R/€ = 15.73 Change: -0.10
R/$ = 13.84 Change: -0.12
Au 1281.31 $/oz Change: -12.55
Pt 794.99 $/oz Change: -8.87


Endeavour buys second silver-gold mine in Chile

20th October 2011 Endeavour Silver said on Wednesday that it has acquired a second Chilean silver-gold project, as the Canadian miner looks to build up its footprint outside of Mexico. Endeavour has optioned the Lomas Bayas silver-gold project, located some 800 kilometers (500 miles) north of Santiago, in the... 

South African stocks fall on miners

19th October 2011 South African stocks ended slightly lower on Tuesday with miners among the worst performers as growth worries in China hit industrial metal prices. But industrial firm Kap International surged on news that furniture group Steinhoff plans to swap several industrial assets for a greater stake in... 

China commodities data flags tough months ahead

18th October 2011 China's falling steel and power output in September, coupled with a meagre increase in implied oil demand, show that a year-long monetary tightening campaign and economic woes in the West have begun to pinch. A confluence of bearish factors in the fourth quarter, including a seasonal slowdown in... 

Rio's $700m tax to boost Guinea's infrastructure

17th October 2011 he government of Guinea will use 35% of a $700-million windfall from Anglo-Australian miner Rio Tinto to rebuild the mineral-rich West African nation's broken infrastructure, a Guinean official said on Sunday. Rio struck a deal with Guinea in April to settle a dispute over its stake in the... 

AuRico Gold Q3 production jumps 68%

14th October 2011 AuRico Gold said its third-quarter gold production rose 68% as two more mines of the Canadian company in Mexico became operational. The production jumped to 45 686 oz, of which 40 779 oz were sold, the Mexico-focused miner said in a statement. 

Ghana in talks with gold miners over new taxes

11th October 2011 Ghana is in talks with gold miners in the country, Africa's second-biggest producer, over additional taxes so as to benefit from the soaring price of the precious metal, the government said on Tuesday. Finance Minister Kwabena Duffuor told Reuters that the ministry was in talks with the miners... 

Cutifani says SA mines debate hurting sector – paper

10th October 2011 AngloGold Ashanti chief executive officer Mark Cutifani has said talk of mine nationalisation in South Africa is hurting investment in the sector, local Business Day newspaper reported on Monday. His comments contrast those of Minerals Resources Minister Susan Shabangu last week that there is no... 

Semafo Q3 sales rise on higher gold output

6th October 2011 Semafo Inc's third-quarter revenue jumped 19%, helped by higher gold output at its Mana mine in Burkina Faso, west Africa. Montreal, Quebec-based Semafo, which also operates the Samira Hill mine in Niger and Kiniero in Guinea, produced 61 500 oz of gold in the quarter. Mana contributed over 70%... 

Zambia lifts metal exports ban after two days

6th October 2011 Zambia has lifted a ban on metal exports just two days after imposing it to sort out irregularities and increase transparency in Africa's top cooper producer, a minerals ministry official said on Thursday. Newly elected President Michael Sata has been concerned – analysts say with good reason –... 

Kenya says LNG facility to cost about $500m

5th October 2011 Kenya expects a planned liquefied natural gas terminal to cost $500-million and take three to five years to build once it floats a tender in February 2012 as it seeks to diversify sources of electricity to meet rising demand, an energy official said on Wednesday. The LNG terminal at the port... 


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