Mining Roundup

Red Rock Resources (LON:RRR) has posted a FY pre-tax loss from continuing operations of £283,280, from a year-ago and materially lower loss of £7.7m.

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Anglo American (LON:AAL) has sold its 9.7% interest in Exxaro Resources for ZAR3.0 billion (approximately $215 million).

The sale price of ZAR87 per share.represents a 10% discount to the closing price on 30 November. Following the sale, Anglo American no longer holds a direct equity interest in Exxaro.

Anglo American intends to use the proceeds from the placing to reduce net debt.

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Gemfields' (LON:GEM) auction of predominantly higher quality emeralds from the Kagem emerald mine in Zambia, originally scheduled to take place in December, has been rescheduled until February.

The auction of predominantly mixed quality rubies from the Montepuez ruby deposit in Mozambique will proceed in Singapore in December as originally planned.

Chief executive Ian Harebottle said: "The majority of our customers for rough emeralds hail from India. As has been widely covered in the international media, the new demonetisation programme will require an adjustment period to allow industries and stakeholders to adapt to the new policies.

"For this reason, we have decided to delay our forthcoming emerald auction by approximately two months, until February 2017. This decision has been well received, and appreciated, by our auction participants.

"Our ruby auction will proceed as planned given that rubies have a diversified customer base dominated by Thailand, Sri Lanka, Myanmar and China. There is no change to our revenue guidance for the 2016 financial year."

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Rio Tinto (LON:RIO) said, in response to press reports regarding a US Securities Exchange Commission (SEC) investigation, it is cooperating with inquiries from the relevant authorities relating to the impairment included in the company's 2012 accounts in respect of Rio Tinto Coal Mozambique (RTCM).

Rio Tinto acquired RTCM in 2011 and divested it in 2014.

As the SEC investigation, which started in April 2013, remains ongoing it would be inappropriate to comment further at this time. The company will update the market, as required, in due course.

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Rambler Metals and Mining (LON:RMM) has confirmed that all resolutions proposed at its annual general meeting earlier today were passed.

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Botswana Diamonds (LON:BOD) has appointed James Campbell as managing director owith immediate effect. Campbell will be based predominately in Johannesburg and will work closely with Alrosa on the Orapa and Gope licences and with the shareholders in Maibwe on the Gope discovery. Campbell has more than 30-years' experience of working with exploration, development and production companies. He previously worked with the Botswana Diamonds' directors in African Diamonds where he was key to the discovery and development of the Karowe mine, which has transformed the supply of large, high quality (Type 2) diamonds.

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Churchill Mining (LON:CHL) has confirmed that all resolutions proposed at its annual general meeting today were passed.

At 4:11pm:

(LON:AAL) Anglo American PLC share price was +12.5p at 1197.5p

(LON:BEM) Beowulf Mining PLC share price was 0p at 5.38p

(LON:BKY) Berkeley Energia Ltd share price was 0p at 46p

(LON:CEY) Centamin PLC share price was -1.45p at 128.45p

(LON:CHL) Churchill Mining PLC share price was -0.63p at 37p

(LON:CZA) Coal of Africa Ltd share price was -0.08p at 3.52p

(LON:FDI) Firestone Diamonds PLC share price was 0p at 50p

(LON:FRES) Fresnillo PLC share price was -28.5p at 1171.5p

(LON:GEM) Gemfields PLC share price was +0.26p at 49.13p

(LON:GEMD) Gem Diamonds Ltd share price was -0.12p at 108.13p

(LON:HOC) Hochschild Mining PLC share price was -7.1p at 211.2p

(LON:KMR) Kenmare Resources PLC share price was +5p at 250p

(LON:RIO) Rio Tinto PLC share price was +18p at 3008p

(LON:RMM) Rambler Metals and Mining PLC share price was 0p at 9.5p

(LON:RRR) Red Rock Resources PLC share price was +0.08p at 0.65p

(LON:VED) Vedanta Resources PLC share price was +7p at 850p