News & Comment
Key directors of depressed Russian gold producer Peter Hambro Mining (PHM) have lent $19.25 million (£12.8 million) to operating subsidiary Pokrovskiy Rudnik.
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Russian gold producer Peter Hambro Mining lifted production nine per cent to 134,300 oz in the first half of this year.
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Russia-focused gold miner Peter Hambro Mining (PHM) says 2008 production could rise by 25 per cent to 400,000 oz.
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Peter Hambro Mining says it beat its own forecasts by increasing gold production 14 per cent to 297,000 oz last year.
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Russian gold producer Peter Hambro Mining has increased first-half pre-tax profits 75 per cent to £15.9 million.
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Russia-focused Peter Hambro Mining increased pre-tax profits 136 per cent last year to £22.5 million.
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Peter Hambro Mining says questions over some Russian gold licences ‘are now resolved’, with 2006 production up five per cent.
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Russian officials have refuted suggestions that Kremlin policy poses a threat to Peter Hambro Mining’s gold licences, says the company.
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Russian gold producer Peter Hambro Mining increased production 19 per cent to 249,000 oz last year, but profits slipped.
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Peter Hambro Mining spin-off Aricom has raised £90 million to buy iron ore rights from Peter Hambro and a colleague.
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Plans for a near-fivefold increase in Russian gold production from Peter Hambro Mining
have cheered the market.
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Peter Hambro Mining (PHM) has acquired two new gold licences in Russia's Chita region through its Russian joint venture, Omchak.
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Peter Hambro Mining has lifted first-half production 37 per cent and nearly doubled pre-tax profits to £4.5 million.
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Russian gold counter Peter Hambro Mining has accompanied cheering reserve and output figures with the launch of a $140 million (£82.3 million) convertible bond.
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Gold miner Peter Hambro Mining (PHM) increased pre-tax profits 50 per cent to £12.8 million last year from its projects in Russia and says it expects midsummer resource estimates to show a 32 per cent increase to 7.4 million oz on the narrowest definition and a 43 per cent lift to 78 million oz of overall resources and reserves. Robert Tyerman reports.
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With former US policy maker Paul Wolfovitz installed as head of the World Bank, its private sector arm the International Finance Corporation (IFC) is investing £7.9 million at 550p in Aim-quoted Peter Hambro Mining (PHM), which is producing from and developing gold projects in Russia. Robert Tyerman reports.
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Peter Hambro, whose Russia-focused gold group Peter Hambro Mining has increased first-half pre-tax profits 51 per cent to £2.5 million, says he expects the company to meet its full-year target of a 37 per cent gold production lift to 204,000 oz. Robert Tyerman reports.
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Aim-listed Peter Hambro Mining, which is developing gold and titanium prospects in Siberia, made £1.5 million pre-tax in the six months to June and is considering further acquisitions in the region, writes Robert Tyerman.
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Sector Articles
Demand for steel from China and India continues to fuel strong increases in iron ore production. Rio Tinto increased output at its Hamersley iron operation in Western Australia’s Pilbara region 24 per cent year-on-year to a record 22.8 million tonnes in the second quarter of the year and production increases at Robe River, also in Australia, and in Canada, took the group’s total to 32 million tonnes.
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Mining markets have been losing some of their lustre of late, with gold retreating from its 15-year peak of $430 an ounce earlier this year to below $373, a seven-month low, and other metals wavering to a lesser extent. Some surprisingly good US economic indicators have helped the dollar rally, which has knocked gold, and signs that China is predictably moving to choke off its economic overheating suggest some interruptions, albeit temporary, in its booming demand for copper, zinc, lead, manganese and iron ore.
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A weak gold price and nervousness about base metals as China curbs economic overheating have hit confidence in the mining market, switching attention to a potentially buoyant energy sector .
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Gold's dip below $400 an ounce, and shakiness in some of the hitherto stronger-performing base metals has not dented the eagerness of mining companies to tap the markets while they can.
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Finance houses may be struggling compared with the 1980s and 1990s, but there is no lack of activity on Aim. While the final demerger of one of the most traded companies, Chorion, into two divisions was grabbing the headlines, 13 new issues (five from the Full List) once more underlined the junior market's attraction to investors and institutions alike.
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