Mining

Construction and mining equipment maker Caterpillar Inc. (NYSE:CAT) today reported a 67% increase in its second-quarter profit, driven by increasing demand for its equipments. The Peoria, Illinois-based company also raised its outlook for the full year, sending the stock higher in early trading today.

Heavy trading on the stocks of Rare Earth Minerals plc (LSE:REM) was seen early today following the company’s announcement it has been awarded three exploration licences in Greenland. In a statement, REM said the three licences, acquired through the “significant effort from the board”,  cover an area of about 832 square kilometres, two of which […]

Shares of Russian gold mining group, Petropavlovsk (LSE:POG), gained 32.90p, increase of 8.64%, to 413.80 by mid-morning today on the London Stock Exchange.  Investors were apparently happy with the company’s half-year Trading Update released this morning. Sometimes All that’s Gold Doesn’t Glitter The company’s share price has been in a slump, as have other commodity […]

Precious and base metals miner Mwana Africa plc (LSE:MWA) has more than doubled its gold production from its Zimbabwe mine for the first three months of the current financial year, as against the same period a year ago. In a statement released today, the AIM-quoted Africa-focussed resource company said it produced some 17,985 ounces of […]

Diversified global miner Anglo American plc (LSE:AAL) has secured the nod of South Africa’s Minister of Mineral Resources Susan Shabangu in the US$5.1 billion acquisition of the Oppenheimer’s 40% stake in De Beers. The deal, announced in November 2011, will make the London-listed group the largest diamond producer by value, once it completes in the […]

Central America-focussed gold explorer Condor Gold plc (LSE:CNR) said its La India mining project in Nicaragua has the potential to support an open pit mining, sending the shares of the AIM-listed company to the top of the trading board in London today. Further results of the ongoing 7,000-metre drill programme showed “bonanza” gold grades referred […]

UK-incorporated gold exploration, production, and development company Allied Gold Mining plc (LSE:ALD) topped the trading board on the London Stock Exchange today following an offer to acquire the company that nearly doubled its market value. St. Barbara Limited (ASX:SBM), also a gold producer and explorer listed on the Australian Securities Exchange (ASX), offered to acquire […]

Global commodities giants Xstrata plc (LSE:XTA) and Glencore International plc (LSE:GLEN) have agreed on new terms of the management incentive arrangements in relation to the multi-billion pound merger of the two London-listed companies, in an effort to appease angry investors over pay packages of the top executives days before their shareholders decide on the fate […]

Coloured gemstones producer Gemfields plc (LSE:GEM) dropped 7.6% at the London Stock Exchange today following the results of the auction held by the company in Jaipur, India, which only sold a little more than a third of all the emeralds placed on offer. The Zambia-focussed explorer, miner, and seller only sold 3.47 million out of […]

Rio Tinto (LSE:RIO) shares were up 49.50 pence to 3,100.50 today as the company dominated financial headlines on several continents.  Rio’s share price had been in decline since 03 February through to 01 June, when it reached a low of 2,772.  As the upward trend continued today, it may be that long-haul investors are on-board […]