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Reuters

Avion Gold profit falls, cuts FY11 output view

16th November 2011 Avion Gold Corp's third-quarter profit halved partly on some tax provisions and lower ore grade, and the Canadian gold miner cut its full-year production forecast for the second time in two months. For 2011, it now expects to produce 92 000 to 95 000 oz of gold, down from its prior view of 95... 

High costs, low prices hit ferrochrome

15th November 2011 South African ferrochrome makers are being squeezed by rising production costs, and some are already selling at a loss, the chief executive of Hernic Ferrochrome, a unit of Japan's Mitsubishi Corporation, told Reuters on Tuesday. Prices of ferrochrome – a key ingredient for making stainless... 

Kenyan firm plans 61 MW wind power farm

14th November 2011 Kenyan firm Kinangop Wind Park Ltd plans to generate 60.8 MW of electricity for the national grid by harnessing renewable wind power, it said on Monday. The east African nation relies heavily on hydroelectric dams for power, which have proved inefficient in times of drought. 

Crocodile Gold posts Q3 loss

11th November 2011 Crocodile Gold Corp reported a quarterly loss, hurt partly by higher costs, and lowered its production forecast for 2011. The company reported a third-quarter net loss of $6.1 million, or 2 cents a share. In the same quarter last year, it posted a net income of $2.4-million, or 1 cent a share. 

Peru region gives Freeport, workers wage deadline

10th November 2011 A one-day protest by communities in the northern region of Cajamarca on Wednesday against Newmont's $4.8-billion Conga gold project was peaceful and did not hurt mining operations, the government and the company said. Local political leaders in the northern region of Cajamarca have demanded the... 

Enel GP in solar power bid in South Africa

9th November 2011 Enel Green Power has participated in a solar power tender bid in South Africa in a joint venture with Sharp, the company's CEO said on Tuesday. "South Africa is a very interesting part of the world with a lot of potential development," Francesco Starace said in a conference call. 

Yukon-Nevada Gold Q3 loss narrows on warrants gain

7th November 2011 Yukon-Nevada Gold Corp said its quarterly loss narrowed as it gained from warrants. The company, which recorded an $8.5 million gain in warrants recorded as derivative liabilities, narrowed its third-quarter net loss to $18 million from $103.8 million a year ago. 

Agrium profit surges but shares slip

3rd November 2011 Agrium reported a more than threefold increase in its quarterly profit on Thursday on gains in its retail business, but its shares fell 2% as sales volumes at its wholesale fertilizer business were weaker than expected. Calgary-based Agrium said its retail business was lifted in the third... 

SABMiller launches first cassava beer in Africa

1st November 2011 Global beer brewer SABMiller launched its first ever cassava-based beer on Tuesday, an affordable beer category aimed at cracking the untapped home brew market in the world's poorest continent. The first Cassava beer will be brewed in Mozambique.  

AngloGold sees solid Q3 result

27th October 2011 World no.3 gold producer AngloGold Ashanti is set to report a solid third-quarter result tied to record gold prices for the September quarter, CE Mark Cutifani said on Thursday. "We've had the best ever gold price last quarter. It will be a solid outcome again," Cutifani told Reuters in an... 

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