Sunday, August 14, 2016

HudBay announces restart of Manitoba mine, concentrator

October 30, 2009 by · Leave a Comment 

TSX-listed Hudbay Minerals will restart its Chisel North mine and concentrator in Snow Lake, Manitoba, effective immediately, at a capital cost of about C$7-million, the company announced on Friday. The operations will ramp up to full production, likely by the second quarter of 2010, and will provide some 30 000 t/y of zinc concentrate feed [...]

Second Take: Coal is still king

October 30, 2009 by · Leave a Comment 

The increasing need for coal mines in South Africa. Read more….

Gold Continues Decline for Day Five, Stocks Tumble

October 29, 2009 by · Leave a Comment 

Gold ended slightly lower Wednesday, marking the fifth consecutive day the yellow metal has declined. Again cited as the catalyst for the loses was a rallying US dollar. Silver and platinum also fell, as did crude oil which plunged 2.6 percent. US stocks followed along, with the three major indexes tumbling between 1.2 percent and [...]

Gold Drops for Fourth Day, Silver Plunges, Stocks Mixed

October 29, 2009 by · Leave a Comment 

New York gold futures ended lower Tuesday for the fourth straight day as the US dollar advanced on news of a decline in consumer confidence. Silver was hit exceptionally hard for the second straight day, falling more than 3 percent. Platinum declined as well. In other markets, crude oil finished 1 percent higher and US [...]

Implats offers Khotso Mokhele the chair

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest platinum miner, Implats, on Thursday offered the position of chairperson of the board to incumbent non-executive director Dr Khotso Mokhele. The overture to Mokhele follows the acrimonious sacking of Dr Fred Roux. Implats said in a Stock Exchange News Service announcement that it would consider Mokhele appointment as its new chairperson at [...]

SA rail utility, manganese miners mull 12Mt/y export channel ‘partnership’

October 29, 2009 by · Leave a Comment 

State freight logistics group Transnet, in consultation with manganese exporters, expects to decide within the "next four to five months" whether to develop a new export channel through the deep-water harbour at Saldanha Bay, on South Africa’s West Coast, or to proceed with an alternative model involving ports on the country’s eastern seaboard. CEO Chris [...]

Rand strong for next 12-18 months – Gold Fields

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest gold producer, Gold Fields, said on Thursday that it expected the rand to remain strong for the next 12 to 18 months. "We’ve made peace with the rand being where it is and we are structuring our business around current levels," Gold Fields CEO Nick Holland said. He said that Gold Fields [...]

Gold Fields hoping to build second Andes gold mine

October 29, 2009 by · Leave a Comment 

South Africa’s second-largest gold-miner Gold Fields may build another gold mine in the Andes, this time 5 000 m up. The Chucapaca, in southern Peru, is at an advanced stage of drilling and Gold Fields hopes to have a scoping study out by June 2010. Gold Fields earlier this year fully commissioned its Cerro Corona [...]

SNR aims to start large-scale coal sales by mid-2010

October 29, 2009 by · Leave a Comment 

Strategic Natural Resources (SNR), which owned 74% of South Africa’s Elitheni Coal, had achieved its first revenues from coal sales and had made “significant progress” towards starting large-scale coal sales by the second half of 2010. SNR CEO Richard Latham on Thursday noted in a statement to shareholders that the Aim-listed company had continued to [...]

China Investment Corp to invest $700m in second Mongolian mining deal this week

October 29, 2009 by · Leave a Comment 

The deal, with Hopu-backed Iron Mining, represents the Sovereign Wealth Fund’s determination to move from financials into mining. Read more….

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