The key results for the year include:

• FY10 gold production of 79,827 ounces at a cash operating cost of $864/oz
  • Henty Gold Mine production of 43,178 oz at a cash cost of $890/oz.
  • Kangaroo Flat Mine production of 36,649 oz at a cash cost of $833/oz.
• Company revenue of $102.1 million, which after deducting mine operating costs of $71.8 million, indirect costs of mining of $5.3 million (plant, equipment and underground development at the Kangaroo Flat Mine), and D&A of $6.2 million (of which $3.9 million related to Henty), generated a gross profit of $18.9 million.
• Net profit increased by 36% to $11.2 million.
• Earnings per share increased by 29% to 2.2 cents per share.
• Company cashflow before exploration and capital was $28 million. The statutory reported operating cash flows of $17.2 million is after $10.8 million of Kangaroo Flat exploration, plant, equipment and underground development expenses (expensed in line with accounting practice for this site).
  • Other investments in the year included the $4.2 million Henty acquisition payment, $2.5 million dividend payment and $4.3 million investment in GoldStone Resources Limited.
• During the year the Company invested $7.8 million on exploration and $10.9 million on mine development and plant and equipment.
• The Company’s closing cash position remained at $57.2 million at 30 June 2010.

Researchers, resource exploration companies and their support industries will be able to properly test their equipment at a new facility set up in Western Australia.

Mining technology services company, Runge Limited (Runge), announced its results for the 12 months ended 30 June 2010 (FY10), delivering a net profit after tax of $2.3 million in line with the most recent guidance issued by the Company.

Overview

Runge’s FY10 results reflected the difficult market conditions, including:

• Revenue of $79.0 million (FY09: $83.0 million; 2H10: $41.4 million; 1H10: $37.6 million)
• EBITA of $5.8 million (FY09: $12.7 million; 2H10: $3.0 million; 1H10: $2.8 million)
• Net profit after tax of $2.3 million (FY09: $7.9 million)
• Earnings per share of 1.8 cents (FY09: 6.4 cents)
• Software Maintenance revenue maintains steady growth (up 10% on FY09)

Rio Tinto today announced an investment of US$1.6 billion to develop the Hope Downs 4 iron ore project in Western Australia and link with Rio Tinto's existing rail, power and port infrastructure in the Pilbara. 

Golden Rim Resources Ltd (ASX: GMR, Golden Rim) today announced that it has finalised an agreement to acquire an additional gold exploration permit in Burkina Faso, West Africa. 

Goldcorp. INC. (GG: NYSE; G: TSX) announced that the Los Filos mine in Mexico has become fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (“the Cyanide Code”). 

• Another strong set of financial results, with growth in Underlying EBITDA and Attributable profit (excluding exceptional items) of 10% and 16% respectively.
• Record sales volumes achieved in iron ore, metallurgical coal and petroleum with local currency costs well controlled across the Group.
• Underlying EBIT margin(1) of 41% and Underlying return on capital of 26% demonstrates the strength of our uniquely diversified business model.
• Continued investment in our business successfully delivered another five growth projects.
• Cash flow for the year remained strong and resulted in net debt declining further to US$3.3 billion while net gearing declined to 6%.
  Final dividend of 45 US cents per share, resulting in a dividend for the full year of 87 US cents per share.

Former Australasian Resources And Rio Tinto Executive Joins The Gindalbie Team 

Rio Tinto Coal Australia's Kestrel Mine has won the People's Choice Award at the annual Queensland Mining Industry Health and Safety Conference. 

REMA TIP TOP GmbH has received a comprehensive AEO F export certificate from the responsible Central Customs Office in Rosenheim, thus showing, as an export-oriented company, its dependability in the marketplace. 

Kinross Gold Corporation (TSX: K, NYSE: KGC) announced that, further to the Company's news release dated July 23, 2010, it has completed the sale of the 22.5% interest in the partnership holding Harry Winston Diamond Corporation's (TSX-HW; NYSE-HWD) ("Harry Winston") 40% interest in the Diavik Diamond Mines joint venture to Harry Winston for US$220 million.