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COAL

Transnet CEO Molefe raises alarm on softening coal price

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Transnet CEO Brian Molefe on Tuesday raised the alarm over the ever-declining coal price. The company planned to undertake a study on the impact of the lower coal price and said it would make an announcement in due course.
29th July 2014
 
 
GOLD

Asanko's Dynamite Hill resource estimate expected in Sept, mining to start Q3 2015

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A maiden mineral resource estimate (MRE) for West Africa-focused project developer Asanko Gold’s Dynamite Hill deposit, in Ghana, is being compiled, following positive metallurgical testwork results, and should be published in September, the...
29th July 2014
 
 
GOLD

New London gold 'fix' administrator to be in place by end-2014

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The operator of the gold price "fix" said on Tuesday the process to find a new administrator for the century-old benchmarking system will last one month from late August, and will be working by the end of 2014. London Gold Market Fixing Ltd...
29th July 2014
 
 
COAL

Anglo’s coal productivity in South Africa 50% below Australia – Cutifani

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Productivity in Anglo American’s coal business in South Africa is 50% below that of Anglo’s coal business in Australia. As a result, Anglo American CEO Mark Cutifani is pulling out all the stops to improve the South African coal business’...
29th July 2014
 
 
IRON-ORE

Push to flood iron-ore market crushes smaller suppliers

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A faster-than-expected increase in iron-ore production by the world's biggest miners in Australia and Brazil this year is pushing less efficient smaller suppliers of the steel-making raw material to the edge. From Europe to Australia to the...
29th July 2014
 
 
URANIUM

Despite tough market, Paladin sales beat expectations

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ASX- and TSX-listed uranium producer Paladin Energy on Monday reported strong full-year 2014 and fourth-quarter output, meeting its guidance. Paladin, which produces yellowcake from operations in Africa, reported combined output of 7.94-million...
28th July 2014
 
 
PROJECT DEVELOPMENT

Troy Resources to fast-track production at openpit-only Guyana project

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ASX- and TSX-listed Gold producer Troy Resources on Monday reported positive results from an updated prefeasibility study considering only an openpit mining scenario for its Smarts and Hicks deposits at its 100%-owned Karouni project, in Guyana,...
28th July 2014
 
 
COAL

Exxaro to acquire Total’s South African coal mines for $472m

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Black-controlled mining company Exxaro is to acquire the South African coal mines of French petroleum giant Total to create 100% black-owned coal assets. The JSE-listed Exxaro, headed by CEO Sipho Nkosi, has entered into a binding sale and...
28th July 2014
 
 
COPPER

Avanco inks royalty agreement at Antas, Brazil

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Copper developer Avanco Resources has executed a $12-million non-dilutive production royalty investment with BlackRock World Mining Trust, over the Antas mine in Brazil. Avanco told shareholders on Monday that a due diligence had been completed,...
28th July 2014
 
 
GOLD

Orinoco teams up with Cleveland to speed up Brazil gold project

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ASX-listed miner Orinoco Gold and Cleveland Mining have teamed up to fast-track the development of Orinoco’s Cascavel gold project, in Brazil. Under the terms of the agreement, Cleveland would assist Orinoco in mining, extracting, processing...
28th July 2014
 
 
IMPORT DUTIES

US sets duties on ferrosilicon from Venezuela, not Russia

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The US Department of Commerce on Friday confirmed final import duties on ferrosilicon from Venezuela and found no dumping of products from Russia, upholding an earlier decision. Final dumping margins on ferrosilicon, used as an alloying agent in...
25th July 2014
 
 
POTASH

PotashCorp lifts profit outlook, Q2 earnings beat expectations

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Canadian fertiliser producer Potash Corp of Saskatchewan (PotashCorp) this week reported a near 27% drop in second-quarter profit at $472-million, or $0.56 a share, as lower potash prices dragged revenue down. However, the results for the period...
25th July 2014
 
 
 
 
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