Mining

A disappointing first half report, including a dismal forecast for the balance of the year, drove the share price of the Eurasian Natural Resources Corporation Plc (LSE:ENRC) down 29.50 pence from 414.70 to 385.20 this morning, a 7.11% decline.  Except for the past three weeks, the stock has experienced almost constant decline since mid-January when […]

Like most AIM (and in this case also Toronto) listed smaller gold companies the share price of Cluff Gold (LSE:CLF) has taken a beating of late – falling by almost 50% to 55p. While many of its peers may have to raise extra cash – hence their share price collapse – Cluff has already completed […]

It’s one thing to say that a company is in trouble.  It’s quite another to say that people are being killed.  Nine people have died since 10 August at a mine operated by Lonmin (LSE:LMI) in South Africa.  Lonmin’s share price was down 35.00 pence to 706.00, a decline of 4.72%.  Lonmin’s share price has […]

West Africa-focussed gold producer, Cluff Gold plc (LSE:CLF), expects to update its resource by the fourth quarter of 2012 once it completes its drilling programme at their Yaoure project in Côte d’Ivoire (Ivory Coast), the company said today. The statement was made by the firm’s Chief Executive, Peter Spivey, along with the update of the […]

UPDATED: Metals explorer Caledonia Mining Corporation (LSE:CMCL) disclosed an increase in gold production as well as gold recovery from its Blanket Mine in Zimbabwe, partially offsetting the decline in average realised gold price, during the second quarter of the 2012. In a statement, Caledonia said it sold 11,560 ounces of gold for the April to […]

Britain’s largest coal producer UK Coal plc (LSE:UKC) has reached an agreement in principle with its key economic stakeholders to restructure the business after the first half of the year showed a “disappointing performance”, the company said today. In a statement, Chairman Jonson Cox said “a restructuring of the business was necessary to secure a […]

Randgold (LSE:RRS) took the opportunity to thump its chest today as it reported second quarter results that were, quite frankly, golden.  Regulatory reports are usually quietly reserved as though they had been prayed over before leaving the bean-counters’ offices.  Randgold’s report begins with a headline that says “RANDGOLD FIRES ON ALL CYLINDERS TO DELIVER ANOTHER […]

Iron ore producer Bellzone Mining plc (LSE:BZM) has signed an offtake agreement with commodities giant Glencore International plc (LSE:GLEN) to supply all its iron ore produce in Guinea, the company said today. In a statement, the company said all of its 50% share in the Forecariah Joint Venture (FJV) project in the West African country […]

Lower commodity prices coupled with the uncertainty in Europe and the United States have hit another heavy trader of metals as the world’s second largest mining firm, Rio Tinto Group (LSE:RIO), reported a reduction of a more than a fifth of its profit for the first half of the year. Rio Tinto said it made […]

West African diamond miner and producer Stellar Diamonds (LSE:STEL) said today its initial samples from the Droujba Project in Guinea exceeded expectations in both grade and quality and plans to upgrade its resource by the fourth quarter of 2012. According to the company, about 173 carats at an average grade of 188 carats per hundred […]