Mining

The Footsie was helped along today as the share price of Antofagasta (LSE:ANTO) gained 23.00 pence to 1,095 by 12:40 UTC.  The 2.3% gain this morning may be just about enough to push the stock back above its 90-day average again.  The demonstration of investor confidence followed the company’s Production Report for the Second Quarter. […]

Tanzania-focussed gold explorer Shanta Gold Limited (LSE:SHG) has more than doubled its total gold resource from its New Luika Mine and now has 1.4 million ounces of the yellow metal with an average grade of 3.22 grams per tonne, the company said today. The new JORC-compliant report follows the exploration and infill drilling at five […]

Iron ore producer London Mining plc (LSE:LOND) has signed a deal to give 2% royalty from the sales of iron ore from its Marampa Mine in Sierra Leone in exchange for US$110 million upfront cash. BlackRock World Mining Trust plc (LSE:BRWM), a mining and metals securities-focussed investment company, is the other party to the transaction […]

Giant commodities miner Anglo American plc (LSE:AAL) acknowledged the deterioration of the world economy in the “short term prospects” as it reported huge decline in EBITDA and underlying earnings. Releasing its half year results today, the soon to be majority owner of De Beer saw a decline of 31% in EBITDA to US$4.9 billion, while […]

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 […]