Gold

Aurora Empowerment Systems claims illegal mining has cost the company at least R80m worth of damages at its East Rand operations. Four illegal miners perished at its Grootvlei mine.

Great Basin Gold reported a narrowing in year-on-year losses for the June quarter and said its flagship South African mine, Burnstone, would reach commercial production in September.

Gold producer Simmer & Jack Mines has advised that it has settled R100m owing to Rand Merchant Bank as part of the R220m bridge loan.

Gold Fields CEO Nick Holland says the three latest BEE transactions approved by government form a "package deal" with the previous Mvelaphanda Resources transaction.

Randgold Resources CEO Mark Bristow reckons the group's gold production will remain with 5% of his original forecast for 2010 despite the problems at the Loulo mine in Mali.

Gold Fields has been awarded a new order mining right for South Deep but the terms of the related black economic empowerment deals show it has had to pay a high price for this.

DRDGold believes efforts to make it pay more to treat mine water containing dangerous acids was unconstitutional and that it would fight the matter vigorously.

Randgold & Exploration, which recently re-listed on the JSE after a five-year absence, has reported a massive jump in first half earnings by posting a profit of R792.8m compared to R11.1m previously.

China has given a spur to the gold market by announcing plans to allow more commercial banks in its borders to trade in gold bars.

Aurora Empowerment Systems says the Grootvlei mine would double its capacity to pump acid mine water, possibly as early as Friday.