Gold miner Newmont has 2nd-quarter loss after charges

(Reuters) - Gold miner Newmont Mining Corp. posted a quarterly net loss on Thursday as a result of huge charges on the value of its discontinued merchant banking operation and the elimination of its gold hedge positions.

Still, the operating results of the world's No. 2 gold producer beat estimates, even as it sold less gold than a year earlier, but at higher average prices.


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India Tata Steel to buy 35 pct in Mozambique project

(Reuters) - India's top private steel maker Tata Steel Ltd. said on Friday it would spend A$100 million to buy a 35 percent stake in a Mozambique coal project run by Australia's Riversdale Mining Ltd..

Tata Steel, which bought Anglo-Dutch Corus for $12.9 billion this year to become the world's sixth-largest steel maker, said it would source coking coal from the project for Corus' plants in the U.K. and Europe, and for Tata's Indian units.


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Chile's Peso Strengthens as Codelco Prepares to Reopen Second-Largest Mine

(Bloomberg) -- Chile's peso rose after state-owned
Codelco, the world's biggest producer of copper, said it will
resume production at its second-largest mine.

Unions at El Teniente in central Chile will resume work,
Codelco said yesterday. Mining had been halted since July 26
because of protests by striking contract workers. Copper has
gained 22.6 percent this year. Copper is Chile's biggest export.


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Canada Stocks May Fall on Slowing Chinese Demand; Barrick, Inmet May Fall

(Bloomberg) -- Canadian stocks may fall after China
raised interest rates and U.S. companies, including Google Inc. and
Caterpillar Inc., reported profit below analysts' estimates.

Gold prices in London declined on speculation that the three-
week rally was overdone, given expectations for increased sales
from central-bank reserves. Barrick Gold Corp., the world's biggest
gold producer, and Inmet Mining Corp. may decline, based on bids
submitted to the Toronto Stock Exchange.


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S.Africa bourse slips on global economy, rates woes

(Reuters) - Mining groups Anglo American and BHP Billiton led South African shares lower on Wednesday over jitters of economic slowdown in the U.S. and China, but gold shares soared on the metal's price.

Traders said the bourse was spooked into profit taking as U.S. stocks fell after Federal Reserve Chairman Ben Bernanke said the Fed expects the U.S. economy to expand one-quarter percentage point below its estimate six months ago.


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