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IMPORT DUTIES

US sets duties on ferrosilicon from Venezuela, not Russia

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
 
DRILLING SERVICES

Major Drilling expands services underground

Canadian drilling equipment and services provider Major Drilling this week announced its entry into the underground percussive/longhole drilling sector with an agreement to buy Taurus Drilling Services for C$27.7-million. The Moncton, New...
25th July 2014
 
PROJECT FINANCING

Osisko Gold Royalties buys into NioGold for C$4.9m

The TSX-V-listed stock of junior exploration firm NioGold Mining on Friday soared by as much as two thirds after announcing a C$4.9-million private-placement financing with Osisko Gold Royalties. Vancouver-based NioGold said that Osisko would buy...
25th July 2014
 
SILVER

Fortune Minerals reports attractive metrics for Colorado silver mine

TSX-listed Fortune Minerals this week reported attractive financial indicators resulting from a preliminary economic assessment (PEA) undertaken on its recently acquired Revenue Silver mine, in south-west Colorado. The London, Ontario-based...
25th July 2014
 
POTASH

PotashCorp lifts profit outlook, Q2 earnings beat expectations

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
 
DIVERSIFIED MINERS

Anglo CEO backs Ramaphosa’s strike ballot comments

The introduction of a strike ballot process as suggested by Deputy President Cyril Ramaphosa would be a great step forward for industrial relations in South Africa, Anglo American CEO Mark Cutifani said on Friday. Cutifani was responding to a...
25th July 2014
 
GOLD

ABG reports net profit for H1 on back of increased production, reduced costs

Bulyanhulu mine London-listed gold producer African Barrick Gold (ABG) reported a net profit of $41-million for the six months ended June 30, driven by increased production and continued cost discipline. ABG CEO Brad Gordon pointed out that the company had now...
25th July 2014
 
PLATINUM

Lonmin ops ramping up, normal levels expected by Q1 2015

Platinum miner Lonmin, which is currently producing at 30% of normal monthly capacity following the end of the five-month-long strike by members of the Association of Mineworkers and Construction Union (AMCU), expects to increase output to 80% of...
25th July 2014
 
FINANCIAL RESULTS

Anglo delivers ‘pleasing’ results despite headwinds

Mark Cutifani Despite the headwinds faced by diversified miner Anglo American during the first half of the year, the group had delivered a “pleasing” performance at all its operations barring platinum. Anglo American CEO Mark Cutifani on Friday said the...
25th July 2014
 
COPPER/GOLD

Northparkes life extension project approved – China Molybdenum

The life of mine extension at the Northparkes copper/gold mine, in New South Wales, has been approved by the federal and state governments, the operating arm of China Molybdenum said on social media. China Molybdenum acquired an 80% shareholding...
25th July 2014
 
Coal

Rio Tinto reportedly selling Moz coal asset to Indian company

It has been reported from New Delhi that India’s International Coal Ventures Private Limited (ICVL) was set to buy 65% of the Benga coal operation in the Tete province of Mozambique as well as two other coal projects – Tete East and Zambeze...
25th July 2014
 
CAPITAL RAISE

Pilbara raises cash for tantalum project

ASX-listed Pilbara Resources has raised A$2.6-million through a share purchase plan (SPP) to advance the Tabba Tabba tantalum project, in Western Australia. The junior miner said on Friday that the SPP, which had closed on July 23, had raised...
25th July 2014
 
 
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