South America
GOLD & SILVER
Coeur d'Alene Mines posts loss on new-mine costs
0 COMMENTS
Precious-metals miner Coeur d'Alene Mines reported a net loss of $5,4-million for the second quarter, mainly owing to $10,7-million in predevelopment expenses at its Palmarejo silver project, in Mexico, the company said on Friday.
Excluding...
By: Liezel Hill
8th August 2008
M&A
Iamgold looking for acquisitions in West Africa, S America
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Toronto-based Iamgold is on the prowl for acquisition opportunities in West Africa and the Guyana basin, president and CEO Joseph Conway said on Friday.
Flagging output levels, surging metal prices and low valuations for junior companies are...
By: Liezel Hill
8th August 2008
GOLD
Iamgold posts $33,3m Q2 profit, lifts output forecast
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Canadian gold-miner Iamgold increased net earnings in the second quarter, to $33,27-million, compared with a loss of $81,37-million a year earlier, when it took a $93,7-million impairment charge related to its Mupane mine, in Botswana.
Stripping...
By: Liezel Hill
8th August 2008
GOLD
Yamana sees continued output growth
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Toronto-based Yamana Gold, which was established five years ago this week, expects to increase production by 470 000 gold-equivalent ounces in 2009, CEO Peter Marrone said on Thursday.
Given that the company maintained its output guidance of...
By: Liezel Hill
7th August 2008
GOLD
Yamana profit falls 20% to $42,1m on foreign exchange loss
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Canadian gold-miner Yamana Gold reported net income of $42,1-million, compared with $57,8-million a year earlier, after higher costs and foreign exchange losses related to the strengthening of the Brazilian real against the US dollar, as well as...
By: Liezel Hill
7th August 2008
MINING PRODUCTION
SA’s gold output drops further
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The fall in South Africa’s gold production continued in June, when the industry produced 12,3% less of the yellow metal than the same month the previous year, government figures showed.
Actual total mining production in the country for the...
By: Matthew Hill
7th August 2008
GOLD/SILVER
Intrepid awards engineering contract to local firm for new Argentina mine
0 COMMENTS
ASX- and TSX-listed Intrepid Mines has awarded the engineering and procurement services contract for its Casposo gold/silver project to Buenos Aires-based Ingenieria Penta Sur.
Production at Casposo, which will be the company's second mine, is...
By: Liezel Hill
6th August 2008
COPPER
Palamin reports 22% rise in headline EPS
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Rio Tinto’s Palabora Mining (Palamin), South Africa’s biggest copper producer, on Tuesday reported a 22% period-on-period increase in headline earnings to R9,65 a share for the six months ended June 30, despite a drop in revenues after an...
By: Matthew Hill
5th August 2008
GOLD PRICE
Gold price could hit $1 500/oz next year, says Holland
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Gold could trade as high as $1 500/oz in 2009, the head of Africa’s second-biggest producer of the yellow metal said on Friday.
Gold Fields CEO Nick Holland said that the industry was operating slightly above break even at a gold price of...
By: Matthew Hill
1st August 2008
SAFETY
Gold Fields takes short-term production knock to tackle safety record
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Gold Fields sank to a new 12-month low on the JSE on Friday, after it reported that it was taking even more short-term production pain in favour of improving safety at its operations, with the six-month closure of the main shaft at its key Kloof...
By: Matthew Hill
1st August 2008
GOLD
Goldcorp confident Marlin power sabotage issues resolved
0 COMMENTS
Canadian gold-miner Goldcorp is not expecting further disruptions to the power supply at its Marlin gold/silver mine, in Guatemala, Central and South America VP Tim Miller said on Thursday.
Output at the mine took a knock during the second...
By: Liezel Hill
1st August 2008
GOLD
Big new mines the best antidote to cost woes – Barrick's Munk
0 COMMENTS
The best way for global gold-miners to achieve real step changes in lowering operating costs is by opening large new mines with lower-cost structures that are able to withstand the inflationary pressures running rampant in the industry, Peter...
By: Liezel Hill
31st July 2008
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South America Multimedia
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