Mining and Exploration

London-listed mining group Vedanta Resources has reported an 83 per cent jump in its first-half profits, aided by higher metals prices.

Pre-tax profits rose to $1.1 billion (approximately £685 million) from $605 million during the same period last year, on revenues of $4.6 billion (approx. £2.9 billion), which rose by 54 per cent.

Vedanta said it saw record production of zinc-lead, aluminium, iron ore and silver. Emerging markets continued to drive the global economy, resulting in price rises across most commodities, the company said.

Western Coal Corp. has declared its strategy and delivery plan are on track after second quarter results revealed net income of $40.8 million, up 18-fold from $2.2 million a year earlier. Revenue was $220.4 million, up 105 percent from $107.6 million.

"Our record production in the second quarter demonstrated strong growth and that our strategy and delivery plan is working," said Keith Calder, president and chief executive officer.

Silver Wheaton, the largest silver streaming company in the world, has reported record quarterly earnings, with net earnings for Q3 2010 more than doubling to $69.2 million, compared with $33.6 million in third quarter 2009.

Operating cash flows increased 55 percent to $70.5 million, compared with $45.4 million in 2009.

SEMS Exploration has built its reputation as a mineral exploration service consultancy on a unique business model. Managing director Simon Meadows Smith talks to Gay Sutton about the secrets of retaining staff through good times and bad.

Mel Togolo, country manager of Nautilus Minerals Niugini Ltd (Nautilus) talks to Jayne Flannery about the company’s pioneering work to explore and develop seafloor mineral deposits in the South Pacific.

Jane Bordenave talks to David Bickford and Ahmet Uslu of Tüprag Metal Mining Industry and Trade about the largest open pit gold mine in Turkey and the company’s subterranean plans for the future.

Anvil Mining is about to become one of the Democratic Republic of Congo (DRC)’s leading copper producers. A defining characteristic of the company’s presence in the DRC is the degree to which it is taking a leading role with a carefully crafted corporate social responsibility strategy. President and CEO Bill Turner talks to Jayne Flannery.

Anglo Swiss mining giant Xstrata has raised its cash offer to buy Australia’s Sphere Minerals by 20 per cent to A$514 million (approximately €365 million).

Zug, Switzerland-based Xstrata said the offer was final and would lapse if shareholder acceptances stayed below 50 per cent by 12 November. 8.1 per cent of Sphere’s shareholders had accepted the initial offer as of 2 November.

When the global economic crisis took hold, the price of palladium plummeted, leaving newly arrived president and CEO Bill Biggar with a tough decision regarding the fate of North American Palladium Ltd. Two years later he tells Andrew Pelis about the company’s rapidly changing status.

The president and COO of Endeavour Silver Corp. explains to David Hendricks how using modern exploration methods on old mine properties can uncover new, undiscovered veins.