Aquarius closes Everest mine

[img:Aquarius%20view_0.jpg|Aquarius Platinum’s
Everest mine which
has been shut down
for at least six
months
]London, England --- MININGREVIEW.COM --- 15 December 2008 - Aquarius Platinum Limited – a focused platinum group metals (PGMs) producer in Southern Africa with a primary listing on the London Stock Exchange, plus listings on the ASX and the JSE – has decided to close its Everest mine for at least six months, which means that the majority of the workforce of approximately 1 950 people will be retrenched.

Zambian president steps in

[img:luanshya%203.thumbnail.JPG|The flotation
section at Luanshya
copper mine
]Lusaka, Zambia --- MININGREVIEW.COM --- 15 December 2008 - Zambian President Rupiah Banda has held talks with officials of the Luanshya Copper Mines plc (LCM) over a threat to abandon its copper unit, weeks after suspending building of a new US$354 million (R3.6 billion) mine.

LCM said last month it had suspended building the Mulyashi copper mine for four months from October this year, while it reviewed the copper recovery process and re-examined the project's viability in view of falling global metals prices.

Metorex restructures board

[img:Paton%20-%20Pic%201_0.jpg|Newly appointed
independent
non-executive
director Les Paton
]Johannesburg, South Africa --- MININGREVIEW.COM --- 15 December 2008 - Metorex Limited – an independent mid-tier mining group currently active in base metals, industrial minerals, and gold – is restructuring its board, subject to ratification by Metorex shareholders, to comprise a maximum of three executive directors and a majority of non-executive directors.

Mineral sales show sharp increase

[img:Mines%20-%20Pic%201_0.jpg|Platinum jewellery
– mineral sales up
almost 50%
]Johannesburg, South Africa --- MININGREVIEW.COM --- 11 December 2008 - The total seasonally adjusted value of South African mineral sales at current prices for the third quarter of 2008 rose almost 50% above those for the corresponding three months of 2007.

Releasing latest production figures here, Statistics South Africa revealed that the major contributors to the year-on-year increase of 47.6% were  coal  (150  percentage  points  or  R8 242.9  million),  PGMs  (11.5  percentage  points  or  R6 335.6  million)  and manganese ore (9.9 percentage points or R5 435.3 million).

Platmin’s US$175 million finance plan

[img:Platmin%20-%20Pic%201_0.jpg|Platmin’s Pilanesberg
mine site
]Toronto, Canada --- MININGREVIEW.COM --- 10 December 2008 - Platmin Limited – a Toronto and AIM-listed mineral exploration and development company focused on platinum group metals in the Bushveld Complex of South Africa – is to sell shares to the Brian Gilbertson-led Pallinghurst Investment Consortium and the Bakgatla-Ba-Kgafela tribe, to finance the company's Pilanesberg platinum project, in the North West province.

IDC to step up mine investments

[img:IDC%20-%20Pic%201_0.jpg|Ufikile Khumalo,
Head of Resources
and Business Unit,
IDC
]Johannesburg, South Africa --- MININGREVIEW.COM --- 10 December 2008 - The Industrial Development Corporation (IDC) – which has a total exposure of close to R17 billion rand in investment in mining operations across the African continent – is seeing an increase in funding applications for mining projects, as other funders, who had initially committed, are now either cutting down or pulling the plug altogether.

DRDGold secures 100% of Elsburg

[img:Blyvoor%20mine_0.jpg|Shaft 5 headgear
at DRDGold’s
Blyvoor mine
]Johannesburg, South Africa --- MININGREVIEW.COM --- 10 December 2008 - DRDGold Limited – Africa’s fourth-largest gold producer – has agreed to pay US$17 million (R177 million) to buy the remaining 35% of the Elsburg gold mining joint venture, and to secure total control of the low-cost project.

Aquarius suspends operations at Everest

[img:Aquarius%20light_0.jpg|Night work at
Everest
]Johannesburg, South Africa --- MININGREVIEW.COM --- 09 December 2008 - Focused platinum group metals producer Aquarius Platinum Limited – listed in London, Johannesburg and Australia – has suspended operations at its Everest mine for at least one week due to geotechnical problems.

“Instability has developed in the main decline into the mine – in part attributed to a shear zone above the decline – a feature of the geology at Everest,” the company said in a statement here.

Assmang shuts down another furnace

[img:Cato%20Ridge_0.jpg|The furnace building
at Assmang’s Cato
Ridge works
]Johannesburg, South Africa --- MININGREVIEW.COM --- 09 December 2008 - African Rainbow Minerals Limited (ARM) – a major producer of platinum, chrome and nickel in South Africa – has announced that, due to a further deterioration in the stainless steel market, Assmang Limited has decided to shut down its Number 2 Furnace at the company’s Machadodorp ferrochrome works with immediate effect.

Angola could become top diamond producer by 2010

[img:Petra2_0.JPG|Drill rigs at work
on Target AC63 at
Petra’s Alto Cuilo
project in Angola
]Luanda, Angola --- MININGREVIEW.COM --- 08 December 2008 - Angola could become the world's third biggest diamond producer by 2010, on the back of new mining concessions and strong investment in the industry.
 
In making this prediction here, state-owned diamond company Endiama admitted that in order to become one of world's top diamond players, Angola would have to double its production to 19 million carats in 2010, from an estimated 10 million in 2008. It also noted the falling demand for diamonds due to the global economic crisis.

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