Egypt-focused gold miner Centamin yesterday unveiled a better than forecast increase in production which - if sustained - could see the company beat its own guidance for the year. Unfortunately, it continues to be dogged by legal squabbles in the North-African country and a judicial process which is on the slow side of things. That is key as some claimants would like to see the company stripped of its only producing asset, the Sukari mine. As if that were not enough, over the [10 Apr '13]
The current head of engineering at Anglo American´s platinum operations, Ben Megara, will take over troubled miner Lonmin in July. He has inherited a basket case. The company´s production was shuttered for six weeks last year, due to 'wild-cat' strikes at its main Marikana mine, which was only solved by wage increases. Further salary increases are likely in about two months´ time, when negotiations with workers resume. [7 Apr '13]
African Barrick Gold: Deutsche Bank reduces target price from 520p to 490p and reiterates a hold recommendation. Nomura cuts target price from 525p to 435p and downgrades from buy to neutral. [9 Jan '13]
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