On September 26, Zhou Fengqi, a consultant of the National Development and Reform Commission Energy Research Institute, said that the Chinese government will relinquish its control over the trading price of thermal coal.
Approximately 40% of South Africa’s gold production capacity is offline due to the combined impact of the ongoing illegal strikes at Gold Fields and AngloGold Ashanti’s operations in the country.
Alan Chirgwin, general manager of marketing at BHP Billiton's iron ore division, said the company expects economic growth in China to firm up through the rest of the year. He also noted that BHP's long-term view on China is positive.
Solvay is officially opening two rare earth recycling units in France today. The plants obtain rare earths from end-of-life equipment such as low-energy light bulbs, batteries or magnets.
Local residents continue to blockade the roads into and out of the Pierina mine in Peru's Huaraz Province in support of demands for water rights. The mine is operated by Barrick Misquilchilca, a subsidiary of Barrick Gold.
At the Russia Investment Summit, Norilsk Nickel CEO Vladimir Strzhalkovsky said the company looks to obtain licenses for platinum group metals deposits in South Africa to increase its resource base.
According to a Zimbabwe Platinum (Zimplats) statement, the company currently has at least USD 33.8 million in tax liabilities.
Peruvian copper production increased 9.37% YoY in July to 109,916 fine metric tons, according to a report by the Ministry of Energy and Mines.
Nordgold said that it will soon move to buy out the minority shareholders of its 75%-owned subsidiary High River Gold (HRG), a move that could position Nordgold for a full London share listing.
Citigroup has increased its end-of-year price forecasts for gold, silver and platinum by 2%, 5% and 1.5%, respectively.
Industry sources confirmed today that BHP Billiton Limited and Rio Tinto are holding talks with Chinese steelmakers over iron ore lump premiums for 4Q 2012.
Gold Fields Limited announced the appointment of Ghanaian businessman Pierre Charles Coussey as new country manager for the company's operations in Ghana (Gold Fields Ghana Limited and Abosso Goldfields Limited).
Chris Griffith, CEO of Anglo American Platinum, said the company will not consider wage demands by the striking workers.
Gold Fields spokesman Sven Lunsche said the company is considering firing its striking workers.
Endeavour will pay CAD 1.5 million to Gold Reserve in exchange for all claims without admission of liability.
Highland Gold Mining, backed by Russian billionaire Roman Abramovich, has posted weak 1H 2012 financial results. Net profit dropped by 64% to USD 45 million despite revenue growth of 2.1% to USD 161 billion.
Government officials told reporters today that Zambia aims to start publicly declaring the entirety of its mining revenues by the end of this year amid heightened efforts to increase transparency throughout the sector.
Russia's Polyus Gold and Norilsk Nickel have expressed interest in developing gold reserves in Kyrgyzstan, a Russian official said.
Centerra Gold Inc. announced that its Boroo mine, located in Mongolia, has received regulatory approval for its mine plan for the heap leach facility and therefore now has all required permits to resume heap leach operations.
Centerra Gold Inc. announced today that the mill at the Kumtor mine resumed operation on September 18, 2012 following a planned seven-week shutdown.
The Environment Centre NT (ECNT) and the Australian Conservation Foundation recently accused Energy Resources of Australia Limited (ERA) of expanding operations at its Ranger 3 Deeps project without environmental assessments.
With due consideration of the requisite sales dip in March-August aimed at preserving the price stability on the market, ALROSA forecasts consolidated sales by ALROSA Group to reach USD 4.5 billion in full year 2012.
Striking miners at Lonmin's Marikana platinum mine rejected a 20% wage increase offer from the company. The offer increases the base pay of an entry level worker to around ZAR 5,500 (USD 660) up from ZAR 4,600 (USD 557.5) at present.
Zambian Finance Minister Alexander Chikwanda told reporters today that the government will invest USD 120 million to rehabilitate a railroad line between the largest producer of copper in Africa and South Africa.
Anglo American plc announced today the completion of its sale of a 4.1% stake in Anglo American Sur to Codelco and Mitsui following clearance of the transaction by competition authorities in Brazil.