Stockpile: Miners soften along with commodities

There were only a handful of gainers on London’s main board this week as both precious and base-metal prices were lower overall.

Over the past few days, the price of copper had recovered to about US$8,485/t on Friday morning from much lower levels earlier in the week thanks to some better-than-expected US economic data and the continued strike action at Collahuasi, the world’s fourth-biggest mine.

The price of gold has not fared any better, also losing some ground over the past seven days. It touched US$1,360/oz this morning, some way off the all-time high of US$1,424.60/oz on November 9.

UK Coal was the top gainer, adding nearly 6% this week. No corporate news was forthcoming to explain the gain and the even with the gain, the share price remains 46% lower since the start of the year.

Centamin Egypt Ltd, the Egyptian gold producer, was the only other gainer of note, adding 3.4%.

South African chrome and platinum group metal producers International Ferro Metals Ltd and Aquarius Platinum Ltd, fell the most this week, dropping by 10% and 11% respectively.

No surprise that Western Coal Corp was amongst the biggest risers on AIM. The company received a US$3.2 billion bid from Walter Energy Inc, to create one of the world’s largest coking-coal producers. The shares gained 38.5% in the week.

Last week’s top two gainers continued rising in the week, Red Rock Resources plc added another 26%. Last week, the company announced closure of a manganese deal in one of its largest investments, while also reporting gold production from Colombia. Regency Mines plc, Red Rock’s largest shareholder added 63%.

Bellzone Mining plc was a notable loser. The Guinean iron-ore developer shed 9.4% after a state of emergency was declared in the West African country due to violence after a contested political election result.

==Mining Equipment===

site: http://www.miningconstruction.org

gyratory crusher mesin pemecah batu aggregate crusher gravel crusher industrial crusher portable concrete plants small crusher underground mining equipment bottle crusher Aluminum ore crusher screw conveyor Building Materials Recycling eagle crusher laboratory ball mill dolomite crusher mesin pemecah batu crushing equipment conveyor belt vibrating feeder rock crusher marble crusher stone crusher grinding mill