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By: Esmarie Swanepoel Updated 14 minutes ago Gold major Newcrest Mining has reduced its shareholding in fellow-listed Evolution Mining from 32.3% to 14.9% in an overnight sell-down of shares. The sale was priced at 85c a share, generating proceeds of some A$106-million, which Newcrest would use to repay debt. →
By: Esmarie Swanepoel Updated 16 minutes ago ASX- and TSX-listed gold miner Troy Resources has reported a 22% increase in revenues for the half-year ended December, on the back of a higher gold output. The miner on Friday noted that gold equivalent production during the interim period reached 65 014 oz, compared with the 60 334 oz produced... →
By: Esmarie Swanepoel Updated 34 minutes ago Gold miner Beadell Resources on Friday reported a $100-million drop in net profit after tax for the financial year ending December, with higher costs of production, a foreign exchange rate loss and tax liabilities negatively impacting the company’s financials. Net profit after tax for the full... →
By: Esmarie Swanepoel Updated 37 minutes ago Junior developer Iron Road has increased the mineral resource estimate at its Central Eyre iron project, in South Australia, by 22%, to some 4.5-billion tonnes, grading 16% iron. The ASX-listed company noted that some 3.5-billion tonnes, or 77% of the mineral resource was classified as measured... →
By: Esmarie Swanepoel Updated 46 minutes ago Swiss-listed mining major Glencore on Friday announced that it would reduce its Australian coal exports by some 15-million tonnes in 2015, to align output with current customer demand. The decision to decrease coal exports from Australia followed the miner’s move in December of last year, when... →
By: Esmarie Swanepoel Updated 48 minutes ago Diversified giant Rio Tinto on Friday announced that it would streamline its business, condensing its assets into four product groups namely; aluminium, copper and coal, diamonds and minerals, and iron-ore. The miner said that the new copper and coal product group would bring Rio’s coal... →
By: Esmarie Swanepoel Updated 1 hour 35 minutes ago The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a... →
By: Creamer Media Reporter Updated 1 hour 35 minutes ago This week: Sibanye eyes a R3-billion, 150 MW solar power station. DRDGold lifts its output 6% despite 67 hours of load shedding in December. And, the International Council for Mining & Metals says mines are the development engines for host countries. →