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Aquila Resources closes $20.75m financing

By: Henry Lazenby     Updated 37 minutes ago TSX- and Frankfurt-listed Aquila Resources has closed a private placement and a silver purchase agreement for total funding of $20.75-million with Orion Mine Finance. The development-stage company, which was focused on developing the 100%-owned Back Forty gold/zinc project, in Michigan's Upper... 

Iamgold in talks to buy AngloGold's stakes in two Mali mines

By: Reuters     Updated 52 minutes ago Canadian gold miner Iamgold is in talks with AngloGold Ashanti on buying AngloGold's stakes in two gold mines in Mali in which they are partners, Iamgold said late on Tuesday. Iamgold and AngloGold each own 41% of the Sadiola mine in southwestern Mali. The two miners also each own a 40% stake in... 

Goldcorp’s Éléonore declares commercial production

By: Henry Lazenby     Updated 1 hour 8 minutes ago The world’s largest gold miner by market capitalisation Goldcorp on Wednesday announced that it had declared commercial production at its Éléonore mine, located in the James Bay region of Quebec. The mine poured its first gold on October 1 last year and was expected to produce between 290 000 oz... 

Antofagasta restarts mines in northern Chile after heavy rains

By: Reuters     Updated 1 hour 45 minutes ago Copper miner Antofagasta said on Wednesday its Michilla, Antucoya and Centinela copper mines in northern Chile had resumed work after they were closed due to heavy rains last month. The London-listed company said it was working to minimise the loss of production caused by the rains. 

Brazil's Vale concludes sale of 49 pct stake in Belo Monte dam

By: Reuters     Updated 1 hour 50 minutes ago Brazilian miner Vale on Wednesday said it had concluded a deal with power utility Cemig Geração e Transmissão to sell 49% of its stake in the massive Belo Monte hydroelectric dam, following through on a December 2013 accord. Vale's remaining participation in the Norte Energia consortium running... 

Alpha Natural Resources cuts debt by about $379m

By: Henry Lazenby     Updated 2 hours 16 minutes ago US coal producer Alpha Natural Resources has reduced its total debt by about $379-million, after it successfully completed the repurchase of various notes. Alpha bought back about $593-million in principal amount of its unsecured notes, including the $82-million principal amount of its 3.75%... 

Corruption scandal keeps growing for Brazilian oil giant Petrobras

By: Simon Rees     Updated 6 hours ago Putting the ‘B’ in BRICS, the group of five major emerging national economies of Brazil, Russia, India, China and South Africa, it seemed as if Brazil was finally fulfilling its destiny to become South America’s global powerhouse in the latter half of the 2000s. As an added fillip, vast offshore... 

Corruption scandal keeps growing for Brazilian oil giant Petrobras

Brown insists Eskom is on ‘solid ground’, as 827 MW in short-term purchases are renewed

By: Terence Creamer     Updated 7 hours ago State-owned power utility Eskom and Public Enterprises Minister Lynne Brown confirmed on Wednesday that contracts under the so-called short-term power purchase programme (STPPP) had been renewed ahead of the March 31, 2015, expiry date. Eskom told Engineering News Online separately that the... 

Brown insists Eskom is on ‘solid ground’, as 827 MW in short-term purchases are renewed

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