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Iamgold increases Essakane probable gold mine reserves to 3.37 Moz

Canada’s Iamgold is making good progress to bringing its Essakane gold mine in Burkina Faso to production with first output expected in August next year….read more….

New gold reserve discovery remains well below the industry’s ongoing needs

In a recently released study, Canada’s Metals Economics group shows that the major gold miners are not replacing resources through new exploration, but rather through acquisition, expansion and upgrading of existing or already known operations….read more….

Aura Minerals soars after analyst upgrades it to ‘strong buy,’ hikes target

Shares of Aura Minerals Inc. (ORA/TSX) soared yesterday after a favourable report from Tom Meyer, a Raymond James analyst….read more….

Uranium One and Russian miner in Kazakh mine deal

Canadian miner Uranium One announced Monday a cash-and-stock swap with a Russian mining company for a 50% stake in a Kazakh mine….read more….

Severstal sweetens offer for High River Gold

TORONTO (miningweekly.com) – Russian steelmaker Severstal has increased a proposed offer to buy out minority shareholders in cash-strapped High River Gold, in which it already owns more than 50%, the gold miner said on Tuesday….read more….

Outlook Remains Positive for Gold and Precious Metals

The gold market continues to track the dollar. As the dollar retraces recent gains against the major currencies, touching a two week low on Monday, gold currently stands at $961.10….read more….

Lundin: Massive Tenke copper/cobalt mine beating expectations

Production at the Tenke-Fungurume copper-cobalt mine in the Democratic Republic of Congo is higher than expected and should end up exceeding long-term forecasts, the chief executive of part-owner Lundin Mining (LUN.TO: Quote) said on Tuesday….read more….

Yamana to sell ‘non-core’ gold mines for $200m to improve ‘bottom line’

Yamana Gold has signed an agreement to sell three of its mines to Vancouver-based junior Aura Minerals for a US$200 million cash and stock transaction….read more….

Silvercorp defends offer for Klondex

As mining companies pop up out of nowhere to cash in on China’s gold rush, Silvercorp Metals Inc. is going the other way….read more….

Xstrata suspends Montcalm mining

Xstrata PLC has indefinitely suspended operations at its Montcalm nickel mine in Timmins, Ont., after finding structural damage, the company said yesterday….read more….

Junior golds: the remarkable comeback

Leading the way is Vancouver-based Ventana, which has gone on a big run because of drill data from its La Mascota gold discovery. La Mascota even drew the attention of Vancouver mining maven Ross Beaty, who bought a 16.9% stake in the company….read more….

Gold consolidates ahead of U.S. jobs report

Gold (GOLDC-I963.60-18.70-1.90%) trod water in Europe on Friday, supported near $980 (U.S.) an ounce by the weaker dollar and firmer oil prices, with traders awaiting key U.S. jobs data due later in the session….read more….

Brazil opens its arms to Chinese investment

Last year China passed the US as Brazil’s major trading partner, having increased trade by 50 per cent for three years running….read more….

Botswana-focused uranium hopeful Impact to raise $3m

JOHANNESBURG (miningweekly.com) – ASX-listed Impact Minerals has reached an agreement to place 18,6-million new shares at an issue price of 16,07c a share, to raise $3-million….read more….

Buffett Gets ‘Comeuppance’ After Gold Outperforms

Bloomberg has covered our recent research concerning Warren Buffett’s Berkshire Hathaway (BRK.A) poor performance versus gold in recent years. Buffett is the most successful investor in the world but his lack of diversification and almost exclusive focus on equities may bring further pain to his shareholders in the coming years….read more….

Barrick Gold CEO expects reduced inputs at Pascua Lama but isn’t lowering overall cost estimates

Barrick Gold (ABX.TO: Quote) hopes to wring cost savings at its Pascua-Lama mine project in Latin America from falling steel prices and looser labor markets, Chief Executive Aaron Regent said on Thursday, but he didn’t cut the project’s forecast $2.8 billion-$3 billion price tag….read more….

Goldcorp’s cunning plan for Bruce Channel

Goldcorp Inc. is considering the construction of a big high-speed underground tram as it gears up to develop its lucrative Bruce Channel deposit in Red Lake, Ont….read more….

Chinalco can blame it on Rio Tinto for failed merger

The tone of the meeting, held a fortnight ago today in Chinalco’s utilitarian headquarters in western Beijing, did not come as a complete shock; Rio chairman Jan du Plessis had phoned Xiong the previous day to signal potential changes to the $US19.5 billion ($24.3 billion) alliance signed by the companies just three months earlier. But there was a finality in Albanese’s comments that took Xiong by surprise….read more…

Will a ‘Silver Bullet’ Finally Kill the Metal Manipulators?

First of all, bullion-ETFs soak-up billions of investor-dollars each year, which would otherwise be invested in real bullion, or in the shares of precious metals miners….read more….

$24.4bn Chinalco deal with Rio Tinto is dead

There was speculation that Rio Tinto would walk away from Chinalco overnight and instead seal a joint venture with its bitter rival, BHP Billiton….read more….

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