A few weeks after explorer Pearl Gold officially inaugurated its Kodieran gold mine, in Mali, a delegation comprising the company’s management and supervisory board visited the project to inspect the effect of recent political unrest in the country on operations.
With Rio Tinto broadcasting that it is joining bigger rival BHP Billiton in considering selling its diamond businesses, analysts said on Tuesday the diversified giants might rather combine the assets and list them.
Vancouver-based Tasman Metals on Wednesday published the results of a scoping study at its Norra Karr rare earths project in southern Sweden, sketching out a mine that would cost $290-million to build, and have a $1.46-billion net present value.
TSX- and ASX-listed Alacer Gold, the company formed out of the merger of Anatolia Minerals and Avoca Resources early last year, said it made $75-million in net profit in 2011, having produced a revised guidance-beating 411 933 oz of gold.
Nevsun Resources, which owns the Bisha gold mine in Eritrea, made $78.3-million in net after-tax earnings in the last three months of 2011, about 12% lower than the previous quarter’s profit, as output and prices shrunk.
Franco-Nevada Corporation, the biggest gold royalty and streaming company, swung $105.4-million into the red for the fourth quarter, after the Toronto-based firm suffered $169.9-million in impairment charges.
An Indian government task force comprising representatives of steel, mines, forest and environment ministries was working on modalities for levy of a Forest Development Tax (FDT) on minerals mined from forested regions.
TSX- and JSE-listed Rockwell Diamonds on Monday reported the successful completion of “robust” negotiations with black economic-empowerment (BEE) partner Africa Vanguard Resources (AVR) following a restructuring of the deal.