R/€ = 15.63 Change: -0.03
R/$ = 13.72 Change: -0.03
Au 1291.76 $/oz Change: 1.47
Pt 809.40 $/oz Change: 7.25

Mining News

Nigeria completes aluminium smelter equity restructure

3rd April 2003 Nigeria said yesterday that shareholders of its mothballed aluminium smelter ALSCON have agreed on a new equity structure for the company, paving the way for its planned sale in May. 

Gold recoils as US forces near Baghdad

3rd April 2003 COMEX gold shed almost 1,5% yesterday as US forces rumbled to the outskirts of Baghdad, reviving financial market hopes for a short war in Iraq and reducing the desire to hold gold as risk insurance. 

Gold Fields to provide workers with HIV/Aids treatment

2nd April 2003 South Africa's second biggest gold producer, Gold South Africa's second largest gold producer, Gold Fields Limited, has announced that it intends to extend its existing wellness management programme to include antiretroviral therapy as a treatment option for all employees living with Acquired... 

Exploration focus to continue at Randgold Resources

2nd April 2003 Gold explorer, Randgold Resources, claims it is ready to invest substantially and on a sustained basis in exploration and new business development. 

Gold production resumes at ERPM

By: Martin Czernowalow     2nd April 2003 Gold production has resumed at East Rand Proprietary Mines (ERPM), on Gauteng’s East Rand, the mine’s operations director tells Mining Weekly Online. 

Gencor unveils unbundling plans

2nd April 2003 South African holding company Gencor yesterday set May 23 as the long-awaited date for the distribution to shareholders of its last major asset – its $1,6-billion stake in Impala Platinum Holding. 

China aluminium smelters to close old lines – report

2nd April 2003 Eight major Chinese aluminium smelters plan to close older production lines with combined capacity of 450 000 t/y by the end of 2005, the official Xinhua news agency said yesterday. 

Work on Ghana gold prospect advances

2nd April 2003 Canadian miner PMI Ventures has announced completion of a preliminary work programme on its Ashanti II Deep Gold Project in Ghana, West Africa. 

Four miners die in rockburst

2nd April 2003 South Africa’s AngloGold said four miners were killed and one is missing at the company's TauTona mine, near Carletonville, following a rockburst, which was caused by a seismic event yesterday morning. 

Anglo puts its weight behind junior mining fund

By: Martin Czernowalow     1st April 2003 In a bid to promote empowerment within the junior mining sector in South Africa, resources giant Anglo American and Khula Enterprise Finance announced the formation of the Anglo Khula Mining Fund yesterday. 

Gold’s first PPP launched in Free State

By: Martin Creamer     1st April 2003 Gold’s first public-private partnership (PPP) got off the ground on Sunday when Minerals and Energy Minister Phumzile Mlambo-Ngcuka launched the precious metal further downstream in the Free State, Mining Weekly Online can today report. 

Coal-seam fires pose health risk

1st April 2003 Coal-seam fires that can burn underground for centuries pose a major threat to the environment and human health, experts say. 

Implats, Aquarius end refining row

1st April 2003 The world second-largest platinum producer, Impala Platinum (Implats), and Aquarius Platinum said yesterday they had resolved a dispute and that supplies of concentrate from Aquarius' Kroondal mine in South Africa to Implats had resumed. 

Australia coal projects face China, Russia threat

1st April 2003 Australian coal producers risk over-investing in expansion plans that will be undermined by rising exports from China and Russia, a consultants’ report released recently warned. 

DRD sues former finance officer

1st April 2003 Gold mining company Durban Roodepoort Deep (DRD) has instituted legal action against its former chief financial officer, Charles Mostert, in an effort to recover money he allegedly misappropriated, the company said yesterday. 

Platinum group, State to debate royalty bill

1st April 2003 The world's second-largest platinum miner, Impala Platinum Holdings, said it would meet officials of the South African National Treasury today to discuss its concern with a new minerals royalty bill. 

Gencor sets May 23 for Implats unbundling

1st April 2003 South African mining holding company Gencor said today it would distribute its stake in Impala Platinum Holdings on May 23. 

Poor standard of Alexkor bids causes delay

By: Martin Czernowalow     31st March 2003 The four companies that tendered for a 51% stake in State-owned gem-miner Alexkor have been requested to resubmit addenda to their bids, pushing back the finalisation date of the mine’s restructuring to June 6. 

Engineering-solutions company sees results from project-finance strategy

By: Martin Zhuwakinyu     31st March 2003 Engineering-solutions company Bateman BV reports that its project pipeline has expanded toinclude “more exciting andbigger opportunities” since evolving its strategy towards the end of 2001 to include the facilitation of finance for the projects it undertakes. 

Auto firms less palladium averse after price plunge

31st March 2003 Car companies are fiddling with the ratios of precious metals used in auto antipollution systems after the price of palladium plunged this week, balking at paying sky-high prices for platinum when the two are almost interchangeable in many vehicles, industry sources said. 

Swiss firm confirms winning copper bid

31st March 2003 Switzerland's J and W Investments Group has confirmed its winning bid for the Roan Antelope Mining Corporation of Zambia (Ramcoz), J and W's president said on Friday. 

Implats striking miners back at work

31st March 2003 Miners at the world's second-largest platinum producer, South Africa's Impala Platinum (Implats), returned to work today after a fortnight-long strike, the company said. 

Push on to change SA's gold-ownership rules

By: Martin Czernowalow     28th March 2003 Whereas South Africa may be the biggest producer of gold in the world, its citizens are by law prohibited from owning minted gold bars, thanks to outdated regulations that industry experts would like to see changed. 

RUC secures Modikwa contract

28th March 2003 A wholly-owned subsidiary of Murray & Roberts Limited, RUC, has secured a platinum development and sinking contract at the Anglo Platinum/African Rainbow Minerals Modikwa Mine. 

JP Morgan ups long-term platinum price to $540/oz

28th March 2003 Platinum prices are expected to remain strong due to slower than expected supply growth from the world's biggest producer Angloplat, and to robust demand, JP Morgan said in report. 

Another gold beneficiation offset in offing

28th March 2003 Aerospace company BAE Systems-Saab together with its partners, Harmony and Mintek, will launch another national industrial participation (NIP) project on Sunday, in the Free State Gold Fields. 

Palabora seeks to add $90m financing

28th March 2003 Copper group Palabora Mining Company said yesterday it was looking for about $90-million in financing as a result of rand strength and production delays and said those factors would also hurt its earnings. 

Implats likely to lose 24 000 oz due to strike

28th March 2003 A strike over death benefits by miners at South Africa's Impala Platinum (Implats) entered its eighth day yesterday, and the world's number two platinum miner said it would be hard to make up lost output. 

Explorer calls for new gold-prospecting push

28th March 2003 The consolidation of the global gold mining industry has masked its stagnation over the past five years and it now urgently needs to make new discoveries, says Dr Mark Bristow, CE of Randgold Resources. 

Kenmare wins enviro licence for Moma

28th March 2003 Natural resources exploration and mining group, Kenmare Resources, has announced that it has been granted an environmental licence for the Moma Titanium Mineral Sands Project, in Mozambique, the last major environmental requirement to proceed to the mine's construction phase. 

Davison expresses concern about Royalty Bill

28th March 2003 The head of the world's largest platinum producer, Anglo American Platinum, said yesterday South Africa's proposal to introduce a 4% royalty on platinum mining firms' sales seemed high. 

Mine strike enters ninth day, but work could resume soon

28th March 2003 An illegal strike by miners at the world's second-largest platinum producer, Impala Platinum (Implats), entered its ninth day today, but the main miners union said work could restart soon. 

IDC to have its say in Anglo-Kumba hearing

By: Martin Czernowalow     28th March 2003 After more than a month’s deliberation, the Competition Appeal Court ruled earlier today that the Industrial Development Corporation (IDC) would be permitted to intervene in the Competition Tribunal hearing into Anglo American’s acquisition of iron-ore interests. 

Implats strike to cost R139m

28th March 2003 Progress has been made to resolve the nine-and-a-half day Impala Platinum (Implats) illegal strike, in which some 18 000 of its 28 000 employees have been involved, but the cost to attributable income has been calculated at R139-million. 

Sallies reports drop in earnings, turnaround strategy

27th March 2003 Fluorspar miner Sallies yesterday reported a sharp deterioration in its operational and financial results for the six months to December. 

Mining explosives group buys electro-detonator firm

27th March 2003 South African firm Bulk Mining Explosives (BME), the leading supplier of explosives to the local open cast mining and quarrying industry, has acquired the assets and technology vested in international mining and explosives engineering company, Delta Caps International (DCI), for R15-million plus... 

‘Icarus’ palladium crashes to new lows

27th March 2003 Palladium prices, which have lost 50% of their value over the last year, will remain depressed for some time to come, hit by oversupply and low demand from car manufacturers, analysts said yesterday. 

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