Rio Tinto’s first-half profit soars 93%, investors getting $3bn back

Global gold miner AngloGold Ashanti reported record earnings in 2010, and credited higher gold prices for the stellar results. In a suite of reports released today, the South Africa-based company said it earned US$787 million last year, up from $708 million in 2009. Revenues were up 41%, from $3.916 billion in 2009 to $5.514 billion in 2010. Image by AngloGold Ashanti

Strait Gold Corporation (TSX-V:SRD), is pleased to report final assay results from a 2000-metre drill program at its Alicia copper-gold project in southern Peru. Highlights include: - 134.0 metres of 0.29% copper, 0.03 grams per tonne (g/t) gold in hole ALC11-16, including 9.75 metres of 1.27% copper, 0.07 g/t gold and 0.032% molybdenite; and, - 18.5 metres of 1.25% copper, 0.15g/t gold, 13.3 g/t silver and 0.012% molybdenite in ALC11-17. Image from Strait Gold Corporation

A Preliminary Feasibility Study says adding a sulphide circuit to the Ҫӧpler project will augment mine production by 2.5 million ounces of […]

Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea. The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.

As Comex gold hit a fresh record high, Societe Generale commodities skeptic Dylan Grice - of the ‘long-term return on commodities is zero' fame - wrote a stirring paean to gold in his latest research report. Marked by his characteristic erudition, with references to gold's use as a hedge in the world of antiquity, Grice's report is worth reading and thinking about.

Congo authorities seized 435 kilos (957 pounds) of gold and $6.5 million in cash in smashing a plot to smuggle the haul abroad from the country's anarchic east, officials said on Saturday. The Democratic Republic of Congo's state prosecutor said five people including an American and two French citizens, as well as an impounded, U.S.-registered Gulfstream jet, had been released after a $3 million fine was paid.

Western Copper (WRN.TO) has begun engineering studies to determine whether it can modify plans that pushed regulators to reject its request for a water use license at its Carmacks copper project in Canada's Yukon Territory. A recent court ruling in the northwestern territory upheld the Yukon Water Board's decision to reject Western Copper's plans, forcing the exploration company to go back to the drawing board.

Silver Quest Resources (TSX-V:SQI) has entered into an agreement with The Yukon Cornelius Syndicate, a staking syndicate whose members are at arm's length to the company, to acquire a 100% interest in 80 quartz mineral claims (YCS Claims) located in the White Gold District, 135 km south of Dawson City, Yukon.

Rambler Metals and Mining PLC (TSX-V:RAB)(AIM:RMM) said it intends to raise approximately £10 million, before expenses, through a placing of 27,777,778 ordinary shares at 36 pence each (approximately CDN$0.57 per share).