The remarks followed on the news that Franco Nevada has entered into an agreement with Normandy Mining, one of the world's top 10 gold miners. The conference in Cape Town yesterday on the catalytic properties of gold yielded some interesting prospects which could have a profound influence on demand in years to come. World gold consumption is set to increase by 300 to 400 tons a year over the next five to 10 years as a result of new industrial applications of the metal, according to Christopher Corti, head of international technology at the World Gold Council . Potential applications of the catalytic properties of gold include pollution control, improvements to processes used within the petro-chemical, and in fuel cell technology. The commercial and industrial exploitation of significant volumes of gold was likely within the next decade, Christopher Corti, the head of international technology development at the World Gold Council , said yesterday.
Diamonds are a mining house's best friend.
Judging by analyst's comments, even a downturn in the diamond cycle will not prevent companies from snapping up opportunities, even at higher prices than they would have liked to pay for the acquisitions. Australian mining house BHP is the latest company that seems to have come in at the high end of the value curve for its proposed purchase of Dia Met Minerals, a significant shareholder in Ekati, Canada's first diamond mine. Success will deliver BHP 80 percent control of the Ekati diamond mine in Canada's Northwest Territory. Iscor has welcomed a move by two major shareholders to defer a special meeting to shake up its board, saying it left it free to focus on its unbundling plans. Highveld Steel and Vanadium, an Anglo American subsidiary, warned yesterday it might not be able to maintain operations at full capacity this year because of export constraints.