Impala Platinum to Restart Rustenberg after Illegal Strike Ends
South Africa's Impala Platinum Holdings Ltd. said Friday an illegal strike at its key Rustenburg operation has now cost it 120,000 ounces in lost platinum group metals production, which equates to 2.4 billion rand ($322 million) in lost revenue.
Gold up 1.5% after 'Healthy' Correction
Gold rose 1.5 percent on Thursday, rebounding above $1,700 an ounceas the previous session's 5 percent plunge induced investors to buy at lower prices on hopes the tumble was a healthy correction rather than the start of a bear market.
Gold, Copper Producer Kazakhmys Posts Flat Profit
Copper miner Kazakhmys posted a flat core profit for 2011 as stronger metal prices were offset by an 18 percent rise in production costs, including soaring wages for skilled workers in Kazakhstan, home to its core operations.
Polymetal Eyes Asian, European Acquisitions
Russian precious metals miner Polymetal is eyeing acquisitions in Kazakhstan, Armenia, Ukraine, the Russian Far East and Urals, chief executive Vitaly Nesis told Moscow's RBC Daily in an interview published on Thursday.
Gold Rebounds on Bullion Buying
Gold rebounded on Thursday as physical bullion investors were tempted back to the market by the previous session's 5 percent price plunge, its biggest one-day drop since before the collapse of Lehman Brothers in October 2008.
Markets Do U-Turn After Bernanke Speaks: Daily Markets Wrap
Fed Chairman Ben Bernanke said Wednesday job growth was better than expected and inflation under control, leaving markets thinking central bank intervention was a long way off. The upshot was a dollar rally that hammered gold, stocks and government bonds.
Gold Falls 3%, Biggest One-Day Drop in 2-1/2 Months
Gold fell 3 percent on Wednesday for its biggest one-day drop in 2-1/2 months, as a dollar rally following U.S. Federal Reserve Chairman Ben Bernanke's comment on an encouraging job recovery prompted funds to heavily unwind bullish bets.
Impala Platinum Says it Will Not Exit Zimbabwe
Impala Platinum, the world's second-largest platinum producer, said on Wednesday that it would not exit Zimbabwe despite the demands being made by the government that it hand over majority stakes in its local operations to Zimbabweans.
Gold Prices Plunge Nearly 4% After Failing to Top $1,800
Gold plunged 3.8 percent Wednesday after the dollar firmed and investors took profits from a recent jump in the price of the yellow metal.
Joy Global's 1Q Profit Rises
U.S. mining equipment maker Joy Global Inc posted higher first-quarter profit, helped by stronger margins, and raised its 2012 forecast.
Zimbabwean Official Blasts Impala Platinum
A Zimbabwean minister launched a verbal attack on Impala Platinum Chief Executive David Brown, saying on Wednesday he was sick and tired of the mining group's failure to comply with local black ownership laws.
Shares of Silver Mining Companies Jump
Shares of silver mining company shot up Tuesday, riding a jump in the price of silver as well as a wave of optimism that lifted most equity indexes.
Impala Platinum Loses $263.66M in Illegal Rustenberg Strike
Impala Platinum , the world's second-largest platinum producer, said on Tuesday the costs of an illegal strike at its key Rustenburg operation in South Africa have reached 100,000 ounces and a loss of income of 2 billion rand ($263.66 million).
GM to Take Up to 7% Stake in Peugeot, Partnership Mulled
General Motors Co. will take up to a 7 percent stake in France's PSA Peugeot Citroen as the two automakers discuss an engineering and development partnership to boost both of their struggling European operations.
Mexico-based Frisco's 4Q Profit Doubles
Mexican billionaire Carlos Slim's mining company Frisco said on Monday its fourth-quarter net profit had nearly quintupled from a year earlier.
Freeport Indonesia Tells Workers Not to Work due to Safety Issues
Freeport McMoRan Copper & Gold Inc.'s Indonesia has told workers at its Grasberg mine not to work due to safety concerns linked to labor unrest, a union official said on Sunday.
Sweden's Gold Reserves Steady in Jan.
Sweden said on Monday it had not added to its gold reserves in January, even though data from the International Monetary Fund on Monday showed a sharp rise in Stockholm's bullion holdings.
Gold Prices Slide 1% with Euro, Stocks, Other Commodities
Gold prices fell 1 percent on Monday, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on the fledgling economic recovery fuelled risk aversion.
Stocks, Bonds, Commodities Rise: Daily Markets Wrap
No matter which direction investors faced Friday, whether it was the recent past or the immediate future, all the signals were positive. Investors responded by boosting prices for stocks, bonds and commodities.
Nord Gold May Pay First Dividend This Year - Report
Newly listed Russian gold miner Nord Gold may pay its first dividend this year after net profit rose 89 percent in 2011, driven by higher demand for the precious metal.
'Housing Debacle' Permanently Changed Buyer Priorities: Fed's Bullard
The recent U.S. housing bubble and resulting severe recession discouraged an entire generation of potential home buyers, who see ownership of a residence as far riskier than preceding generations did, a top U.S. central banker said Friday.
Zimbabwe Rejects Impala Platinum's 'Empowerment' Plan
Impala Platinum, the world's second largest platinum producer, said on Friday the Zimbabwean government had rejected part of an empowerment plan submitted by its unit Zimplats.
Gold Retreats as Investors Favor Stocks, Industrial Commodities
Gold retreated on Friday, shrugging off gains in the euro and struggling to maintain traction after this week's already hefty price climb, as buyers favored assets seen as higher risk such as stocks and industrial commodities.
Newmont Mining Sees Higher Costs, Reports Profit Decline
Newmont Mining said it expects a rise in costs for gold and copper in 2012, mainly due to higher labor and power prices and estimated lower production at a mine in Indonesia.
JC Penney's 4Q, Full Year Down on Restructuring Charges
JC Penney reported a fourth-quarter loss Friday on heavy restructuring and other charges entailed in the retailer's launch of a new marketing strategy.
Three Economic Reports Lift Stocks, Commodities: Daily Markets Wrap
Three economic reports lit a fire Thursday under global markets, sending U.S. stocks and many commodities higher. The S&P 500 stock index briefly topped its April 2011 peak of 1,363.61.
Alamos Gold's 4Q up 16% on Higher Prices
Canadian miner Alamos Gold reported a 16 percent rise in fourth-quarter profit, helped mainly by robust gold prices, and raised its semi-annual dividend by 43 percent.
Gold Prices Rise to Three-Month High
Gold rose to a three-month high on Thursday and headed for its biggest one-week rally in a month, spurred on by the strength in the euro following Europe's bailout deal with Greece, ahead of an options expiry later in the day.
Indian Gold Imports May Fall This Year
Indian gold imports in 2012 could fall by a fifth for the first time in three years to 770 tonnes as investors chase better accruals from equity markets and other financial instruments, possibly ceding the position of top consumer to China.
Coeur d'Alene Mines Swings to Profit in 4Q, Full Year
Coeur d'Alene Mines Corp. swung to a profit in the fourth quarter on increased silver production, higher selling prices and higher selling prices, the Idaho-based miner said Thursday.
