Mining & Metals Archives - News@Media

SPIRRO LOUVERDUS SENTENCED TO A FINE OF R1.5 MILLION

admin — Wed, 14 Apr 2021 06:34:32 +0000

NORTHERN CAPE – Spirro Louverdus (48) pleaded guilty before Kimberley Magistrate court on Tuesday, 13 April 2021 and was sentenced to five years imprisonment wholly suspended for five years and a further fine of R1.5 million. This follows a project driven investigation by the Directorate for Priority Crime Investigation which started in 2014 addressing issues […]

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AngloGold Ashanti to Restructure South African Operations to Ensure Their Viability

admin — Wed, 28 Jun 2017 11:51:16 +0000

AngloGold Ashanti has made the difficult decision to begin a consultation process with employees in terms of section 189 and 189A of the Labour Relations Act, with respect to restructuring certain of its South African business units. This follows a review of the options to safely turn around the performance of these loss-making operations. This […]

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Diamond Prices Firm Slightly with U.S. Optimism

admin — Tue, 06 Dec 2016 10:25:41 +0000

Diamond trading slowed in November as Indian liquidity dried up and manufacturing shut down for Diwali. U.S. jewelers completed their inventory purchases and focused on selling during the holiday season rather than buying from overseas suppliers. Sentiment improved as the season began. Stock markets rallied to record highs on Thanksgiving weekend and the dollar strengthened […]

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AngloGold Ashanti Says Third-Quarter Free Cash Flow Soars to $161m

admin — Mon, 14 Nov 2016 06:04:14 +0000

AngloGold Ashanti announced a significant jump in third-quarter free cash flow to $161m, further improving its net debt position despite a decline in ore grades at some of its operations and a challenging operating environment for its South African business. Free cash flow was $161m, before the $30m once-off cost incurred for the early repayment […]

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Trump Victory Improves Outlook for Diamonds and Jewelry

admin — Thu, 10 Nov 2016 08:42:39 +0000

Trump’s election victory coupled with Republican control of Congress is expected to set the stage for improved economic conditions that will support increased demand for diamonds and jewelry. Lower taxes, higher domestic employment and the end of Obamacare will increase disposal income and encourage investment in local businesses. This will fuel new domestic economic growth. […]

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Diamond Prices Decline in October

admin — Wed, 02 Nov 2016 06:02:13 +0000

Diamond markets were quiet in October with wholesale businesses closing for the respective Chinese, Jewish and Indian holidays. Trading slowed as larger U.S. holiday orders were already filled and dealers shifted to accommodate specific requirements from their retail customers. The RapNet Diamond Index (RAPI™) for one-carat, RapSpec-A3+ polished diamonds fell 2.3% in October. The index […]

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Diamond Prices Stable in September

admin — Thu, 06 Oct 2016 09:53:47 +0000

Diamond markets were steady in September. Sentiment improved as trading at the Hong Kong Jewellery & Gem Fair, a bellwether for the industry, was better than expected even though buyers refrained from large inventory purchases. The polished market was supported by relatively high rough prices as suppliers held polished prices firm, preferring to delay sales […]

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Diamond Prices Mixed in Slow August Trading

admin — Tue, 06 Sep 2016 10:30:59 +0000

One-carat diamond prices remain under pressure with low trading volume during the August vacation period. Polished inventory is increasing with steady manufacturing and sluggish demand as dealers prepare for the fourth-quarter holiday season. Some improvement in under-the-carat goods as Chinese bridal demand stabilizes. The RapNet Diamond Index (RAPI™) for 1-carat diamonds fell 0.8% in August. […]

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AngloGold Ashanti Trebles Free Cash Flow to $108m, Cuts Net Debt 32%

admin — Mon, 15 Aug 2016 06:13:33 +0000

AngloGold Ashanti said it more than trebled free cash flow generation in the first half of the year to $108m and lowered net debt by almost a third, as costs fell and it took advantage of a higher gold price. AngloGold Ashanti has delivered on a range of self-help measures over the past two years […]

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Rapaport to Provide 100% Natural Untreated Diamond Melee

admin — Tue, 02 Aug 2016 12:47:00 +0000

August 2, 2016, New York…Rapaport Auctions and Trading is pleased to offer clients the opportunity to purchase parcels of melee that are 100% natural and untreated. Every single diamond in these parcels is tested using the latest Gemological Institute of America (GIA) equipment and testing technology. In addition, Rapaport will offer parcels that have been […]

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Rapaport Press Release: Diamond Prices Decline in July

admin — Tue, 02 Aug 2016 09:38:26 +0000

Polished diamond prices softened in July continuing the downtrend in the second quarter. Diamond markets were seasonally quiet with U.S. wholesalers taking their annual summer vacation. Overall polished demand remains weak. The RapNet Diamond Index (RAPI™) for one carat diamonds fell 1.7 percent in July. RAPI for 0.30-carat diamonds dropped 1.8 percent and RAPI for […]

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Fatalities at Kopanang and TauTona Mines

admin — Sat, 30 Jul 2016 09:38:30 +0000

AngloGold Ashanti regrets to announce the death of two employees, a Rock Drill Operator and a Crew Supervisor, who were fatally injured in fall of ground and tramming incidents at Kopanang and TauTona Mines this week. The Department of Mineral Resources (DMR) was notified of both incidents and in-loco inspections were conducted. Initial Management response […]

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Anglogold Ashanti Trading Statement For he Six Months Ended 30 June 2016

admin — Fri, 22 Jul 2016 10:30:39 +0000

AngloGold Ashanti will release results for the six months ended 30 June 2016 (“the period”) on the Johannesburg Stock Exchange News Service on 15 August 2016. With reference to the Listings Requirements of the JSE Limited, issuers are required to publish a trading statement as soon as they become reasonably certain that the financial […]

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Diamond Prices Soften In May

admin — Tue, 07 Jun 2016 09:27:20 +0000

Polished diamond prices declined slightly in May with buyers waiting for the Las Vegas shows. Trading at the JCK Las Vegas show, which took place June 3 to 6, was relatively weak with traffic slower than previous years. The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds was flat in May. RAPI for 0.30-carat diamonds […]

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Rapaport Town Hall Meeting to Debate Synthetic Diamonds

admin — Wed, 25 May 2016 12:57:34 +0000

JCK Las Vegas Jewelry Show – June 6, Monday, 8:00-10:00 am May 25, 2016, Las Vegas – Rapaport is sponsoring a town hall meeting that will provide an open forum for members of the jewelry trade to respectfully debate the pros and cons of synthetic diamonds. The town hall meeting is free and open to […]

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AngloGold Ashanti Generates Strong Cash Flow in Q1; Operations Solid

admin — Mon, 09 May 2016 06:15:07 +0000

AngloGold Ashanti today announced strong free cash flow in the first quarter as an ongoing focus on cost management, and leverage to weaker currencies, yielded positive results and improved margins. Free cash flow was $70m, a marked improvement to the outflow of $40m in the first quarter of last year. AngloGold Ashanti has delivered on […]

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Diamond Prices Soften with Weaker Global Demand

admin — Tue, 03 May 2016 09:20:24 +0000

Polished diamond trading slowed in April due to sluggish demand at the start of a seasonally-quiet period. Sentiment weakened as the positive momentum from the first quarter failed to gain traction. Supplies significantly increased due to high rough sales and polished production in the first quarter. The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds […]

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Fatality at Savuka Mine

admin — Sat, 30 Apr 2016 13:03:48 +0000

(JOHANNESBURG – NEWS RELEASE) – AngloGold Ashanti regrets to announce the death of two employees who were fatally injured after a series of seismic events, the largest measuring 3.5 on the Richter scale, at its Savuka Shaft. The Department of Mineral Resources has been notified of the incident and an in-loco inspection will be conducted […]

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Polished Diamond Prices Stable in March

admin — Tue, 05 Apr 2016 10:35:16 +0000

April 5, 2016, New York … Polished diamond prices were stable in March supported by steady dealer trading even though the outlook for consumer demand remains uncertain. In the first quarter, sentiment improved as polished prices rose and profitability increased on select new production. The RapNet Diamond Index for 1-carat, GIA-graded diamonds was flat in […]

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Rapaport Hong Kong Polished Diamond Auction Sells Over 80,000 Carats for $12M

admin — Wed, 16 Mar 2016 10:38:47 +0000

Rapaport Auctions closed its auction last week at the Hong Kong show achieving $12M for over 80,000 carats. The auction consisted of hundreds of parcels of recycled and finely assorted premium quality diamond parcels in all shapes, qualities and sizes. The diamonds were sourced from retailers, pawnshops and refineries from around the world. “We are […]

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IFP Offers Message of Support to the Families of Trapped Miners

admin — Tue, 08 Mar 2016 10:36:21 +0000

As the Inkatha Freedom Party, we would like to offer our message of support to the families of the three miners who are still trapped underground at Lily mine in Mpumalanga. We acknowledge that it is now more than a month since the tragedy strike at a Barberton mine with family’s loved ones still trapped […]

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Six illegal mining suspects to appear in Palm Ridge Court

admin — Wed, 02 Mar 2016 14:47:58 +0000

Pretoria: A joint police operation looking into illegal mining in Gauteng’s east rand has ended in the successful arrest of six men in Thokoza, Ekurhuleni. The six suspects were arrested by members of the South African Police Service’s National Investigative Unit (NINU) and crime intelligence, together with other colleagues from the Ekurhuleni Metro Police Department. […]

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Polished Diamond Prices Firm in February

admin — Tue, 01 Mar 2016 10:46:20 +0000

One-Carat RAPI Rises for Fourth Consecutive Month PRESS RELEASE, March 1, 2016, New York … Polished diamond prices rose in February continuing the uptrend evident since November. Shortages continue to support the market while trading slowed during the month as dealers in China and Hong Kong took vacation during the Chinese New Year period. The […]

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AngloGold Ashanti Has $160m Q4 Free Cash Flow, Cuts Net Debt 30%

admin — Mon, 22 Feb 2016 03:26:26 +0000

AngloGold Ashanti today said it cut net debt by almost a third last year after margins increased despite lower gold prices, and the company generated free cash flow of $160m in the fourth quarter. AngloGold Ashanti delivered on a range of self-help measures last year to reduce debt using internally generated funds, without diluting shareholders. […]

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Polished Diamond Prices Rise in January

admin — Tue, 02 Feb 2016 10:46:51 +0000

Shortages Spur Increases in RAPI for 0.30-0.50ct. Diamonds New York – Polished diamond prices rose in January as shortages continue to support the market. U.S. demand is steady after a reasonably good holiday season, while China’s wholesale market slowed as the focus shifted to retail for the Chinese New Year Spring Festival starting on February […]

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