Central banks buying gold – David Hale

Emerging central banks were for the first time in modern history buying gold, Hale Global Economics founder David Hale said on Tuesday. Hale told the Mining Indaba that last year the emerging market central banks of Russia, Korea, Kazakhstan and...

BHP taking measures to address downstream challenges

Diversified giant BHP Billiton would continue to take “deliberate measures” to address the challenges that its downstream-oriented businesses were facing, CEO Marius Kloppers said on Wednesday. In its financial results for the first six...

Avanco triples Rio Verde resource

Copper developer Avanco Resources has tripled the Joint Ore Reserves Committee- (Jorc-) compliant resource of its Rio Verde project, in Brazil, to some 17.77-million tons, at 1.17% copper and 0.3 g/t gold for 209 000 t of contained copper and 171...

BHP profits slump, sees global slowdown

Global miner BHP Billiton has reported a 6% decline in attributable profit for the first half of 2012, with profit falling to $9.9-billion, from $10.5-billion in the previous corresponding period. CEO Marius Kloppers said on Wednesday that the...

Gold Fields making progress with diversification strategy

South Africa-based miner Gold Fields has established a strong growth portfolio over the next five years to increase its current gold production base of 3.5-million ounces a year, CEO Nick Holland said at the Investing in Africa Mining Indaba in...

Anglo CEO says shareholders supportive in Chile row

Anglo American's shareholders are "very supportive" of the company in its legal battle against copper producing giant Codelco in Chile over its assets in the country's south, CE Cynthia Carroll said on Tuesday. Anglo American surprised markets...

Global copper demand to grow 1.2% this year

China remains the key global growth driver for copper, but demand growth from the Asian giant is expected to slow this year, Standard Bank head of commodities research Walter de Wet said this week. China’s demand, which has been growing at...

Glencore-Xstrata deal meets shareholder opposition

Schroders head of UK equities who controls one of the largest independently held stakes in miner Xstrata has said he intends to vote against the planned merger with suitor Glencore. Richard Buxton said he thought the terms of the proposed merger...

Xstrata, Glencore agree to $90bn merger

Commodities trader Glencore and diversified miner Xstrata have agreed on the terms of an all-share “merger of equals”, to create a natural resources group with a combined value of $90-billion. The companies on Tuesday announced a merger ratio...

Philippine port says Vale transshipment ops start Feb 12

Brazil's Vale will begin its iron-ore distribution operations in the Philippines this weekend, the Philippine port operator said, from where the world's top miner of the raw material will transfer China-bound ore brought in by big ships. Vale is...

Vale to restart operations at Ontario mines

Brazilian mining giant Vale said on Monday it has begun to restart mining operations at its five nickel-copper mines in Sudbury, in northern Ontario, after suspending output last week following the death of a worker in an underground accident....

Demand for minor metals to rise, but supply disruptions a risk

Demand for cobalt, tantalum and rare earth metals – seen as critical minor metals necessary for the continuation of the modern way of life – would continue to increase, but a mining consultancy group said on Monday that there was a risk of...