Molycorp lifts Q1 adjusted profit, revenue triples

US-based rare-earth miner Molycorp on Thursday posted a 221% increase in adjusted earnings at $18.3-million or 18c a share, while it took a net loss of $3.47-million or 7c a share. The loss was the result of a one-time noncash expense of...

Scotiabank's Mohr: near-term copper prices to remain flat

Copper prices will likely hover around current levels until the second quarter, Scotiabank said on Tuesday, in the latest instalment of its monthly Commodity Price Index. The red metal, used in plumbing and electric wiring, pushed as high as...

Uranex working on joint development offers for Mkuju

Uranium developer Uranex on Tuesday said that it had received a number of unsolicited approaches from parties in Asia and North America regarding joint development of its Mkuju uranium project, in Tanzania. The parties were predominantly made up...

Xstrata eyes benefits from global copper supply woes

Xstrata, the world's fourth-largest copper miner, expects to benefit from supply troubles hitting the metal globally, it said on Tuesday, as it reported increased resources and said its own key projects were on track and on schedule. A drastic...

Botswana govt to trade diamonds independently to verify market movements

What will the Botswana government do with the 10% of run-of-mine rough that it buys from Debswana – the 50:50 De Beers and Botswana government joint venture diamond-mining company – beginning this year?

Gold will be the precious metal in deficit this year – UBS

Gold is on a roll, with investors ready to take up any retrace in the price. “Gold’s the one precious metal that’s going to be in a deficit this year. Platinum, we think, is going to be in a small surplus,” UBS bullion bank precious...

Despite China slowdown fears, iron-ore optimism remains

With growing fears that the Chinese economy could suffer a hard landing from the government’s cooling measures, analysts said this week Beijing has a good track record of managing the economy so far, and prices for commodities like iron-ore...

Aquarius post $23m third-quarter profit, production flat

Midtier platinum-miner Aquarius, which owns operations in South Africa and Zimbabwe, posted a big jump in its third quarter profit as platinum-group metals (PGMs) prices strengthened. The JSE- and ASX-listed Aquarius lifted net profit to...

Mineral sands demand to increase – Iluka

Mineral sands miner Iluka more than doubled sales to A$149,4-million in the March quarter, from A$71,5-million a year earlier. The company, which released its quarterly production report on Wednesday, said that demand for high-value mineral sands...

World economic recovery to be slow, no sharp rebound expected – BHP Billiton

The overall world economic recovery would be slow and protracted and a sharp rebound was not anticipated, BHP Billiton CEO Marius Kloppers has told a global mining conference. The South African born head of the world's biggest mining company told...

Australian minerals miner positive 
going forward

Despite current uncertainties in global economies, Australian heavy mineral sands miner Iluka’s operational and marketing performance shows improvement, as its major projects remain on track, supported by a strong balance sheet, while confidence...

China Goldmines starts ouput at Shenjiya with first gold pour

Aim-listed China Goldmines has poured the first four kilograms of gold from concentrate at its Guanzhuang gold project, at the Shenjiya prospect in China's Hunan province, the company announced on Monday.