some news:
News article received, Tuesday, April 20, 1999 11:43:56 AM EST
DURBAN ROODEPOORT DEEP STILL INTERESTED IN AUSTRALIAN GOLD
APR 20, 1999, M2 Communications - South African miner Durban Roodepoort Deep (DRD) says that it would still like to be involved in the Australian gold industry. It has now engaged the services of a bank to ensure that its next takeover bid in Australia will be more successful than its recent failed bid for Emperor Mines Ltd. Meanwhile, Emperor Mines is preparing for a new takeover bid by DRD, and has decided to reject any effort by DRD, which currently owns 17.4% of Emperor, to get a seat on its board. (The Australian Financial Review, 10 Apr 1999; The Courier-Mail, 12 Apr 1999). African Mining Monitor includes paraphrased and abstracted material with the source, which is deemed to be reliable and duly identified. AMM is unable to provide full-text copies of these original documents.
and noted:
News article received, Tuesday, April 20, 1999 11:45:06 AM EST
BRIEFLY NOTED
APR 20, 1999, M2 Communications - Spinifex Gold is planning to absorb its subsidiary East Africa Gold Corp (EAGC), in which it has a 61.6% stake, to obtain full control of EAGC's promising gold prospects in the Lake Victoria Goldfields in Tanzania. (The Australian, 12 Apr 1999; The Australian Financial Review, 09 Apr 1999; The West Australian, 12 Apr 1999).
JAB International Trading and Brush Creek Mining and Development have completed their merger and the two US companies will now be known as JAB International Inc. The merged company has significant gold and diamond mining assets in the Central African Republic, as well as other mining properties in Honduras and the US. (Platt's Commodity News, 14 Apr 1999).
Tan Range Exploration Corp reports that a rotary air blast drilling programme has confirmed gold values along the Golden Horseshoe Reef Extension at Itetemia Property, Tanzania. (Chemical Business Newsbase, 13 Apr 1999).
Durban Roodepoort Deep, the South African mining group, says that production at its Blijvooruitzicht gold mine will be reduced by 180kg this month because of equipment problems at a shaft. The lost output represents 3.3% of the group's total gold production for the June quarter. (Beeld, 14 Apr 1999; Company statement, 14 Apr 1999; Platt's Commodity News, 14 Apr 1999; Reuters, 13 Apr 1999).
South African gold producer Gold Fields Ltd has denied allegations that it would have recently sold large amounts of gold forward. It thinks that the rumours have emanated from New York-based bullion dealers wanting to bring down the gold price. (Company statement, 16 Apr 1999).
Australian mining company Hargreaves Resources has succeeded in its bid for Diversified Mineral Resources, a company with holdings in Africa, and now has about 56% of its stock. (The Australian Financial Review, 17 Apr 1999).
South Africa's Kalahari GoldRidge Mining Co Ltd has reported a record gold production of 672,8kg for 1Q'99, at a cash cost of slightly under US$207/ounce. Meanwhile, the company expects to increase its tonnage throughput at the end of 2Q'99 after commissioning of its new pre-primary crusher. (Company statement, 16 Apr 1999).
Zambia Consolidated Copper Mines (ZCCM), the state-owned Zambian copper miner, and South Africa's Anglo American have begun salary negotiations with the Mineworkers Union of Zambia, which represents about 30,000 miners. (Times of Zambia, 12 Apr 1999).
The Zambian government, the state-owned Zambia Consolidated Copper Mines (ZCCM) and ZCI, which have been in negotiations to privatise the ZCCM's Konkola, Nchanga and Nkana copper-cobalt divisions, say the talks are going well, but that they need more time to reach an agreement. (Metal Bulletin, 08 Apr 1999).
African Mining Monitor includes paraphrased and abstracted material with the source, which is deemed to be reliable and duly identified. AMM is unable to provide full-text copies of these original documents.
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