A strike at Gold Fields' [JSE:GFI] KDC gold mine is likely to continue on Moinday, the mine said on Sunday afternoon.
South African gold producers are expected to report lower quarterly earnings with production knocked across the board as output-disrupting safety stoppages continue to sting, a Reuters poll of 7 analysts showed.
The board of Indian state-owned company Coal India will decide in Kolkata tomorrow whether to go ahead with a controversial possible joint venture with the Limpopo provincial government.
Later this month Coal India Ltd (CIL), the world's biggest coal producer, will sign an agreement with the Limpopo government in terms of which it will receive mining rights on various coal blocks in that province.
South Africa's coal exports are surging into 2012 just when top spot buyers China and India are out of the market and supply bottlenecks elsewhere have eased, so it will have to fight for market share, eroding prices in a fundamentally weak landscape.
Fin24 reports South Africa's gold mining industry is under such cost pressure, owing to gold reserves that are too deep to be mined profitably, that within a decade or two this could mean the end of the industry. That's why there is great excitement about a promising new technology which could make deep underground mining possible and ensure the future of the industry. The world's deepest mine is AngloGold Ashanti’s Mponeng, which extends about 4 km (2.5 miles) underground. To be able to mine much deeper than this, where millions of currently inaccessible – or uneconomic – fine ounces of gold lie, would require a breakthrough. Significantly, AngloGold was recently the first group to herald such a breakthrough with an apparently large degree of certainty.
Mumbai - India's Tata Steel on Friday reported quarterly net profit nearly tripled, led mainly by a one-time gain from a stake sale, and voiced concern about weakening markets in Europe and North America.The company posted a consolidated net profit of
Is it too late to buy gold?