SA gold miners see better results

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FlorianPascale:

SA gold miners see better results

 
19.01.05 17:39

"DRDGold will issue its December quarter production results on January 27 and its quarterly presentation of December 2004 results on 24 February."

hxxp://www.businessday.co.za/bday/content/direct/1,3523,1791860-6078-0,00.html
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FlorianPascale:

DRDGold has said that the jobs of 6513 workers are

 
17.03.05 21:08
DRDGold has said that the jobs of 6513 workers are at stake.

aus:

LABOUR
Nearly 20 000 jobs on the line
Posted Thu, 17 Mar 2005

Nearly 20 000 people could lose their jobs in the next two months, according to trade union Solidarity.

"We regard this as an employment state of emergency," said Flip Buys on Thursday, the union's general secretary .

This trade union is currently negotiating with 25 companies against the retrenchment of 18 293 workers, mostly in the mining, chemical, telecommunications and metal industries.

A further 1500 jobs were threatened in individual cases, said spokesperson Dirk Hermann.

Strong rand hurting companies

He said Solidarity had appointed a commission of enquiry into the economic rationale behind the retrenchments, which the companies concerned were blaming on the strong rand.

The commission would also look into possible ways to "lessen the impact of the crisis".

Solidarity is arguing that something must be done to lessen the damage wreaked on thousands of families by the effects of a strong rand.

"If a natural disaster causes economic disruption to 20 000 people, a state of emergency is declared. We accept that certain underlying economic factors cannot be altered, but I have never heard anybody say that because a natural emergency cannot be averted nothing can therefore be done for the victims", Buys said.

Major retrenchments in mining

The major retrenchment would be in the mining industry, Hermann said.

At Harmony Gold mines, 4914 workers might be laid off.

DRDGold has said that the jobs of 6513 workers are at stake.

De Beers is mentioning 1270 retrenchments and Kumba, 400.

Five chemical manufacturers around the country are also dismissing anything from 50 to 300 people each.

Telkom is retrenching 2903 people and in the metal and engineering industry there are fifteen companies that are planning lay-offs totalling more than 1000 workers.

The findings of Solidarity's commission would be published at the beginning of April, Hermann said.

Sapa
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FlorianPascale:

DRDGOLD: We are not liable

 
08.04.05 16:14
DRDGOLD: We are not liable
By: Alec Hogg
Posted: '07-APR-05 10:00' GMT © Mineweb 1997-2004

MINEWEB: Good news for Harmony – the strike is over. The workers are going back after the last few days that they have been out on strike. Not such good news for Harmony or for AngloGold, for that matter, is that mines in the North West province could be looking at a little bit too much water. Mineweb’s editor Jim Jones is in the studio with us. Jim, you uncovered this story and it has caused quite a furore. Just please tell us what it's all about.

JIM JONES: Without going into the legal technicalities of it, Alec, the Stilfontein mine makes a lot of water. It comes in from dolomite and it’s on the surface, and it's about 25, 26, 28, 30m litres a day. That’s an awful lot of water. DRD, which owns two mines in the south, Buffelsfontein and Harties, has walked away from them, declaring them …

MINEWEB: Harties, not Harmony.

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FlorianPascale:

Flooding looms for AngloGold Ashanti mines

 
08.04.05 16:18
Flooding looms for AngloGold Ashanti mines
Justin Brown | Johannesburg, South Africa

07 April 2005 09:10

Three gold mines operated by world number two gold-miner AngloGold Ashanti face the prospect of flooding, if rival DRDGold doesn't pick up the tab for the pumping of underground water from its Hartebeesfontein and Buffelfontein gold mines, which are currently shut down and in the process of being liquidated.

The three mines in South Africa are its flagship operation, Great Noligwa -- which is also the largest gold producer in the AngloGold Ashanti group -- and the Kopanang and Moab Khotsong mines.

The Great Noligwa and Kopanang mines produced 326 000 troy ounces of gold in the quarter ending December 2004, or a fifth of AngloGold Ashanti's output for the three-month period.

Moab Khotsong is a new mine on which construction started in the early 1990s. The mine is expected to start producing gold in 2006 and should build up to a yearly output of 500 000 oz.

In March, DRDGold put the Hartebeesfontein and Buffelfontein gold mines into liquidation, which saw about 6 500 people lose their jobs.

"There was a meeting today between the various affected parties, including AngloGold Ashanti, and the pumps most definitely haven't been turned off. We are going to address this jointly. The matter of the underground water is being addressed at a very high level and everything is being sorted out," a legal spokesperson for one of the liquidators of the two gold mines said on Wednesday.

"The talk about flooding is really nothing -- a storm in a teacup. The problem of flooding is a widespread problem in the gold-mining industry. A company can't just walk away, it has to continue pumping," a Johannesburg analyst said.

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FlorianPascale:

AngloGold Ashanti Comments on Speculation

 
08.04.05 16:30
Press Release Source: AngloGold Ashanti

AngloGold Ashanti Comments on Speculation Concerning Underground Water at Vaal River Operations

Wednesday April 6, 7:43 am ET


JOHANNESBURG, SOUTH AFRICA--(MARKET WIRE)--Apr 6, 2005 -- There has been some speculation reported in the media about AngloGold Ashanti's (NYSE:AU) position in regard to the cessation of the mining operations at, and the placing into liquidation of, DRD Gold's North West operations at Hartebeestfontein and Buffelsfontein.
Four mining companies operate in the Klerksdorp-Orkney-Stilfontein-Hartebeestfontein (KOSH) area: Buffelsfontein Gold Mines Limited ("Buffels"), which owns Hartebeesfontein Gold Mine and Buffelsfontein Gold Mine; Harmony Gold Mining Company Limited ("Harmony"); Stilfontein Gold Mining Company Limited ("SGMC") and AngloGold Ashanti Limited.

The mines not operated by AngloGold Ashanti are all updip of AngloGold Ashanti's mines and underground water, if not controlled, would flow down the natural dip in the underground strata into the AngloGold Ashanti mines. Consequently, the updip mines are obliged in law to continue pumping underground water, even after their mining operations have ceased.

1. The Law

The obligations to continue pumping underground water arise under the following statutory provisions as well as common law:

1.1. National Water Act 36 of 1998

In terms of the National Water Act, the upstream mines require a licence in order to undertake their pumping activities. Any alteration to the pumping activity (including cessation of those pumping activities) would only be permissible if authorised by the relevant licence or the Department of Water Affairs and Forestry (DWAF).

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FlorianPascale:

NUM seeks help for shut mines

 
08.04.05 18:01
Posted to the web on: 08 April 2005
NUM seeks help for shut mines
John Fraser

Resources Editor

HARMONY CE Bernard Swanepoel said yesterday he had been asked by the National Union of Mineworkers (NUM) to consider taking over the two DRDGOLD mines near Klerksdorp that were provisionally liquidated last month.
Harmony has a track record in turning underproductive assets around, and the union clearly hopes to restore some of the 6500 jobs that were lost when the mines were closed ……

“We were asked by the NUM to look at the assets,” Swanepoel said.
He said Harmony would be in a position to consider taking on the mines only if they were “assets unencumbered by all sorts of liabilities”.
Harmony’s involvement would “depend on what the liquidators are selling. The liquidators must make clear where the pumping and past liabilities lie.”

He said environmental commitments and pumping liabilities would be two key areas of concern.
Swanepoel said that a Harmony official had been asked to contact the liquidator to establish “whether there is value in the assets — whether the liquidation process will strip it of historical liabilities, such as expectations about employment levels and environmental liabilities”. With Bloomberg

hxxp://www.businessday.co.za/articles/topstories.aspx?ID=BD4A34524
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FlorianPascale:

Ultimatum to mines over flooding danger

 
12.04.05 17:04
SOUTH AFRICA
Ultimatum to mines over flooding danger
April 12, 2005

By Alameen Templeton

The state has given gold mines, squabbling over the R85-million-a-year ground-water crisis threatening the Vaal River - and thousands of jobs - two weeks to find a solution.

The recent liquidation of DRDGold's Hartebeestfontein and Buffelsfontein gold mines means someone has to take responsibility for pumping 28-million litres of water a day out of an underground lake to prevent downstream mines from flooding.

DRDGold says the huge cost of the pumping operation was one of the main reasons why its mines had to go under. AngloGold, whose Ashanti operation is downhill from DRDGold's mines, says it will cost it R85-million a year if it has to take over the pumping responsibilities.

mehr:

hxxp://www.thestar.co.za/index.php?fSectionId=129&fArticleId=2478844
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FlorianPascale:

AngloGold Ashanti goes to court on DRDGOLD pumping

 
12.04.05 17:07
AngloGold Ashanti goes to court on DRDGOLD pumping

Tue April 12, 2005 11:59 AM GMT+02:00

JOHANNESBURG (Reuters) - AngloGold Ashanti Ltd said it will ask a court on Tuesday to force South African rival DRDGOLD to keep pumping water from shut mines since otherwise its own mines nearby were in danger of flooding.

DRDGOLD put into liquidation its North West mines last month, cutting production by a third and putting 6,500 people out of work.

Threatened by possible flooding are two of the biggest mines owned by AngloGold, the world's second largest gold producer, and a mine owned by Harmony Gold.

mehr:

hxxp://www.reuters.co.za/locales/...nessNews&localeKey=en_ZA&storyID=8153437
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FlorianPascale:

S.Africa orders miners to share mine pumping costs

 
15.04.05 18:49
S.Africa orders miners to share mine pumping costs
Fri April 15, 2005 6:04 PM GMT+02:00

JOHANNESBURG (Reuters) - The South African government has ordered three mining groups to share the costs of pumping water at Stilfontein and Buffelsfontein gold mines, Anglogold Ashanti said on Friday.

"The Department of Water Affairs and Forestry today issued a directive, as an interim measure, ordering ... DRDGold, Harmony and ourselves to share equally the cost ... at Stilfontein and Buffelsfontein Gold Mines," the company said in a statement.

It is believed that the costs covered by the directive total some 4.3 million rand per month in total, though this figure is still to be verified, the statement said.

hxxp://www.reuters.co.za/locales/...nessNews&localeKey=en_ZA&storyID=8196906
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FlorianPascale:

South African Government Issues Directive to DRDGo

 
15.04.05 18:52
South African Government Issues Directive to DRDGold, Harmony and AngloGold Ashanti

JOHANNESBURG, SOUTH AFRICA -- (MARKET WIRE) -- 04/15/2005 -- The South African Department of Water Affairs and Forestry today issued a directive, as an interim measure, ordering three mining groups, DRDGold, Harmony and AngloGold Ashanti (NYSE: AU) to share equally the costs of pumping water at a number of shafts at Stilfontein Gold Mine and Buffelsfontein Gold Mines.

mehr:

hxxp://www.marketwire.com/mw/release_html_b1?release_id=84738
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FlorianPascale:

Solidarity loses DRDGold court case

 
15.04.05 19:21
Solidarity loses DRDGold court case
Pretoria
15 April 2005 12:38

Trade union Solidarity's urgent application to oppose the choice of liquidators of DRDGold's operations in North West was dismissed in the Pretoria High Court on Friday.

Solidarity and the United Association of SA (Uasa), which represent about 660 of the mine's 6 500 workers, asked the court to set aside the Master of the High Court's decision not to appoint the liquidators of their choice, claiming their members could be severely prejudiced in the liquidation.

Solidarity expressed fears that preference would be given to large commercial creditors instead of workers.

mehr:

hxxp://www.mg.co.za/...leid=235074&area=/breaking_news/breaking_news__sport/
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FlorianPascale:

Harmony seeks urgent interdict

 
18.04.05 16:41
Harmony seeks urgent interdict against water pumping decision
By: Gareth Tredway
Posted: '18-APR-05 12:00' GMT © Mineweb 1997-2004

JOHANNESBURG (Mineweb.com) -- On Monday afternoon Harmony Gold was set to apply to South Africa’s High Court in Johannesburg for an urgent interdict against last week’s water pumping directive made by the Department of Water Affairs and Forestry.

On Friday the Department issued a directive, as an interim measure, ordering DRDGOLD, Harmony and AngloGold Ashanti to share the costs of pumping water on a number of shafts at the Stilfontein and Buffelsfontein Gold Mines near the town of Klerksdorp.

The directive followed an urgent application made to the High Court after liquidators of the Buffelsfontein mine, which was put into receivership by DRDGOLD last month, were set to turn off water pumping facilities. DRDGOLD was also paying the water-pumping fees of Stilfontein, which ceased gold production several years ago, to prevent its own mines from flooding.

mehr:

hxxp://www.mineweb.net/sections/gold_silver/433576.htm
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FlorianPascale:

Roger Kebble responds

 
18.04.05 21:48
Roger Kebble responds

hxxp://www.miningmx.com/commentary/433350.htm
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FlorianPascale:

Court rules gold miners must pay for water pumping

 
19.05.05 17:49
Court rules gold miners must pay for water pumping

www.miningweekly.co.za/min/news/today/?show=67563
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FlorianPascale:

Simmer & Jack gets DRDGold nod

 
26.05.05 16:44
Simmer & Jack gets DRDGold nod

Simmer & Jack, a South African gold producer, has been nominated as the preferred bidder for DRDGold’s Northwest operations, which it liquidated earlier this year.

www.mineweb.net/fast_news/443323.htm
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FlorianPascale:

Staff pin hopes on Kebble as DRDGold exits

 
18.07.05 19:22
Staff pin hopes on Kebble as DRDGold exits

Man of the cloth puts food on the table while firms haggle

www.busrep.co.za/index.php?fSectionId=&fArticleId=2627943
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Trout:

Spekulativer Kauf???

 
20.02.07 06:48
DRD Gold besitzt anrechenbare Goldreserven von fast 10 Mio Unzen.
Bei dem jetzigen Kurs liegt die Marktkapitalisierung bei ungefähr 270 Mio$
Die Reserven werden somit mit knappen 30$/Unze bewertet.Rechnet man noch die Schulden in Höhe von 70Mio mit ein ,kommt man auf eine Bewertungvon knapp von 40$/Unze.
Bei momentanen Übernahmen,werden 100-120$/Unze geboten!!
Die Cashkosten schlagen jedoch mit ca 450$/Unze zu Buche.Somit verbleibt ein positiver Cash Flow in Höhe von gerade mal 7Mio$.
Ich denke,man kann zu diesem Preis kaufen.(0,60€)
Die Aktie ist günstig zu haben,zumal DRD alles daran setzen wird,ein Delisting(Kurs unter 1$)zu vermeiden.
Desweiteren stehen die Streiks kurz vor dem Ende.
Ein erster Zielkus ist 1$(0,76€)
So long
Trout





--------------------------------------------------
Wahre Bildung besteht darin,zu wissen,was man kann,
und ein für alle Male zu lassen,was man nicht kann.
(Voltaire)
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Silberlöwe:

Bin heute wieder eingestiegen

 
13.03.07 13:11
in DRDGOLD und hoffe auf eine Kurserholung nach den
Verlusten der letzten Tage.
Die kann ja nicht nur fallen, sicher hat es mehr als
genug schlechte Nachrichten in letzter Zeit gegeben, aber
das Unternehmen ist ja kein Hotstockwert, sondern das
älteste Minenunternehmen in Südafrika mit realen Goldreserven
für die nächsten 17 Jahre im Boden.

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izzy:

es gibt nachrichten

 
23.03.07 14:42
diese nachrichten können für uns gut sein - bitte um euere feedback

03/22/2007 10:41:54 - DRDGold's Emperor Sells Fijian Assets To Westech Gold

Edited Press Release

JOHANNESBURG -(Dow Jones)- South African gold miner DRDGold Ltd. (DROOY) Thursday said its majority-owned Australian unit, Emperor Mines Ltd. (EMP.AU), has signed an agreement to sell all its Fijian assets, including the Vatukoula Mine, to privately-held Westech Gold Pty Ltd.

Under the agreement, Emperor is selling 100% of its sares in its Australian incorporated companies, which in turn own the Fijian assets of Emperor. With immediate effect, all assets and liabilities of the Emperor Fijian operations will be transferred to Westech.

Announcing the sale in Brisbane Thursday, Emperor Chief Executive Brad Gordon said that the sale and transfer of Fiji assets and liabilities was particularly important at this time because it allowed the company to draw a line under its activities in Fiji and concentrate on the restructuring process announced earlier this year.

"We can now confirm the sale of all Fijian company assets, something we considered essential to stem the cash flow drain on the Emperor group occasioned by the ongoing costs of care and maintenance at Vatukoula," Gordon said.

Frazer Bourchier, former general manager of Fiji operations for Emperor Mines, said the sale paves the way forward for future operations and investment in the Vatukoula district by the new owners and represents the end of a chapter for Emperor Mines.

(END) Dow Jones Newswires

March 22, 2007 05:41 ET (09:41 GMT)

© 2007 Dow Jones & Company, Inc.


Supplier : DJN  

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17.01.22 21:41
ineteres
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