South Africa mines minister says nationalisation wrong, dangerous question to ask

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.

mining weekly | August 2, 2011 | 3:03 pm

Australia’s Norton Gold sees China’s Zijin increasing stake

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.

mining weekly | August 1, 2011 | 1:26 pm

SA firm Redpath clinches R67m contract to build sand tunnel at Botswana’s Ghaghoo diamond mine

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.

mining weekly | July 31, 2011 | 11:30 pm

Platinum Australia lifts output despite difficulties at Smokey Hills

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.

mining weekly | July 29, 2011 | 9:15 am

China’s Wing Hing to buy SA gold assets in $580m deal

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.

mining weekly | July 28, 2011 | 8:30 pm

Cougar seeks review of Kingaroy ban

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.

mining weekly | July 28, 2011 | 9:45 am

Universal says Limpopo coking coal project has 1Bt resource

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.

mining weekly | July 28, 2011 | 9:28 am

St Barbara says new underground mine to boost output

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

mining weekly | July 28, 2011 | 9:28 am

Company secures significant slurry pipeline licence

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

mining weekly | July 27, 2011 | 11:18 pm

Acid mine drainage has ‘quietened down’ but still poses a threat to companies’ coffers, says risk manager

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.

mining weekly | July 27, 2011 | 11:16 pm

Capital equipment market remains strong − Caterpillar

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.

mining weekly | July 27, 2011 | 11:14 pm

Gold sidelining platinum/palladium, may hit $1 800/oz by Christmas – UBS

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.

mining weekly | July 27, 2011 | 12:27 pm

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