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Jul 25, 2014
Updated 4 hours ago The introduction of a strike ballot process as suggested by Deputy President Cyril Ramaphosa would be a great step forward for industrial relations in South Africa, Anglo American CEO Mark Cutifani said on Friday. Cutifani was responding to a question Rothschild...
Jul 25, 2014
Updated 4 hours ago Rand Refinery has secured a “precautionary” R1.2-billion irrevocable, subordinated loan facility from its shareholders. The gold refiner on Friday revealed that this had followed implementation difficulties after it, last year, adopted a new enterprise resource...
Jul 25, 2014
The World Gold Council’s (WGC’s) supplementary ‘all-in’ cost metrics have helped gold miners to provide more external transparency regarding their cost reporting, while the metrics have enabled them to internally drive change by equipping employees to make...
Jul 25, 2014
Platinum miner Lonmin, which is currently producing at 30% of normal monthly capacity following the end of the five-month-long strike by members of the Association of Mineworkers and Construction Union (AMCU), expects to increase output to 80% of normal capacity by...
Jul 25, 2014
Despite the headwinds faced by diversified miner Anglo American during the first half of the year, the group had delivered a “pleasing” performance at all its operations barring platinum. Anglo American CEO Mark Cutifani on Friday said the group posted 3% higher...
Jul 25, 2014
Updated 5 hours ago London-listed gold producer African Barrick Gold (ABG) reported a net profit of $41-million for the six months ended June 30, driven by increased production and continued cost discipline. ABG CEO Brad Gordon pointed out that the company had now achieved its seventh...
Jul 25, 2014
Updated 4 hours ago Gold miner DRDGold on Friday announced that its 74%-owned subsidiary Ergo Mining Operations would sell the underground mining and prospecting rights held by East Rand Proprietary Mines (ERPM), as well as certain other assets on relating mining areas, to ERPM South...
Jul 25, 2014
Updated 7 hours ago The company operating the gold price 'fix' has appointed a supervisory committee to oversee the century-old system of benchmarking gold prices ahead of the implementation of stricter regulations, its website showed on Friday. The London Gold Market Fixing Ltd's new...
Jul 25, 2014
Jul 25, 2014
Jul 25, 2014
Jul 25, 2014
 
 
 
Jul 25, 2014
Mineral sands miner Base Resources has ramped up production at its Kwale mineral sands project, in Kenya, to 141 753 t during the three months to June, after project commissioning was completed in the March quarter. In the March quarter, the Kwale project delivered...
Jul 25, 2014
Updated 3 hours ago Gold producer AngloGold Ashanti’s closure of its Yatela mine, in Mali, and the ongoing restructuring at its Obuasi mine, in Ghana, would likely drag down earnings for the second quarter. AngloGold embarked on the implementation of a range of interventions to deal...
Jul 25, 2014
Updated 5 hours ago Gold miner Sibanye Gold on Friday said its earnings per share (EPS) for the six months ended June 30, were expected to be between 65c and 75c, while headline earnings per share (HEPS) was expected to be between 75c and 85c, based on an estimated 772.7-million...
Jul 25, 2014
Diversified mining major Anglo American has reached a binding agreement for the £885-million sale of its 50% interest in the Lafarge Tarmac joint venture (JV) to cement producer Lafarge. Lafarge Tarmac, formed in January 2013, is a 50:50 JV between Lafarge and Anglo...
Jul 25, 2014
Updated 28 minutes ago Gold producer Veris Gold was this week granted provisional relief under Section 1519 of the US Bankruptcy Code in the United States. As of as of Wednesday, the ruling recognised the Canadian proceeding of the Companies' Creditors Arrangement Act (CCAA) and as a...
Jul 25, 2014
Updated 1 hour 46 minutes ago TSX-listed Fortune Minerals this week reported attractive financial indicators resulting from a preliminary economic assessment (PEA) undertaken on its recently acquired Revenue Silver mine, in south-west Colorado. The London, Ontario-based company on Thursday...
Jul 25, 2014
Updated 2 hours 39 minutes ago Miners would need to radically transform their business models if they wanted to reverse the decade-long decline in productivity, a new report by professional services firm EY had found. ‘Productivity in mining: A case for broad transformation’ described the...
Jul 25, 2014
India's new government has approved the sale of its residual stakes in Hindustan Zinc Ltd and Bharat Aluminium Co (BALCO), Finance Minister Arun Jaitley said on Friday. The government owns 29.5% of Hindustan Zinc and 49 percent of BALCO. Both the companies are...
Jul 25, 2014
Gold production at Silver Lake Resources has nearly halved during the quarter ended June, as the Murchison mine, in Western Australia, only processed stockpiles and the Maxwells openpit mine, at Mount Monger, wrapped up mining operations in June. During the quarter...
Jul 25, 2014
The life of mine extension at the Northparkes copper/gold mine, in New South Wales, has been approved by the federal and state governments, the operating arm of China Molybdenum said on social media. China Molybdenum acquired an 80% shareholding in the project from...
 
 
 
 
Jul 25, 2014
ASX-listed Pilbara Resources has raised A$2.6-million through a share purchase plan (SPP) to advance the Tabba Tabba tantalum project, in Western Australia. The junior miner said on Friday that the SPP, which had closed on July 23, had raised A$1.3-million,...
Jul 25, 2014
ASX-listed gold miner Kingsgate Consolidated has reported record production for the full year ended June on the back of a strong fourth quarter. The miner said on Friday that it had delivered 55 450 oz of gold during the three months to June, up from the 48 725 oz...
Jul 25, 2014
ASX-listed junior Chesser Resources was mulling the sale of its Kestanelik gold project, in Turkey, to Turkish company Nurol Holdings for $40-million. The company has inked a letter of intent to divest of the mining licenses, ancillary permits and other assets...
Jul 25, 2014
World No 1 copper producer Codelco submitted to Chilean environmental authorities changes to its controversial Andina project that it said would reduce the mine's potential impact on nearby glaciers and water supply. State-owned Codelco, which produces about 10% of...
Jul 25, 2014
Brazilian miner Vale said on Thursday its iron ore output in the second quarter was a record high for the period, up 12.6% from a year earlier, as it ramped up production to win back market share from Australian rivals. Vale's preferred shares, the company's most...
Jul 24, 2014
After a quiet first quarter, mergers and acquisitions (M&A) activity in Canada accelerated in the second quarter, according to professional services firm PwC's 'Capital Markets Flash' report. The second quarter saw 748 deals with a total value of C$45.8-billion in...
Jul 24, 2014
Platinum miner Impala Platinum (Implats) on Thursday warned that its earnings a share (EPS) and headline earnings a share (HEPS)  for the 2014 financial year would be more than 20% lower than those of the prior year. The five-month strike by members of the...
Jul 24, 2014
Cabinet approved the five-year Medium-Term Strategic Framework (MTSF) of government on Wednesday, which would serve as the “building block towards the 2030 vision in the National Development Plan (NDP)”. The MTSF, which covers the period 2014 to 2019, reportedly...
Jul 24, 2014
Article contains comments
Trade and Industry Minister Dr Rob Davies has re-emphasised government’s commitment to the creation of a viable local minerals beneficiation industry, saying the country could establish a competitive advantage in global markets by leveraging that fact that minerals...
Jul 24, 2014
Mineral Resources Minister Advocate Ngoako Ramatlhodi on Thursday officially launched the drill operation for South Africa’s first offshore deep-water well, south of Mossel Bay. The well, which would be operated by petroleum company Total, gave impetus to South...
 
 
 
 
Jul 24, 2014
Jul 24, 2014
Canadian diversified miner Teck Resources reported a 44% drop in quarterly earnings, mainly due to "significantly" lower coal prices. Teck said coal prices fell to $111/t in the second quarter from $156/t a year earlier. The company said it sold 6.8-million tonnes...
Jul 24, 2014
Caterpillar on Thursday reported higher-than-expected second-quarter earnings as a rebound in sales to builders offset a continued slump in the mining sector. The company, the world's largest maker of earth-moving equipment, posted a second-quarter profit of...
Jul 24, 2014
Brazilian steelmaker Usiminas on Thursday reported a lower-than-expected quarterly profit as iron-ore prices fell and flat steel demand faltered. Usinas Siderúrgicas de Minas Gerais, as the company is formally known, posted second-quarter net income of 129-million...
Jul 24, 2014
Low-cost platinum-group metals (PGM) processor Sylvania Platinum produced 53 808 oz of PGMs in the 2014 financial year, beating its forecast of 51 000 oz. Output for the year also represented a 22% increase on the 44 095 oz produced in the previous financial year.
Jul 24, 2014
Deputy President Cyril Ramaphosa
South Africa should adjust labour laws so union members have to vote before striking, Deputy President Cyril Ramaphosa said on Thursday, suggesting the government may push ahead with reforms to curb damaging industrial action. The longest and costliest strike in...
Jul 24, 2014
Strong operational results and marginal cash cost increases during the quarter ended June 30 had kept Aquarius Platinum broadly cash neutral; however, the platinum group metals (PGM) price basket would need to rise for the dual-listed group to offset the agreed wage...
Jul 24, 2014
Jul 24, 2014
Indonesia will soon allow US miner Freeport-McMoRan Copper & Gold Inc to resume copper exports, with both sides close to ending a six-month dispute over new mining rules, a senior official said on Thursday. However, there has been no such progress between the...
Jul 24, 2014
Gold junior Beadell Resources has reported a drop in gold production during the June quarter, compared with the previous quarter, as rainfall affected the company’s Tucano operations, in Brazil. During the three months to June, gold production declined to 28 211...
 
 
 
 
Jul 24, 2014
The directors of ASX-listed Robust Resources have implored shareholders to take no action regarding an increased takeover bid from Stanhill Capital Partners Holdings, after the firm reported that it had acquired a 19.9% interest in the metals developer. Earlier this...
Jul 24, 2014
A prefeasibility study (PFS) into ASX-listed junior Exterra Resources’ Second Fortune underground mine, at the Linden gold project in Western Australia, has proven positive. The PFS estimates that the mine could produce about 56 6000 oz of gold over a...
Jul 24, 2014
Iron-ore miner Atlas Iron is targeting production of 13-million tonnes during the 2015 financial year, MD Ken Brinsden said on Thursday, also revealing that the company would undertake a cost-cutting initiative to save between A$50-million and A$80-million a year....
Jul 24, 2014
ASX-listed gold miner Norton Gold Fields has reported an increased gold production during the three months ended June, with the miner producing 42 324 oz of gold. This was up from the 38 600 oz of gold produced in the previous quarter.
Jul 24, 2014
Gold major Newcrest Mining on Thursday warned of a possible combined asset impairment of between A$1.5-billion and A$2.5-billion at its Lihir, Telfer and Bonikro assets during the full year ended June. This was in addition to the A$47-million after tax impairment of...
 
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