Rough diamond prices to remain under pressure in the near-term

The rough diamond market was in a “difficult phase”, with slowing diamond sales, falling prices, continued tight liquidity in cutting centres and weaker economic prospects in China negatively impacting on the short-term outlook for the market,...

DRC Mines Minister rejects Global Witness’s graft allegations

Democratic Republic of Congo (DRC) Mines Minister Martin Kabwelulu has rejected allegations of possible corruption in the State’s sale of shares in mining projects operated by Eurasian Natural Resources Corporation (ENRC). Global Witness, the...

Fear not the 'Glenstrata' giant, say coal customers

Big coal buyers should not fear the merger of miner Xstrata and trader Glencore into a dominant trading force, say customers who already rely on the two for supplies of coking coal for steel and thermal for power generation. They say the tie-up,...

Xstrata has strong shareholder backing for Anglo merger – Fairfax

Anglo American suitor Xstrata has strong institutional shareholder backing for its merger proposal and will gain further support for the deal despite Anglo’s rejection, Fairfax mining analyst John Meyer said on Tuesday. Xstrata spokesperson...

MDM Engineering raises £4,4m in Aim debut

Project house MDM Engineering on Monday announced that it had raised £4,4-million through selling 3,4-million shares to institutional investors, giving it a market capitalisation of £54,3-million on its Aim debut. It sold the shares...

BHP, AngloGold to respond to Congo mining review

Miner BHP Billiton is holding talks with Congolese officials and AngloGold Ashanti to put together a response following a sweeping review of mining contracts, the firms said. The Mines Ministry in the Democratic Republic of Congo said on Monday...

Contract workers strike cost Aquarius 4 700 oz PGM

Platinum producer Aquarius Platinum has lost an estimated 4 700 oz of attributable platinum-group metals production, owing to last week's industrial action at its Kroondal and Marikana mines, but said on Tuesday that all miners were back at...

Gem refuses to comment on rumours it might buy Kimberley Diamonds

Diamond producer Gem Diamonds (Gem) declined to comment on media and market speculation that it could be in talks to buy ASX-listed Kimberley Diamonds, but hinted that the Australian firm might make an announcement on a possible buy-out on...

New Sishen iron-ore production to begin in second half of this year

Production from the R5,1-billion Sishen expansion project (SEP) will begin in the second half of 2007 when an announcement for the go-ahead for the new Sishen South project is expected.

Hardly out of starting blocks, ferrochrome producer IFM set to

The story of the Buffelsfontein ferrochrome project is one of Australian persistence in creating a high-flying R5-billion London-listed enterprise � and also one of stubborn South African refusal to see merit in a 6 000-job opportunity on its...

Revised Norilsk bid represents superior offer - LionOre

Junior nickel producer LionOre Mining International (LionOre) on Thursday said that Russian Norilsk Nickel's C$6,8-billion offer was superior to diversified mining giant Xstrata's C$6,2-billion bid for the Canada-based company.

LionOre shares rally as Norilsk outbids Xstrata again

Junior nickel-miner LionOre shares have rocketed by more than 40% since Russia's Norilsk Nickel (Norilsk) announced on May 3 that it would pay more than diversified giant Xstrata's takeover bid for the company, and further upward...