Thursday, February 16, 2012

MINEWEB.COM'S TOP STORIES: Kinross's "great gold mine" takes big bite out of profits

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These selected stories represent only a fraction of the news and analysis featured and updated all day on Mineweb.com - check out our home page for the rest of the news and expert analysis now available at www.mineweb.com

 

FEATURED PODCAST                                                     

Gold's year of two halves -Marcus Grubb

The World Gold Council has just released its Gold Demand Trends for the full year 2011 and the MD for Investment, Marcus Grubb, picks through the main trends
 

TOP STORIES | Thursday , 16 Feb 2012                                                     

Kinross's "great gold mine" takes big bite out of profits

In spite of a US$2.94 billion write-down in 2011, Kinross Gold has raised its semi-annual dividend from 6-cents to 8-cents per common share.    Thursday , 16 Feb 2012

Escondida output sinks to lowest levels in almost 10 years

Lower ore grades and an illegal strike pushed output from Chile's Escondida mine down 24.6% for 2011.    Thursday , 16 Feb 2012

Goldcorp achieve record earnings as reserves increase for 8th year

Goldcorp reported its eighth consecutive year of gold reserve growth in 2011 with 64.7 million gold ounces, as well as one of the largest silver reserves in the industry.    Thursday , 16 Feb 2012

AngloGold CEO says Warren Buffett just doesn't understand gold and gold investors

Mineweb's Editor-in-chief, Alec Hogg, interviews AngloGold Ashanti's Mark Cutifani and hears some forthright views on Warren Buffet's most recent attack on gold.    Thursday , 16 Feb 2012

Interest in juniors picking up but, above-average assets are a must

Analysts tell Mineweb that in 2012 risk investors are back - just a little - but are turning their nose up at projects with high geopolitical risk.    Thursday , 16 Feb 2012

Agnico-Eagle mine writedown offset gains

The company's latest quarterly results show a net loss of $601.4 million, as a partial writedown of the value of its Meadowbank mine in the Canadian Arctic offset gains from a surge in the gold price.    Thursday , 16 Feb 2012

Rustenburg labour disruptions cost Implats R1.2bn

CEO David Brown said Thursday the illegal worker strike at its Rustenburg platinum operations in South Africa cost the company R1.2 billion in revenue.    Thursday , 16 Feb 2012

Sundance shares plummet on further takeover delays

Sundance Resources said Thursday approvals for its Mbalam project are only likely to come in 2 months, further delaying a $1.4bn bid by Hanlong.    Thursday , 16 Feb 2012

Analysts unsurprised at 21% drop in Vale's Q4 net income

Rio de Janeiro-based Vale reported on Wednesday a 21% drop in its fourth-quarter net income, in line with analysts' expectations on the back of falling global iron-ore and metals prices.    Thursday , 16 Feb 2012

Galway hits 1kg g/t gold in Colombia drillhole

More drilling results from Galway Resources add to a growing basket of high-grade gold intercepts at the historic El Volcan mine in Colombia.    Wednesday , 15 Feb 2012

AngloGold chair calls for collaboration on mine safety stoppages

AngloGold Ashanti at the release of its full year results presentation said it has lost 73 000 ounces of gold as a result of section 54 stoppages enforced by the Department of Mineral Resources (DMR) last year.    Wednesday , 15 Feb 2012

Gold hit 14-year highs in 2011 on China, central banks buying - WGC

The World Gold Council reports that demand for gold hit 14-year highs last year, driven by record investment, buying in China and central bank purchases, which leapt to their highest in at least 40 years.    Thursday , 16 Feb 2012

In endgame scenario, central banks will flood the system with paper

David Levenstein says that while the timing is impossible to predict, when the current situation comes to a head, central banks will be forced to print money to avoid a series of defaults and gold will benefit.    Wednesday , 15 Feb 2012

Yesterday's Top Story: Diamonds from Zimbabwe shine in India

Cheap roughs from Zimbabwe have bowled over diamantaires in India, leaving diamond giants Alrosa, De Beers and Rio Tinto struggling under price and selling pressure.    Wednesday , 15 Feb 2012

PODCASTS / RADIO                                                     

For gold, the pressure is upwards - Gibson

The yellow metal is currently range-bound and, while the pressure is upwards, Edison's Charles Gibson says, there is a feeling that the upward only trend is coming to an end.

Platinum Group Metals new discovery- Michael Jones

PGM CEO Michael Jones talks about the prospects of a new reef with "interesting" metal ratios the company has discovered on north limb of the bushveld complex

ANC's mine nationalisation study - Leon

Webber Wentzel's Peter Leon discusses the proposals outlined in the recently completed ANC research study on nationalisation

Iron ore growth rests on Chinese demand- Ericsson

RMG founder, Magnus Ericsson, forecasts that with China creating so much demand for iron ore, the outlook remains very positive at least for the next decade

 

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he organisers of the world's largest mining investment event, Investing in African Mining Indaba, will bring its successful business event platform to Asian soil: Investing in Asian Mining Indaba will be held 29-31 October 2012 at the Marina Bay Sands Singapore, www.AsianMiningIndaba.com. The An... Read More
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The San Francisco Hard Assets Investment Conference offers the attendee advice on resouce sector investment and the chance to meet many of the companies involved. Read More

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ENGINE ROOM

Editorial

Europe

Lawrie Williams, London
Geoff Candy, Groningen

Americas

Dorothy Kosich, Reno
Kip Keen, Halifax, NS

Asia and Australasia

Shivom Seth, Mumbai
Ross Louthean, Perth
Kerry Stevenson, Sydney

Africa

Christy Filen, Johannesburg


Sales and Marketing
Jan Chadwick, International
Wendy Hora, Australasia

 

Production

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Editor in Chief

Alec Hogg, Mooi River, SA

 

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