LATEST NEWS

METALS DEMAND MAY HAVE HIT FLOOR

For U.S. metals and mining, gold is all that glitters - S&P

Thursday , 02 Jul 2009
Although the financial ratios of U.S. metals and mining companies will continue to weaken, Standard & Poor's expect credit trends to slowly start to improve in the sector during the next several quarters.

WORLD'S TOP 100 MINERS

Beyond Xstrata and Anglo American

Thursday , 02 Jul 2009
With Chinese and Indian stock markets around 12-month highs, the two-tier global mining market gains more divide; 74 of the world's Top 100 mining companies may now be classified under the "developing country" heading.

34 PERCENT RESOURCE INCREASE

Further big boost to Rossing South uranium resource

Thursday , 02 Jul 2009
With a Rossing South Zone 2 resource estimate coming up next month, the latest figures could propel the deposit into one of the world's top ten uranium resources.

STIMULUS PLAN BOOST

China steel output running at record for year

Thursday , 02 Jul 2009
Chinese steel output is booming and June final figures could be close to an all-time record.

10BN TONNE RESOURCE TARGET

African Minerals seeks $2.6bn to finance Tonkolili iron ore mine

Thursday , 02 Jul 2009
African Minerals is talking big numbers on its Tonkolili iron ore project in Sierra Leone saying capex to develop would be $2.6 billion and that the resource could total 10 billion tonnes

NO SUCH PLAN

ANC rejects call to nationalise South African mines

Thursday , 02 Jul 2009
Following a call from the party's youth wing for nationalisation of South Africa's mines, the ruling ANC party's Secretary-General said nationalisation of the country's mines was not on the party's agenda.

THE TREASURE VAULT REPORT

Investor demand to continue to fuel higher gold price-Scotia Capital

Thursday , 02 Jul 2009
Scotia Capital is calling for "much higher gold and silver prices in the second half of the year and in 2010."

RETURNING CONFIDENCE

Strong demand for Rio Tinto rights - Chinalco subscribes in full

Thursday , 02 Jul 2009
Attractive pricing has led to the London element of the world's fifth largest rights issue being taken up almost in full with China's Chinalco taking up its full entitlement.

MANY VARIABLES

Everest platinum mine restart more than a year away - Aquarius

Thursday , 02 Jul 2009
Aquarius Platinum's Everest mine could be more than a year away from resuming production needing an improvement in commodity and currency markets, and completion of its Ridge Mining acquisition.

SHARES MORE THAN DOUBLED THIS YEAR

Vedanta shares rise as buyback programme increased $100m

Wednesday , 01 Jul 2009
Diversified UK headquartered miner, Vedanta Resources, has announced it will extend its share buyback programme from $250m to $350m.

80,000 BARRELS PER DAY

Coal to liquids plant spawns big new Exxaro/Sasol coal mine

Wednesday , 01 Jul 2009
Shares in both companies rose as South Africa's Exxaro Resources said it had formed a jv with Sasol to build a new coal mine to supply the latter's proposed new coal-to-liquids project.

WELL GEARED

Gold output to rise in June quarter, but costs up too for Harmony

Wednesday , 01 Jul 2009
Harmony Gold sees its Q4 gold production up 3%, but anticipates operating cost increases of 8%

OPTION EXERCISED

Hochschild ups Gold Resource stake to 23.9%

Wednesday , 01 Jul 2009
Hochschild Mining has exercised an option to buy 5 million more shares in Gold Resource Corp. The latter will use part of the proceeds to complete construction of its El Aguilar gold project.

HOLD SELECTED COMPANIES TO ADD VALUE

Gold price will rise in real terms - Roulston

Wednesday , 01 Jul 2009
Newsletter writer and analyst Lawrence Roulston provides his thoughts on the outlook for the economy and what factors impact gold and other metal markets. "As the Western world gets back on track," says Roulston, "commodity prices will continue higher." Interview with The Gold Report.

$341.7M REPAID ON $380M FACILITY

Silver miner Hecla pays down debt, loosens credit facility spending limits

Wednesday , 01 Jul 2009
A credit agreement amendment generated by an $18.2m prepayment by Hecla Mining allows the company to spend up to $75 million on exploration and capex throughout 2009.