Kinross Gold (K.TO) erased 19.46% of its value, with shares dropping to $10.65 a share on Tuesday, after it disclosed that it will take ". . . a material non-cash accounting charge, primarily relating to the goodwill recorded for the Tasiast mine in connection with the 2010 Red Back acquisition."
FLSmidth has been awarded contracts worth a total of approximately USD 85m (approximately DKK 500m) for equipment supplies to a copper producer in South America.
South African platinum group metal production was down 2.7 percent for the three months ended November 2011 compared with the three months ended August 2011.
In what is likely to be upbeat year for Australian mining M&A, some large Asian and U.S. companies are ready to bet on the country's coal, iron ore and uranium assets to meet booming demand for power.