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Anglo American Platinum said Friday it lost 16,000 oz of equivalent refined platinum production in the first quarter of 2013, as a result of intermittent, unprotected strike action. A loss that helped it post a 2% decline in production overall for the quarter. During the period, the platinum miner saw production from joint ventures and [...]
Russian MMC Norilsk Nickel, the world’s largest producer of nickel and palladium, announced today its unconsolidated financial results in 2012.According to the Russian Accounting Reporting Standard, the company’s net profit decreased roughly 37%, from 112.19 billion rubles (approximately US $3.61 billion) in 2011 to 70.14 billion rubles (approximately US $2.25 billion) in 2012.Revenues from metals [...]
Aluminum bellwether’s better than expected demand forecast and benign economic news from top commodity consumer China sent mining stocks and metal prices soaring Tuesday. New York-based Alcoa (NYSE: AA) yesterday surprised the market when it reported better than expected profits on the back of solid end market demand growth. The leader – of what is a [...]
Miners at Anglo American’s (LON:AAL) Kleinkopje coal mine in South Africa have come back to work after a wildcat walk-out started on Tuesday, reports local media. The strike at Anglo followed illegal labour actions at five mines owned by Exxaro Resources, South Africa’s second-biggest coal producer, which have further alarmed investors witnessing what seems to [...]
Sprott Asset Management’s Rick Rule said Thursday the suppression of interest rates in the United States, which is depriving savers of nearly all interest income, is as much theft as the planned confiscation of or “tax” on bank deposits in Cyprus. In an interview with King World News, Rule —business partners with billionaire Eric Sprott [...]
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