mineral exploration project – commodity prices – mining stock- trade and market

Horizonte, the AIM quoted exploration and development company focused on Brazil, is pleased to announce that it has signed a US$4.5 million earn in agreement on its 100% owned Falcao gold project, located in the Carajas Mineral Province of northern Brazil, with major gold producer and exploration partner, AngloGold Ashanti Limited.

Highlights

- AngloGold can earn into 51% of the Falcao project by spending US$4.5 million on exploration and development over three years

- First year cash commitment of US$900,000 on exploration funding

- Fast track drill programme to...

Gold Fields is the largest metal producer in Africa. The company reported net profit of the company gained increasing to 1:41 billion rand ($ 186 million) in the second quarter. Increase in profits for the three months to reach 40 percent in the price of gold higher.

Nearly 120 years after three men called Joseph laid eyes on the gold fields of the Ashanti kingdom, Ghana’s rich seams are once more an alluring prospect for the world’s mining houses.

As many mines elsewhere grow deep, dangerous and expensive, Ghanaian production increased by 10 per cent last year, more than any other of the top 10 producer countries, many of which registered steep declines, according to GFMS, a consultancy.

South America is a continent whose richness in natural resources became legendary through myths such as El Dorado or the Emerald Mountain. Neither of these ever existed, of course, but today the continent produces antimony, bauxite, coal, cobalt, copper, gold, iron-ore, lead, manganese, molybdenum, nickel, phosphates, platinum, silver, tantalum, tin, titanium, tungsten, uranium, zinc and zirconium, plus oil and gas, as well as a wide range of precious and semiprecious stones.

Two of the largest gold mining company Anglogold Ashanti and Randgold Resources a joint venture to acquire 20 percent more shares Moto gold mining projects from Okimo. The funds will be issued by both companies to get the Moto gold mining stocks approximately $ 113.6 million.

Kinross Gold said on Monday it slipped to a loss in the third quarter, as higher costs associated with a mine expansion offset the positive impact of soaring gold prices.

The Canadian gold miner lost $21.5 million, or 3 cents a share, in the quarter ended Sept. 30. That compared with a profit of C$64.7 million, or 10 cents a share, in the year-before period.

AngloGold Ashanti Ltd., the world’s third-biggest producer of the metal, cut its 2009 production forecast for the second time this year after suspending output at the TauTona mine in South Africa.

South Africa’s FTSE/JSE Africa All Share Index rose for a fourth day, adding 126.24, or 0.5 percent, to 26,182.65.

Afgri Ltd. (AFR SJ): The farm-products services company holds its annual general meeting. Afgri was unchanged at 5.50 rand.

AngloGold Ashanti Ltd. : Africa’s largest producer of the metal said it has fully funded a cash payment of about $76.9 million to former...