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MINE DEATHS DROP

Union demands release of SA Presidential mine safety audit

Wednesday , 31 Dec 2008
Solidarity trade union says the findings of the SA presidential mine safety audit is important to attain international safety standards. It is planning legal action to force its release.

GO AHEAD DECISION JANUARY

Zambian copper miner's big uranium project approved

Tuesday , 30 Dec 2008
Zambia's newest major copper miner, Lumwana, says it has received permission to go ahead with its $200 million uranium project at its copper mining operation, but won't take a final decision to proceed until next month.

VALID CLAIM

Rio seeks clarification on Simandou iron ore project with new Guinea government

Monday , 29 Dec 2008
Rio Tinto is seeking a meeting with the new military junta in Guinea to discuss its $6 billion Simandou iron ore project over which had been locked in a dispute with the previous government.

HUGE POTENTIAL

Guinea coup brings new uncertainty to the country's mining sector. Gold mining suspended

Sunday , 28 Dec 2008
Guinea's new leader, following a virtually bloodless military coup, has promised to review all the country's mining and metals development agreements and temporarily shut down the gold mining industry.

SMOKE SEEN

Fault shuts down Zambia's largest copper smelter

Friday , 26 Dec 2008
Zambia's Nchanga copper smelter has been shut down since Wednesday while engineers attempt to identify and rectify a technical fault

6.5% STAKE IN MERREX GOLD

Iamgold takes 6.5 percent stake in Merrex Gold

Tuesday , 23 Dec 2008
Iamgold Corp has agreed to take 6.5 percent stake in Merrex Gold towards earing a 50 percent interest in Merrex's Siribaya gold project in Mali

BIGGEST INVESTMENT IN COUNTRY'S HISTORY

Chinese firm to make $2.6bn investment in Liberian iron ore mining

Tuesday , 23 Dec 2008
China Union intends to spend US$2.6bn to bring the Bong iron ore deposit to production within two years, and will also recondition the capital's port and build a hydro power plant.

25 PERCENT DROP

Big fuel price cut to aid copper mining companies set in Zambia

Tuesday , 23 Dec 2008
The Zambian Government has cut the price of fuel by 25 percent which should help the country's copper miners which have been suffering from low metal prices and rising costs.

FULL BID THOUGHT UNLIKELY

FQM boosts stake in Equinox, operator of Zambia's biggest open pit copper mine

Monday , 22 Dec 2008
Canadian copper miner First Quantum has increased its stake in Zambia's Lumwana copper mine operator Equinox Minerals to 19.25 percent.

$102M RAISED

Harmony Gold's festive cheer

Monday , 22 Dec 2008
Top rated gold stocks buck the global equities trend, showing almost effortless ease when raising cash from capital markets.

HERE COME THE SIMS

Underground mine locomotive simulator to be developed by ThoroughTec

Sunday , 21 Dec 2008
Mining equipment simulators are now used extensively in operator training without exposing costly equipment to novices. The latest to be develop[ed is an underground locomotive simulator from South Africa's Throroughtec

OPERATIONS CEASED SATURDAY

Zambian Copperbelt mine shuts down on low copper price

Sunday , 21 Dec 2008
One of Zambia's old underground copper mines, Luanshya, has been shut down and will only reopen if copper prices pick up

COMMUNICATIONS CONFUSION?

Kasongo DRC comments on mining contract negotiations denied by cited companies

Sunday , 21 Dec 2008
So far three of the six companies accused by DRC Deputy Mines Minister Victor Kasongo as having ‘walked away' from contract renegotiation talks have denied the accusations.

COLLECTOR ITEMS

Phenomenal demand for gold coins continues

Sunday , 21 Dec 2008
The SA Gold Coin Exchange says demand for gold coins has picked up as investors wish to take charge of their own affairs.

NEED TO CUT COSTS TO AVOID CLOSURES

Zambian Government asked to cut mining taxes, energy prices by foreign miners

Sunday , 21 Dec 2008
Zambian copper miners have asked the government to cut fuel prices and mining taxes introduced this year to help them survive a commodities downturn.

RENEGOTIATIONS COMPLETE BAR SIX

DRC says Freeport, Gold Fields, AngloGold, First Quantum have walked away from contract renegotiations

Saturday , 20 Dec 2008
Democratic Republic of Congo has completed its review of 61 mining contracts, but majors including Freeport-McMoRan (FCX.N) have walked away from renegotiation talks according to a government spokesman.

TROUBLED AREA

$1.4 bn Niger uranium mine gets go ahead despite credit crunch

Saturday , 20 Dec 2008
French nuclear power group Areva is to build a 1 billion euro (US$1.4 billion) uranium mine in Niger. The Imouraren mine, due to begin commercial production of 5,000 tonnes per year in 2010, would make Niger the world's second biggest source of uranium.

CLEAR STRATEGY REQUIRED

Anglo American put on Credit Watch by ratings agency

Friday , 19 Dec 2008
Standard & Poor Ratings Agency has put Anglo American on CreditWatch pending further discussions with its management.

WORST FOR FIVE YEARS

Dubai gold sales down 80 percent in past two weeks as tourists lack cash

Friday , 19 Dec 2008
Gold price strength and the credit crunch hitting tourist spending has cut gold sales in Dubai's souks by as much as 80 percent in recent weeks.

FERROMANGANESE FURNACE CLOSURES

ARM sees Chinese steel demand recovering by March or April

Thursday , 18 Dec 2008
Chief executive of ARM Ferrous Jan Steenkamp says Assmang is adopting a wait and see approach to demand in the steel market, while year-on-year steel demand from China is 20% lower.

SOME CUTS IN LNE WITH FALLING MARKETS

Anglo Coal and Kumba Iron Ore projects still flying

Wednesday , 17 Dec 2008
While Anglo American has tightened the capital expenditure belt by more than 50% across the Group, its coal and Kumba Iron Ore divisions are forging ahead with expansion projects.

DOLLAR INDEX SLIPS

Gold and silver stocks in the limelight

Wednesday , 17 Dec 2008
Precious metals gold and silver bullion move to multi month highs, as dollar slips to multi month lows.

BSG GETS PART OF RIO PROJECT

Steinmetz gets half of Rio's Guinea iron site

Wednesday , 17 Dec 2008
Beny Steinmetz Group said it has obtained the rights to the northern portion of Rio Tinto's huge Simandou iron ore concession in Guinea.

OVER 50% CAPEX CUT

Anglo cuts 2009 capex to $4.5b and possible job cuts

Wednesday , 17 Dec 2008
Anglo American will cut its capital spending by more than half, ranging from platinum in South Africa to iron ore in Brazil and there could be possible job cuts.

COPPER AND COBALT DEVELOPMENT PROJECTS

ARM/Teal stock deal and jv with Vale to bring latter into African copper projects

Wednesday , 17 Dec 2008
ARM is to acquire the outstanding Teal shares it does not own at an acquisition price of C$3 per common share as forms 50:50 jv with Vale to develop Teal's assets.

COULD INCREASE IF DEMAND STRENGTHENS

Angloplats to deliver 300,000 platinum ounces less than expected in '09

Wednesday , 17 Dec 2008
Anglo Platinum will produce less platinum than the market expected in 2009 as its capital expenditure is slashed from $1.3bn to $916m for the year. However, the company will still be able to produce 2.65m ounces annually.

PLUMMETING PRICES

DRC cuts 3 month copper output target 30to 40 percent, 2009 cobalt target 50 percent

Tuesday , 16 Dec 2008
Plunging base metals prices and lack of finance are hitting DRC mining hard, with the majority of Katanga province's metallurgical plants now closed.

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