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South America
 
COAL

Exxaro to acquire Total’s South African coal mines for $472m

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Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and...
28th July 2014
 
 
COPPER

Avanco inks royalty agreement at Antas, Brazil

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Copper developer Avanco Resources has executed a $12-million non-dilutive production royalty investment with BlackRock World Mining Trust, over the Antas mine in Brazil. Avanco told shareholders on Monday that a due diligence had been completed,...
28th July 2014
 
 
GOLD

Orinoco teams up with Cleveland to speed up Brazil gold project

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ASX-listed miner Orinoco Gold and Cleveland Mining have teamed up to fast-track the development of Orinoco’s Cascavel gold project, in Brazil. Under the terms of the agreement, Cleveland would assist Orinoco in mining, extracting, processing...
28th July 2014
 
 
IMPORT DUTIES

US sets duties on ferrosilicon from Venezuela, not Russia

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The US Department of Commerce on Friday confirmed final import duties on ferrosilicon from Venezuela and found no dumping of products from Russia, upholding an earlier decision. Final dumping margins on ferrosilicon, used as an alloying agent in...
25th July 2014
 
 
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
 
 
FINANCIAL RESULTS

Anglo delivers ‘pleasing’ results despite headwinds

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Mark Cutifani Despite the headwinds faced by diversified miner Anglo American during the first half of the year, the group had delivered a “pleasing” performance at all its operations barring platinum. Anglo American CEO Mark Cutifani on Friday said the...
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
 
 
ENVIRONMENT

Codelco submits changes to Andina project to reduce environmental impact

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World No 1 copper producer Codelco submitted to Chilean environmental authorities changes to its controversial Andina project that it said would reduce the mine's potential impact on nearby glaciers and water supply. State-owned Codelco, which...
25th July 2014
 
 
IRON-ORE

Brazil miner Vale posts record Q2 iron-ore production

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Brazilian miner Vale said on Thursday its iron ore output in the second quarter was a record high for the period, up 12.6% from a year earlier, as it ramped up production to win back market share from Australian rivals. Vale's preferred shares,...
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
 
 
 
 
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