Mining.com

By Bloomberg News Indians’ love affair with gold is cooling. Imports slumped more than 25 per cent to 54 metric tons in June from a year earlier, a person familiar with the information said, asking not to be identified as the figures aren’t public. Overseas purchases plunged 40 per cent to 343 tons in the […]

By Cecilia Jamasmie Shares in Canada’s Nautilus Minerals (TSX:NUS), one of the world’s first seafloor miners, were hit hard on Wednesday after the owner of the shipyard where the company’s support vessel is being made said it had cancelled the contract with the supplier chosen by Nautilus to build its ships. Fujian Mawei Shipbuilding’s decision

By Cecilia Jamasmie Indonesia has extended a short-term operating permit for Freeport McMoRan’s (NYSE:FCX) vast Grasberg copper-gold mine until the end of July, while discussions over granting the government a majority ownership in the operation are finalized. Coal and Minerals Director General Bambang Gatot Ariyono told The Jakarta Post that the extension had been given

By Frik Els Gold enjoyed one of its best trading days in months on Tuesday, bouncing off its 2018 low struck on Monday. Gold for delivery in August, the most active contract on the Comex market in New York, touched a high of $1,258.50 an ounce in the morning. Surprisingly brisk pre-holiday trading saw 28m

By Bloomberg News (Bloomberg) — Sibanye Gold Ltd. said gold output in South Africa will be 6 percent lower than expected this year while costs will be higher, after a series of fatal accidents disrupted operations. There have been 21 people killed at Sibanye’s South African mines this year, nearly half of the total 47

By Cecilia Jamasmie Brazilian Eike Batista, the former oil and mining billionaire who lost his fortune and spent time in jail last year for alleged corruption, will have to hang about behind bars for the next 30 years. After a corruption trial, the outspoken entrepreneur whose meteoric rise and fall made him the poster boy

By Michael Allan McCrae Press release from Newmont Mining Newmont Mining Corporation (NYSE: NEM) achieved commercial production at its Twin Creeks Underground expansion project located in Nevada. The company says that Twin Creeks Underground mine will add between 30,000 and 40,000 ounces of gold production per year at all-in sustaining costs of between $650 and

By Frik Els Mining and metals investors started the third quarter the same way they ended the second, offloading the sector over fears of the impact of a global trade war. A trade tit-for-tat comes at a bad time just as China, responsible for half the world’s industrial metal demand, enters a period of slower

By Frik Els The price of platinum plunged more than 5% to touch $811.10 an ounce on New York futures markets on Monday, the lowest since July 2004. Platinum is also trading not far off a record discount to sister metal palladium which was pegged at $938 an ounce, and to gold which also continued

By Reuters * Majority stake purchase seen valued at $3.5-$4.0 bln -minister * Govt drafting documentation on taxation, operational control * Deal might be completed in July – official By Cindy Silviana JAKARTA, June 30 (Reuters) – Indonesia’s state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority