Amidst OPEC Drama, Solar is to Silver What Ethanol Is to Corn
June 30, 2011 by goldguru · Leave a Comment
The state of global affairs has never been in such disarray. Major governments are going bankrupt, inflation is running rampant in a majority of the countries that line the planet, and relationships between nations have never been so heated.
Gama puts his weight behind Coega manganese export channel
June 30, 2011 by goldguru · Leave a Comment
South Africa’s new deep-water harbour Ngqura, in the Eastern Cape, is the logical choice for any large-scale expansion of South Africa’s manganese exports, Transnet Freight Rail’s (TFR’s) newly reinstated CEO Siyabonga Gama argues.
He acknowledges that the manganese miners have expressed a preference for expanding the Sishen-Saldanha channel to a two commodity line, involving both iron-ore and manganese.
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Eastplats to ‘vigorously’ defend proposed lawsuit
June 30, 2011 by goldguru · Leave a Comment
Vancouver-based Eastern Platinum intends to “vigorously” defend a proposed class action lawsuit, the company said on Thursday.
Law firm Siskinds LLP filed a notice of application earlier this week for a proposed suit against Eastplats and three of its directors, alleging that the company failed to disclose “material changes” at its flagship Crocodile River mine in South Africa.
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Furnance conversions to boost Assmang output to 375 000 t/y
June 30, 2011 by goldguru · Leave a Comment
South African ferroalloys producer Assmang said on Thursday that it would covert the Machadodorp ferrochrome works’ No 2 and No 3 furnaces to produce high-carbon ferromanganese, which would increase it production by 100 000 t/y, bringing its total capacity to 375 000 t/y. This, the company said, followed on from the successful conversion of the No 5 Furnace from the production of charge chrome to high-carbon ferromanganese.
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Randgold starts relocations to make way for new Kibali gold mine
June 30, 2011 by goldguru · Leave a Comment
LSE- and Nasdaq-listed gold miner Randgold Resources has started relocating people living on what will become the mine site for the new Kibali gold mine, in the Democratic Republic of Congo (DRC).
The first of 14 villages has started moving to the new Kokiza resettlement village, which will include 3 700 newly built houses.
IDC says R22bn to be invested in mining over five years
June 30, 2011 by goldguru · Leave a Comment
South Africa’s mining industry would receive a large portion, some R22.2-billion, of the R102-billion of funding being made available by the Industrial Development Corporation (IDC) over the next five years. Despite funding for mining being considerably lower for the financial year ended March 31, compared with previous years, CEO Geoffrey Qhena said on Thursday that extracting value from, and supporting downstream beneficiation would be a stronger focus for the State-owned development finance institution in future.
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TanzaniteOne to change its name to Richland Resources
June 30, 2011 by goldguru · Leave a Comment
Aim-listed gemstone miner TanzaniteOne said on Thursday that it planned to change the company’s name to Richland Resources.
The proposed name change would be decided on at TanzaniteOne’s yearly general meeting on August 1 in Bermuda.
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Cameco shops for uranium, eyes Africa
June 30, 2011 by goldguru · Leave a Comment
Canadian uranium producer Cameco is shopping for development-stage uranium projects and will consider opportunities in Africa, the company’s incoming chief executive told Reuters on Wednesday.
Cameco is "scouring the world" for mines that could be in production within 10 years, said Tim Gitzel, who will take over the top job at the company on Friday.
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Zambia’s KCM says completes sinking of new shaft
June 30, 2011 by goldguru · Leave a Comment
Konkola Copper Mines (KCM), owned by London-listed Vedanta Resources said on Thursday that it had completed the sinking phase for the new shaft 4 at its flagship deep mining project.
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It said in a statement that the project should lift its total finished copper production to 400 000 t from 173 000 t in the next few years.
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Vale boosts Moatize 2011 coal output estimate 76%
June 30, 2011 by goldguru · Leave a Comment
Brazilian mining giant Vale on Wednesday raised its initial production target for the Moatize mine in Mozambique by 76% and expects to quadruple that result in 2012.
Moatize, the Southern Hemisphere’s largest coal project, is expected to produce 1.5-million tons in 2011 and output will rise to 6.3-million tons in 2012, sales manager Marcelo Matos said during an industry conference in Rio de Janeiro.
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