AFRICA

Gold, silver stronger as tide continues to favour precious metals

Friday , 03 Feb 2012
Silver is showing a higher testosterone level than gold at the moment, refusing to pull back with gold but, leading the on the rise.

Implats Strike Escalates

Thursday , 02 Feb 2012
Impala Platinum's share price took a pounding in trade on Thursday as industrial action took a turn for the worse at its Rustenburg operations.

Amplats to invest R2.6bn in Bokoni Platinum Mine

Thursday , 02 Feb 2012
This capital development programme means the mine can now target 245,000 ounces by 2016, an increase of 100,000 ounces.

Implats dismisses 13,000 Rustenburg miners

Thursday , 02 Feb 2012
The company said on Thursday it had dismissed 13,000 employees at its Rustenburg operations after they were given until Wednesday to return to work or face dismissal.

Great Basin's Burnstone gold mine removing obstacles to productivity growth

Thursday , 02 Feb 2012
Ramping up its new Burnstone gold mine to full production has defined some problems which have led to lower output than planned, but Great Basin Gold's CEO and management reckon these are being overcome.

Gold likely to consolidate in US trade

Thursday , 02 Feb 2012
The trading range of gold and silver is narrowing bringing buyers and sellers to a balanced position as traders wait for a big piece of news.

ANC study rejects mine nationalisation - report

Thursday , 02 Feb 2012
South Africa's Business Day newspaper reported on Thursday that the study commissioned by the country's ruling ANC has rejected calls for mine nationalisation in favour of higher taxes and royalties.

18,000 Implats miners stay away at Rustenburg

Wednesday , 01 Feb 2012
Impala Platinum said on Wednesday some 18,000 miners were now staying away from its Rustenburg operations as they have downed tools in sympathy with those fired for an illegal strike.

Golden Star to restart Ghana gold plant; sees higher output

Wednesday , 01 Feb 2012
The oxide plant at its Bogoso/Prestea gold mine, which stopped operating in 2008 due to lack of oxide ore, is expected to generate up to 70,000 gold ounces this year.

Gold heads upward as investors remain concerned about market health

Wednesday , 01 Feb 2012
Gold fixed at $1,744.00 in London with an upward bias while silver remained steady ahead of the US open

Botswana lifts new coal prospecting permits ban

Wednesday , 01 Feb 2012
Speaking at a coal conference in Gaborone, Botswana President Ian Khama, said the country was lifting the ban on new prospecting licences for coal, coal-bed methane and related minerals.

Ezz Steel's third-quarter net income surges

Tuesday , 31 Jan 2012
The Egyptian firm reported Tuesday that its third-quarter net income surged from a year earlier, when lower prices and soaring costs hammered profit margins.

Aquarius Platinum warns against S.Africa's zero-harm drive

Tuesday , 31 Jan 2012
The platinum major said Tuesday whilst South Africa's drive to cut mining accidents is laudable, it is making the country a difficult place in which to operate as these safety stoppages are damaging to production.

The reasons behind gold's break out

Tuesday , 31 Jan 2012
The knee jerk assumption is to place all the credit on the Fed's doorstep but, Julian Phillips believes there are other factors at play in what is, increasingly, a one way market

Terence Goodlace appointed new Implats CEO

Tuesday , 31 Jan 2012
Terence Goodlace, formerly CEO at copper/cobalt producer Metorex, has been selected to replace outgoing Impala Platinum CEO David Brown, who will step down at the end of June.

Harmony's Evander sale game changer for Wits Gold and Pan African

Monday , 30 Jan 2012
Harmony Gold is to sell its Evander gold mining operations to a JV of Pan African Resources and Wits Gold for .$216m.

Implats' Rustenburg ops remain shut

Monday , 30 Jan 2012
The platinum major's Rustenburg operations in South Africa remain shut after the majority of workers who staged an illegal strike over wages failed to return to work on Monday.

Gold steady as Greek crisis remains unresolved

Monday , 30 Jan 2012
The week starts as has the last two weeks, with reassurances that the Greek crisis will be resolved. The difference is that few are listening to the E.U. leaders; all are waiting for action

Technical analysis - Why silver could have a big 2012

Monday , 30 Jan 2012
There is a well-established trading relationship between gold and silver and looking back to the example of the previous record highs hit in the 1980s makes for an interesting comparison

Two killed at Modikwa Platinum's mine - NUM

Monday , 30 Jan 2012
South Africa's National Union of Mineworkers reported on Saturday that two miners died at Modikwa Platinum's underground mine after a cave-in.

S. Africa chief mine inspector defends safety closures

Friday , 27 Jan 2012
David Msiza, chief inspector of South Africa's mines, has defended the safety-related mine closures after leading platinum miners recently reported losses in production due to these inspections.

Gold market steady to higher as economy-affecting news bleak

Friday , 27 Jan 2012
Markets steadyish so far today but global economic factors still major cause for concern and likely to cement safe haven role and drive prices higher

Output falls at most Anglo American ops in 2011 although big improvement Q4

Thursday , 26 Jan 2012
Better Q4 figures for Anglo American, one of the world's top diversified miners, helped bring the company back on track after some disappointing setbacks during the year.

First Uranium's Q3 gold sales down, cuts FY12 forecast

Thursday , 26 Jan 2012
First Uranium's gold sales in third quarter fell 5% to 38,548 ounces, owing to fatal accidents at its Ezulwini mine in South Africa in the latter half of 2011.

Gold jumps on broad slip of confidence

Thursday , 26 Jan 2012
Gold and silver are expected to have a stronger bias in US trade today after the Fed's announcement yesterday saw gold higher in both Asia and Europe

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