RapidEye Now Has the Lion's Share of Africa

RapidEye, a geospatial solutions provider that owns and operates a constellation of five identical Earth Observation satellites, announced that it has recently completed an extensive imagery campaign over Africa. The campaign, which ran for 25 weeks from September of 2010 until March 1, 2011, produced more than 107 million km² of the continent of Africa.

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Barrick Delivers Record Numbers

Barrick achieved higher production and lower cash costs in 2010. The company produced 7.77 million oz at total cash costs of $457/oz. The average gold price increased 26% in 2010 while full year adjusted net income rose 81% to $3.28 billion and adjusted operating cash flow increased 65% to $4.78 billion from 2009. The company anticipates next year’s production will be comparable to 2010 in the range of 7.6-8 million oz at total cash costs of $450-$480/oz.

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Vale Has Its Best Year

Vale recently reported stellar performance for the fourth quarter and 2010 overall. The company posted all-time high figures for operating revenues, operating income, operating margin, cash generation and net earnings. At the same time, the Brazilian iron ore producer allocated the greatest amount of resources in the global mining industry to fund the creation of new platforms for future growth to sustain high performance, explained Roger Agnelli, CEO, Vale.

“We are living through our best days,” Agnelli said. “However, given the size and quality of our pipeline of growth projects amid a scenario of sustained global demand growth for our products, I strongly believe even better days are ahead of us.”

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Stillwater Mining Reports Highest Earnings in a Decade

Stillwater Mining Co. recently reported 2010 net income of $50.4 million on revenues of $555.9 million. Contributing to the net income in 2010 were higher PGM prices and a recovery in recycling volumes, along with continued focus on productivity and controlling costs.

The 2010 net income compares to a full-year 2009 net loss of $8.7 million on revenues of $394.4 million. In addition to other accounting related expenses, the results for 2009 also reflected significant operating losses incurred early as production costs at the company’s mines for a time exceeded average sales. However, restructuring efforts and a gradual increase in PGM prices had reversed this trend by the end of the first quarter of 2010.

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