R/€ = 16.29 Change: -0.18
R/$ = 14.41 Change: -0.24
Au 1238.52 $/oz Change: -7.37
Pt 787.61 $/oz Change: -16.28


Endeavour Silver finds high-grade zones at Mexico mine

13th December 2011 Canadian miner Endeavour Silver said it has discovered two high-grade silver/gold zones at its Guanajuato mine in Mexico and expects a substantial increase in reserves and resources at the mine at the year-end. Vancouver-based Endeavour also said it expects to expand its mine capacity at... 

Marubeni sees global aluminium deficit in 2013

13th December 2011 The global aluminium market will swing into a deficit of 357 000 t in 2013 with the Chinese market dipping into a wider deficit of 500 000 t during the year, as supply growth from China, Middle East and other emerging economies will slow, Marubeni, said on Tuesday. Marubeni, Japan's... 

Miner Baobab seeks partner for Mozambique project

10th December 2011 Iron ore and metals explorer Baobab Resources said it was looking for a strategic partner to help finance its Tete project in Mozambique, which could start producing iron ore, pig iron and titanium concentrate from 2015. The move comes at a time that medium and smaller miners are looking to... 

Rio proposes transporting Guinea ore by road

8th December 2011 Rio Tinto has proposed to the government of Guinea on Wednesday to start transporting iron ore from its Simandou project by trucks in 2015, while waiting for a planned railway so as to honour delivery contracts. "We have proposed this option in order meet the terms of agreements which provides... 

Teranga Gold sees lower gold output at Senegal mine

8th December 2011 Teranga Gold Corp said it expects to produce less gold than previously planned for the year as drill and loading availability issues hit access to high grade zones at its Sabodala Gold mine in Senegal, West Africa. Teranga now expects yearly production at 130 000 to 135 000 oz of gold, down from... 

Anglo American names new Iron Ore Brazil boss

7th December 2011 Global miner Anglo American has replaced the head of its Brazilian iron ore operations, a key growth area for the group that has suffered from cost overruns and delays, naming its commercial director as chief executive. Anglo said Paulo Castellari, currently the commercial director of Iron Ore... 

Peru detains leaders of protests over Newmont mine

7th December 2011 Peru's counterterrorism police on Tuesday detained two leaders of protests that have stalled Newmont Mining's $4.8-billion Conga gold mine project, in a widening crackdown by President Ollanta Humala. Wilfredo Saavedra, the leader of the Environment Defense Front of Cajamaraca, and Milton... 

Xstrata eyes benefits from global copper supply woes

6th December 2011 Xstrata, the world's fourth-largest copper miner, expects to benefit from supply troubles hitting the metal globally, it said on Tuesday, as it reported increased resources and said its own key projects were on track and on schedule. A drastic fall in output at Chile's Escondida, the world's... 

Chinese firm begins Zimbabwe diamond sales

6th December 2011 Chinese-owned Anjin Investments has started selling its two-million carats of stockpiled diamonds mined in Zimbabwe after global gem regulator Kimberley Process allowed the firm last month to begin exports, State media reported on Tuesday. The Kimberley Process last month paved the way for... 

China Steel, Vale agree 23% iron-ore price cut-source

6th December 2011 Taiwan's China Steel has agreed a 23% cut in iron-ore prices for October-December versus June-August with Brazilian miner Vale, a source with direct knowledge of the deal said on Tuesday. The steep price cut follows a 31% slump in spot iron-ore prices in October, which prompted steel mills to... 


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