Aluminium
Chinalco makes further acquisition
by Gill Montia
Aluminum Corp of China (Chinalco), which is engaged in bauxite mining, alumina refining and aluminium smelting, has acquired a controlling interest in Northeast Light Alloy Co Ltd (NELA), for 1.2 billion yuan.
NELA, which is based in Harbin province, is a Chinese state-owned business best known for its operations in the defence sector, but also supplying [...]
Precious metals prices gain; base metals decline
by Elaine Frei
Precious metals prices were higher on Tuesday as investors bet that demand for gold will rise along with US equities markets.
December gold added $9.60 in New York to $691.50 per troy ounce, the biggest gain for a front-month contract since the beginning of June in turn-around from recent weeks when investors were selling gold as [...]
Gold news from South Africa
by Gill Montia
The South African Chamber of Mines has published figures showing that gold production in the country rose by 1.1% in the second quarter of 2007, as compared with the first-quarter of the year.
However, when compared with the second quarter of 2006, gold production actually fell during the quarter, by 7.5%.
In 2007, second quarter production [...]
Breakaway resources enhanced at Eloise
by Gill Montia
Breakaway Resources, the Australian nickel and base metal company, has reported that it has established a significant strengthening in the resource position of the Eloise mine in north east Queensland.
The mine has a new JORC Compliant resource of 2.1 million tonnes @ 2.9% copper, 0.7 parts per million gold and 8.5 ppm silver.
Production at Eloise [...]