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Pan African Resources buys Evander for $178 million

Pan African Resources (LON:PAF) has successfully concluded months of negotiations and has now entered into a deal with Harmony Gold to buy the operating Evander gold mine in South Africa. The acquisition will double Pan African's annual gold production to approximately 200,000 ounces.

Increasing demand from China could see diamonds sparkle, says Merrill Lynch

An increase in demand from Chinese consumers could make diamonds an attractive proposition for investors, according to Bank of America Merrill Lynch

Paragon Diamonds buoyed by positive first results from Motete Dyke licence

Paragon Diamonds (LON:PRG) confidence has been boosted after it received positive results from a first sample sent from its newly awarded Motete Dyke licence in Lesotho, southern Africa.

Energio on the cusp of major iron ore opportunity in Nigeria

Energio ( ASX: EIO ) is developing a world class iron ore opportunity at the Agbaja Iron Ore Exploration Project in Nigeria, which has resource potential of 1 to 2 billion tonnes of iron ore.

Gold posts weekly gains as euro zone optimism undermines demand for US dollar

Gold eased at the end of the week amid a surge in the US dollar, but still managed to post weekly gains after Thursday’s rally on the back of the cancellation of a controversial referendum in Greece.

Zanaga Iron Ore Company shares rise on completion of engineering report

Based in The Republic of Congo, Zanaga is focussed on managing, developing and constructing a world class iron ore project capable of mining, processing, transporting and exporting 45 Mtpa of iron ore concentrate at full production. Full Zanaga Iron Or...

Medusa Mining reports incident at Co-O gold mine, operations unaffected

Medusa Mining Ltd (LON:MML, ASX:MML) said an investigation is being conducted at its Co-O gold mine in the Philippines following an accident last week which killed a miner in a shrinkage stope at the mine.

Gold gains $40 during week as US dollar dips

The price of gold rose sharply this week, adding over US$40 to end Friday’s session at US$1,679 per ounce. Demand for the yellow metal was driven by weakness in the US dollar, which fell against the euro as positive developments in the European debt crisis boosted Europe’s single currency.

Beowulf Mining shares soar as investors buy into iron ore potential

Investors are once again buying into the potential of Beowulf Mining ( LON:BEM ) and its iron ore deposits in Sweden. The stock is up 65 per cent so far this week, with a positive market study lighting the blue touch-paper under a 26 per cent rise in ...

Beowulf Mining positive on Swedish iron ore projects

Beowulf Mining ( LON:BEM ) said this morning that it continues to retain a “positive outlook” for the potential of its flagship iron ore projects as it reported interim results for the six months to the end of June. The firm, which owns several

Mwana Africa raises US$6m to up production at Freda Rebecca gold mine

Mwana Africa ( LON:MWA ) has raised US$6 million to fund its efforts to ramp up production at the Freda Rebecca gold mine in Zimbabwe and take advantage of record high gold prices. The AIM quoted diversified mining company raised the funds by drawing

Fairfax Market Report including Copper Development Corporation,Rio Tinto and Vedanta Resources

Morning View Gold at $1,703/oz and rising – • Gold prices look set to continue to rise to new levels as market volatility and economic uncertainty push money into gold as a safe haven and the most liquid non-paper currency (excepting

Kalgoorlie Mining Company unlocks cash flow potential in ore agreement with Barrick

Kalgoorlie Mining Company, formally known as US Nickel (ASX: USN) through its wholly owned subsidiaries has acquired title to two quality advanced greenfields projects: the Snowbird Project in Northwest Territories, Canada and the Mid-Continent Project

Fairfax Market Report including Medusa Mining, Frontier Mining and Firestone Diamonds

Economic News Japan – Retail sales rose in June beating all forecasts adding to signs that the economy is recovering from the dip on the back of the earthquake. Figures released by the Trade Ministry this morning show that sales rose 1.1% from

Cockatoo Coal secures A$65m loan facility for development of coal assets

Cockatoo Coal (ASX: COK) has entered into a A$65 million loan agreement with KEB Australia Ltd (KEBA) for the ongoing development of the company's coal assets, infrastructure requirements, and working capital.

Auzex Resources infill drilling hits more high grade gold at 2Moz Bullabulling JV Project

Auzex Resources ( ASX: AZX ) has expanded the phase two reverse circulation (RC) resource drilling program at the 2 million gold ounce Bullabulling Gold project to 90,000 metres, intersecting high grade gold that underpins confidence in the project.

BHP Billiton production results in line with expectations – analysts

City broker UBS says global mining firm BHP Billiton's (LON:BLT) June production figures were slightly better than expected and gives the stock an unchanged 12 month rating of a 'buy' with a target price of £28.40. The mining giant released the figures yesterday across the spectrum of its resources, including iron ore production up 14 percent year-on-year in the final quarter.

Legacy Iron under the radar, NMDC transformative for Mt Bevan Iron Ore Project

Legacy Iron Ore (ASX: LCY) is an iron ore exploration company that is based in Western Australia, and is developing the Mt Bevan Iron Ore Project, which has the potential to develop into one of the largest resources of iron ore in the Central Yilgarn.

Toro Energy steps up consolidation of WA regional uranium resources

Toro Energy ( ASX: TOE ) has boosted its Wiluna uranium resources by 25% with the acquisition of the Nowthanna deposit in Western Australia. Toro has paid A$1.3 million in cash and 10 million Toro shares at A$0.15 per share for two exploration

Fairfax Market Report including Goldplat, Ncondezi Coal and Paragon Diamonds

Morning View The QE3 debate is firmly back on the table. • The prospect of a third round of stimulus has pushed gold prices to a record high. • Stalling debt talks in the US add support to gold. • European concerns appear to

Derek Fisher, CEO and MD of Moly Mines, talks about the construction of the Spinifex Ridge molybdenum/copper mine

Derek Fisher, CEO & MD of Moly Mines, talks about the construction of the Spinifex Ridge molybdenum/copper mine, 45 years of production, funding for the power station & gas pipeline, fixed price engineering contract, mining 1 million tonnes of iron ore per year, & netting about A$60-70 dollars a tonne

Coal of Africa shares jump on Vele go-ahead

Coal of Africa (LON:CZA) shares soared after it announced it has finally been awarded environmental authorisation by South African authorities for its key Vele coking project. The company can now move ahead with finishing construction of plant at the

Ferrexpo: Analysts positive on iron ore producer's production figures

Brokers Collins Stewart and Evolution Securities were upbeat about iron ore producer Ferrexpo (LON:FXPO), which released production figures today. The firm reported numbers for the second quarter of 2011 revealing that pellet production from its own ore had increased 6.9 percent compared to Q1.

Coal of Africa secures key approval to restart Vele coking coal project

Perth-based coal miner Coal of Africa (LON:CZA) has secured a key environmental permit from the South African government, clearing a major hurdle on the way to restarting its Vele coking coal project. The approval will allow the company to proceed with construction work at the site following a year long delay due to environmental issues.