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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
 
 
MERGERS & ACQUISITIONS

Anglo, Lafarge sign binding agreement

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Diversified mining major Anglo American has reached a binding agreement for the £885-million sale of its 50% interest in the Lafarge Tarmac joint venture (JV) to cement producer Lafarge. Lafarge Tarmac, formed in January 2013, is a 50:50 JV...
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
 
 
GOLD

Chesser looks at selling Turkish gold project

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ASX-listed junior Chesser Resources was mulling the sale of its Kestanelik gold project, in Turkey, to Turkish company Nurol Holdings for $40-million. The company has inked a letter of intent to divest of the mining licenses, ancillary permits...
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
 
 
DIVERSIFIED MINER

Freeport-McMoRan reports improved Q2 revenues

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Grasberg, Indonesia US diversified miner Freeport-McMoRan on Wednesday reported improved revenues for the three months ended June 30, as the company’s diversification into oil and gas exploration and production was paying off. The Phoenix, Arizona-based global...
23rd July 2014
 
 
IRON-ORE

Kumba’s cash return to black shareholding now at astounding R23bn Video Available

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The cash return of Anglo American’s Kumba Iron Ore to its black shareholding since Kumba’s listing on the Johannesburg Stock Exchange in 2006 has risen to R23.5-billion, Kumba CFO Frikkie Kotzee revealed this week. Kumba subsidiary Sishen...
23rd July 2014
 
 
NEW AIM LISTING

In taking up its Aim listing Friday, Bacanora is ready to take on majors

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Mexico-focused project-developing junior Bacanora Minerals will on Friday take up its new listing on London’s Aim, creating a more direct line to the bulk of the company’s investors. Speaking to Mining Weekly Online on Tuesday, the...
22nd July 2014
 
 
BASE METALS

Glencore expects closing La Bambas sale early August

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Global diversified miner Glencore on Tuesday reported that all conditions to complete the $5.85-billion cash sale of its Las Bambas copper project, in Peru, to a consortium of investors had been met, adding that it now expected to close the deal...
22nd July 2014
 
 
 
 
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