Mining Companies Exploration and Investment News

Like India’s steel giants, China is also showing interest in investing in South Africa’s mining sector.

According to the minister of mines in South Africa, China had shown strong interest in investing in the African nation’s mining sector.

China, Africa’s biggest emerging market partner, has been investing in the continent’s mining and energy sectors.

China is interested in manganese, platinum and uranium. But S Africa is also cautious to see if their investment is going to benefit South Africa. It is critical for the country to ensure its own interest.
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Australian gold output rose 14 percent in the fourth quarter last year, helped by Newmont Mining Corp.’s Boddington mine, confirming the country as the world’s second-biggest producer, a research group said.

Gold production in Australia rose to 62 metric tons during the three months to Dec. 31, Melbourne-based Surbiton Associates Pty said in an e-mailed statement. (continue reading…)

Asian stocks climbed for a second day as JPMorgan Chase & Co. boosted ratings on Japan’s largest banks and as mining companies climbed on higher metal prices.

Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. advanced more than 1.5 percent in Tokyo. Jiangxi Copper Co. surged 5.8 percent in Hong Kong as copper prices jumped after an earthquake in Chile cut supplies from the world’s top producer of the metal. (continue reading…)

The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close of trading in Moscow.

The 30-stock Micex rose 0.7 percent to 1,332.64 at the close of trading in Moscow. The dollar-denominated RTS Index increased 1.5 percent to 1,410.85.
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Gold producer Focus Minerals Limited is pleased to provide an update on activities at its Coolgardie Gold Project, including the recently completed milling campaign that has delivered record gold production of approximately 21,900 ounces subject to finalisation of calculations of gold in circuit remaining in the treatment facility. (continue reading…)

Exploration targets across the globe are the key, writes Jim Jones. CEO Nick Holland is unambiguous – the Gold Fields vision is to be the global leader in sustainable gold mining. Other metals do not figure, except as by-products of gold.
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Wesdome Gold Mines Ltd raised its annual production outlook, citing strong gold production and bullion sales in the third quarter, sending its shares up 5 percent.

The company said it expects to produce more than 90,000 ounces of gold in 2009. In August, Wesdome had projected production of 80,000 ounces of gold.
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