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GOLD

Alacer Gold’s Q2 adjusted profit nosedives on lower grades, sales

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Turkey-focused gold producer Alacer Gold on Tuesday reported a 57% year-on-year drop in headline earnings for the three months ended June 30, as lower grades at its 80%-owned Çöpler mine resulted in lower sales. Excluding special items,...
29th July 2014
 
 
COAL

Transnet CEO Molefe raises alarm on softening coal price

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Transnet CEO Brian Molefe on Tuesday raised the alarm over the ever-declining coal price. The company planned to undertake a study on the impact of the lower coal price and said it would make an announcement in due course.
29th July 2014
 
 
GOLD

New London gold 'fix' administrator to be in place by end-2014

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The operator of the gold price "fix" said on Tuesday the process to find a new administrator for the century-old benchmarking system will last one month from late August, and will be working by the end of 2014. London Gold Market Fixing Ltd...
29th July 2014
 
 
COAL

Boikarabelo development continues as Resgen seeks new contractor

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JSE- and ASX-listed Resource Generation (Resgen) is undertaking the development of some projects at its Boikarabelo mine, in the Waterberg, while it works to find a new earthworks contractor for the operation. The coal hopeful reported earlier...
29th July 2014
 
 
COAL

Anglo’s coal productivity in South Africa 50% below Australia – Cutifani

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Productivity in Anglo American’s coal business in South Africa is 50% below that of Anglo’s coal business in Australia. As a result, Anglo American CEO Mark Cutifani is pulling out all the stops to improve the South African coal business’...
29th July 2014
 
 
MINING SERVICES

Monadephous wins Sino contract

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Project house Monadelphous has been awarded a A$160-million construction contract at the Sino iron-ore project, in Western Australia The contract included the structural, mechanical and piping installation and commissioning works within...
29th July 2014
 
 
TUNGSTEN

Thor extends mine life at Molyhil

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ASX-listed junior Thor Mining has increased the life expectancy of its Molyhil tungsten mine, in the Northern Territory, from four to six years, following an update to the ore reserve. The company on Tuesday reported that the Molyhil ore reserve...
29th July 2014
 
 
OIL & GAS

Beach hits record production in full year

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ASX-listed Beach Energy has reported record full-year production during the year ended June, along with record full year sales. During the year ended June, Beach produced 9.6-million barrels of oil equivalent, a 20% increase on the previous...
29th July 2014
 
 
GOLD

Perseus gold production drops in June quarter

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Dual-listed gold miner Perseus Mining has reported a slight decline in production during the three months to June following a fire at its processing plant in April this year, and the failure of an electricity substation in June. During the three...
29th July 2014
 
 
COPPER

S Australia govt gives approval for Rex's Hillside

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The South Australian government has approved the mining lease for ASX-listed Rex Minerals' Hillside copper project, formally offering the company the mineral tenements covering the Hillside project. A recently updated mine plan showed that the...
29th July 2014
 
 
GOLD

Evolution FY output at record, in line with guidance

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Gold miner Evolution Mining has exceeded its production expectations during the three months to June, with the miner delivering 111 899 oz of gold. This was compared with the 101 408 oz of gold produced during the previous quarter, and above the...
29th July 2014
 
 
GOLD

West Africa moves into feasibility study at Burkina Faso project

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A scoping study into ASX- and TSX-listed West African Resources’ Mankarga 5 project, in Burkina Faso, has estimated that the gold project could have a net present value of some A$84-million. The scoping study estimated that the project would...
29th July 2014
 
 
 
 
 
 
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