Mining

Glencore International and Xstrata announced  a “merger of equals” to create a major natural resources group to form a combined market equity of market value of US$90 billion. The merger, according to Ivan Glastenberg, Chief Executive Officer of Glencore (LSE:GLEN) and a Non-Executive Director of Xstrata, will create a “new powerhouse in the global commodities […]

Ferrex Plc (LSE:FRX) published a Resource Drilling update on its operations in Africa prompting a share price increase of 18.07% on volume of 4,005,513 by late-morning trading. Update on Operations Dave Reeves, Ferrex Managing Director, summarised the positive report saying that two projects in particular, the Nayega Manganese Project in Togo and the Malenane Iron […]

Iron ore producer London Mining (LSE:LOND) sends off its’ first ship loaded with 49,656 wet metric tonnes (“wmt”) of iron ore from their Marampa Mine in Sierra Leone, which is bound for Europe. This is the first of the three shipments scheduled to deliver London Mining’s produce, with the second ship bound for China and the third to be provided to Glencore, […]

Anglo American (LSE:AAL), one of the world’s largest mining companies, today said its production of iron ore and copper shot up in the fourth quarter of 2011.   However, the company said its’ diamond and platinum production lowered during the same period. How the metals performed The globally diversified miner reported a 5% increase in iron […]

West African Minerals Corporation (LSE:WAFM) today announced it would let go of its wholly owned subsidiary Ferrum Centrafrique to AXMIN Inc., the Canadian-based gold exploration and mining company. Ferrum Centrafrique is legally registered in the Central African Republic and it has built a portfolio of iron ore assets in Africa. Reasons for the disposal Ferrum […]

Shares of gold explorer and producer Pan African Resources (LSE:PAF) are trading 8.1% higher than yesterday’s close to 16.75 pence after the company released Wednesday its earnings per share (EPS) topped 83% more than last year’s 0.55 pence for the six month period ending 31 December 2011. Headline earnings per share reached 93% higher than the previous […]

Caledonia Mining (LSE:CMCL) is aiming to produce 40,000 ounces of gold in 2012 from Blanket Mine, Zimbabwe. This projection is due to the impressive results the company realised in 2011. Blanket Mine is situated at about 150 Km south of Bulawayo, which is Zimbabwe’s second city. The mine was acquired from Kinross Gold in 2006. […]

Goldplat plc (LSE:GDP), an AIM-listed gold producing and exploration company, released operational updates today reflecting positive developments in its’ mining projects and processing plants in Africa. Speaking on behalf of the company, CEO Demetri Manolis expects to increase the total mining resource from three mining projects to be “in excess of 1 million ounces of […]

BHP Billiton (LSE:BLT), the world’s largest mining company, is predicting increased iron ore production in the current financial year, disregarding earlier predictions of a slowdown in the global economy. The prediction comes as BHP reported that its second-quarter iron ore production increased by a better-than-expected 22% . The company said ore production was 41.1 million […]

Jubilee Platinum (LSE:JLP), a platinum producer operating in South Africa, saw its shares soaring to a third of its’ previous close. JLP stocks are trading at 16.35p as of press time, up by 4.125p from last Friday’s close. An article about the potential of the company referred the share price of JLP as a “bargain” […]