Mining Headline News

First Quantum to Expand Kansanshi Copper Mine Project in Zambia

A project to expand the Kansanshi copper mine in Zambia by 60% in the next three years has begun, First Quantum Minerals Ltd. said Wednesday. Annual copper production capacity will reach 400,000 metric tons from 250,000 tons currently by the end of 2014. Kansanshi is the world’s eighth largest copper mine and 80% owned by Kansanshi Mining PLC, a First Quantum subsidiary. The remaining 20% is owned by a subsidiary of ZCCM Investment Holdings PLC. The first phase of this increase relates to the expansion of the oxide/leach facilities, which will be undertaken in two stages. Stage one is expected... 

Gold Prices and Production Trend to Increase in Future

World gold-mine production rose in recent years and the trend is expected to continue for the foreseeable future, encouraged by the historically high price of the metal. Nevertheless, some analysts say that mine output has not grown as rapidly as might be expected given a several-fold increase in the price of gold over the last decade. “Mine supply has been growing,” said Joe Foster, portfolio manager with Van Eck International Investors Gold Fund. “Since 2001, gold prices have been going up. But it isn’t until the last few years that we’ve started to see some sort of supply response... 

Barrick Gold Mining Company Reported Gold Production Reached 1.93 million ounces

Gold mining company, Barrick Gold reported results for Q3 gold output in 2011 reached 1.93 million ounces of gold. Costs required to produce an ounce of gold is $453 and net cash cost of $328 per ounce. The Company is on track to achieve its original full year operating guidance and has narrowed expected gold production and cash cost ranges to 7.6 million to 7.8 million ounces at total cash costs of USD 460 to USD 475 per ounce. Net cash costs for 2011 are expected to be USD 330 to USD 350 per ounce reflecting a lower copper price assumption than previously assumed. In 2012, total cash costs are... 

Scotgold Resources Continues to Drill Gold Mine at Loch Lomond and Trossachs National Park

Scotgold Resources, the mining firm focused on extracting gold and silver from the Highlands, yesterday it was continuing to drill gold mine at prospects outside the Loch Lomond and Trossachs National Park – less than a week after winning approval to mine for gold inside the park. In a regulatory announcement to the London Stock Exchange yesterday AIM-listed Scotgold, which has a dual listing on the Australian Stock Exchange, said “drilling continues over identified prospects at Beinn Udlaidh and Auch” projects, most of which sit just outside the park. The company, which is based in Tyndrum,... 

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