Mining

Britain’s largest coal producer UK Coal plc (LSE:UKC) has reached an agreement in principle with its key economic stakeholders to restructure the business after the first half of the year showed a “disappointing performance”, the company said today. In a statement, Chairman Jonson Cox said “a restructuring of the business was necessary to secure a […]

Randgold (LSE:RRS) took the opportunity to thump its chest today as it reported second quarter results that were, quite frankly, golden.  Regulatory reports are usually quietly reserved as though they had been prayed over before leaving the bean-counters’ offices.  Randgold’s report begins with a headline that says “RANDGOLD FIRES ON ALL CYLINDERS TO DELIVER ANOTHER […]

Iron ore producer Bellzone Mining plc (LSE:BZM) has signed an offtake agreement with commodities giant Glencore International plc (LSE:GLEN) to supply all its iron ore produce in Guinea, the company said today. In a statement, the company said all of its 50% share in the Forecariah Joint Venture (FJV) project in the West African country […]

Lower commodity prices coupled with the uncertainty in Europe and the United States have hit another heavy trader of metals as the world’s second largest mining firm, Rio Tinto Group (LSE:RIO), reported a reduction of a more than a fifth of its profit for the first half of the year. Rio Tinto said it made […]

West African diamond miner and producer Stellar Diamonds (LSE:STEL) said today its initial samples from the Droujba Project in Guinea exceeded expectations in both grade and quality and plans to upgrade its resource by the fourth quarter of 2012. According to the company, about 173 carats at an average grade of 188 carats per hundred […]

Internal Memo Goes Public You could almost see it coming as word of an internal memo found its way to the newswires by late morning via The Australian newspaper. The memo from Iron Ore Division president Jimmy Wilson was apparently distributed to several thousand employees.  Essentially the memo was intended to make key employees aware […]

EMED Mining plc (LSE:EMED), gold and copper explorer, has acquired the last piece of land necessary to restart operations of the Rio Tinto Copper Mine in Spain for €5 million, the company said today. The purchase will be satisfied by €1 million in cash at the execution of the Sale and Purchase Agreement, announced today, […]

Gold and copper miner SolGold plc (LSE:SOLG) said today its partner, Newmont Ventures Limited, in the Guadalcanal Joint Venture in Solomon Islands will cease funding the project and will resign as manager of the exploration. Newmont Ventures, a subsidiary of NYSE-listed Newmont Mining Corporation, made the decision after having spent about US$19 million in the […]

Back in Stratford, Australia has just picked up another gold medal in the “Missing quarterly targets men’s relay event” Barry Cahill held the baton for the first 12 quarters before passing it on to Kevin Maloney who stepped in with a blinding finish to ensure that for 13 quarters in a row the AIM and ASXlisted Norseman Gold […]

Gold exploration and mining company Avocet Mining plc (LSE:AVM) said the second quarter of 2012 was a challenging period for the company, as the company revealed reduced gold production and sharp fall on profit. In its unaudited results released today, Avocet’s gold production was down 14% from last quarter’s at 32,917 ounces and 16% lower […]