Mining

Internal Memo Goes Public You could almost see it coming as word of an internal memo found its way to the newswires by late morning via The Australian newspaper. The memo from Iron Ore Division president Jimmy Wilson was apparently distributed to several thousand employees.  Essentially the memo was intended to make key employees aware […]

EMED Mining plc (LSE:EMED), gold and copper explorer, has acquired the last piece of land necessary to restart operations of the Rio Tinto Copper Mine in Spain for €5 million, the company said today. The purchase will be satisfied by €1 million in cash at the execution of the Sale and Purchase Agreement, announced today, […]

Gold and copper miner SolGold plc (LSE:SOLG) said today its partner, Newmont Ventures Limited, in the Guadalcanal Joint Venture in Solomon Islands will cease funding the project and will resign as manager of the exploration. Newmont Ventures, a subsidiary of NYSE-listed Newmont Mining Corporation, made the decision after having spent about US$19 million in the […]

Back in Stratford, Australia has just picked up another gold medal in the “Missing quarterly targets men’s relay event” Barry Cahill held the baton for the first 12 quarters before passing it on to Kevin Maloney who stepped in with a blinding finish to ensure that for 13 quarters in a row the AIM and ASXlisted Norseman Gold […]

Gold exploration and mining company Avocet Mining plc (LSE:AVM) said the second quarter of 2012 was a challenging period for the company, as the company revealed reduced gold production and sharp fall on profit. In its unaudited results released today, Avocet’s gold production was down 14% from last quarter’s at 32,917 ounces and 16% lower […]

The Footsie was helped along today as the share price of Antofagasta (LSE:ANTO) gained 23.00 pence to 1,095 by 12:40 UTC.  The 2.3% gain this morning may be just about enough to push the stock back above its 90-day average again.  The demonstration of investor confidence followed the company’s Production Report for the Second Quarter. […]

Tanzania-focussed gold explorer Shanta Gold Limited (LSE:SHG) has more than doubled its total gold resource from its New Luika Mine and now has 1.4 million ounces of the yellow metal with an average grade of 3.22 grams per tonne, the company said today. The new JORC-compliant report follows the exploration and infill drilling at five […]

Iron ore producer London Mining plc (LSE:LOND) has signed a deal to give 2% royalty from the sales of iron ore from its Marampa Mine in Sierra Leone in exchange for US$110 million upfront cash. BlackRock World Mining Trust plc (LSE:BRWM), a mining and metals securities-focussed investment company, is the other party to the transaction […]

Giant commodities miner Anglo American plc (LSE:AAL) acknowledged the deterioration of the world economy in the “short term prospects” as it reported huge decline in EBITDA and underlying earnings. Releasing its half year results today, the soon to be majority owner of De Beer saw a decline of 31% in EBITDA to US$4.9 billion, while […]

Construction and mining equipment maker Caterpillar Inc. (NYSE:CAT) today reported a 67% increase in its second-quarter profit, driven by increasing demand for its equipments. The Peoria, Illinois-based company also raised its outlook for the full year, sending the stock higher in early trading today.