Silvercorp net earnings fall on higher production costs

TSX-listed Silvercorp Metals on Thursday said fourth-quarter profit fell by 19% to $9.7-million quarter-on-quarter, or 6c a share, weighed down by increased production costs despite higher prices achieved. The lower net income was mainly...

Silvercorp Q1 silver output up 15%

Vancouver-based Silvercorp Metals, which operates mines in China, produced 1.6-million ounces of silver in the first quarter of the company's 2012 financial year, an increase of 15% compared with a year earlier. Gold output rose 30% year-on-year,...

Silvercorp plans up to 5.7% buyback, shares rise

Vancouver-based Silvercorp Metals, which owns mines in China, rose on Monday morning after the firm announced plans to repurchase up to 10-million of its shares, or as much as 5.7% of the company. The company believes its shares, which had lost...

Silvercorp eyes $500m revenue with two new mines coming on

Silvercorp Metals, a Vancouver-based company with mines in China, will have three producing operations by the end of 2012, and could see revenue heading towards half a billion dollars if prices stay at current levels, CEO Rui Feng said in an...

Silvercorp issued mining permit in China

Vancouver-based Silvercorp Metals has received a mining permit for its GC silver/lead/zinc project in China's Guangdong province, the firm said on Thursday. The 30-year underground mine permit covers the entire 5,52 km2 area of the project.

Chinese group to bid £251,6m for Caledon

China’s Guandong Rising Asset Management (Gram) has agreed to buy Aim- and ASX-listed coking coal miner Caledon Resources for £251,6-million. Caledon shareholders would receive £1,12 in cash for every share held if the acquisition, which is...

Minco arranges project debt for China silver mine

Vancouver-based Minco Silver has received conditional commitment for a project debt facility of about $44,17-million from the Guangdong branch of the Industrial and Commercial Bank of China, for the company's Fuwan silver project. The debt...

China plans to fix rare earth prices – report

China's central government plans to publish monthly prices for rare earth metals to avoid producers engaging in "cut-throat competition", China Daily reported on Thursday. China dominates production with 95% of global supply of the group of...

Exxaro expects to ‘wheel’ power for coal IPPs, De Beers sees China on way to matching US, Village Main firms up its platinum launch pad

Coal miner Exxaro expects to sell its coal to four independent power producers (IPPs) and then to “wheel” that power to customers along the transmission grid. Read on page 6 of this edition of Mining Weekly of the JSE-listed company targeting...

Chinese diamond market catching up with US – De Beers

Chinese diamond demand could reach the same level as the US, the biggest consumer, in the next decade, De Beers MD Gareth Penny said last week. In a video interview with London's Financial Times, he said at that stage China, including Hong Kong,...

China struggles to fuel its nuclear energy boom

China is driving ahead with an ambitious programme to expand its atomic energy capacity over the next decade, raising questions about its ability to find the uranium it will need, at home or abroad. Total capacity reached 9,1 gigawatts by the end...

Fuwan silver project, China

The Fuwan silver project, in Guangdong province, has a probable mineral reserve of 9,12-million tons averaging 189 g/t of silver.