Gold rises to new record

The price of gold jumped to a new high on Tuesday, buoyed by news that India's central bank had bought 200 t of the yellow metal from the International Monetary Fund. Gold futures rose to $1 088,50 in the US, despite a positive move by the US...

Platinum demand recovering slowly, deficit expected in 2011, says Lonmin CEO Farmer

Platinum demand levels were gradually improving and a slow firming in the platinum price could be seen, but no quick rebound was expected, Lonmin CEO Ian Farmer said last week. Farmer told Mining Weekly Online that the worst was behind the...

Russian mining industry showing some signs of recovery

Last December, the Russian mining industry felt beleaguered by the global recession. That month, Norilsk Nickel CEO Vladimir Strzhalkovsky issued an appeal to the Kremlin. “The industry is in a very difficult situation now. The revenues of...

Russian mining industry showing some signs of recovery

Last December, the Russian mining industry felt beleaguered by the global recession. That month, Norilsk Nickel CEO Vladimir Strzhalkovsky issued an appeal to the Kremlin.

Zim's new bullion marketing policy well received by beleaguered gold-mining sector

Stakeholders in Zimbabwe’s ailing gold-mining industry have warmed to the recent bullion marketing policy changes announced by the Reserve Bank of Zimbabwe, with UK-based Mwana Africa and Canada- based New Dawn Mining indicating that they may...

Gold shares to outshine platinum shares, Zim central bank moots mining overhaul, manganese smelter to close for two months

South African gold shares are poised to outdo South African platinum shares in the first half of 2009, Royal Bank of Canada Europe analysts Leon Esterhuizen, Arnold van Graan and Yuen Low calculate.

Zim central bank moots major overhaul of mining sector

Zimbabwe’s central bank has proposed sweeping reforms to the country’s mining sector which will leave the Zimbabwe Mining Development Corporation (ZMDC) as the sole “explorer and discoverer” of minerals and also include strict monitoring...

Zimbabwe proposes sweeping mining industry reforms

Zimbabwe’s central bank has proposed sweeping reforms to the country’s mining sector which will leave the Zimbabwe Mining Development Corporation as the sole ‘explorer and discoverer’ of minerals, a strict monitoring of the production and...

Russia abolishes state monopoly on PGM exports

Russian President Dmitry Medvedev has signed into law a bill abolishing state firm Almazjuvelirexport's monopoly on exporting platinum group metals (PGM), the Kremlin press office said on Friday. Previously, all PGM producers and stock holders,...

World financial crisis will affect Zambian copper exports, central bank says

The financial crisis which began in the US last month and steadily spread to affect the whole world will adversely affect demand for Zambian copper and hurt the flow of foreign direct investments, the Zambian central bank has warned.

Gold producers appeal to Mugabe over delayed payments

Gold-mining companies represented by the Zimbabwe Chamber of Mines have written to President Robert Mugabe, appealing to him to force the Reserve Bank of Zimbabwe (RBZ) to pay OUT theS$25-million it owes them for gold bullion delivered to the...

Uranium to anchor Namibian economy in future– central bank

Namibia’s central bank said last week that future economic growth would be spearheeaded by uranium as the diamond-mining sector, which had traditionally anchored the country’s economy, was beginning to lose its shine.