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PLATINUM 1332.00 $/ozChange: 0.00
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MINE CONSTRUCTION

True North Gems starts Greenland ruby and sapphire mine construction

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TSX-V-listed True North Gems on Tuesday announced that it had given orders to its joint-venture (JV) partner Leonhard Nilsen & Sonner Greenland (LNSG) to allow equipment to be mobilised and to inaugurate construction at the Aappaluttoq ruby and...
23rd September 2014
 
 
COAL

Broke Miranda coal junior shuts up shop, can’t meet obligations, suspends shares

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John Wallington The board of JSE-listed Miranda Minerals has requested the Johannesburg Stock Exchange to suspend trade in its shares as the financially distressed coal exploration-and-development company has ceased doing business and can no longer meet its...
23rd September 2014
 
 
PLATINUM

Pallinghurst platinum mine invests in low-energy smelt alternative

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Pallinghurst CE Arne Frandsen The platinum platform of diversified JSE-listed Pallinghurst has invested in a low-energy hydrometallurgical alternative to high-energy smelting. The environment-friendly Kell process, which Pallinghurst has been studying over a prolonged period,...
22nd September 2014
 
 
PLATINUM

Lossmaking Bauba’s exploration drilling on hold, non-execs accept halved fee

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Bauba CEO Syd Caddy The exploration drilling activities of lossmaking JSE-listed platinum exploration company Bauba have been put on hold and nonexecutive directors are talking only half of their fees until the company has sufficient cash to pay them in full....
22nd September 2014
 
 
DIAMONDS

Russian diamond miner Alrosa says CEO to step down

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Russian diamond mining company Alrosa said on Monday its CE) and president Fyodor Andreev had decided to resign for medical reasons. Andreev announced his decision at the weekly management meeting on September 22, Alrosa said in a statement. The...
22nd September 2014
 
 
PRECIOUS METALS

Silver slumps to four-year low; gold looks likely to test $1 200

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Silver's sell-off extended to a second session on Monday, with the metal tumbling to a four-year low, as investors unwound long positions amid strength in the dollar and the possibility of a sooner-than-expected US rate hike. Weakness in gold,...
22nd September 2014
 
 
Europe

Creamer Media publishes African Mining Roundup for September 2014 research report

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This month’s report includes details of project developer Ivanhoe Mines’ appointment of financial advisers to conduct a strategic review of its Kamoa and Kipushi base metals project, in the Democratic Republic of Congo; the granting a mining...
22nd September 2014
 
 
LEGISLATION

Human rights group sues SEC over delays on resource extraction rule

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A human rights organization sued the US Securities and Exchange Commission (SEC) on Thursday, saying the agency is "unlawfully" delaying work on a rule that would require oil, gas and mining companies to disclose payments they make to foreign...
19th September 2014
 
 
GOLD OUTLOOK

Moderate global economic growth outlook forces miners to keep promises

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The most critical challenge miners needed to deal with during the next 12 months was to deliver on their promises of cost savings and regain the confidence of the capital markets, professional services firm KPMG Canada’s mining industry leader Lee...
19th September 2014
 
 
GOLD

Gold industry at a crossroads, return to fundamentals essential for capital

0 COMMENTS
The gold industry needed to make money once more, and return to fundamentals if it was to succeed in competing with the gold exchange-traded funds (ETFs) for coveted capital, the world’s seventh-largest gold producer by output said on Thursday. In...
18th September 2014
 
 
GOLD

Gold Fields aims to cut debt by $300m over two years

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Nick Holland Gold Fields Ltd aims to cut its debt by $300-million over the next two years, it said on Thursday, a move that would give South Africa's No 2 bullion miner ample headroom for potential acquisitions. The company's borrowings totalled $1.6-billion...
18th September 2014
 
 
DIAMONDS

State diamond miner Alexkor urged to comply with audits, find cash

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Public Enterprises Minister Lynne Brown State-owned diamond mining company Alexkor must comply with financial audits and find new sources of cash, new Public Enterprises Minister Lynne Brown urged on Thursday. In an Alexkor annual general meeting address, which was distributed to the...
18th September 2014
 
 
 
 
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