Rio Tinto Diamonds announced today that production at its fully owned Argyle mine in Australia was 33% lower than the same quarter of 2008. The mining conglomerate said diamond markets recovered during the fourth quarter, but remained below prior levels.
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The drop is a dramatic reminder of the brutality with which the recession cut demand for coal, lumber and other goods that make up the backbone of the economy.
China has launched a multi-billion dollar effort to turn some of its massive coal resources into gas. China now has more than 10 coal-gasification plants under construction with total nameplate capacity of about 1.2 trillion cubic feet per year.
RIO Tinto-controlled Coal & Allied boosted its coal production and sales in the December quarter as the revival in the commodities boom gathered pace.
Russian coking coal producer Raspadskaya (RASP.MM: Quote, Profile, Research) said on Thursday that raw coal output rose 12 percent last year compared to 2008, thanks to a strong fourth quarter.
Investors are poised to switch out of mining stocks, apprehensive that a cyclical surge last year has left valuations more vulnerable to any slowing in Chinese demand and moves by central banks to tighten money flow.
Scorpio Mining Corporation announced that it has signed an arrangement agreement with Platte River Gold Inc. dated January 7, 2010 for the acquisition of Platte River and all its assets, including the La Verde Project and its significant polymetallic
Rockwell Diamonds announced that it has recovered several large stones – plus-50 carats in size – from the Saxendrift and Holpan mining operations in South Africa. Highlights include: 52.40 carat clean light fancy yellow diamond from Holpan, 60.52 carat
Endeavour Silver announced that the Company set a new record for silver production in Q4, 2009, up 12% quarter-on-quarter to 779,345 oz silver. Gold production also jumped to a new quarterly high, up 90% to 4,591 oz gold in Q4, 2009.
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TORONTO, ONTARIO — (Marketwire) — 01/14/10 — Dundee Precious Metals Inc. (TSX: DPM)(TSX: DPM.WT)(TSX: DPM.WT.A) (“DPM” or “the Company”) is pleased to announce that it has agreed with Louis Dreyfus Commodities Metals Suisse SA (“LDC”), the smelter
Battle with China raises questions about difficulty, risks of doing business in world’s third-largest economy Email Please enter a valid e-mail address Please enter a comma delimited list of valid e-mail addresses Other ways of sharing: License this
Mining stocks have helped shares in London close higher after a production update from Rio Tinto buoyed the entire sector. The FTSE 100 index has closed up 24.72 points at 5,498.2 points, with Wall Street sporting modest gains as trading in London drew
Let’s consider a well publicized recent sale of Russian gold bullion to itself:
State-owned steel producer PT Krakatau Steel is upbeat that the industry will pick up its pace in 2010, after seeing sales decline in past years.Krakatau Steel’s marketing director Irvan K Hakim said in a press conference on Thursday that prices of
TORONTO, ONTARIO — (Marketwire) — 01/14/10 — Nautilus Minerals Inc. (TSX: NUS)(AIM: NUS) (the “Company” or “Nautilus”) is pleased to announce the discovery of five high grade Seafloor Massive Sulphide (“SMS”) systems, designated Solwara 12, 13, 14,
DOW JONES NEWSWIRES Monsanto Co. (MON) said the Justice Department has requested information about its genetically modified soybean seed business, mostly to confirm that the agribusiness company will continue to provide access to a line that are
Massey Energy Company, a U.S. coal producer, has signed a deal with India’s Jindal Steel & Power Ltd. to bid for the development and operation of underground coal mining projects in India, Mongolia, Australia, the U.S. and elsewhere.
/ RNSDF.PK The Mole Send Message You are currently following The Mole Stop Following You are no longer following The Mole About this author: Visit: The Mole’s Market Watch Blog Submit an article to Font Size: Print Email Stocks rose Wednesday in the US
Tinto Ltd has reported a 49 per cent jump in fourth-quarter iron ore output and says that a recovery is underway across most key commodities. The miner’s global iron ore sales set a new quarterly record of 61 million tonnes, bolstered by strong Chinese
TORONTO (Reuters) – The Canadian dollar shot to a three-month high against the U.S. currency on Thursday as the greenback fell on soft U.S. economic data and the Canadian currency gained momentum after piercing key technical levels. The Canadian unit