African Diamonds on Monday announced further results from its joint venture with De Beers at the AK6 diamond discovery in the Orapa province in Botswana. From the LDD016 drill-hole a total of 2 258 diamonds weighing 122,1-carats were recovered from 316-tonnes from one 23-inch large-diamond drill hole.

South Africa’s third-largest gold miner, Harmony Gold, is expected to make an offer for Western Areas in the future to increase its stake in the company following its acquisition of a 29% stake, analysts and fund managers said on Friday. "I think that Harmony could make an offer to Western Areas’ minorities," an analyst said.

South Africa’s third-largest gold miner, Harmony Gold, on Friday announced that it has acquired 44,99-million shares in Western Areas, representing a 29,2% stake in the company. The acquisition was made up by acquiring 37,37-million shares from fund manager Allan Gray and 7,62-million shares on the open market.

The proposal by the Zimbabwe government that it own 51% of the country’s platinum mines, with a proposed ceding of 25% for free, would render Zimbabwe’s existing platinum mines, as well as any expansions, "uneconomic", Impala Platinum (Implats) Chief Financial Officer David Brown told I-Net Bridge on Monday.

Gold miner DRDGold is looking to diversify into the rest of Africa and is examining the potential of two gold-mining properties in two different African countries, DRDGold strategic development officer Ilja Graulich said on Thursday. DRDGold started the process of diversifying into Africa in November last year, he said.

Global resources group BHP Billiton on Wednesday reported a 47,8% increase in attributable profit for the half-year ended December 2005, to $4,364-billion from $2,953-billion in the previous comparative period. BHP Billiton’s latest half-year result is the fifth consecutive record half-year result the group has produced, the company said.

The spot price of platinum on Friday climbed to an all-time high, while sister metals palladium and rhodium reached long-term highs on fund buying and bullish sentiment towards platinum group metals, traders and analysts said. At 3.10pm, platinum was quoted at $1 082,50/oz, up $1,50/oz from its previous close.

The spot price of gold on Tuesday climbed to a 25-year high of $570,85 a troy ounce on continued investor interest in the metal, traders said. The spot price of platinum on Monday climbed to an all-time high of $1 081 an ounce due to strength in precious metals as well as renewed investor appetite for the metal, analysts said.

World number two Impala Platinum on Monday climbed to an all-time high ahead of the group’s latest interim results due in mid-February, the weaker rand and the platinum price, which is close to its all-time high, equities traders said.