Category : Mining
Rio Tinto (ASX, LON, NYSE: RIO), the world's 2nd largest miner, has announced that it is ready to sell its participation in the giant Grasberg mine, the world's largest gold mine, to Indonesian state-owned mining holding Inalum for $3.5 billion.
Coronet Metals (TSXV: CRF) announced this week that it has entered into an agreement to gain 100% interest in 3,888 mineral claims totalling over 62,000 hectares in the Meguma Gold Belt located in Nova Scotia, eastern Canada.
LBMA suspends Russian precious metals refinery from 'good delivery' lists
Canada’s Yamana Gold Inc. (TSX: YRI) (NYSE: AUY) said it poured Tuesday first gold and silver doré at its Cerro Moro mine, located in Argentina’s Santa Cruz province.
Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply.
The Managing Director of Sukari Gold Mining Company, Youssef el-Raghy, told Egypt Today that the first large-scale modern gold mine in Egypt has produced 106.7 tonnes of the yellow metal since it started operations in 2010.
With limited upside for precious metal prices, miners are refocusing on productivity, says Nathan Flesher, who works for McKinsey's mining arm.
In February China bought nearly all Gold Mine production of the US.