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Anglo American Will Sell Mining Assets And Cut Management Layers After Xstrata Down Bid $ 48.2 Billion
Anglo American has started reorganizing since taken over in 2007. Anglo will reset the company management and will sell a number of mining assets owned by Anglo. Assets to be sold mines zinc mining, steel production assets Scaw Metals.
South Africa Mining Production Fell 7.3 Percent, Gold Mine Droped 12.2 Percent
Statistics South Africa reported the production of the mining sector fell 6.3% to June, with gold mining production fell 12.2% and nongold production decreased 6.4%. The development of mining production for the second quarter from year to year increase, but this year until the end of June production of the mining sector declined.
Antioquia Gold Drilling Colombian Assets
Colombia has emerged as a prolific source of new gold deposits during the last several years, and Antioquia Gold Inc. is the latest TSX Venture listed company to begin exploration there. Antioquia controls a 100% interest in 6 mining concessions covering a total of 279 hectares (Guayabito) and a 90% interest in 2 additional [...]
Mining Company Earning Reported : Anglo American First-Half Profit Has Fallen 30.6 Per Cent
Global mining giant Anglo American’s first-half profit has fallen 30.6 per cent because of weak commodity prices.
Net earnings dived to $US2.97 billion (about $A3.56 billion) in the six months to June, compared with $US4.28 billion in the same period last year. Revenues sank 37.9 per cent to $US11.13 billion.
Gold Prices Increase To in London as China Increase Gold Mine Reserves and Prodution
Gold rose to a three-week high in London, heading for its first weekly gain since March, after a report that China’s reserves of the precious metal increased 76 percent since 2003.
Mozambique Plans To Become Major Coal Mining Companies
Brazilian mining company Vale has launched a US$1.3bn coal mining project in Mozambique.
The new plant is expected to produce 11 million tonnes of coal a year, to be exported to Brazil, Europe, Asia and the Middle East.
Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Mining Companies Optimistic, Mining Production and Industry Growth on Global Financial Crisis
Despite new data that shows just how much the mining industry has suffered as a result of the global financial crisis, the outlook was optimistic as mining companies and industry followers gathered in Toronto for an international convention Monday.
SNS Silver Signed LoI With Premium Exploration To Develop and Explore Gold Mine in Idaho
SNS Silver Corp. is pleased to announce that it has entered two Letters of Intent with Premium Exploration, to jointly develop and explore two Central Idaho Gold Projects, Buffalo Gulch and Friday/Petsite.
