Cecilia Jamasmie , Editor-in-Chief

De Beers’ profit down 53%; Venetia expansion still going ahead

Profit for De Beers, the world's number two diamond producer after Russia's Alrosa, is down 53% for the first half of 2012 affected by worries over consumer demand and shortage of financing for cutters and polishers.

Cecilia Jamasmie | July 20, 2012 | 9:31 am

Depressed coal prices force job cuts at Rio Tinto’s mine

Rio Tinto (LON:RIO) is looking to reduce costs at its Australia’s Clermont Coal Mine, in central Queensland's Bowen Basin, driven by falling coal prices.

Cecilia Jamasmie | July 19, 2012 | 4:19 pm

Argentine glaciers scupper Osisko’s Famatina project

An Argentine court ruled Wednesday in favour of suspending Famatina, a gold exploration project led by Canadian company Osisko (TSX:OSK), until a new ruling outlawing mining near glaciers is applied in the area.

Cecilia Jamasmie | July 19, 2012 | 3:03 pm

Equity financings for gold companies hit four-year low

Halifax-based Metals Economics Group (MEG) published Thursday its Pipeline Activity Index (PAI), which shows equity financing conditions continue to take their toll, as gold companies were able to raise only $445 million through equity placements in May-June—the lowest two-month total since late 2008.

Cecilia Jamasmie | July 19, 2012 | 1:47 pm

Credit Suisse boosts mining division by luring Morgan Stanley’s top expert

Credit Suisse announced Wednesday it recruited David Hammond, the well-known mining banker from Morgan Stanley, to head up the mining and metals efforts of the Swiss bank worldwide.

Cecilia Jamasmie | July 19, 2012 | 12:54 pm

Chile’s Codelco closer to start $12.8 million phase of El Teniente expansion

Chilean state giant Codelco, the world's largest copper producer, submitted Wednesday an environmental permit request to go ahead with its $12.8 million project to maximize the benefit from ore extracted from El Teniente copper mine, the company’s most profitable division. The initiative is part of the $2.2 billion expansion for El Teniente.

Cecilia Jamasmie | July 18, 2012 | 6:17 pm

Fresnillo gold output record high and miner confident of meeting targets

The world's largest primary silver producer and Mexico's second largest gold producer, Fresnillo PLC reached record gold production levels and says it remains confident that it will meet its gold and silver production targets for 2012.

Cecilia Jamasmie | July 18, 2012 | 5:15 pm

First Majestic’s production in Mexico up 14% in Q2

Vancouver-based First Majestic Silver had a 14% increase in total production at its La Encantada, La Parrilla and San Martin silver mines in Mexico for the second quarter ending June 30 in relation to the same quarter last year.

Cecilia Jamasmie | July 18, 2012 | 4:20 pm

Goa must clean up mining practices or lose heritage destination

A UK Labour MP has moved an “early day motion” in the House of Commons seeking a debate on mining in the Indian state of Goa, calling upon the British government to urge local authorities to address the issue as a matter of urgency.

Cecilia Jamasmie | July 18, 2012 | 3:16 pm

Dark period for Caterpillar: downgraded from buy to hold

Global securities and investment banking group Jefferies downgraded Caterpillar from a “buy” to a “hold” rating, with a price target of $85.00, adding to a series of previous reports affecting the company's stock.

Cecilia Jamasmie | July 18, 2012 | 1:57 pm

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