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/ 11 December 2007
South Africa’s gold production costs are among the highest in the world, the South African Reserve Bank said in its December <i>Quarterly Bulletin</i> released on Tuesday. Continued increases in input costs had an adverse affect on gold mining in the third quarter of 2007.
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/ 11 December 2007
Rio Tinto, the world’s third-largest resources group, has played its trump card in its battle to maintain its independence in the wake of BHP Billiton’s hard-sold merger proposal by calling on the United Kindom’s Takeover Panel to set a deadline for a formal offer.
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/ 10 December 2007
De Beers Consolidated Mines’s R1-billion sale of its Cullinan diamond mine in Pretoria to the Petra Diamonds Cullinan Consortium has taken an important step forward with Monday’s announcement that the Department of Minerals and Energy has agreed to convert the old-order mining right held by De Beers into a new-order mining right.
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/ 3 December 2007
Emerging global superpower China may snatch South Africa’s crown as the world’s top gold producer this year. South Africa has thus far managed to hold on to the crown, but China, which has established itself as the world’s second-largest gold producer after seven years of continued growth, now looks set to overtake South Africa in the production stakes.
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/ 22 November 2007
De Beers Consolidated Mines, the South African arm of diamond giant De Beers, on Thursday said it had agreed to sell the Cullinan Diamond Mine as a going concern to the Petra Diamonds Cullinan Consortium for a consideration of R1-billion payable in cash.
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/ 12 November 2007
The world’s biggest resources group, BHP Billiton, on Monday piled pressure on Rio Tinto to take another look at its proposed $153-billion all-scrip merger by pitching the benefits of the merger to analysts and shareholders. Marius Kloppers, CEO of BHP Billiton, said the combination would unlock value that is otherwise unavailable.
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/ 6 November 2007
The mining industry does not knowingly and willingly send people into mines to die, Chamber of Mines outgoing president Lazarus Zim said on Tuesday. Speaking at the chamber’s annual general meeting, Zim said the mining sector shares concerns about the escalating accident and fatality rate at South African mines.
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/ 26 October 2007
Indian conglomerate Tata may soon make a foray into South Africa’s lucrative mining industry, a report in India’s <i>Economic Times</i> claimed on Thursday. The report said the group could team up with one of South Africa’s established mining companies instead of going it alone.
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/ 25 October 2007
A 12-day-long strike at Sasol Mining in Secunda has come to an end with both Sasol and employees represented by the newly recognised United People’s Union of South Africa trade union agreeing that work would resume on Thursday afternoon. An estimated 2 000 employees embarked on the strike almost two weeks ago.
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/ 17 October 2007
The National Union of Mineworkers (NUM) said on Wednesday that it had struck a double-digit wage deal with platinum miner Lonmin. The trade union said it had signed a new two-year wage agreement with Lonmin that would see workers getting 10% in the first year and 8% in the second year.