Mining

“See the guy at the end of the bar?  Did ya notice that he has taken nary a sip?  See how his head is leaning over his glass?  Look closer.  He’s not drinking.  He’s just crying. You see, he bought shares in Bumi (LSE:BUMI) about a-year-and-a-half ago.  Put his life savings in, as I understand, […]

A day after Lonmin workers went back to resume working the mines at Rustenburg, miners at one of the mines of the world’s third largest gold producer failed to report last night and instead held a strike, confirming fears the labour unrest in South Africa is spreading across the mining industry. “An unprotected strike at […]

Platinum producer Lonmin plc (LSE:LMI) confirmed it has reached an agreement with the representatives of the disgruntled miners at its Marikana mine in Rustenburg, putting an end to the six-week strike that claimed 45 lives and cost multi-million pound losses for the world’s third largest supplier of the precious metal. “Following an all-inclusive negotiation process […]

Crowds cheered at a football pitch in South Africa but not to support its favourite team. The audience were Lonmin (LSE:LMI) miners, who finally gave in and compromised to a 22% increase in wages announced by their representatives in the negotiation with management that is hoped to bring the six-week strike, which claimed 45 lives, […]

Latin America-focussed precious metal explorer Condor Gold (LSE:CNR) exceeded its target resource base from its La India Project in Nicaragua but the standard used was that of the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM), the company said today. In a statement, Condor stated it now has over 2.4 million ounces of gold at […]

I first tipped AIM listed gold explorer and producer Shanta Gold (LSE:SHG) at 21.5p in July 2011. In my most recent performance stats (August 31st) it is in there at 20.5p but the shares are today trading at 29.25p and are still, very cheap. The Tanzanian based company is valued at £93 million, has cash […]

Lonmin (LSE:LMI), the world’s third largest miner of platinum announced yesterday that is had “presented an offer to the employee delegate” of the miners who have been on strike for just over a month now.  The workers have been waiting for feedback before continuing negotiations. The strike action last month had employees so enraged that […]

Zimbabwe-focussed African Consolidated Resources plc (LSE:AFCR) is to commence a bankable feasibility study (BFS) this month with the aim of achieving a 100,000 ounces a year production capacity from one of its gold projects in the country. The natural resources explorer announced its plan following a sixfolds increase of its revised JORC-compliant resource estimate at […]

Shares of dually-listed Thor Mining plc (LSE:THR) (ASX:THR) rose unusually high on the Australian Stock Exchange earlier today and prompted the regulators to initiate an inquiry and suspended trading of the miner’s securities. Regulators on the Australian Stock Exchange suspended trading of dually listed Thor Mining plc earlier today, following greater than usual share price […]

Labour unrest has reached the perimeters of the world’s largest producer of platinum as Anglo American plc’s (LSE:AAL) subsidiary suspended operations at its Rustenburg mines to “protect the safety and security of its employees from outside intimidation”. In a statement released shortly after 2:00 PM GMT, Anglo American said its 80% owned Anglo American Platinum […]