Thursday, July 21, 2011

MINEWEB.COM'S TOP STORIES: House Resources Committee unanimously approves Strategic/Critical Minerals Policy Act

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TOP STORIES | Thursday , 21 Jul 2011                                                     

House Resources Committee unanimously approves Strategic/Critical Minerals Policy Act

Legislation advocating a national inventory of U.S. mineral resources, along with a coherent national strategic and critical minerals policy has received the strong backing of the House Natural Resources Committee.    Thursday , 21 Jul 2011

Wafi Golpu copper-gold deposits now a billion tonne resource - Harmony

Harmony Gold has reported a huge increase in the Wafi Golpu copper-gold resource in PNG where it is in a jv with Newcrest with a big tonnage increase and higher grades as drilling continues,    Wednesday , 20 Jul 2011

Junior potash stocks surge as potash prices strengthen

Shares in Passport Potash and Allana Potash climbed rapidly on Wednesday with no obvious catalyst but, one analyst notes that actual potash prices continue to climb higher in Southeast Asia and Brazil."    Thursday , 21 Jul 2011

2011 silver equivalent production at Hochschild Mining still within guidance

In spite of a 13% drop in silver equivalent ounces in 1H11, Hochschild Mining insists it will achieve its targeted 22.5 million silver equivalent ounces this year.    Thursday , 21 Jul 2011

Quarterly gold output jumps for Newcrest

The Australian gold major announced a 16% jump in quarterly gold production, bringing production for the full year to 2.7m ounces, in line with recently lowered guidance    Thursday , 21 Jul 2011

Axmin bringing on board SA bank to source up to $230M debt to build gold mine

Axmin has signed a mandate letter with South African bank to underwrite a $100 million loan, and help source another $130 million to finance Passendro gold mine in Central African Republic    Wednesday , 20 Jul 2011

China-led copper bull market to continue into 2012

Demand from Chinese buyers is expected to return to the copper market in the second half of 2011 which is expected to help buoy prices of the red metal    Wednesday , 20 Jul 2011

Another Randgold milestone for major Kibali gold mine achieved

With the initial relocation of the first families from the Kibali gold mine site to a new town which is being built specially, Randgold is on track to begin onsite construction of one of Africa's biggest gold mines.    Wednesday , 20 Jul 2011

Selling gold? Go ahead but don't take profits!

Gold priced too high? Don't mistake selling it for just taking a profit...Dollars, Euros, sterling or yen are not the right option - they no longer represent a stable store of value.    Wednesday , 20 Jul 2011

Kumba announces jump in H1 earnings on higher export prices

The South African iron ore producer said higher export prices helped boost earnings in the first half of the year but, expects a slight downward pressure on prices in the last quarter of 2011.    Thursday , 21 Jul 2011

Strikes to spread to South Africa's diamond sector

Workers at De Beers said Wednesday they would go on strike this week as negotiations in the coal mining sector reach deadlock, raising fears of power supply disruptions    Thursday , 21 Jul 2011

Suncoke prices IPO in middle of previously set range

The met coal producer, spun out of oil refiner Sunoco, priced its IPO at $16 per share and the sale of 11.6m shares is set to leave Sunoco with an 83.4% stake and Suncoke with an implied market cap of $1.1bn    Thursday , 21 Jul 2011

China has no intention to manipulate rare earth prices - ministry

The country's industry ministry told reporters that export quotas are designed to protect China's environment and ensure smooth operation of its industry    Thursday , 21 Jul 2011

Iron ore traders do not see big summer spike in iron ore prices

Spot iron ore prices remained steady on Thursday as strong demand from the construction sector helped buoy prices but, traders expect demand to pick up properly in September    Thursday , 21 Jul 2011

China says cannot invest 'too much' in gold and silver

In calling for the U.S.to take 'responsible' measures on the economy and debt, China's FX regulator says country can't buy too much gold as the market is too small.    Wednesday , 20 Jul 2011

Tavan Tolgoi coal resource could be as much as 7.5bn tonnes

Mongolia's Prime Minister told local media that the massive coal deposit could hold as much as 7.5bn tonnes of coal, more than 15% higher than current estimates of the project indicate    Wednesday , 20 Jul 2011

Missing Russian coal miners found dead

The bodies of two miners that went missing when a Russian coal mine collapsed in the Arctic on Saturday have been found    Wednesday , 20 Jul 2011

Yesterday's Top Story: The Hills are alive with the Sound of (imaginable) Molycorp REE Deals

Molycorp's Silmet acquisition is a game changer for Molycorp and a mold-breaker for the industry and could leave other players floundering    Wednesday , 20 Jul 2011

PODCASTS / RADIO                                                     

Gold price floor to remain above $1,000 for at least the next decade - Jeff Christian

A look at the likely trajectory of the gold price given the current macro-economic situation and a the similarities between this recent move and silver's charge at $50 in April

Gold's new record - Its all about real interest rates - Paul Walker

"if you deconstruct the last ten years in the gold market, the one underlying common denominator has been the search for yield in a world of negative real interest rates"

Copper likely to trade as high as $11,000 before year end - Tom Kendall

A look at the fundamentals behind copper's recent run and expectations of further growth as China comes back into the market

URSA Major Minerals drills 23.7 meters of 0.55% Nickel and 0.36% Copper from Shakespeare East Nickel Deposit, Sudbury area, Ontario

URSA Major Minerals (UMJ:TSX) reported this morning at 06:53a ET, it has drilled 23.7 metres of 0.55% Nickel and 0.36% Copper from Shakespeare East Nickel Deposit, Sudbury area, Ontario.  Within U3-122's 23.7 metre intersection, a highlight included 5.19 metres grading 0.81% nickel, 0.48% copper, 0.03% cobalt and 1.20 g/t precious metals.  Please see the attached release for more details. Richard Sutcliffe, URSA Major's CEO commented "This drilling program has extended the strike length of Shakespeare mineralization to over 1.6 kilometers.  The intersection in hole U3-122 demonstrates that there is a zone of higher-grade nickel mineralization in the Shakespeare East deposit within a wider envelope of nickel-copper mineralization.  Our program of targeting with bore-hole EM surveys continues to be a successful strategy in delineating mineralization." For the full release click here

 

 

CONFERENCES

Diggers and Dealers 2011 Forum
Date: 01 August 2011 - 03 August 2011
Venue: Kalgoorlie, WA
This important Australian annual mining conference combines presentations by listed mining and exploration companies with a large exhibition area housing exhibitors from the mining, exploration and service sectors. Read More
Denver Gold Forum 2011
Date: 18 September 2011 - 21 September 2011
Venue: Broadmoor Hotel & Resort, Colorado Springs, USA
Major event hosted by the Denver Gold Group, The Denver Gold Forum will showcase institutional-quality precious metals companies to global fund and portfolio managers, institutional investors and analysts. Mineweb's Dorothy Kosich will attend Read More

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Editorial

Europe

Lawrie Williams, London
Geoff Candy, Groningen
Rhona O'Connell, London

Americas

Dorothy Kosich, Reno
Kip Keen, Halifax, NS

Asia and Australasia

Shivom Seth, Mumbai
Ross Louthean, Perth
Kerry Stevenson, Sydney

Sales and Marketing
Jan Chadwick, International
Wendy Hora, Australasia

Editor in Chief

Alec Hogg, Mooi River, SA

 

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