MINING.COM

Seven coal miners dead after explosion in northern Mexico

An explosion on Wednesday in a coal mine in northern Mexico killed seven miners, officials said, highlighting lax safety conditions in small mines that are often poorly regulated.

Reuters UK | July 25, 2012 | 9:50 pm

Harmony up 7% as punters bet Wafi-Golpu pre-feasibility will map out a Grasberg rival

Release of a pre-feasibility study for Wafi-Golpu in Papua New Guinea is expected any day now and punters hope drilling results that put the deposit into the same league as Freeport-McMoran’s Grasberg mine across the border in West Papua, Indonesia are confirmed.

Frik Els | July 25, 2012 | 7:40 pm

Antofagasta Minerals ‘scored’ with appointment of ex-Codelco CEO Hernandez: analysts

FTSE 100 miner, copper giant Antofagasta PLC (LON:ANTO) announced Tuesday it had appointed Diego Hernandez, the former head of state miner Codelco, a move qualified by insiders as “a goal” for the London-listed Chilean miner.

Cecilia Jamasmie | July 25, 2012 | 7:00 pm

Gold up $32 as QE3 drumbeat grows louder

Gold scaled the $1,600 an ounce level for the first time in three weeks on Wednesday as investors, worried about cheap money flooding markets and debasing the US dollar, turn to gold as an inflation hedge.

Frik Els | July 25, 2012 | 6:25 pm

Harmony opts to starve illegal miners

The drastic step, as reported by Reuters, is to "cut supply lines to gangs of illegal miners used to staying deep in the mines for months on end, threatening lives and official production."

Joshua Zapf | July 25, 2012 | 6:16 pm

Third time’s the charm for Peru’s mining issues?

Faced with never ending environmental and social conflicts over mining projects, Peru's President Ollanta Humala decided yesterday to reshuffle his Cabinet… again…for the third time.

Cecilia Jamasmie | July 25, 2012 | 5:27 pm

Teck Resources down 5% after profits more than halve

The diversified miner suffered lower realized prices across the board with copper down 14% to $3.57 a pound, its realized coal price was 26% below Q2 2011 at $202 a tonne. Zinc (-15%), silver (-24%), lead (-22%) and molybdenum (-18%) prices all declined.

Frik Els | July 25, 2012 | 4:59 pm

Suncor to delay joint venture oil sands projects

Billions of dollars in joint venture projects with partner Total E&P Canada will be delayed, said Suncor Energy’s new chief executive Steve Williams on Wednesday, as both companies are analyzing alternatives to improve their profitability.

Cecilia Jamasmie | July 25, 2012 | 3:35 pm

Miners buying existing projects rather than starting their own: study

Escalating costs and economic instability may be the two main reasons why mining companies worldwide are acquiring existing projects instead of starting their own, shows the latest report from global firm Ernst & Young.

Cecilia Jamasmie | July 25, 2012 | 2:46 pm

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