South Africa’s diamonds dynasty kissing the business good bye

The Oppenheimers, the dynasty involved in South Africa's diamond industry for a century, sold their 40 percent stake in De Beers to Anglo American.

Reuters | November 25, 2011 | 3:29 pm

Stock futures lower as shares eye worst week in 2 months

Stock index futures fell on Friday with equities eyeing a seventh straight session of losses, their longest losing streak in four months, as investor fret about global growth and the euro zone's debt crisis.

Reuters | November 25, 2011 | 1:39 pm

Peru government urges calm before Newmont protest

Peru's government urged opponents of Newmont Mining's proposed $4.8 billion Conga gold mine project to refrain from violence during a protest scheduled for today as President Ollanta Humala scrambles to solve the bitter dispute.

Reuters | November 24, 2011 | 12:22 pm

China’s Minmetals extends offer for Anvil to Dec 9

China's Minmetals Resources Ltd has extended its $1.3 billion takeover offer for Africa-focused copper miner Anvil Mining Ltd by two weeks to Dec. 9. This comes after Anvil warned last month that the offer may not be completed if the company failed to agree with its partner, state-owned Democratic Republic of Congo miner La Generale des Carriere et des Mines Sarl (Gecamines), on contractual arrangements.

Reuters | November 23, 2011 | 11:35 pm

Freeport Indonesia, union discuss wage proposal to end strike

Freeport McMoRan Copper & Gold and its Indonesian union are discussing a possible pay deal to end a three-month strike that has crippled output from the world's second biggest copper mine, which would double pay for some skilled workers.

Reuters | November 23, 2011 | 5:12 pm

Canada competition watchdog clears Rio Tinto bid for Hathor

Canada's competition watchdog has cleared global miner Rio Tinto's C$654 million ($630 million) takeover offer for Hathor Exploration , Rio Tinto said on Wednesday.

Reuters | November 23, 2011 | 1:02 am

Australia’s mining tax passes biggest political hurdle

Australia’s plan to impose a 30 percent tax on its booming iron ore and coal sectors cleared its biggest political hurdle on […]

Reuters | November 22, 2011 | 3:39 pm

BHP Billiton Finance sells $3 billion notes

Nov 16 (Reuters) - BHP Billiton Finance Ltd on Wednesday sold $3 billion of three-part notes, said IFR, a Thomson Reuters service. Barclays Capital and J.P. Morgan were the joint bookrunning managers for the sale. BORROWER: BHP BILLITON FINANCE LTD...

Reuters | November 16, 2011 | 10:27 pm

Goldcorp gets construction approval for Eleonore

Goldcorp said on Monday that the Quebec government has given the green light to its Eleonore project, allowing Canada's second largest gold producer to start full construction at the mine in Northern Quebec. The project, which is located in the James Bay region of Quebec, is expected to boost Goldcorp's output by 600,000 ounces of gold a year, with cash costs under $400 per ounce.

Reuters | November 14, 2011 | 7:08 pm

Copper price surges $164/tonne on rare good news from Europe

Reuters reported that copper surged almost 2% bolstered by a weaker dollar, the better political situation in Italy and a pickup in Chinese bank lending. Benchmark copper on the London Metal Exchange (LME) closed at $7,639 a tonne, about 2 percent up from a last bid at $7,475 on Thursday and the first move up this week.

Reuters | November 11, 2011 | 10:30 pm

Glencore picks off 15% stake in Optimum Coal Holdings

Global commodities trader Glencore (LON:GLEN) is making inroads into South African coal. Reuters reports that Glencore has signed a deal to buy energy trader Mercuria's 15 percent stake in South Africa's Optimum Coal Holdings (OCH) in its drive to acquire the whole company worth around $1 billion, sources close to the agreement said. Completing the Optimum acquisition would make Glencore South Africa's fourth-largest coal exporter, without including Xstrata's tonnage, for which it provides advisory services.

Reuters | November 10, 2011 | 10:40 pm

Australian iron ore magnate Forrest returns to nickel

Reuters Africa reports a company chaired by Australian iron ore magnate Andrew "Twiggy" Forrest wants to reopen a nickel mine in Western Australia shut more than 15 years ago. A successful restart of the Mount Windarra mine by Poseidon Nickel Co , would mark Forrest's return to nickel mining after quitting the board of Anaconda Nickel in 2002 and founding Fortescue Metals Group , Australia's third-largest iron ore company.

Reuters | November 10, 2011 | 6:47 am

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