Transnet shuts coal lines after derailment
March 31, 2011 by goldguru · Leave a Comment
South Africa’s freight logistics group Transnet said on Thursday that it had closed two lines linking the coal mines with the Richards Bay export terminal after a derailment near Ermelo.
Spokesman Sandile Simelane said one of the two lines would reopen on Friday.
Zimplats says still in talks over local ownership rules
March 31, 2011 by goldguru · Leave a Comment
Impala Platinum’s Zimbabwe unit said on Thursday that it remained in talks with the government about its compliance with regulations by which it must put 51% of its stake into local hands.
"Discussions are still taking place and shareholders will be kept informed of any new developments," Zimplats Holdings said in a brief statement.
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Newcrest suspends Côte d’Ivoire mine, evacuates expatriates
March 31, 2011 by goldguru · Leave a Comment
Australia’s largest gold producer Newcrest has once again suspended operations at its Bonikro mine, in Côte d’Ivoire, as the security situation in the country deteriorated further.
The gold miner told shareholders on Thursday it had evacuated expatriates to Ghana as a precautionary measure.
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Resgen awarded mining right for Boikarabelo coal mine
March 31, 2011 by goldguru · Leave a Comment
ASX- and JSE-listed Resource Generation (Resgen) said on Thursday that it had received a 30-year mining right to develop its Boikarabelo mine.
The Boikarabelo project, situated in South Africa’s Limpopo province, is said to be one of the largest remaining coal deposits in the country, constituting probable saleable reserves of 744,8-million tons of coal.
Resgen, which has a 74% shareholding in the project, lodged the application for the right in February 2010, and plans to start production as early as 2013.
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Harmony closes Free State mine after fatality
March 31, 2011 by goldguru · Leave a Comment
South African gold-miner Harmony Gold shut down operations at its Joel mine in the Free State after a rock fall incident left one mineworker dead.
The company said in a statement that the employee succumbed to internal injuries sustained following the accident on Wednesday.
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Sentula in talks with DMR to restart Nkomati opencast operations
March 31, 2011 by goldguru · Leave a Comment
JSE-listed Sentula, which jointly owns the Nkomati anthracite mine operations with the Mpumalanga Economic Growth Agency, said on Thursday it was in active discussions with the Department of Mineral Resources (DMR) to restart production at the coal mine.
Production from Nkomati’s opencast section, or Matadeni, was halted after issues around an amendment to the mine’s approved environmental management programme arose.
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Ampella plans to open new Burkina Faso gold mine by late 2013
March 31, 2011 by goldguru · Leave a Comment
Gold explorer Ampella Mining has started a prefeasibility study on the Konkera prospect, at its Batie West project, in Burkina Faso.
Addressing the final day of the Paydirt Gold conference, Ampella MD Dr Paul Kitto said the prefeasibility study would likely be completed by the third quarter of this year, with the objective of immediately moving and completing a definitive feasibility study by next year.
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Rockgate says Mali project not suspended, shares climb
March 31, 2011 by goldguru · Leave a Comment
Shares in Rockgate Capital Corp rebounded on Thursday after the uranium junior said work was continuing at its Falea project in Mali.
The company disputed press statements the previous day claiming the government had halted work at the project, which sent Rockgate’s stock down 20% on the TSX.
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Uranium spot back at December price, heightened volatility expected
March 31, 2011 by goldguru · Leave a Comment
The uranium spot market is likely to experience increased volatility, despite the partial recovery of the spot price after its plummet in mid-March on news of the damage at the Fukushima nuclear plant, in Japan.
The spot price, which fell to $49/lb immediately after the Japan nuclear crisis from $68/lb, has recovered to $60/lb – back to the same price it was in December.
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Athabasca gets option to grow Sask. uranium realty
March 31, 2011 by goldguru · Leave a Comment
TSX V-listed Athabasca Uranium on Thursday said it had agreed to earn complete ownership of the Hodges Lake property, located next to its McGregor Lake project in Saskatchewan.
To do so, Athabasca will pay cash and shares, and has also agreed to a 1% net smelter return royalty, which it can buy back for $1,5-million.
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