Rocketing vanadium price primed for ‘Elon Musk moment’

Extract Resources said on Monday it was confident that the Namibian government's proposed policy changes on strategic minerals will not affect its Husab uranium project license. The Namibian government is expected to hold a news conference this week to clarify plans to assign almost all mining and exploration rights to a state-owned company.

Auryx reports the Namibian Minister of Mines and Energy clarified the limits of a declaration to label certain minerals strategic and to be awarded to state mining company. Auryx Gold (TSX: AYX) regained lost territory as its shareprice climbed over six

Namdeb Diamond Corp said on Thursday that it had moved back into profit as the global recovery stoked demand for its luxury product and it was cautiously optimistic about the market picking up further. Namdeb, Namibia's main diamond producer, is a 50-50 joint venture between De Beers, which is 45 percent owned by mining group Anglo American (AAL.L: Quote), and the country's government.

African Barrick Gold (ABGL.L: Quote) said its net profit declined in the first quarter as lower production and higher costs offset rising gold prices. Net profit fell 5 percent to $50.4 million as the miner's production dipped 2 percent to 173,907 ounces. Cash costs jumped 28 percent to $658 an ounce.

The Wall Street Journal is reporting that Leighton Holdings Ltd., and two joint venture partners, have obtained a contract worth $586 million, to last 66 months, at one of the richest diamond mines in Botswana.

Rapid progress on the predevelopment phase of the giant Kibali gold project in the Democratic Republic of the Congo (DRC) is paving the way for the targeted mid-year start of mine construction.

IAMGOLD (TSX: IMG) agreed to sell its 18.9-percent interests in two Ghanaian gold mines, Tarkwa and Damang, to Gold Fields (NYSE: GFI), the majority stakeholder, for $667 million. The company reasoned it hasn't been getting fair value by investors as minority players in mines in which Gold Fields owns the majority stakes. "Our strategy is to invest in mines that we own and operate, as they represent the best return on investment for our shareholders," Steve Letwin, IAMGOLD president and CEO said in a statement.

The Company is pleased to provide an update on its recently acquired Buckreef Gold Mine Re-development Project in Tanzania’s Lake Victoria Greenstone […]

Harmony Gold (HARJ.J: Quote) said on Wednesday that its gold production for the March 2011 quarter would likely be two percent lower than the previous quarter mainly due the impact of the Christmas break. It did not give figures in a brief guidance to investors but it said cash operating costs remained steady and capital expenditure was contained during the quarter.