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Asia
 
COAL

Exxaro to acquire Total’s South African coal mines for $472m

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Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and...
28th July 2014
 
 
COAL

India sets target for captive coal mining production

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India’s Coal Ministry has set a captive coal production target of 68-million tonnes during 2014/15 from all blocks allocated to various companies for own fuel use. According to a Coal Ministry circular, “the production target has been set and...
28th July 2014
 
 
COPPER EXPORTS

Freeport set to resume Indonesian copper exports

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Freeport-McMoRan clinched a deal with the Indonesian government on Friday allowing the miner to resume copper concentrate exports from the country, effectively ending a six-month tax dispute and paving the way for more miners to follow suit....
25th July 2014
 
 
POTASH

PotashCorp lifts profit outlook, Q2 earnings beat expectations

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Canadian fertiliser producer Potash Corp of Saskatchewan (PotashCorp) this week reported a near 27% drop in second-quarter profit at $472-million, or $0.56 a share, as lower potash prices dragged revenue down. However, the results for the period...
25th July 2014
 
 
DIVERSIFIED MINERS

Anglo CEO backs Ramaphosa’s strike ballot comments

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The introduction of a strike ballot process as suggested by Deputy President Cyril Ramaphosa would be a great step forward for industrial relations in South Africa, Anglo American CEO Mark Cutifani said on Friday. Cutifani was responding to a...
25th July 2014
 
 
GOLD

London gold fix company appoints committee to oversee benchmark

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The company operating the gold price 'fix' has appointed a supervisory committee to oversee the century-old system of benchmarking gold prices ahead of the implementation of stricter regulations, its website showed on Friday. The London Gold...
25th July 2014
 
 
ZINC

India govt approves stake sale in Hindustan Zinc, BALCO

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India's new government has approved the sale of its residual stakes in Hindustan Zinc Ltd and Bharat Aluminium Co (BALCO), Finance Minister Arun Jaitley said on Friday. The government owns 29.5% of Hindustan Zinc and 49 percent of BALCO. Both the...
25th July 2014
 
 
Coal

Rio Tinto reportedly selling Moz coal asset to Indian company

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It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze...
25th July 2014
 
 
COSTS

New metrics enhance transparency of gold miners' cost reporting

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The World Gold Council’s (WGC’s) supplementary ‘all-in’ cost metrics have helped gold miners to provide more external transparency regarding their cost reporting, while the metrics have enabled them to internally drive change by equipping...
25th July 2014
 
 
MINING EQUIPMENT

Caterpillar posts higher quarterly profit

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Caterpillar on Thursday reported higher-than-expected second-quarter earnings as a rebound in sales to builders offset a continued slump in the mining sector. The company, the world's largest maker of earth-moving equipment, posted a...
24th July 2014
 
 
MINING SERVICES

Mining project studies on the increase – DRA Video Available

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Martin Creamer and DRA CEO Paul Thomson The awarding of studies for potential mining projects is on the increase, says DRA CEO Paul Thomson, who spoke to Mining Weekly Online on the eve of his company’s thirtieth anniversary celebrations. The head of the 3 000-employee project house,...
24th July 2014
 
 
COPPER

Indonesia to give Freeport export permit, face-off continues

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Indonesia will soon allow US miner Freeport-McMoRan Copper & Gold Inc to resume copper exports, with both sides close to ending a six-month dispute over new mining rules, a senior official said on Thursday. However, there has been no such...
24th July 2014
 
 
 
 
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