Moly Mines gets final go-ahead for Chinese investment

TSX- and ASX-listed Moly Mines has received the final approval needed from the Chinese government for a $200-million equity and debt investment by Hanlong Mining Investments, the firm reported on Monday. Moly announced in October it had signed a...

Boddington ramp up 70% completed – Newmont

US-based gold-miner Newmont would complete the ramp up of its Boddington mine, in Western Australia, by the end of the third quarter, regional group executive Philip Stephenson reported on Monday. Speaking at the Paydirt Gold conference, in...

Vale says ramping up Canadian ops after proposal to end strike rejected

Brazil's Vale is increasing production levels at its Canadian nickel operations, despite a strike that marks its eighth month this Saturday, the company said on Friday. More than 3 000 United Steelworkers union members employed at Vale Inco's...

Goldcorp turns gaze to next generation of growth

With its huge Penasquito mine in Mexico on track for commercial production in the third quarter of this year, and Pueblo Viejo – co-owned with larger rival Barrick – scheduled to start up in the Dominican Republic late next year, Canada's...

Kazakh ex-uranium boss jailed for corruption

A Kazakh court sentenced a former uranium tycoon to 14 years in jail for theft and corruption on Friday in a case that has alarmed foreign investors working in the former Soviet republic. One of Kazakhstan's most prominent business figures,...

Potash Corp hikes outlook, shares jump

Shares in Canada's Potash Corporation of Saskatchewan rose on Friday, after the company raised its first quarter profit guidance, citing a sharply higher demand for potash and improved margins for its nitrogen and phosphate products. Potash Corp...

Rockwell targets 10 000 ct/m in five years

JSE- and TSX-listed Rockwell Diamonds has a plan to increase output sharply over the next five years, from the current 2 500 ct/m to 10 000 ct/m, CEO John Bristow said late on Thursday. The company, which mines high-value diamonds from alluvial...

Gold briefly drops below $1 100 on weak commods

Gold prices briefly fell below $1 100 an ounce on Friday, weighed down by preweekend profit-taking and broad-based commodity weakness led by oil. U.S. April gold futures were down $6,20 at $1 102 an ounce at 12:10 p.m. EST (1710 GMT) on the COMEX...