IMF may start gold sales in Q1 – VM

Unless another central bank steps in to buy what remains of the gold earmarked for sale by International Monetary Fund (IMF), the fund will likely begin on-market gold sales in the first quarter of 2010, suggests VM Group analyst Matthew Turner....

Rio Tinto expects $741m from US coal unit IPO, notes sale

Diversified miner Rio Tinto will receive proceeds of at least $741-million from transactions related to the initial public offering (IPO) of its Cloud Peak Energy unit, which started trading on the New York Stock Exchange on Friday, the group...

Alpha Natural reports roof fall at Pennsylvania mine

A roof fall at US coal-miner Alpha Natural Resources' Emerald longwall mine, in Pennsylvania, disabled the main conveyor line and shut down production on Wednesday, the company reported on Friday morning. No employees were in the area at the time...

Santa Rita commissioning running smoothly - Mirabela

The commissioning of the processing plant at TSX- and ASX-listed Mirabela Nickel's Santa Rita mine, in Brazil, is going to plan, with only "minor rectification issues" encountered, the firm reported on Friday. All mechanical and electrical...

Newmont hits commercial production at new Australian mine

Colorado-based Newmont Mining has achieved commercial production at its new Boddington mine, in Australia. The mine, which is expected to operate for more than 24 years, will be the largest gold producer in the country.

Silver likely to reach $20/oz in short term - GFMS

Silver prices would likely reach the $20/oz level in the short term, as surging investment drives prices higher, precious metals consultancy GFMS forecast on Friday. The silver price had averaged at $14,06/oz for the first ten months of 2009, a...

Agrium holds 62% of CF, extends offer again

Shareholders in fertiliser group CF Industries had tendered about 30-million shares, or 62% of the company, into a takeover offer from larger rival Agrium when the offer expired on Wednesday night. The offer has been extended again, until...

Pacific Rim says arbitration tribunal formed for El Salvador case

An arbitration case brought by Pacific Rim Mining against the government of El Salvador will move ahead, as the arbitration tribunal has now been constituted, the company reported on Thursday. Pacific Rim embarked on arbitration proceedings...