Precious Metals

Mining Review Africa is a provider of daily mining commodity news. We cover precious metals, base metals, iron ore, diamonds and gems, and industrial minerals.

GOLD FIELDS’ FOREIGN SALES

Ian Cockerill
Gold Fields chief executive
officer Ian Cockerill

In announcing the sales, Gold Fields chief executive officer Ian Cockerill emphasises that although this development reduces the company’s international footprint, it remains fully committed to its often-stated strategy of international growth. “We have definitely not changed course, and our aspirations to grow our international portfolio with appropriately sized, valueadding assets remain as strong as ever,” he insists.

THREE IN A ROW

Latest development is the completion of the mine’s new carbonin- pulp (CIP) plant. Built at a cost of R58 million, the new plant was scheduled for completion in October 2007, and commissioning of the new circuit is now underway.

It is anticipated that this replacement of the old filter plant and zinc precipitation circuit, and upgrading and expansion of the metallurgical plant, will achieve three main objectives:It will reduce plant treatment costs per tonne by 25% from R52 p/t to R39 p/t; it will increase plant throughput capacity by 21 % to 170 000 tonnes per month; and it will increase gold recoveries by 3% from 93 to 96%.

R6 BILLION EXPANSION

“Although our production will be marginally less next year,” he explains, “we have five new growth projects, costing a combined total of close to R6 billion, starting production of higher-quality ounces between 2008 and 2012. These projects represent the life-blood of Harmony going forward, and bringing them on stream on time and at the right cost remains our top priority,” Briggs emphasises. “They will be adding a combined total of more than 1.4Moz to our total output over the next four years,” he adds.

ANGLOGOLD ASHANTI BONANZA

Ashanti1
The plant at Kopanang gold mine is
currently producing around 470 000
ounces of gold per annum. The uranium
project is scheduled to be fully
operational in 2010

Revealing this in an exclusive interview with Mining Review Africa, executive officer - Africa underground region - Robbie Lazare, confirms that current uranium production of 1.3 million pounds per annum will increase incrementally each year, but will jump to over 2Mtpa in three years’ time.

GOLD FIELDS RE-AFFIRMS S.A. INTENTIONS

Southdeep1-6:2007
Mechanised development drilling
at South Deep

Latest statistics reveal that the company’s annual gold production is currently more than 4.1 million ounces, its ore reserves have reached almost 93.8 million ounces, and its mineral resource figure stands at 251.7 million ounces.

COFFEY MINING OPENS IN ZAMBIA

Jonathan Hunt
Jonathan Hunt, who heads up
Coffey Mining’s new Lusaka
office in Zambia

Coffey Mining/RSG Global has opened an office in Zambia to capitalise on the booming resources industry in the country, and to create a base for future operations in the neighbouring Democratic Republic of Congo (DRC).

MANICA GOLD FORGES AHEAD

The Canadian-based Pan African Mining Corporation – which focuses on exploration and development of mineral properties in Africa – has made such significant progress with its Manica gold project in Mozambique that its pre-feasibility study has been delayed until Q1 of 2008 to accommodate new developments.

In its latest resource upgrade of the Manica project, the company reports that its ongoing exploration drilling programme has resulted in encouraging increases in grades. The total Manica resource was upgraded by 18% from 1 311Moz at 2.89g/t to 1.550Moz. The resource at the Fair Bride prospect has been increased by 20% to 1.245Moz.

NEW GOLD PROSPECTS IN DRC AND GHANA

Ongoing drilling at two exploration projects – one in Ghana and the other in the Democratic Republic of Congo (DRC) – have revealed potential for large-scale deposits which could support substantial gold production operations.

This is the latest news from Mwana Africa plc – a pan- African resources company and the first African-owned, African-managed business in this sector to be listed on the AIM. With operations and exploration activities in Zimbabwe, and a broad range of exploration and development projects in the DRC and Ghana, its asset base includes gold, nickel, copper, zinc, cobalt and, more recently, diamonds and oil and gas.

TWO NEW WEST AFRICAN GOLD MINES BY 2008

Cluff Gold plc has confirmed that two of its three principal projects in the region will be producing gold by early 2008.

Traded on the AIM, the company has assembled a portfolio of mineral exploration and development interests in Côte d’Ivoire, Burkina Faso, Sierra Leone, and Mali. Its aim is to provide a steady progression of mines coming into production, and to have the capacity to produce 300 000 ounces of gold within two years.

PROJECTS BOOM

Leon Uys
Leon Uys, managing
director-designate of DRA

“Our notional turnover (the amount of money we manage on behalf of our clients on projects) for the 2006 financial year to February 2007 was R5.5 billion – an increase of more than 60% over the R3.5 billion achieved in the 2005 financial year,” he reveals. “Our current confirmed work-load will see us achieve our objectives for the next two years,” he adds, “and the secured workload for 2007 and 2008 should show a further significant increase each year over the R5.5 billion for 2006. And there is of course the upside potential of further opportunities we expect as we go along.”

Latest Feature