China’s gold demand seen flat as economy slows

Gold demand growth in China, the second-largest consumer, may stagnate this year as declining prices put off investors and slower economic growth crimps sales, according to the mainland’s biggest gold-jewellery maker. “The volatility and...

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...

Phoenix mine, South Africa

A platinum mine in South Africa's North West province.

Pan African starts work on Barberton tailings retreatment plant

JSE- and Aim-listed Pan African Resources on Wednesday said it had started bulk earthworks for the construction of its 100 000 t/m Barberton tailings retreatment plant (BTRP), next to the current Bramber tailings dam. The start of the civil work...

Pinto Valley mine restart project, US

The Pinto mine is expected to restart operations after being placed under care and maintenance.

Phoenix gold project, Canada

The Phoenix project is located next to Goldcorp’s Red Lake mine, in northern Ontario.

Pan African Resources reports record earnings

Despite falling short on planned gold production, Africa-focused precious metals producer Pan African Resources reported record earnings for the six months ended December. CEO Jan Nelson on Wednesday attributed the strong performance to a high...

Molycorp to start Mountain Pass plant this week

Rare earths miner Molycorp will embark on the staged start-up of the new plant at its Mountain Pass mine this week, well ahead of schedule, the company said on Tuesday. “When this new manufacturing facility is complete and running at full...

Kumba’s iron-ore sales rise despite 5% production decline

Kumba Iron Ore has posted a 5% decrease in annual production from its three active operations, owing to exceptional rainfall at its Sishen mine in the first quarter of 2011, and a planned slowdown of its Thabizimbi mine, which is nearing its end...

Russia’s Norilsk seeks to expand nickel reserves in Botswana

World number one nickel and palladium producer, and Russia’s largest diversified mining company, MMC Norilsk Nickel (Norilsk), has reported that it will complete airborne geophysical surveying and surface geochemical prospecting in the Tekwane...

Long-term iron-ore outlook positive, Kumba asserts

The outlook for global iron-ore demand was likely to improve over the medium- to long-term, Anglo American’s Kumba Iron Ore CEO Chris Griffith said on Thursday. Global demand for iron-ore would remain dependent on steel manufacturing in China,...

Rubicon to raise C$200m to build Phoenix project

Rubicon Minerals, hoping to build a gold mine next to one of Canada’s biggest, took advantage of the run-up in its share price so far this year, announcing a C$200.9-million bought deal financing. The cash will go towards building the Phoenix...