Friday, July 29, 2011

MINEWEB.COM'S TOP STORIES: Vale extols "superb performance" of production, revenues in 2Q11

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FEATURED PODCAST                                                     

Europe, the US debt ceiling and the fundamentals of gold demand - HSBC

HSBC precious metals analyst, James Steel looks at the likelihood of increased volatility in the gold market and the continued growth in emerging market demand in the wake of the macro economic turmoil
 

TOP STORIES | Friday , 29 Jul 2011                                                     

Vale extols "superb performance" of production, revenues in 2Q11

Vale reported revenues and cash generation reached all-time high levels in the second quarter, which better equips the company to meet demand and return cash to shareholders.    Friday , 29 Jul 2011

Higher capex costs for Barrick Gold's project pipeline a challenge

While Barrick reported a 35% increase in net profit, weather-related delay, higher-priced consumables and labor, and design changes at major projects are swelling the capex budget.    Friday , 29 Jul 2011

Strong copper and coal prices boost Teck's Q2 net income

Diversified Canadian miner, Teck, nearly doubled Q2 EPS helped by strong copper and coal prices but warned full year coal sales will be at low end of its forecast range.    Friday , 29 Jul 2011

Potash Corp exceeds expectations with 75% jump in Q2 earnings

Canada's Potash Corp comfortably exceeded analysts' expectations with a strong increase in Q2 earnings as high grain prices lifted fertilizer demand    Friday , 29 Jul 2011

Silver Wheaton cuts 2011 attributable silver production forecast

Due largely to a slower than anticipated ramp-up at Goldcorp's Penasquito mine in Mexico, Silver Wheaton has had to cut its full year attributable silver production outlook    Friday , 29 Jul 2011

Centerra Gold Q2 profit more than doubles

An increase in the average gold price received to over $1500 an ounce helped Centerra Gold net income to more than double in Q2 compared with a year ago.    Friday , 29 Jul 2011

Novagold, Teck release $5.2Bn Galore Creek prefeasibility study, eye 2018 production

Novagold and Teck take a fresh look at the Galore Creek project in a prefeasibility study - one which NovaGold's Van Nieuwenhuyse says supports developing the project.    Friday , 29 Jul 2011

Should one still buy gold at, or near, its record high?

No-one wants to buy at the top, but has gold reached that level yet given that the U.S. is effectively insolvent and Europe too.    Thursday , 28 Jul 2011

India May gold sales up massive 161% yoy - gold rush continuing

The onset of the festive season in the world's biggest bullion marketplace from August is set to ensure a rally in gold prices, even as UBS records 161% jump in sales to India in the month of May, as compared to the same month last year.    Thursday , 28 Jul 2011

B2Gold boosts 2011 gold production despite Limon mine closure

Though an unfortunate mine accident which resulted in the death of a worker in June scrambled mine plans at B2Gold's Limon mine in Nicaragua, gold production in the second quarter remained on track.    Thursday , 28 Jul 2011

Ivory Coast gold output to almost double in 2 years - Minister

Gold production capacity in Ivory Coast to hit 13 tonnes by 2013 up from 7 tonnes currently and reach, 20 tonnes by 2020    Thursday , 28 Jul 2011

New Zealand's premier gold miner hits a purple patch

New Zealand's leading gold miner has shown up many of its Australian counterparts in terms of really making hay with the sun shining on the gold price.    Thursday , 28 Jul 2011

South African police squad raids Minerals Dept in corruption investigation

The South African Police Service has raided offices of Imperial Crown Trading and of the Department of Mineral resources over the alleged corrupt issuance of rights to part of the huge Sishen iron ore deposit.    Thursday , 28 Jul 2011

Kazakhmys H1 copper production falls but still on target

As forecast earlier, London listed Kazakh copper miner Kazakhmys saw a fall in H1 copper output but better grades should see iut meet its 300,000 tonne full year target    Thursday , 28 Jul 2011

Coal India seeking to acquire stake in Indonesia's Golden Energy for around $1bn

Coal India, which is keen to acquire coal mines abroad, has finished its initial negotiations with Indonesia's Golden Energy Mines and is awaiting the Indian government's nod for a $1 billion buy.    Thursday , 28 Jul 2011

Xstrata bidding for Canadian coal explorer

Major miner Xstrata is making an agreed $153 million bid for Canada's First Coal Corporation which owns coking coal exploration leases in British Columbia    Thursday , 28 Jul 2011

South Africa's gold miners start strike today as 'strike season' hits other sectors too

South African gold miners are commencing a 48-hour strike over wages today, but coal, platinum and diamond sectors may also be heading in same direction    Thursday , 28 Jul 2011

Cliffs Q2 profits up 56%, but well below expectations

Sharply rising costs dented Cliffs Natural Resources profits picture and share price fell as a result    Thursday , 28 Jul 2011

Steel Authority of India scraps $1.2bn deal with Japan's Kobe Steel

SAIL's plans to rebuild a steel mill with Japan's Kobe Steel has been stymied with the Indian government restricting natural gas supplies, though SAIL has decided to proceed on its own to build an associated power plant.    Thursday , 28 Jul 2011

Yesterday's top story: Average U.S. house price = one 100 ounce gold bar - nearing low?

Inflationary or deflationary depression, it's like the long boom of affordable mortgages never happened as U.S. house prices near historical low point in relation to gold.    Wednesday , 27 Jul 2011

PODCASTS / RADIO                                                     

Anglo Platinum Results - Neville Nicolau – CEO, Anglo Platinum

A better second half in prospect. But what if the threatened strike goes ahead?

Copper price volatility expected - Monica Bonar, Fitch

With the impact of the macro-economic concerns on the one hand and supply disruptions on the other copper markets are likely to continue to be choppy

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

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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

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