Mining

Switzerland-based commodities giant Glencore (LSE:GLEN) International more than doubles its basic earnings per share (EPS) as it revealed its 2011 full year results, its last time to report before merging with global mining company Xstrata. Glencore, which became public in May last year, saw its Basic EPS jump 106% from US$0.35 to US$0.72, resulting from […]

The world’s third largest gold producer, AngloGold Ashanti (LSE:AGD) posted huge gains for the 2011 fiscal year with the balance sheets much healthier than the last, even taking into account a weaker last quarter. Shareholders will receive a final dividend of 200 South African cents per share for the last quarter, more than the combined […]

Anglo American plc, South Africa’s largest employer and one of the world’s largest mining companies, added a further US$443 million of underlying earnings from its’ De Beers holdings. The announcement was made after De Beers posted US$968 million for the full year ending 31st December 2011. Anglo American holds 45% majority interest in the unquoted Luxembourg-based diamond producer...

Diamond mining and development company Firestone Diamonds (LSE:FDI) recovered three 100-carat diamonds from its’ 75% owned Liqhobong Mine in Lesotho. The three large 100-carat diamonds indicated an increase in higher clarity diamonds being recovered in the mine which has recently been producing than the budgeted grades of 38-carat per hundred tonnes and 115% mine call […]

Glencore International and Xstrata announced  a “merger of equals” to create a major natural resources group to form a combined market equity of market value of US$90 billion. The merger, according to Ivan Glastenberg, Chief Executive Officer of Glencore (LSE:GLEN) and a Non-Executive Director of Xstrata, will create a “new powerhouse in the global commodities […]

Ferrex Plc (LSE:FRX) published a Resource Drilling update on its operations in Africa prompting a share price increase of 18.07% on volume of 4,005,513 by late-morning trading. Update on Operations Dave Reeves, Ferrex Managing Director, summarised the positive report saying that two projects in particular, the Nayega Manganese Project in Togo and the Malenane Iron […]

Iron ore producer London Mining (LSE:LOND) sends off its’ first ship loaded with 49,656 wet metric tonnes (“wmt”) of iron ore from their Marampa Mine in Sierra Leone, which is bound for Europe. This is the first of the three shipments scheduled to deliver London Mining’s produce, with the second ship bound for China and the third to be provided to Glencore, […]

Anglo American (LSE:AAL), one of the world’s largest mining companies, today said its production of iron ore and copper shot up in the fourth quarter of 2011.   However, the company said its’ diamond and platinum production lowered during the same period. How the metals performed The globally diversified miner reported a 5% increase in iron […]

West African Minerals Corporation (LSE:WAFM) today announced it would let go of its wholly owned subsidiary Ferrum Centrafrique to AXMIN Inc., the Canadian-based gold exploration and mining company. Ferrum Centrafrique is legally registered in the Central African Republic and it has built a portfolio of iron ore assets in Africa. Reasons for the disposal Ferrum […]

Shares of gold explorer and producer Pan African Resources (LSE:PAF) are trading 8.1% higher than yesterday’s close to 16.75 pence after the company released Wednesday its earnings per share (EPS) topped 83% more than last year’s 0.55 pence for the six month period ending 31 December 2011. Headline earnings per share reached 93% higher than the previous […]