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Gold decline taking toll on JSE index

Gold mining companies tugged down stocks on South Africa’s JSE as the price of the metal fell to a new four year low of $1 160 per ounce this week. This weighed on South African stocks that fell for a second straight session on Wednesday, as gold...

Harmony records a 16% lift in Q3 revenue

Harmony Gold had a 16% increase in gold sold which saw the JSE and New York-listed miner’s revenue increase by 18% to $412 million in Q3 2014. The gold miners revenue surge was also impacted on by a 2% increase in the Rand gold price received in...

AML acquires Marampa to quell iron ore slump

African Minerals (AML) has announced plans to blend its iron ore with that of a newly acquired partner as iron ore producers continue to grapple with a sluggish iron ore market. This week the steelmaking raw material hit a lowly $78.01 tonne mark...

Roxgold earns financing for Yaramoko project

Toronto-listed Roxgold announced the closing of previously announced bought deal financing of 46.2 million units of Roxgold at a purchase price of $0.65 per unit for aggregate gross proceeds in the amount of approximately C$30 million. The net...

Trans Hex transforms output and sales in H1 2014

Trans Hex’s net profit for the first half of the year amounted to R35.8 million a vast improvement compared to the R53.9 million loss posted in the period last year. The diamond miner’s profit after tax increased to R25.2-million in the...

African Potash drills final hole at Lac Dinga

African Potash’s (AIM: AFPO) second and final hole of its first drill campaign at the Lac Dinga Potash Project picked up where the first left off after successfully intersecting potash mineralisation. The two-hole drill programme tested two...

Sibanye Gold upgraded at HSBC

Sibanye Gold  (ADR) HSBC upgraded shares of Sibanye Gold (NASDAQ:SBGL) from an underweight rating to a neutral rating in a research report sent to investors last week, TheFlyOnTheWall.com reports. HSBC has also modified their ratings on a number of...