Tectonic Metals gets funding for gold exploration in Alaska
The company's Flat gold project is located 40 km north of the giant Donlin gold project.
South Africa’s Impala Platinum Holdings (Implats) said on Thursday that its headline earnings for the 2011 financial year rose 41% as it reaped the benefit of rising prices. The world’s second-largest producer of the metal also said Thursday that it expects output in 2012 to be steady or slightly lower on the year and that costs will likely rise.
Implats accounts for close to 30% of global supply of the precious metal sometimes referred to as white gold, used in vehicle emission systems to reduce pollution and for the manufacture of jewellery. Prices for platinum climbed throughout the year from just over US$1,500 per ounce to end at about US$1,800 per ounce.
Reuters quotes a Johannesburg-based investment analyst: “Costs and safety and Zimbabwe are major concern. Who likes uncertainty? We’ve been sellers of the stock and been tossing them out of core portfolios.”
MINING.com reported last week that Zimbabwe’s government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits.
