R/€ = 16.60 Change: 0.04
R/$ = 14.32 Change: 0.05
Au 1229.55 $/oz Change: 1.86
Pt 844.50 $/oz Change: 0.96


Over 60 miners dead in Congo shaft collapse – officials

16th August 2012 At least 60 miners were killed when a shaft collapsed in a remote part of northeastern Democratic Republic of Congo, where local armed groups complicated rescue efforts, officials said on Thursday. The local miners were digging for gold in shafts up to 100 m (109 yards) underground when the... 

Striking platinum miners confront SA police

15th August 2012 Thousands of striking miners armed with machetes and sticks faced off with South African police on Wednesday at Lonmin's Marikana mine after it halted production following the deaths of 10 people in fighting between rival unions. Lonmin, the world's third-largest platinum producer, has... 

Tiny Australia town wants A$100m for hosting Xstrata coal mine

10th August 2012 An Australian hamlet is asking Xstrata to pay it at least A$100-million if the global mining giant decides to proceed with a multi-billion coal mine in the area. Wandoan, home to just 380 people, is one of a growing number of small towns that risk being overwhelmed by Australia's fast-paced... 

SA coal prices rebound to highest since June

8th August 2012 South African physical coal prices rebounded on Wednesday to the highest level since a short-lived rally in June, lifted by strikes in Colombia that constrained supply, traders said, with a trade at $91.05/t for a September cargo on globalCOAL. Prompt cargo values were bid strongly higher... 

Kenya Power gets $200m from World Bank for grid

8th August 2012 Kenya Power has secured a $200-million loan from the World Bank's International Finance Corporation (IFC) to invest in its grid, it said on Wednesday. The firm is the sole transmission and distribution utility in east Africa's largest economy, where blackouts are common due to generation... 

Tanzania asks Malawi to halt oil search in disputed lake

30th July 2012 Tanzania has asked Malawi to stop oil and gas exploration activities in Lake Malawi until a border dispute between the two countries involving the lake is resolved, a Tanzanian official said on Monday. Last October, Malawi said it had awarded oil exploration licences to UK-based Surestream... 

Some workers protest at Chile's Andina mine, output unaffected

16th July 2012 A protest by some subcontracted workers delayed a shift change on Monday morning at Chile's Andina copper mine, owned by state giant Codelco, but the company said it did not affect production. The workers, who are on strike to demand the same benefits that staff employees receive, blocked an... 

SA in talks to get Iran to insure oil cargoes

10th July 2012 South Africa is talking to Tehran about the prospect for Iran to insure its crude oil cargoes, which can no longer be underwritten by European insurance firms due to sanctions, Energy Minister Dipuo Peters said on Tuesday. Peters said Deputy Foreign Minister Ebrahim Ebrahim had met his Iranian... 

Aussie taxes worry AngloGold more than nationalisation

5th July 2012 Australia's tax policies are more of a worry to major gold producer AngloGold Ashanti than calls within South Africa's ruling party to nationalise mines and impose more duties, CEO Mark Cutifani said on Thursday. Cutifani, who runs the South African firm which is the world's third largest gold... 

Avion Gold to resume mill expansion, shares up

4th July 2012 West Africa-focussed gold miner Avion Gold Corp said it expects to resume expansion at its Tabakoto mine in Mali and raised its production forecast for the year, sending the company's shares up as much as 12 percent. Avion said Mali's political situation has stabilized and it expects mill... 


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