Asking whether South Africa should nationalise its mining industry was the wrong, dangerous question to ask in searching for the answer to South Africa’s “evil triplets” of poverty, inequality and unemployment, said Mineral Resources Minister Susan Shabangu.

Australian miner Norton Gold expects its top shareholder, China's Zijin Mining , to lift its stake to 19.9%, using Norton to expand offshore, Norton's chief executive said. Zijin, China's top gold producer, last week agreed to invest $30-million in the company.

Diamond producer Gem Diamonds has awarded a R67-million contract to Redpath South Africa for the development of a sand tunnel at the recommissioned Ghaghoo diamond mine, in Botswana.

South Africa-focused Platinum Australia increased production at its production by more than 700 oz in the June quarter, despite ongoing difficulties at its Smokey Hills mine.

China’s Wing Hing said on Thursday that it planned to buy up to 87% of South African gold company Taung Gold for $580-million to take advantage of the surging gold price. Gold continued to hit record highs above $1 620/oz this week as concerns over the prospect of a US debt default grew, prompting investors to buy the precious metals as a haven from risk.

ASX-listed Cougar Energy on Thursday said that it would seek a review of the Queensland government’s decision to restrict the company’s activities at the Kingaroy underground coal gasification trial site.

PERTH (miningweekly.com) Gold miner St Barbara has reported a 19% increase in gold production for the quarter ended June, compared with the previous three months. Gold production rose to 72 860 oz in the three months, and totalled 258 474 oz for the 12

Junior Universal Coal, which is listed in Australia, has taken a up a 40% stake in the Berenice project in South Africa’s Limpopo, after completing the first phase of drilling at the coking coal project.

Brazilian iron-ore mining company Ferrous Resources has been awarded the preliminary licence (PL) for its 400 km slurry pipeline.

Risk management and insurance broking firm Aon South Africa principal broker Russell Davis warns mining companies that, although the threat of acid mine drainage (AMD) has quietened down, it still has not gone away and the implications of this threat could have a significant impact on the responsible companies’ coffers.

Caterpillar, which bought mining equipment manufacturer Bucyrus last year, expects the global capital equipment market to remain strong, with further growth expected in the long term, outgoing GM for Southern Africa Fernando Armas told Mining Weekly Online.

Gold is sidelining platinum and palladium and could hit $1 800/oz by Christmas, says UBS bullion bank precious metals strategist Dr Edel Tully, who describes the present as “an extremely exciting time” to be in precious metals. Tully expects gold to be in deficit in 2011 as a result of only moderate mine-supply growth, a lower level of recycling than in 2009 and the steady buying of gold by central banks.