Cecilia Jamasmie , Senior Editor

Gold Fields Ltd. (NYSE, JSE:GFI) said Tuesday it will dismiss all miners who fail to return to work by Thursday at its KDC West and Beatrix plants, as the company has lost over 65,000 ounces of gold production because of strikes at its South African operations.

Africa-focused Canadian miner Ivanplats Ltd, founded by billionaire Robert Friedland, raised over Cdn$300 million ($305 million) in its initial public offering in Toronto on Tuesday, after selling shares at $4.75 each, on the lower end of the marketed range.

Mining companies with interests in Mauritania will face some challenges, but no major disturbances in the event of a coup d'état in the northwest African country, whose President was shot and flown to France for medical treatment on Sunday, say analysts.

African governments risk harming their own economies by trying to squeeze quick returns from the mining companies in their countries, said Tuesday Randgold Resources’ (LON:RRS) chief executive Mark Bristow. 



Harry Winston Diamond Corp. (TSX:HW, NYSE:HWD) reduced Tuesday its 2012 production target for the Diavik mine to 7.4 million carats as the operation shifts its efforts to concentrate on processing higher-valued diamonds.

Firestone Diamonds (LON:FDI) announced Tuesday the recovery of a batch of very rare type 2 diamonds from its Liqhobong mine in Lesotho as well as an even scarcer blue diamond.

Petaquilla Minerals Ltd. (TSX:PTQ) has rejected as inadequate an unsolicited, a $112-million takeover bid for the company by Inmet Mining Corp. (TSX:IMN), which operates a gold mine adjacent to Petaquilla’s Molejon project in Panama.

Mining executives see lots of more sunny days in 2013 with 55% of participants in a recent survey saying they believe their sector will perform better than it did in the first half of 2012.

Qatar's sovereign investment fund, the second largest shareholder in Xstrata PLC (LON:XTA) with 12% of equity, confirmed Monday it is looking positively at the company's planned merger with Glencore International (LON:GLEN).

Brazilian giant miner Vale (NYSE: VALE) is about to close a $500 million loan agreement with the Inter-American Development Bank (IADB) for its Rio Colorado potash project in Mendoza, Argentina.