Posts by Mineweb:

IAMGOLD sells minority stakes in Ghana mines to Gold Fields, faces uncertainty in Burkina Faso

IAMGOLD (TSX: IMG) agreed to sell its 18.9-percent interests in two Ghanaian gold mines, Tarkwa and Damang, to Gold Fields (NYSE: GFI), the majority stakeholder, for $667 million. The company reasoned it hasn't been getting fair value by investors as minority players in mines in which Gold Fields owns the majority stakes. "Our strategy is to invest in mines that we own and operate, as they represent the best return on investment for our shareholders," Steve Letwin, IAMGOLD president and CEO said in a statement.
Mineweb | April 15, 2011 | 11:09 pm

The road to $5000 gold

Fears of inflation and global turmoil have sent precious metals surging, with gold trading near all-time highs and close to $1,500 an ounce. How much further can it climb?
Mineweb | April 15, 2011 | 9:37 am

Regent Pacific offer for BC Iron now back on the table

Seven days after putting Regent Pacific on notice that it should not withdraw its takeover offer, Regent informed BC Iron yesterday that it had entered into a binding mandate letter with Standard Chartered Bank of Hong Kong and Westpac Banking Corporation for $US155 million debt finance. BC Iron said Regent has now advised it will change its recommendation to its shareholders to vote in favour of the acquisition of all BC Iron shares.
Mineweb | April 15, 2011 | 8:18 am

Coeur says Morales Administration won’t nationalize San Bartolomé mine

Bolivian officials says President Evo Morales will announce on May 1 that he is dismantling Bolivian mining's "privatization model" and will nationalize former state-owned mines. Coeur d'Alene Mines announced Thursday that it has received assurances from the Morales Administration that its San Bartolomé silver mine is not targeted for any proposed mining nationalization in Bolivia.
Mineweb | April 15, 2011 | 7:24 am

Silver stocks fall on Bolivian nationalisation fears

The shares in some North American silver miners fell sharply on Thursday after Bolivia's leftist government said it might rescind concessions on four mines in the country run by Glencore International Ltd [GLEN.UL] affiliates and Canada's Pan American Silver Corp (PAA.TO: Quote)(PAAS.O: Quote).
Mineweb | April 15, 2011 | 7:01 am
finance books mining

Greystar shareholders clean house over Angostura mine project delays

After years of frustration, Greystar Resources shareholders successfully campaigned to dump CEO Steve Kesler and the board of directors in the aftermath of continued delays in its Angostura gold-silver project in Colombia. Greystar (TSX, AIM: GSL) has been working on the development of Angostura for 15 years, investing C$153 million thus far in the US$1 billion project.
Mineweb | April 15, 2011 | 6:14 am
Wednesday frenzy for gold stocks

Glencore to seek as much as $12.1bn in London, Hong Kong IPO

Glencore International plc plans to raise up to $12.1 billion in a London and Hong Kong IPO, according to a term sheet seen by Reuters on Thursday, cashing in on a resources boom and giving the trading giant the fire power to grow through acquisitions. The much anticipated initial public offering, set to value the company at up to $60 billion, will mark the end of four decades of closely guarded privacy for the world's biggest commodities trading company.
Mineweb | April 14, 2011 | 4:49 pm
Gold brick mining

Harmony Gold forecasts drop in March quarter gold production

Harmony Gold (HARJ.J: Quote) said on Wednesday that its gold production for the March 2011 quarter would likely be two percent lower than the previous quarter mainly due the impact of the Christmas break. It did not give figures in a brief guidance to investors but it said cash operating costs remained steady and capital expenditure was contained during the quarter.
Mineweb | April 14, 2011 | 8:50 am