Cecilia Jamasmie , Editor-in-Chief

De Beers expects dull year for diamonds despite sales increase of 27%

Diamond demand will slow down significantly in 2012 said today De Beers SA, the world’s largest supplier of rough diamonds, due largely to the weak global economy.

Cecilia Jamasmie | February 10, 2012 | 2:39 pm

DiamondCorp walks away from its Botswana kimberlite project

DiamondCorp (LON:DCP), the African diamond mine development and exploration company, will not proceed with further exploration in Botswana due to the recovery of low grades in the area, announced the company today.

Cecilia Jamasmie | February 10, 2012 | 1:50 pm

ABB completes acquisition of Mincom

Swiss engineering company ABB, through its subsidiary software developer Ventyx, announced that it has completed the organizational integration of Mincom, an Australian leading global supplier of enterprise asset and work management software, following the company’s acquisition in May 2011.

Cecilia Jamasmie | February 10, 2012 | 12:43 pm

Japanese firms to enter the lithium industry in Chile

Japanese companies such as Samsung, Toyota, Mitsubishi and Sumitomo are evaluating the recently opened option to tap into the lithium industry in Chile, local newspaper Diario Financiero published on Thursday.

Cecilia Jamasmie | February 9, 2012 | 8:14 pm

Southern Copper delays $1 billion mine opening in Peru

Record annual earnings of more than $2 billion released today by key global copper producer Southern Copper Corp (NYSE:SCCO), were overshadowed by the company’s decision of pushing back the beginning of its operation at the $1 billion Tia Maria project until 2015.

Cecilia Jamasmie | February 9, 2012 | 6:04 pm

Canaccord to raise a US$1-billion fund for Chinese investment in natural resources

Canadian merchant bank Canaccord Financial Inc. (TSX:CF) stocks were up almost 3 percent this morning after the company announced this morning that it will partner with the Import Export Bank of China to raise a US$1-billion fund promoting Chinese investment in natural resources around the world. The statement followed Canada’s Prime Minister Stephen Harper announcement of a series of multibillion-dollar trade and business deals, setting the table for a possible free trade agreement between Ottawa and Beijing.

Cecilia Jamasmie | February 9, 2012 | 4:10 pm

BHP Billiton expects “significant increase” in copper production at Escondida mine in Chile

BHP Billiton (NYSE: BHP), the world’s largest mining company, expects to increase production at its Escondida copper mine in Chile to over 1.3Mt/y in the 2015 financial year, said CEO Marius Kloppers yesterday in a webcast to discuss fiscal H1 results.

Cecilia Jamasmie | February 9, 2012 | 3:13 pm

Teck Resources profit lifted by soaring coal prices

Canadian miner giant Teck Resources (TSX:TCK.B) reported Thursday a record annual profit of $2.7 billion, up by half from 2010, fuelled mainly by higher coal prices.

Cecilia Jamasmie | February 9, 2012 | 2:08 pm

Codelco forced to disclose Mitsui loan contract

A Chilean civil court ordered world's largest copper producer Codelco to publish the agreement for a financing deal of up $6.75 billion with Japan's Mitsui & Co. (TYO:8031), reports the online version of local newspaper El Mercurio.

Cecilia Jamasmie | February 8, 2012 | 6:00 pm

Peru no longer the second major silver producer — Minister

Peru's Mines and Energy Ministry (MEM) reported a drop in the 2011 production of the country’s major export metals, including silver, copper, gold, lead, tin and zinc. Silver production fell 6.22% in 2011, compared to 2010; followed by copper (0.96%) and gold (0.04%). In contrast, iron ore and molybdenum production increased

Cecilia Jamasmie | February 8, 2012 | 4:33 pm

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