Posts Tagged ‘said-on-tuesday’

China’s Ministry of Industry and Information Technology (MIIT) is drafting new standards for the gold industry which will raise the entry barriers, and companies with daily gold processing capacity of less than 50 tons will have to exit the industry, the Shanghai Securities News said on Tuesday.  Local governments, Reuters reports , have already received the order to shut small gold miners down.  The ... Full story

- Townspeople in northern Peru are demanding an end to construction of the $4.8 billion Minas Conga gold mine because they fear it will threaten local water supplies, residents said on Tuesday. Full story

KINSHASA - The Democratic Republic of Congo would see its energy deficit dramatically increase in the next four years due to a surge in demand from the mining industry, the country's national supplier said on Tuesday. The central African State has... Full story

Highland Gold Mining, which mines gold in Russia, saw its first half net profit to International Accounting Standards triple year-on-year to $70.3 million, as the average sales price increased 25 percent, the firm said on Tuesday. Production increased Full story

Australia and New Zealand Banking Group's China unit has received regulatory approval to trade gold futures on the Shanghai Futures Exchange, it said on Tuesday, becoming the second foreign bank allowed access to the country's gold futures market. Full story

Reuters reports Peru's mining firms have agreed to pay higher royalties in an overhaul of the current system, sources on both sides of negotiations between companies and President Ollanta Humala's government said on Tuesday. Under the new system, companies would pay royalties based on their operating profits, not sales and will be be similar to the system used in Chile. Full story

According to a spokesman for the South African gold miner, normal operations at the mine resumed on Monday night. Full story

The South African gold miner said Tuesday that work had resumed at its Tshepong mine after an 8-day stoppage after an accident that killed a worker South African gold miner Harmony said on Tuesday it had resumed work at its Tshepong mine in South Africa Full story

Rio Tinto is comfortable with the company's multibillion-dollar project budgets in Australia, where labour, input and services costs were all increasing, Chief Executive Tom Albanese said on Tuesday. "I'm comfortable that our budgets in Australia are being managed appropriately," Albanese said at a business lunch. Full story

Indonesia's central government is offering a quarter of its 7 percent stake in the local unit of Newmont Mining Corp to the regional government where the company's copper and gold mine is located, the finance minister said on Tuesday. Finance minister Full story