Posts by IOL:

Kazakhstan mining giants seek to placate simmering labour dissent

At 65, Pavel Shumkin says he has lived a decade longer than the average coal miner in Kazakhstan. He recalls a time when he drank beer with his bosses after ascending, face blackened, from the coal face. "Now, these bosses have billions and I have...

AngloGold launches $750 million syndicated loan

South African miner AngloGold Ashanti has launched a $750 million, five-year loan to its existing lending group via coordinators and bookrunners Barclays and Bank of Tokyo-Mitsubishi UFJ, banking sources said on Thursday.

AngloGold keeps Mariana stake

AngloGold Ashanti (ANG), Africa's largest gold producer, now holds a 19.9% stake in exploration and development company Mariana Resources.

SA gold stocks underpinned by Harmony

South African gold stocks tick higher despite a fall in spot bullion prices after the country's third-largest producer reports a jump in third-quarter earnings.

De Beers inks new 10-year deal with Botswana

Diamond producer De Beers said on Friday it had signed a new 10-year contract for the sorting, vaulting and sales of the diamond production of Debswana, its joint venture with the government of Botswana. De Beers, 45 percent-owned by global miner Anglo

AngloGold condemned for shooting

AngloGold Ashanti (ANG), the world's third largest gold producer, is in trouble with a human rights group in Ghana after the shooting of a civilian by private security at its Obuasi Mine.

Cash-for-gold frenzy fades as bullion surges

Handing out flyers at the corner of 47th Street and Fifth Avenue in New York City's Diamond District, Mariabi Peenya is having trouble finding passersby eager to sell their gold jewelry for cash.

Mine worker dead at AngloGold mine

A mine worker was killed and another injured in a seismic event that triggered a fall of ground at AngloGold Ashanti's Mponeng mine. ||| A mine worker was killed and another injured in a seismic event that triggered a fall of ground at AngloGold

SA gold miners down as strike looms

Shares of South Africa's gold miners slide, as investors brace for an industry-wide strike that is expected to begin on Thursday and potentially cost $25 million a day in lost output as bullion trades near an all-time high. As many as 100,000 workers at

Looming strike hits shares of gold producers

Gold mining shares fell yesterday as strikes loom in the sector. AngloGold Ashanti lost 3.13 percent to R293.27, Harmony Gold slid 2.78 percent to R94.30, and Gold Fields fell by 2.60 percent to close at R104.20.

Gold on high on threat of US default

Gold hit a record high for the second day running yesterday on rising fears of debt default and future inflation. Spot metal touched an intraday best level of $1 594 (R10 933) an ounce and set a record fix of $1 592.50 in the morning in London before dropping back to $1 590.50 at the afternoon fix.

South Africa gold output in first quarter slumps 9.3%

In the first quarter of 2011 South Africa's gold production increased by 3.4% to 44,682.7 kilograms, when compared to the same quarter of 2010, the Chamber of Mines said Friday. However, on a quarter-on-quarter basis when comparing the first quarter 2011 to the fourth quarter of 2010 production was down by 9.3%.