Mois : décembre 2012

CYNTHIA CARROLL’S SPEECH AT GORDON INSTITUTE OF BUSINESS SCIENCE

Mining

Good afternoon Ladies and Gentlemen and thank you all very much for being here. Thank you also to our hosts at the Gordon Institute of Business Science. GIBS is not only a fine institution of learning – it has also established a tradition of fostering debate on issues critical to South Africa’s future – and I am very pleased that it is the venue for our discussion this afternoon. I want to talk to you about the path forward – to set out my views about the future for the…

TFM SARL a publié les résultats du troisième trimestre 2012

Mining

Tenke Fungurume Mining S.a.r.l Société Constituée en République Démocratique du Congo Siège Social à Lubumbashi NRC 7325 IDN 6-118-K30745D 790, Avenue Panda Lubumbashi, Katanga   Tenke Fungurume Mining, S.A.R.L.  Résultats du troisième trimestre 2012  Lubumbashi, le 31 octobre 2012 : Tenke Fungurume Mining (TFM) est heureux d’annoncer qu’au cours du troisième trimestre 2012, il a produit environ 41 400 tonnes de cathodes de cuivre et 3 400 tonnes de cobalt métal sous forme d’hydroxyde de cobalt. Au cours de ces neuf premiers mois de 2012, TFM a produit environ 113…

Inside the Gertler’s Empire in the DR Congo

Mining

By Franz Wild, Michael J. Kavanagh & Jonathan Ferziger – Dec 6, 2012 (Bloomberg Markets Magazine) Israeli billionaire Dan Gertler visits Kamoto Copper Company (KCC) mines at Kolwezi in Katanga, DR Congo, in August 1, 2012. Dan Gertler’s bearded face lights up as he looks out the helicopter window. Below, an installation twice the size of Monaco rises from a clearing in the central African forest, where it transforms ore mined from the ochre earth into sheets of copper.

George Soros raises gold ETF holdings by half, nearly triples Freeport stake

Mining

While the Soros and Paulson funds remain bullish on gold, major gold ETF shareholder Windhaven dropped its SPDR Gold holdings during the third quarter.   RENO (MINEWEB) – Billionaire fund manager George Soros increased his stake by half in the SPDR Gold Trust while fellow billionaire fund manager John Paul maintained his holding in the world’s largest gold bullion-backed ETF.

ENRC Offers $550 Million to Buy Dan Gertler Out of Congo Unit

Mining

ENRC was present at Grand Karavia’s Katanga IPAD 2012 (MNM Picture) Dec. 8 (Bloomberg) – Eurasian Natural Resources Corp. offered $550 million to buy out Israeli billionaire Dan Gertler from a company holding interests in copper and cobalt licenses in the Democratic Republic of Congo. The cash bid is for 49.5 percent of Camrose Resources Ltd., which is indirectly owned by a Gertler family trust, London-based ENRC said yesterday in an e-mailed statement. The offer, which also is for minority shareholdings in some Camrose units, is expected to close by…

TOP 10 MINERS: A tough year, for CEOs and for stock prices

Mining

JOHANNESBURG (Mineweb) – For listed mining companies everywhere, this year has been all about stock prices facing headwinds, along with relentless pressure on CEOs. The benchmark stock, BHP Billiton, the world’s biggest diversified resources group, saw its stock price in US dollar terms peak out in the latter stages of 2010. Given the wobbles in the global economy, the fall from there has been relatively modest, from around US$26.00 a share to recent trades around US$19.00. Vale, the world’s No 2 miner by market value, has seen its stock price…

Freeport’s risky energy plan highlights copper woes

Mining

Freeport’s stock fell nearly 16% after its plan to move into energy was announced Wednesday and investors, it appears, would have preferred it sticks to what it knows best. (Reuters) – Thursday , 06 Dec 2012 Freeport-McMoRan Copper & Gold Inc’s decision to diversify into energy highlights the dearth of attractive options available in copper, its main business, but few competitors are likely to follow its lead into unfamiliar territory.

World economy in deep trouble

Mining

Washington – (Reuters, Pedro Nicolaci da Costa) The global economy is on edge – and that’s without the US “fiscal cliff.” Among rich nations, the US outlook remains the least troublesome. But given a recession in the eurozone and a recent contraction in Japan, that’s not saying a lot.