pt 931.00 $/oz Change: 12.16

Mining News

‘Mineral industry critical to SA’s economy growth’

14th November 2003 A panel of experts has told minerals and metallurgical research house Amira International that the mineral industry is critical to the future of South Africa’s economic growth, during the company’s recent annual general meeting, held in Cape Town. 

Canadian explorer advances DRC drill programme

14th November 2003 Canadian explorer First Quantum Minerals announced yesterday that a further nine reverse circulation drill holes were completed at its wholly-owned Lufua prospect, Haut Katanga Province, in the Democratic Republic of Congo (DRC). 

‘R10bn ‘triple-win’ deal to lead to new BEE giant

By: Terence Creamer     14th November 2003 Mining companies Avmin, Harmony and African Rainbow Minerals Investments reached agreement on Wednesday evening on a four-part corporate transaction that will see the creation of the largest black-controlled mineral resources company in South Africa by March next year. 

BHPB will not develop Gag Island nickel deposit

14th November 2003 The world's largest diversified miner, BHP Billiton, said yesterday it has no plans to develop its nickel deposit on the environmentally-sensitive Gag Island in Indonesia. 

New resource management system for gold miner

13th November 2003 GMSI, a business unit of integrated services solutions business the AST Group, has successfully completed several phases in the implementation of a mineral resource inventory system (MRIS) for the AngloGold SA Region Operations. 

Odyssey starts trenching work at Turkish gold project

13th November 2003 Toronto-listed mining company Odyssey Resources said yesterday it has received government permits and trenching is currently underway on the company's Tavsan gold project. 

Tomograph enhances Varsity's minerals-research capabilities

13th November 2003 The mineral research division of the University of Queensland, Australia, which is also known as JKMRC, believes it research capability has been enhanced with recent acquisition of a cone beam tomograph. 

Govt pledges €16bn in support of German coal

13th November 2003 German Chancellor Gerhard Schroeder said this week the government would provide around €16-billion ($18,37-billion) until 2012 to support Germany's coal industry, as it is run down, over the coming decade. 

Chinese firm to build power station at Zambia mine

13th November 2003 Zambia's state power utility Zesco said yesterday it had awarded a Chinese firm the contract to build a power sub-station at the new Kansanshi copper and cobalt mine, which is due to start production in November 2004. 

Gold miners' growth overshadows hedge-book debate

13th November 2003 Hedging, the most talked about topic in North America's gold industry in June, took a back seat in the latest reporting season to the age-old issue of growth. 

Randgold Resources reports lower profits

13th November 2003 Gold miner Randgold Resources, which recently lost a takeover battle for miner Ashanti Goldfields, reported lower third-quarter profits yesterday and said bid costs would be higher than expected. 

Randgold Resources to make Loulo decision soon

By: Martin Czernowalow     13th November 2003 Gold producer Randgold Resources said yesterday it was close to a development decision on its Loulo gold project, in Mali, and was continuing to expand and entrench its presence in the major gold belts of Africa. 

Mixed fortunes for SA’s primary production sectors

13th November 2003 South Africa's two main primary production sectors have had mixed fortunes, with agriculture shrinking and mining recovering somewhat. 

Gold jumps to high of $400/oz

13th November 2003 Gold bolted to a 7-1/2-year high in New York futures trade yesterday as investors diversified out of the dollar and speculators gunned for the psychological $400 an ounce barrier. 

Harmony in Avgold takeover move

13th November 2003 South African gold miner Harmony announced this morning that it had reached in principle agreement regarding the acquisition of Avmin's 42,2% interest in Avgold for R2,8-billion. 

Blackout hits copper mine output in Chile

12th November 2003 Copper production in central Chile suffered from a power blackout that hit most of the country at the weekend, and the extent of the losses was still being evaluated on Monday, mining officials said. 

DFI has right to acquire Madagascar nickel deposit

12th November 2003 Canadian miner Diamond Fields International has negotiated the exclusive right to acquire a 100% interest in the Valozoro nickel deposit located in Madagascar, a deposit with a historically calculated resource of 3,7-million tons, grading 1,75% nickel for 65 000 t contained nickel. 

Tanami to raise funds for exploration and acquisitions

12th November 2003 Australian gold producer Tanami Gold has announced that it has arranged the placement of 24,8-million fully-paid ordinary shares in the company, at 14 cents each, to raise $3,472-million through Austock Brokers. 

De Beers signs MoU with Gemcom

12th November 2003 Canadian mine production management solutions company Gemcom Software International yesterday announced that it has signed a memorandum of understanding (MoU) with South African diamond company the De Beers Group. 

Uasa elected to the World Diamond Council

12th November 2003 The United Association of South Africa (Uasa) announced yesterday that it was appointed as a member of the World Diamond Council (WDC) and is, to date, the only trade union in the world to have achieved this. 

SA gold mines and projects map launched

12th November 2003 Yesterday saw the official launch, in Johannesburg, of the Gold Mines and Projects Map of South Africa, which aims to be educative, informative and a good marketing tool for South African gold. 

Gold miner implements new minerals inventory solution

12th November 2003 A mineral resource inventory system (MRIS) has been rolled-out at the South Africa operations of leading gold producer AngloGold. 

Peace hopes kindle golden dreams for Congo's miners

11th November 2003 Matthieu Mateso spends his day shovelling orange sand from a riverbank behind the abandoned warehouses of Congo's Kilomoto mine, hoping to find gold. 

Jubilee Platinum to raise £800 000

11th November 2003 British junior platinum mining company Jubilee announced yesterday that it has agreed to place four-million new ordinary shares of 0,1p each at 20 pence per share with institutional investors, raising  

Dragon concludes A$17m Outokumpu acquisition

11th November 2003 Australian junior miner Dragon Mining announced yesterday that it has taken a step towards its objective of becoming a growing mid-tier European gold producer, following approval by shareholders of a A$1-million acquisition of the precious metal assets of Finnish-based international mining group... 

Etruscan and Resolute announce Mali JV

11th November 2003 Canadian mining company Etruscan Resources announced yesterday that it has entered into an option and joint venture agreement with Australian miner Resolute, granting it the right to earn up to a 60% interest in Etruscan's interest in the Finkolo gold exploration permit located in Mali. 

Court ruling boosts Hope Downs project

By: Martin Czernowalow     11th November 2003 South Africa’s biggest iron producer and its Australian partner received a major boost last week, when a court ruled that their Hope Downs iron-ore project was entitled to enter into negotiations about third-party access to BHP Billiton’s Pilbara railway line. 

Pace of global dehedging slows in Q3

11th November 2003 Precious metals consultancy Gold Fields Mineral Services (GFMS) said, in its Global Gold Hedge Book Analysis Q3 2003, the pace of global dehedging has slowed in the third quarter of the year. 

Silverado announces Arctic Alaska drill results

11th November 2003 Canada’s Silverado Gold Mines said an easily accessible block of ground, in the Upper Nolan Valley portion of its Nolan Gold Mine in Arctic Alaska, has yielded good drill results with grades ranging from 0,02 to 0,74 ounces of gold per cubic yard of gravel. 

Canadian explorer seeks to raise C$2m

11th November 2003 Canadian mineral exploration company Candente Resource Corporation has announced that, subject to regulatory approval, it has entered into an agreement with Octagon Capital Corporation under which Candente agrees to raise gross proceeds of C$2-million, through a brokered private placement of 1... 

SA miners commit to silicosis eradication

By: Deborah Spicer     10th November 2003 The fact that this may be the last chance for the South African mining industry to steer its own path in solving the problem of silicosis is finally spurring it to tackle issues of prevention, for those workers who are not yet suffering from the disease, and compensation, for those who have the... 

Junior miner reports improved results

10th November 2003 South African junior miner Scharrig reported that its results for the year ended September 30, reflect a continued improvement for the group. 

De Beers announces multi-million rand tourism project

10th November 2003 South African mining giant De Beers has announced a R16,8-million investment in phase one of the Big Hole project, in Kimberley, designed to develop the existing facilities on the perimeter of the Big Hole into a world-standard tourism attraction. 

World’s biggest underground mining trucks for Mopani

10th November 2003 Two of the world’s largest underground mining dump-trucks – the first of the Cat AD55s to be sold in Southern Africa by Barloworld Equipment Mining – are set for delivery to Mopani Copper Mines, in Zambia, for its Mufulira Deeps project near Kitwe. 

Huge construction challenges in platinum boomtown

10th November 2003 Providing homes in the platinum boomtown of Rustenburg requires a massive investment, and the South African construction industry is playing an important role in helping to meet growing housing needs in the area. 

Threat of closure looms at Limpopo gem mine

By: Martin Zhuwakinyu     10th November 2003 The threat of a temporary but potentially lengthy closure loomed large last week over SouthernEra’s 50%-owned Klipspringer diamond-mine, in Limpopo, with a senior executive confirming to Mining Weekly that operations may have to be suspended because of losses induced by the strong rand,... 

Trans Hex prepared to start second Angolan mine

By: Martin Czernowalow     7th November 2003 South African diamond miner Trans Hex is preparing for the start-up of its second alluvial diamond project in Angola, with first production expected towards the end of the year. 

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