R/€ = 16.18 Change: -0.07
R/$ = 14.24 Change: -0.06
Au 1241.78 $/oz Change: -4.11
Pt 795.89 $/oz Change: -8.00

Mining News

Zambia utility gets funds for Kansanshi power line

6th October 2003 Zambian power utility Zesco at the weekend obtained financing to build an electricity transmission line to the new Kansanshi copper and gold mine in northwestern Zambia. 

Northam, NUM conclude wage deal

6th October 2003 The management of Northam Platinum announced on Friday that the 2003 negotiations on wages and conditions of employment have been concluded and that agreement has been reached between the company and the National Union of Mineworkers. 

Gold nosedives after upbeat US jobs data

6th October 2003 Gold tumbled 3,5% in New York on Friday as the first rise in US payrolls in eight months lifted anxiety about economic growth and undermined the safe-haven case for bullion days after it had hit seven-year highs. 

Search for Hope Downs partner to start this month

By: Martin Czernowalow     3rd October 2003 South African iron-ore giant Kumba Resources this week confirmed that it is in the final stages of drawing up an information memorandum calling for offers for part of the Hope Downs project in Western Australia. 

Explorer progresses Newfoundland campaign

3rd October 2003 Canadian explorer Candente Resource Corporation reports that it has expanded the extent of gold mineralisation on the Staghorn property in Newfoundland, Canada, from one to three kilometres. 

Atlas Copco acquires two SA drilling-equipment firms

3rd October 2003 After approval from the regulatory authorities, Swedish exploration drilling equipment company Atlas Copco yesterday announced that its South African operations had acquired the businesses of two local companies. 

Avgold board mulls Free State mine options

By: Terence Creamer     3rd October 2003 Gold miner Avgold is expected to announce details of its preferred option for exploiting the large gold resource to the north of its Target mine in the Free State at its September quarterly results presentation later this month. 

Gold Fields increases mineral resources

3rd October 2003 South African gold miner Gold Fields announced yesterday increases in both its mineral resources and reserves for fiscal year ending June 30, 2003. Attributable resources have increased from 186 to 195,3-million ounces, including the Arctic Platinum Project in Finland. 

Great Basin advanced Burnstone drill programme

3rd October 2003 Canadian miner Great Basin Gold said ongoing, multirig drilling at the Burnstone gold property, in the Witwatersrand goldfield of South Africa, continues to define and expand gold-bearing areas of the Kimberley Reef, one of the main mineralised horizons. 

Brazil becomes big user of SA furnace controller

3rd October 2003 State minerals and metallurgical science council Mintek has commissioned a second Minstral furnace-control system at the Camargo Corr 

Platinum, palladium surplus seen in 2003

2nd October 2003 Platinum supply has been growing faster than rising demand and is therefore projected to shift into a surplus in 2003 that could be as large as 199 000 oz, precious metals research group CPM Group said Tuesday. 

Vessel resumes marine diamond mining

2nd October 2003 Canadian diamond miner Diamond Fields International (DFI) said yesterday that the contract mining vessel MV Anya has resumed production in DFI's Marshall Fork marine diamond deposit in Luderitz Bay, Namibia. 

Commissioning phase begins at expanded gem mine

2nd October 2003 Canadian diamond miners Etruscan Resources and Mountain Lake Resources jointly announced yesterday the completion of construction of the expanded plant at the Tirisano Diamond mine, near Ventersdorp, in South Africa. 

2 700 jobs to go at DRD

By: Martin Czernowalow     2nd October 2003 South African marginal gold-miner Durban Roodepoort Deep (DRD) said yesterday that discussions with the National Union of Mineworkers (NUM) on possible outsourcing of shafts at its troubled North West Operations (NWO) had been ‘constructive’, but would not stop the retrenchment of... 

Motsepe takes over as Harmony chair

2nd October 2003 Newly-merged South African gold miner Harmony Gold said yesterday prominent black businessman Patrice Motsepe had taken the helm as non-executive chairperson. 

Canico eyes $500m cost to build nickel mine

1st October 2003 Canadian mining junior Canico Resource Corporation, which owns one of the world's prized nickel deposits, said on Monday it expects to sink $500-million to $600-million into building a mine and plant at the site in Brazil. 

Kenya awards titanium mining lease

1st October 2003 Canadian mining company Tiomin Resources announced this week that Kenya's Commissioner of Mines had awarded the long-awaited special mining lease for the Kwale titanium-bearing mineral sands project, located 50 km south of Mombasa. 

Higher wages to knock gold earnings for September quarter

By: Martin Czernowalow     1st October 2003 Gold industry observers are expecting South African mining companies to once again report low earnings for the last quarter, which ended yesterday. 

Prospectors call for securities-regulations consolidation

1st October 2003 In a submission to the Canada's mines ministers, the Prospectors and Developers Association of Canada (PDAC) has called for a single set of securities regulations that could be consistently applied across the by one securities regulator. 

Mining careers convention to be held in Witbank

1st October 2003 International resources group Xstrata will host a careers convention in Witbank on October 9, 2003. 

Canadian miner begins trading on AIM

1st October 2003 North American gold miner Bema Gold announced yesterday that its common shares have been approved for trading on the Alternative Investment Market (AIM). 

German firm acquires continuous miner range

1st October 2003 The German equipment supplier DBT, which is intensely active in South Africa, has signed an asset purchase agreement to acquire the Dash continuous miner product line from the Sandvik subsidiary, Eimco. 

Oz miner secures off-take deal with Chinese copper firm

30th September 2003 Australian-listed Universal Resources has positioned itself as a future supplier of copper concentrate to the fast-growing Chinese market, announcing a landmark subscription and off-take option agreement with Yunnan Copper Industry, China’s largest copper smelting company. 

Jewellery designer shares expertise at workshop

30th September 2003 The winner of the Plat Africa Jewellery Design Competition 2003, Fred Tucek, ran a free workshop in Atteridgeville, Pretoria, at the weekend. 

Gold-miners agree to steel probe extension

By: Terence Creamer     30th September 2003 South Africa’s Competition Commission has requested, and received, a time extension for its investigation into the steel pricing policy of Iscor. 

Angola says it won in arbitration with De Beers

30th September 2003 Angola's state diamond company Endiama yesterday said it had won a victory over De Beers in arbitration of a row that has helped keep the South Africa-based diamond giant's Angolan operations suspended since May 2001. 

Ukraine alumina producer to up bauxite imports

30th September 2003 Ukraine's major alumina producer, Mykolayivsky Hlynozemny Zavod (MHZ), will increase imports of bauxite from Guinea to three million tons in 2005 from 2,1-million in 2003, Interfax-Ukraine news agency said yesterday. 

DRD, NUM in last-ditch effort to save jobs

By: Martin Czernowalow     30th September 2003 South African marginal gold-miner Durban Roodepoort Deep (DRD) is set to meet with the National Union of Mineworkers (NUM) tomorrow for further discussions about the possibility of outsourcing some of the shafts at the company’s North West Operations. 

Mineral processing congress officially opened

30th September 2003 Over 600 international and local delegates met in Cape Town yesterday to participate in the week-long 22nd International Mineral Processing Congress that is taking place at the Cape Town International Convention Centre. 

Gilbertson calls for BEE flagship

By: Jill Stanford     30th September 2003 In his plenary lecture at the 22nd International Mineral Processing Congress being held in Cape Town former BHP Billiton CEO Brian Gilbertson suggested that an appropriate foundation for a flagship that will stand as a model for BEE in the mining industry might have emerged over the past two weeks. 

World's deepest single-lift mine ever

By: elizabeth rebelo     29th September 2003 The world’s deepest single-lift mine, at which gold-mining will begin next week, will transport miners three kilometres below ground in a single uninterrupted journey, Mining Weekly can today exclusively report. 

AngloGold, Randgold bids for Ashanti

29th September 2003 Based on last Thursday afternoon’s share prices, Randgold's bid for Ashanti was worth 16,8% more than AngloGold's bid – AngloGold’s bid value: $1,41-billion; Randgold’s bid value: $1,65-billion. 

Good gold-copper grades reported at Alaska project

29th September 2003 Canadian miner Northern Dynasty Minerals has announced that drilling within the Pebble gold-copper-molybdenum deposit continues to outline substantial volumes of higher-grade mineralisation. 

Anglo American launches 300m sterling bond

29th September 2003 Mining giant Anglo American launched a larger-than-expected 300-million sterling ($497,9-million) seven-year bond on Friday, lead managers for the deal said. 

Investors warm to Randgold bid for Ashanti

29th September 2003 Investors are taking more seriously an audacious bid by mid-tier miner Randgold Resources for gold producer Ashanti Goldfields after it formalised its offer this week. 

Canada premier confident De Beers will keep pledge

29th September 2003 The premier of Canada's Northwest Territories said last week he was confident De Beers will honour its diamond supply promises, striking a positive note in a relationship that has taken strain in the past two weeks. 

Gold Field in R2,5bn capex despite SA project deferrals

By: Terence Creamer     26th September 2003 Despite deferring some South African capital projects, Gold Fields is still pursuing a R2,5-billion capital expenditure programme during the current financial year. 

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