Posts by Mineweb:

High diamond prices leading to demand faltering?

Diamond prices continue to soar, with rough prices up 27pc in 2010 to levels higher than before the crisis. Prices have continued to rise this year, but high prices may now be putting buyers off. Anecdotal evidence of this "demand destruction" has started to emerge. On Thursday, sector observer Rapaport noted that, although demand is still strong, caution had entered some markets.
Mineweb | July 4, 2011 | 1:00 pm

Chinese purchase AGC holding in Gold One for A$75m

The Chinese consortium buying a 17.64% stake in Gold One has completed the transaction, the South African gold miner reported on Friday. China’s Baiyin Nonferrous Group bought Navada Trading subsidiary African Global Capital’s (AGC’s) shareholding in Gold One for A$75.6-million at A$0.53 a share.
Mineweb | July 1, 2011 | 9:52 am

Century Mining gold resources guillotined in Micon review

Century Mining's (TSX-V: CMM) defined gold ounces at its Lamaque mine in Quebec dropped precipitously following a Micon International reserve and resource update. Measured and indicated resources fell 75 percent from 2.4 million ounces to 587,000 ounces gold; proven and probably reserves, which were included in measured and indicated resources, were cut by more than half from 1.1 million ounces to 451,000 ounces gold; and inferred resources, meanwhile, dropped over 40 percent to 1.9 million ounces gold.
Mineweb | July 1, 2011 | 5:32 am

Oyu Tolgoi copper/gold mine installing specialist flow monitoring instrumentation

CiDRA Minerals Processing has announced that Rio Tinto has chosen CiDRA's SONARtrac® flow monitoring systems as its preferred technology for use on slurry lines at Oyu Tolgoi in Mongolia. CiDRA will instrument 30 lines at the new concentrator, where the SONARtrac systems should lead to increased accuracy and reduced maintenance costs.
Mineweb | June 30, 2011 | 3:41 pm