East Africa to join world gas giants

To East Africa's assets of spectacular wildlife, abundant land and shimmering beaches you can now add gas - so much gas it could transform global energy flows along with some of the world's poorest countries. Finds announced just last week off...

BHP may delay at least two mega projects to rein in spending

BHP Billiton, the world's biggest miner, is likely to delay signing off on at least two mega projects after its chairman put the brakes on an $80-billion plan to grow the company's iron-ore, copper and energy operations, analysts say. Slumping...

South African stocks up for second straight session

South African stocks rose for the second straight session on Friday, buoyed by upbeat consumer sentiment data out of the United States and a strong sales report from financial group Old Mutual. But Johannesburg-listed shares of Lonmin fell after...

Fresnillo silver production on target, gold beats forecast

The world’s number one silver producer, Fresnillo, on Wednesday said its first-quarter silver production was in line with expectations, while it reported higher-than-expected gold output, owing to the start up of a new mine. The Mexico-focused...

Riding out commodity uncertainty, producers limit output, close plants

While mining firms enjoyed massive profits last year as commodity and metals prices remained elevated in the first half of 2011, the US debt downgrade in August and the eurozone’s wobbles have brought about fresh fears.

AuRico 2012 guidance in line with forecasts - UBS

Canada’s AuRico Gold, said on Tuesday production would about double in 2012 to between 540 000 and 600 000 gold equivalent ounces, mainly thanks to its C$1.46-billion October acquisition of Northgate Minerals. The company produced 273 367 gold...

Carmakers’ $7bn platinum bill shrinking glut

Carmakers will use a record $7-billion worth of platinum in catalytic converters next year, diminishing a glut just as mine production declines for the first time since 2008.

Analyst views Silver Standard as takeover target following drop

Shares in Silver Stand Resources gained 5% on Friday, after UBS analyst Chris Lichtenheldt said the company may be in takeout territory. The company had in the previous day reported a drop in production and also halved the reserves at its...

China commodities data flags tough months ahead

China's falling steel and power output in September, coupled with a meagre increase in implied oil demand, show that a year-long monetary tightening campaign and economic woes in the West have begun to pinch. A confluence of bearish factors in...

Gold stocks have big upside, gold price on way back to $2 000/oz – UBS

Some gold-mining stocks currently have upside potential of 40% and more, says UBS Sub-Saharan Africa market head Marco Spichiger, who expects the gold price to trend back towards $2 000/oz and $2 200/oz levels within six months. Spichiger, who is...

SA, Zambia approve Metorex takeover

South African and Zambian competition authorities have approved Chinese-based Jinchuan Group’s takeover of copper miner Metorex, the companies announced in a joint statement on Tuesday. The Chinese group made a R9.1-billion offer for Metorex in...

Prepare for lift-off in gold miners' shares

A theme that kept cropping up at the Toronto Resource Investment Conference this week is the expectation that gold stocks are about to shoot through the roof. Speaking on Friday, Sprott Private Wealth CEO David Franklin said he expects the...