Gilbertson, Davis set to ‘turn platinum-mining on its head’

The introduction of Mick Davis’ Xstrata and Brian Gilbertson’s Pallinghurst would turn the platinum-mining business on its head, RBC Capital Market analyst Leon Esterhuizen predicted on Tuesday. Esterhuizen said that, by their very nature, both Xstrata and Pallinghurst would redefine cost, which would put pressure on both Impala Platinum (Implats), where there is already board [...]

Kinross lowers output forecast on slower ramp-up at Paracatu

Toronto-based Kinross Gold has trimmed its production guidance for 2009, to about 2,2-million ounces of gold-equivalent, compared with a previous forecast of between 2,3-million and 2,4-million ounces. It has also hiked its cost guidance to between $435/oz and $450/oz for the full year. Read more….

Angloplat sticks to FY target despite lower Q3 output

World number-one platinum-miner Anglo Platinum (Angloplat) on Thursday reported lower third-quarter output, but said that it would still achieve its 2,4-million ounces production target for the 2009 financial year. The South Africa-based platinum company also said that it expected the price of the precious metal to trade at levels above $1 300/oz for the remainder [...]

Cluff hikes Sierra Leone gold resource to 1.1 million ounces

Cluff Gold has raised its mineral resource at the very promising Baomahun gold project in Sierra Leone to over the 1 million ounce bracket and plans scoping study for completion Q1 2010 Read more….

Xstrata raises resource estimate at its Tampakan copper-gold project

The group now says the mine, considered Southeast Asia’s largest undeveloped copper-gold prospect, is estimated to contain 13.5 million tonnes of copper and 15.8 million ounces of gold Read more….

GoldStone enters into Ghana exploration JV

Aim-listed minerals exploration company GoldStone Resources has entered into a joint venture (JV) with Ghanaian company, Cherry Hill Mining, to develop the Homase prospecting licence, in the Bekwai district of Ghana. The 115 square kilometer licence area is located within the Ashanti Gold Belt, where more than 70-million ounces of gold have been discovered, the [...]

Petropavlovsk gold production up almost 30%

The group, formerly known as Peter Hambro says it is on track to meet its full year production target of half a million ounces. Read more….

Barrick Gold Buys Chilean Mine but Still Expects Lower Production for 2009

Zacks.com submits: Barrick Gold Corporation (ABX), the largest gold mining company in the world, has entered into an agreement with Xstrata Copper Chile S.A., a wholly owned subsidiary of Xstrata Plc (XSRAF.PK), to acquire Xstrata’s 70% interest in the El Morro project for $465 million in cash. Another Canadian miner, New Gold Inc. (NGD) owns [...]

Great Basin to start trial mining at Burnstone

TSX- and JSE-listed Great Basin Gold (GBG) on Tuesday reported a 6% increase in measured and indicated resources at its Burnstone project in South Africa, where trail mining will get under way this month. The company, which also owns the Hollister project in Nevada, said that Burnstone’s total measured and indicated resource had increased from [...]

Australia’s Platina explores for gold, platinum in Greenland

ASX-listed precious metals explorer Platina Resources has completed a positive independent scoping study review of its Skaergaard gold and platinum group metals (PGMs) project, in Greenland. The completion of the study has paved the way for the next stage of evaluation and development of the multi-million ounce resource to proceed, the company said in a [...]

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