Gem Diamonds mining lease for Letšeng renewed for 10 years

New research shows inland Chinese steel mills pay a 35% premium over seaborne benchmark with 210mt of steel capacity potentially looking for alternatives.

With mines back in operation and some already up to full production, various companies such as Impala Platinum, Diesel Power and Sibanye Gold will be taking to market a variety of redundant and surplus plant and equipment via an online auction.

Despite iron ore prices touching rock bottom, the top three producers have no plans to slowdown production. Quite the contrary.

Harmony Gold, Sibanye Gold Ltd., and AngloGold Ashanti named among the top candidates to consider deals.

The miner, Zambia's largest foreign investor, operates Kansanshi mine, the eighth largest copper mine in the world, as well as the country's biggest.

JSW Steel has almost clinched a deal that would see India's third-largest steel company acquire embattled London Mining (LON:LOND), sources close to the negotiations revealed on Friday.

Underground mining royalties will go up from 6% to 8%; underground taxes now 20%.

The firm mined 93,624 ounces of the yellow metal in the three months to end September and it also maintained its full-year production forecast of 420,000 ounces of gold.

The head of the iron ore division, Andrew Harding, defens Rio's own plans to ramp up ore production.