Tuesday, July 23, 2013

Rio Tinto doubles 2010 capex to at least $5bn

October 30, 2009 by · Leave a Comment 

Global diversified miner Rio Tinto has doubled its planned capital expenditure (capex) for 2010 from the previously anticipated $2,5-billion to between $5-billion and $6-billion. The miner had previously expected to reduce its capex to a sustaining level of $2,5-billion, but said on Friday that it would now spend at least $5-billion in capex in 2010, [...]

Rio Tinto to double capex spending next year to at least $5bn

October 30, 2009 by · Leave a Comment 

The group said the decision was taken after seeing signs of economic recovery and a decrease in its debt levels Read more….

CoAL of Africa to buy NuCoal

October 29, 2009 by · Leave a Comment 

South Africa-focused coal-miner Coal of Africa Limited (CoAL) plans to raise £59,6-million to fund a proposed R650-million acquisition of NuCoal Mining, to accelerate capital expenditure (capex) at its Vele and Makhado projects, and to pursue other smaller acquisitions, it announced on Thursday. The ASX-, Aim- and JSE-listed coal-miner would place up to 59,8-million new ordinary [...]

Platinum Group unveils updated feasibility study: output up, capex down

October 9, 2009 by · Leave a Comment 

TSX- and Amex-listed Platinum Group Metals (PTM) has completed an independent update for its Western Bushveld Joint Venture Project 1 platinum mine, in South Africa, and now expects to produce 275 000 oz/y of platinum group metals and gold, compared with a previous forecast of 250 000 oz/y, the company announced on Thursday. Production of [...]

Australia Q1 mining capex falls 1,2%

May 28, 2009 by · Leave a Comment 

Australia’s mining industry capital spending fell 1,2% in the first quarter of 2009 as companies trimmed development plans in response to deteriorating demand for raw materials as the world slid into recession. The nation’s offical statistics bureau said capital spending in the sector fell to A$8,5-billion ($6,68-billion) in the March quarter. The fall was far [...]