Gold price: Fed caught hedge funds on wrong foot
Large speculators on gold futures market slashed net bullish bets by 75% ahead of decision to hold interest rates near zero.
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Omnia appoints new Managing Director of BME
JSE listed Group, Omnia Holdings, has appointed Joseph Keenan as the new managing director of its mining explosives division, BME, as from 1 September 2015. BME is the leading supplier of explosives and services to the African mining, quarrying and construction industries.
Westermo RedFox industrial routing switch certified for hazardous area applications
Westermo announces that the high-performance RedFox industrial Ethernet switch range is now fully certified for use in hazardous areas.
Mongolia struggles to develop Tavan Tolgoi coal mine
Development of the mine, halted by politics and weak government institutions, reflects the resource curse as Mongolia’s Parliament failed to transfer ownership of the coal mine.
Rehabilitation of over 50,000 abandoned mines in Australia to hit taxpayers
According to environmental scientist Peter Erskine, Australia will be left with a bill running into tens of billions of dollars unless the government starts taking mine rehabilitation seriously.
Rare Earth Minerals logs loss, but hopes more Tesla-like agreements to the rescue
The company reported a £1.2 million pre-tax loss in the first six months of 2015, widening from the £191,000 loss reported a year earlier.
Endeavour boosts presence in Africa’s gold sector on deal with La Mancha
The Vancouver-based miner has sold 30% of the company to La Mancha Holding in a deal that will grant it a majority stake in the massive Ity gold mine, in Côte d’Ivoire.
Suncor tightens grip on Fort Hills oil sands project
The project is expected to boost output in northern Alberta by 180,000 barrels a day, with production set to begin by the fourth quarter of 2017.
Newmont, Kinross likely to buy Barrick’s US gold assets
The company's president, Kelvin Dushnisky, said he expects the imminent sale of six U.S. assets to close before the end of the year.
