GOLD 1304.45 $/ozChange: 1.93
PLATINUM 1488.50 $/ozChange: 0.00
R/$ exchange 10.56Change: -0.04
R/€ exchange 14.19Change: -0.07
 
We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
         
close notification
powered by
Advanced Search
 
 
 
 
 
 
Home
 
Multimedia
 
Latest
 
 
 
Daily podcast – January 29, 2009
PRINT
 
podmw_29012009
 
Embed Code Close
content
 
29th January 2009
TEXT SIZE
Text Smaller Disabled Text Bigger
 

This podcast is brought to you by Ukwazi - Bringing relevant mining engineering consultancy services to dynamic industry.

Thursday, January 29, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

On Wednesday, the world's third-largest platinum producer, Lonmin, reported lower first quarter production figures. The company also announced that its chairperson, John Craven, would retire.

Lonmin stated that the PGM pricing environment had remained challenging in the first quarter of the 2009 financial year and would remain so in the short-term.

However, the London and Johannesburg-listed miner said that it remained committed to its sales and cost guidance for the 2009 financial year.


Canada's Barrick Gold, the world's top gold producer, has closed its Kainantu mine in Papua New Guinea.

The move comes 13 months after Barrick bought the mine from Australia-listed Highlands Pacific for $141,5-million in hopes of tapping more of the South Pacific island nation's vast undeveloped mineral wealth.

The mine was being placed on care-and-maintenance pending a view of its long-term viability.

Barrick had long been disappointed with the low grading of the gold-bearing ore at the mine.


Also making headlines:

Ferrochrome producer Merafe Resources says its 2008 profit could reach R1,1-billion.
The government of Kazakhstan will offer miners tax cuts to avoid layoffs.
TSX-listed Atna Resources expects its first gold production in April at its Californian mine.
And, Australia-based Riversdale Mining appoints a law expert to its board.

That's a round up of news making headlines today. For more on these and other stories please visit miningweekly.com.

 

Edited by: Shannon de Ryhove

 

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.

FULL Access to Mining Weekly and Engineering News - Subscribe Now!
Subscribe Now Login