South African watchdog approves Glencore’s bid for Chevron assets

Gold Fields, one of the world's top five gold producers, announced June quarter earnings that were up 15% to US$186 million, compared with US$158 million in the March quarter. During the same June quarter last year, Gold Fields made US$120 million. The company announced its quarterly results on Wednesday.

South Africa's gold output fell 5.7 percent in volume terms in June while total mineral production fell 0.7 percent compared with the same month a year earlier, data showed on Thursday.

As has previously been reported by Lucara Diamond, in April 2010, legal proceedings were initiated against African Diamonds Plc, Lucara's wholly-owned subsidiary, by two former directors of African Diamonds claiming entitlement to a 3% royalty on production from the AK6 diamond project. The claim was heard in the Botswana High Court in early June, 2011. The High Court delivered its ruling today, dismissing the claims against African Diamonds, with costs awarded against the plaintiffs. The plaintiffs have 30 days to seek to appeal the ruling.

NTVKenya reports that a rare earth company in Kenya is facing angry opposition from residents who want the company to stop exploration work. The project is located on the south coast, 85 kilometers from Mombasa. The exploration license was issued to Cortec Mining Kenya, a South African company that was incorporated in Kenya last year.

First Quantum announced a 51% increase in gross profit as the 41% higher net realized copper price more than offset the lower sales volume. There was a 3% decrease in copper production from the Kansanshi and Guelb Moghrein mines due to maintenance-related downtime at both operations and the processing of low-grade, high acid consuming oxide ore at Kansanshi.

Brazilian mining titan Vale SA (VALE) said Tuesday the first coal train arrived Monday at the Mozambican port of Beira. The first train carried 2,200 metric tons of coal from Vale's Moatize coal mine in the northwest province of Tete.

As the country marked Heroes Day, Robert Mugabe used the occasion to make fresh threats to punish foreign owned companies from Western countries that have imposed targeted sanctions on him and his key ZANU PF officials. The US and European Union slapped the sanctions on Mugabe and his cronies because of human rights abuses.

ASX-listed global mineral processing equipment manufacturer Ludowici has acquired South African screening media manufacturer Meshcape, in a move to accelerate its expansion into new markets in Africa, Ludowici Africa GM Fanie Swart said on Monday.

Harmony Gold Mining Company Limited (Harmony) is pleased to announce that it has reached a mutually acceptable settlement with the lead plaintiff in the class action filed against it in the United States (US) District Court for the Southern District of New York in May 2008. The settlement requires final approval from the court on or after a hearing scheduled for the 10th of November 2011 and no assurance can be given that the settlement will ultimately be approved.