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Latest News

Codelco production rises as new mines boost output

By: Reuters     Updated 46 minutes ago Codelco, the world's No 1 copper producer, increased output in the first quarter of 2015, compared with a year ago, although a slide in the copper price eroded profits. Codelco produced 394 000 t of copper from its fully owned projects in the first quarter, up 3% from 2014, boosted by new... 

Vale to ship coal along Mozambique Nacala Corridor in Q3 - exec

By: Reuters     Updated 49 minutes ago Brazilian miner Vale plans to start exporting coal along the Nacala rail and port corridor in Mozambique and Malawi in the third quarter after heavy rains damaged the rail line, the firm's head of coal told Reuters on Friday. The Moatize mine remains on track to reach a run rate of 11-million... 

Base metals on ‘negative’ watch as low prices, slowing growth stales outlook – Moody’s

By: Henry Lazenby     Updated 1 hour 13 minutes ago Advisory firm Moody’s Investors Service does not expect base metal prices to materially improve over the next 12 to 18 months, saying the basket of metals including copper, zinc and nickel faced downside risks amid an uncertain global economic recovery. In its latest ‘Outlook Update: Global Base... 

True Gold fortifies Karma project team

By: Henry Lazenby     Updated 1 hour 59 minutes ago Canadian project developer True Gold has reinforced its Burkina Faso-based development and operations team that would be responsible for completing construction of the Karma gold mine, as well as subsequent operations and ongoing community and government relations. The TSX-V-listed company last... 

Oakbay narrows FY losses

By: Natasha Odendaal     Updated 5 hours ago Higher gold production and improved grades in the second half of the 2015 financial year led to JSE-listed Oakbay Resources and Energy narrowing its overall losses for the full year by 84%, while its gross and operating profit swung back into the black. Posting its maiden results since listing on... 

Metmar reports positive FY cash generation, despite challenges

By: Megan van Wyngaardt     Updated 5 hours ago Despite a decline in commodity prices, lower demand and persistent low global economic growth, which resulted in deteriorating trading conditions, bulk commodities trader Metmar still achieved positive cash generation of R18.7-million for the financial year ended February 28. “Sinter tolling and... 

Productivity, modernisation key in gold wage talks

By: Megan van Wyngaardt     Updated 6 hours ago South Africa’s gold mining industry needed to undergo a structural shift and significant modernisation to curb the socioeconomic pressures it was facing and to create a sustainable, uninterrupted operating environment, South Africa’s gold miners have stated. In the latest update from their ‘This... 

Productivity, modernisation key in gold wage talks

Platinum sector faces its Kodak moment in fuel cell technology

By: Reuters     Updated 6 hours ago Platinum miners betting on fuel cell vehicles to help boost demand for the precious metal and lift moribund prices are in danger of having their hopes dashed, at least in the medium term: electric and hybrid cars are taking a bigger share of the market. The world's three largest platinum... 

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