South America is a continent whose richness in natural resources became legendary through myths such as El Dorado or the Emerald Mountain. Neither of these ever existed, of course, but today the continent produces antimony, bauxite, coal, cobalt, copper, gold, iron-ore, lead, manganese, molybdenum, nickel, phosphates, platinum, silver, tantalum, tin, titanium, tungsten, uranium, zinc and zirconium, plus oil and gas, as well as a wide range of precious and semiprecious stones.

Gold futures in New York rose to a record above $1 100/oz on Friday as the dollar eased in the wake of disappointing US employment data. At 9:48 a.m. EST (1448 GMT) December gold was up $10,20 at $1 099,50 an ounce at the COMEX division of the New York Mercantile Exchange, having topped at $1 101,90 in morning trade. [Read more...]

ASX-listed gold producer Resolute Mining has reported that despite setbacks in the ramp-up of its Syama gold mine, in Mali, it still produced around 6 665 oz of gold during October. Resolute said on Friday that the production was achieved in the balance of the month following the 12-day shutdown, and reflected a significant improvement in the plant performance.

JSE-listed platinum producer Impala Platinum (Implats) on Friday reported that Dr Fred Roux has resigned as an independent nonexecutive director, with immediate effect. The resignation followed discussions in the aftermath of Roux`s replacement as chairperson. Implats said in a statement that boh the company and Roux regretted the circumstances and publicity surrounding that event, and have agreed to go their separate ways, in good faith, with mutual respect and with no further comment.

TSX- and JSE-listed Africa-focused diamond explorer BRC Diamondcore has signed a letter of intent with diversified giant Rio Tinto’s mining and exploration arm, whereby Rio Tinto would fund the exploration of certain parts of the joint venture (JV) property of the Tshikapa kimberlite project, in the Democratic Republic of the Congo. [Read more...]

British mining company London Mining has revealed that it is in talks with major Chinese groups about its Marampa iron-ore project in Sierra Leone. “We’re having these discussions now,” London Mining CEO Graeme Hossie told Bloomberg News. “I’m confident they will lead to potential cooperation which could include investments to accelerate production or a joint venture.” [Read more...]

Aim-listed junior gold explorer GoldStone Resources has been granted an exploration license for its Sangola project by the Senegalese Ministry of Mines. GoldStone said in a statement that it would now be able to start exploration activities for gold and related minerals, as soon as a decree was issued by the Mining Minister, which was expected to occur shortly.