Mining and Exploration

The world’s largest mining company profited from improvements in its iron ore, coal and petroleum businesses, with profit from the former rising by 60 percent, powered by production from its Western Australia mines which produced a record of 108 million tonnes.

Founded by current CEO, Clifford Elphick, in July 2005, Gem Diamonds has made significant strides in the years that followed to become a leading global producer of high value diamonds. The company is the majority owner of the well-known Letšeng mine in Lesotho and is also in the process of developing its 100 percent owned Ghaghoo mine in Botswana.

Measuring two and three-quarter miles across and with a depth of approximately three-quarters of mile, the Bingham Canyon Mine was for many years the largest man-made excavation on Earth. It is from here, southwest of Salt Lake City, Utah, in the Oquirrh Mountains that Rio Tinto Kennecott sources almost a quarter of the total copper needs of the United States.

The world’s second largest mining firm has reported a full year net income of $3.7 billion, reversing a $3 billion loss in 2012. As a result it is increasing its annual payout to shareholders by 15 percent to $1.92 per share.

"These strong results reflect the progress we are making to transform our business and demonstrate how we are fulfilling our commitments to improve performance, strengthen the balance sheet and deliver greater value for shareholders," Rio Tinto chief executive Sam Walsh said in a statement.

Measuring approximately 1,850 kilometres in length and with a width varying between from 370 to 805 kilometres, the Scandinavian Peninsula is one of Europe’s largest. Covering Norway, Sweden and most of northern Finland, the Peninsula we see today has been shaped through history by the impact of various Ice Ages, events that have deepened its river valleys, created the famous fjords of Norway and left only a small percentage of the land arable.

In a little over ten years, South Africa based airborne geophysical company, Xcalibur Airborne Geophysics has successfully collected over three million line kilometres of low level data for its client base of major mining companies and junior exploration businesses.

Discipline is a great virtue in the challenging price environment the gold mining industry finds itself in today: the players who can keep operating through the lean times will be the ones best place to take advantage of anticipated price rises. But though these struggled upward to the tune of some $60 over the course of January – and western economies are showing signs of growth allied to greater confidence – prospects for 2014 remain uncertain. Investors know that, and they continue to set a premium on discipline.

When we last spoke to President and CEO of DNI Metals Shahe Sabag towards the end of 2011 his company had just achieved a significant milestone in its history, identifying the first mineral resource from one of its six mineral systems located within the 2,720 square kilometre property the company holds in the Birch Mountains, north of Fort McMurray adjacent to the oilsands deposits of northern Alberta, Canada.

The company has announced C$4.3 million deal that will see it issue 21.65 million new shares in exchange for the entire issued share capital of St Vincent Minerals (SVM), whose assets include the Gabbs property in Nye County, Nevada.

The deal represents a departure for Galileo, whose portfolio until now had included three projects and nine exploration sites across South Africa, Zambia and Mozambique.

The National Development Corporation of Tanzania owes its existence to one of the most significant figures in the story of Tanzania’s journey towards independence. The man who was later to found and lead NDC, Sir George Kahama was appointed Minister of Commerce and Industries in President Nyerere’s first cabinet, and one of his priorities in the two years he spent in the job was to draft the legislation that established NDC. It is worth quoting Joseph Kahama’s account of the original vision in his biography of his father.