October 14, 2011

Colossus bulks up with $75 million bought deal

Canadian-based exploration and development company Colossus Minerals was trading lower in a lacklustre Toronto market on Friday after announcing it had raised $75 million in a bought deal. Colossus is…

October 14, 2011

Northam Platinum: Union Dispute With Zondereinde Division

The management of the Zondereinde division of Northam Platinum Limited advises that the annual wage negotiations with employee representative unions Solidarity and the National Union of Mineworkers (NUM) continued yesterday,…

October 14, 2011

Palladium loses its lustre for traders

FT reports in 2010 the market loved palladium. It was the best-performing precious metal. But, as Barclays Capital points out in a note, 2011 has seen palladium fall off its…

October 11, 2011

Potential Platinum Underwriters (PTP) Trade Has $29.20 Breakeven

Platinum Underwriters (NYSE:PTP) closed Monday's dramatic trading session at $31.95. In the past year, the stock has hit a 52-week low of $28.05 and 52-week high of $46.42. Platinum Underwriters…

October 11, 2011

Contractors strike at Aquarius Platinum’s Everest Mine

A mining contractor at Aquarius Platinum's Everest Mine is on strike. The strike has been called by the Association of Mining and Construction Unions, which is demanding full organizational rights…

October 10, 2011

Barclays analysis says precious metals may handle downturn best

Gold, silver, platinum and palladium, as well as other commodities, generally stand a better chance of handling a global economic downturn than other types of investments, Barclays Capital said Monday.

October 10, 2011

Physical buying from China drives gold rally, safe haven demand absent

Gold for December delivery traded up $37.30, or 2.3%, at $1,673.10 an ounce on the New York Mercantile Exchange in early afternoon trade Monday, after climbing more than $40 earlier…

October 9, 2011

Pyrrhic victory for Mugabe as Rio Tinto gives up control of tiny diamond mine, but likely drops $200 million expansion

News reports on Saturday say Rio Tinto's Zimbabwe subsidiary Murowa Diamonds has ceded 51% of its equity to comply with a new law that requires Zimbabweans to own the majority…

October 5, 2011

North American Palladium to expand flagship Ontario mine

Canada's North American Palladium said it plans to expand its flagship mine in Northern Ontario at a cost of around $75 million for the first phase of the project. Phase…

September 29, 2011

Rusal completes $9.33 billion debt refinancing

As expected the proposal by Norilsk Nickel management to buy back some of the stake in it controlled by Oleg Deripaska’s RusAl has been rebuffed. 29.08, 12:39 The world’s largest…