| GOLD |
| Saracen lifts guidance as expansion work gets under way |
| Gold miner Saracen Mineral Holdings has started work on the expansion phase of its Carosue Dam operations, with the miner flagging an increase in gold production. Saracen lifted its guidance for 2013 from between 120 000 oz and 130 000 oz, to between 125 000 oz and 135 000 oz, with lower cost and strong production forecasted for the second half of the financial year. Full Article |
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| COPPER |
| PNG's Ok Tedi mine nears shutdown due to drought |
| The Ok Tedi mine, one of Papua New Guinea's largest operating copper mines, is two weeks away from temporarily shutting down due to a drought that has brought river transport to a halt and cut off fuel supplies, a company official said on Tuesday. The mine, which produces about 150 000 tonnes of copper in concentrate a year, ships the material by a pipeline and barges more than 1 000 km (600 miles) to silo vessels in the Gulf of Papua, before it is loaded on to freighters. Full Article |
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| IRON-ORE |
| Hanlong takeover of Sundance faces another delay |
| Iron-ore developer Sundance Resources was facing another delay in the implementation of a takeover by Hanlong Mining Investment. The miner said on Tuesday that it had been informed that Hanlong would not be able to deliver the necessary term sheet by the December 13 due date, and was seeking to revise the current timetable. Full Article |
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| COAL |
| CIL to sign agreement with SA government next year |
| Coal major Coal India Limited (CIL) has proposed the signing of a memorandum of understanding (MoU) with the government of South Africa, early next year to float a wholly owned subsidiary in the country, According to senior officials in the Coal Ministry, CIL's South African subsidiary would be the key driver for exploration and mining in coal blocks that would likely be secured through government-to-government deals. Full Article |
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| GOLD |
| Bullabulling project economics improve |
| Gold junior Bullabulling Gold on Tuesday reported that a preliminary production schedule and cash-flow forecasts for its namesake project in Western Australia, had supported the financial viability of the project and the progression to a full feasibility study. The production schedule and cash-flow forecasts were prepared as part of the prefeasibility study currently being undertaken at Bullabulling, and indicated that some 1.95-million ounces of gold could be recovered from an initial mine life of ten years. Full Article |
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| BOARD CHANGES |
| Hall leaves Toro to join Hillgrove team |
| Uranium developer Toro Energy on Tuesday announced the appointment of Vanessa Guthrie as MD, starting from February 8. Guthrie, who is currently the executive GM for the flagship Wiluna project, would be replacing Greg Hall, who has resigned to join fellow-listed Hillgrove Resources as MD and CEO. Full Article |
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| PEOPLE |
| Newmont CEO to step down in March |
| The world's number two gold miner Newmont Mining on Monday said president and COO Gary Goldberg would take over from outgoing CEO Richard O'Brien on March 1, 2013, when O'Brien retires. The company said Goldberg, who joined Newmont in December 2011 as executive VP and COO, has 30 years' experience in the mining industry. Full Article |
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| CAPITAL SPENDING |
| Vale to scale back investment as global economy bites |
 | Brazil's Vale, the world's second-largest mining company, cut estimated 2013 capital spending by 24% after a global slowdown and a drop in iron-ore prices led the company to rethink its outlook for expansion. The retrenchment comes after sluggish growth in the US, China and Europe diminished demand for metals and weighed on the price of iron-ore, Vale's main product. Iron-ore, a key ingredient in steel, fell to a three-year low in September. Full Article |
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| GOLD |
| AngloGold Ashanti adds to Tropicana resources |
| Gold miner AngloGold Ashanti has added 1.48-million ounces to the estimated mineral resource of its Tropicana joint venture, in Western Australia. The miner said on Tuesday that following a drilling campaign in 2012, the Tropicana project was now estimated to host some 7.89-million ounces of contained gold. Full Article |
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| GOLD |
| Rubianna and Doray look at Ruby Well development |
| ASX-listed juniors Rubianna Resources and Doray Minerals have signed an agreement to assess the potential development of Rubianna's Ruby Well gold project, in Western Australia. Rubianna's MD Dr Steve Batty said on Tuesday that the company's primary objective was to identify a viable processing outlet for the gold resource from the Ruby Well project. Full Article |
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| GOLD |
| Mungana, AngloGold Ashanti conclude Nyngan farm-in deal |
| ASX-listed gold miner Mungana Goldmines on Monday reported that it had concluded a farm-in agreement with gold major AngloGold Ashanti, for the Nyngan project, in New South Wales. The South African major had committed to a minimum expenditure of $500 000 in the first year, including at least $250 000 for geophysical surveys. Full Article |
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