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De Beers sales record likely 2006-02-08 06:00:01 De Beers, the world's biggest diamond company, is expected to say sales last year climbed to a record $6.6 billion (R40.3 billion) as an inadequate supply of gems and increasing demand from nations such as China enabled two consecutive price increases. [Full Story...] Alrosa approves raising Kremlin's share 2006-02-06 06:00:01 A plan for the Russian state to take a controlling stake in Alrosa, the world's second-largest diamond producer, had been approved by the company, the RIA-Novosti news agency quoted finance minister Alexei Kudrin as saying on Friday. [Full Story...] Kumba to start study on Botswana coal 2006-02-01 06:00:01 Africa's biggest iron ore producer, Kumba Resources, said yesterday that it had agreed with Magaleng to start a prefeasibility study for the development of the Mmamabula Central Coal Resource in Botswana. [Full Story...] Private funding fuels sxr expansion 2006-01-17 06:00:01 sxr Uranium One, formerly Aflease Gold and Uranium Resources, was pursuing an aggressive expansion programme and an estimated $20 million (R120 million) would be raised for due diligence programmes and acquisitions, Neal Froneman, sxr's chief executive, said yesterday. [Full Story...] Nigeria reports more attacks on Shell plant 2006-01-16 06:00:01 Unidentified gunmen clashed with Nigerian soldiers guarding an oil plant operated by Anglo-Dutch oil giant Shell in the Niger Delta yesterday, a local military commander said. [Full Story...] Diamonds are forever profitable for De Beers 2006-01-11 06:00:01 Atsuko Tamura hopes her husband splurges on a ´1.3 million (R69 360) De Beers flower-shaped Cocktail Fizz diamond ring for their 15th wedding anniversary. [Full Story...] ThyseenKrupp mulls rival's sweetened bid for steelmaker 2005-12-23 14:57:01 German industrial conglomerate ThyssenKrupp has said it will consider an improved offer from rival Arcelor for Canadian steelmaker Dofasco before deciding how to proceed in its acquisition bid. [Full Story...] ASA Metals to triple output to meet Chinese demand 2005-12-12 06:00:01 Ferrochrome producer ASA Metals plans to triple output by 2008 to feed soaring demand from Chinese stainless steel producers. [Full Story...] Rio Tinto greenlights expansion of diamond mine 2005-12-08 14:22:01 The Australian resources giant says a $910 million investment in its Argyle diamond mine will extend its production life for a decade. [Full Story...] Mvelaphanda and De Beers venture starts explorations 2005-12-07 06:00:01 De Beers and Mvelaphanda Resources have started exploring for diamonds on two properties in Mpumalanga. [Full Story...] Australian coal boom cools as price cuts loom 2005-12-06 06:00:01 Billions of dollars worth of coal from Australia, the world's biggest exporter, faced price cuts of up to 25 percent next year as Asian buyers chopped back stunning 2005/06 price rises, industry experts said yesterday. [Full Story...] Almost 700 to lose jobs at historic De Beers mine 2005-11-23 06:00:01 De Beers, the world's biggest diamond firm, said yesterday that 693 workers would lose their jobs when it shut the century-old Kimberley underground mine in South Africa. The company had notified the National Union of Mineworkers (NUM), South Africa's largest labour union, of its intention to start closing the operation, it said. [Full Story...] Restructuring drags gold output down 15.4% 2005-11-22 06:00:01 Gold output in South Africa, the world's largest producer of the precious metal, fell 15.4 percent year on year in the third quarter to 72.4 tons because of restructuring and shaft closures, the Chamber of Mines said yesterday. [Full Story...] Richtersveld fog 'will disguise' mining scars 2005-10-28 06:00:01 The fog that often blankets the Alexkor diamond area should help disguise scars left by decades of mining, according to one of the state's experts in the Richtersveld land claim. [Full Story...] Mining ministers agree to pricing transparency 2005-10-20 15:50:01 Top mining officials from Pacific Rim countries have joined forces to fight price fluctuations in mineral resources through information exchange and technology cooperation. [Full Story...] Limited competition exists in oil sector, says analyst 2005-10-20 06:00:01 Competition had "broken out" in the oil industry since the ending in 2003 of the main supply agreement "but there's not yet as much competition as there could be in the absence of a merger between Sasol and Engen", a US-based competition analyst, David Scheffman, told the competition tribunal yesterday. [Full Story...] Unpacking Anglo's Kumba deal 2005-10-14 06:00:01 Anglo American and Kumba Resources, the iron ore producer controlled by Anglo, announced a complex plan yesterday to split the latter and form South Africa's biggest black-owned company. [Full Story...] Sub-Saharan growth likely to rebound next year - IMF 2005-10-13 06:00:01 After dipping this year, economic growth in sub-Saharan Africa was set to rebound in 2006, thanks to soaring oil prices, sound economic policies and a recovery from severe drought, an International Monetary Fund (IMF) official said yesterday. [Full Story...] Diamond Bill's dangers laid out 2005-10-12 06:00:01 The Diamond Act Amendment Bill might have laudable objectives, but it would lead to a series of negative "unintended consequences" if passed in its present form, parliament was warned yesterday. [Full Story...] Diamond act: small players split 2005-10-11 04:45:01 While diamond giants such as De Beers remain solidly opposed to the Diamond Act Amendment Bill, small and medium-sized players in the industry yesterday expressed decidedly mixed views about it. [Full Story...] Total awaits ruling before deciding on Natref stake 2005-10-11 04:45:01 Oil multinational Total would await the outcome of the competition tribunal's hearing on Uhambo Oil before deciding what to do with its stake in the Natref refinery, Philip Jordan, Total South Africa's chief executive, said yesterday. [Full Story...] EU fund to oil wheels of energy 2005-10-10 06:00:01 After the energy sector suffered years of neglect by international donors, the EU was gearing up to launch a 250 million euro (about R2 billion) facility by next June to help developing countries build up their energy infrastructure, parliamentarians were told on Friday. [Full Story...] De Beers denies reports of deal with Russia's Alrosa 2005-10-10 06:00:01 De Beers, which mines about half of all the diamonds in the world, last week denied reports it had an agreement with Russian state-owned diamond company ZAO Alrosa to explore for diamonds together in Russia and Central Africa. [Full Story...] Ferrochrome prices likely to fall 2005-10-07 06:00:01 Ferrochrome firms in South Africa, the world's biggest producer of the alloy, expected to reduce fourth-quarter contract prices by between 4 percent and 7 percent because of oversupply, industry sources said yesterday. [Full Story...] Mwanawasa sacks minister over oil shortage 2005-10-07 06:00:01 Zambian president Levy Mwanawasa sacked his energy minister and held talks with mining firms yesterday, taking personal charge of solving a fuel shortage that is hitting the mining industry - the country's life-blood. [Full Story...] Nigerian company launches London bid to sell $1bn stake in oil field 2005-10-07 06:00:01 South Atlantic Petroleum, owned by former Nigerian defence minister Theophilus Danjuma, had formally kicked off in London the sale of its $1 billion (R6.54 billion) stake in an oil field off the country's coast, sources said yesterday. [Full Story...] Merafe expects to complete rights issue by November next year 2005-10-06 06:00:01 Ferrochrome producer Merafe Resources, formerly SA Chrome, would have completed its R550 million rights offer before the end of next November, financial director Stuart Elliot said yesterday. [Full Story...] Oil price deepens SA's trade deficit 2005-10-03 06:00:01 Expensive crude oil imports pushed the country's trade balance deeper into a deficit in August as the increase in the value of imports outpaced exports, which are consistently under pressure from the strong rand. [Full Story...] Rand heads for gains on higher commodity prices 2005-10-03 06:00:01 The rand headed for its first quarterly gain in three as the price of gold, South Africa's largest export, rose and amid speculation the country's assets would maintain their yield advantage. [Full Story...] African oil nations must fight corruption, says WPC head 2005-09-30 06:00:01 Oil-rich African countries must get rid of their "culture of corruption" if they wanted to attract foreign investment, Eivald Roren, the president of the World Petroleum Council (WPC), said yesterday. [Full Story...] |
