Wednesday, October 12, 2011

MINEWEB.COM'S TOP STORIES: Agnico-Eagle announces record 9 mo. gold production of 757,668 ozs

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FEATURED PODCAST                                                     

Gold's bull market to continue but, more exploration is needed - Lassonde

Franco Nevada Chairman, Pierre Lassonde, looks at the macro economic reasons why gold is still likely to go higher, the financialisation of the market and the state of exploration
 

TOP STORIES | Wednesday , 12 Oct 2011                                                     

Agnico-Eagle announces record 9 mo. gold production of 757,668 ozs

Although Agnico-Eagle achieved record gold production for the first nine months of this year, Scotia Capital suggests the company may have an uphill climb to achieve its 2011 production guidance.    Wednesday , 12 Oct 2011

B2Gold sees next mine in Africa following $160m Auryx takeover

In a conference call with analysts and investors, B2Gold President and CEO Clive Johnson outlines a future for Auryx's Otjikoto gold project in Namibia as its next operating mine.    Wednesday , 12 Oct 2011

What economic uncertainty means for the rare earth sector

The rare earth sector has seen astronomical gains in recent years. In this Critical Metals Report article Chris Berry argues that a "Great Reset" is changing the face of the sector, rewarding explorers far more selectively.    Wednesday , 12 Oct 2011

Hecla Mining pays record $77.5m partial settlement to U.S. Feds

As part of a June settlement to clean up historic mining contamination at the Bunker Hill Superfund site, Hecla Mining has made a record partial payment to the U.S. Government.    Wednesday , 12 Oct 2011

Extorre hits more bonanza silver-gold in Patagonia

While Extorre Gold Mines racks up more high grade silver-gold intercepts at its Cerro Moro project as it moves to update resources, drills continue to turn in the hunt for more precious metals.    Tuesday , 11 Oct 2011

Alcoa's Q3 profit, sales drop on weak market conditions

The aluminium miner's third-quarter profit and sales slipped on the wake of an economic slowdown that knocked demand and prices for the metal.    Wednesday , 12 Oct 2011

DRC's potential as African development powerhouse: UNEP warns of critical threats

The Democratic Republic of Congo has enormous resource riches including huge mining and hydro-electric potential and enormous natural resources, but there are also alarming trends apparent - particularly in environmental degradation.    Wednesday , 12 Oct 2011

Luxury market in China, India to push jewellery sales

The luxury goods market globally had sales of $250bn in 2010, and analysts say China and India's portion of that is set to grow, with India focusing on jewellery.    Tuesday , 11 Oct 2011

Strike-hit Grasberg copper mine's output rises over 4,000 t/d

Freeport reported on Wednesday that copper production at its Grasberg mine in Indonesia peaked at over 4,000 t/d in October despite the worker strike that started in September.    Wednesday , 12 Oct 2011

BHP earmarks $1.2bn to start Olympic Dam expansion works

BHP Billiton has preapproved $1.2 billion to start the initial expansion works at its Olympic Dam mine, subject to parliamentary approval of a binding agreement with South Australia.    Wednesday , 12 Oct 2011

Bolivia passes law to buy local gold

Bolivian President Evo Morales signed a bill into law on Tuesday that will allow the country's central bank to buy gold from local miners at global prices to boost its reserves.    Wednesday , 12 Oct 2011

BHP Billiton, South Australia agree Olympic Dam royalty fees

Global miner BHP Billiton, expected to make a final investment decision on the Olympic Dam mine expansion, has agreed to pay South Australia a 5% royalty for uranium and 3.5% for other metals.    Wednesday , 12 Oct 2011

First Uranium sales jump quarter-on-quarter

First Uranium's second-quarter gold sales rose 17.7% to 40,529 oz while uranium was up 76.8% in the same period, despite issues at both its projects in South Africa.    Wednesday , 12 Oct 2011

DRC's Twangiza mine delivers first gold

New York and Toronto-listed Banro Corp's Twangiza mine in eastern DRC delivered first gold on Tuesday and is planned to yield more than 1 million gold ounces from oxide deposits over seven years.    Wednesday , 12 Oct 2011

ERA placed on trading halt pending capital raising announcement

The uranium miner was placed on trading halt on Wednesday pending an announcement regarding a capital raising for its troubled waste disposal operations in Australia's tropical north.    Wednesday , 12 Oct 2011

Freeport must respect Cerro Verde strike or pay fine - Peru govt.

Peruvian government officials say Freeport has until Wednesday to heed the state's request to stop relying on volunteer workers to keep its Cerro Verde mine afloat or face fines of between $14,505 and $26,383.    Wednesday , 12 Oct 2011

ENRC to buy remaining 75% of Kazakh coal producer

The miner plans to pay ENRC's founder shareholders as much as $650m for the outstanding stake in Shubarkol Komir in order to gain access to low-cost coal for use by its existing operations.    Tuesday , 11 Oct 2011

Ghana in talks with gold miners over additional taxes

In an effort to ensure that the country sees more benefit from soaring gold prices, Ghana's government is said to be in talks with gold miners about additional taxes    Tuesday , 11 Oct 2011

Centamin on track to meet 2011 gold target

The miner says it remains on track to produce 200-210,000 gold ounces from its Sukari mine in Egypt at a cash cost of about $550 an ounce.    Tuesday , 11 Oct 2011

Yesterday's Top Story: China installs gold vending machine, plans 2,000 more

With plans to roll out 2,000 more throughout the country, the Beijing Agricultural Commercial Bank officially installed its first gold ATM during the Chinese National day holiday.    Monday , 10 Oct 2011

PODCASTS / RADIO                                                     

Base metal outlook still good, even if Europe continues to deteriorate - Natixis

Natixis's Nic Brown believes that while there are a few similarities between the current situation and 2008, the differences mean that base metals are unlikely to fall as hard, even in a worst case scenario.

Banking crisis concerns and the implications for mine finance - Mark Tyler

Nedbank Capital's head of Resource finance, Mark Tyler, looks at the similarities and differences between the current climate and 2008 and what miners can do to secure funding

Gold stock de-rating close to running its course - Blackrock

Evy Hambro, manager of the Blackrock Gold and General Fund, says that gold bullion prices remain well supported and is expecting fantastic earnings from gold stocks this year

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Editorial

Europe

Lawrie Williams, London
Geoff Candy, Groningen

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

Production

Lindiwe Molekoa, Johannesburg

Editor in Chief

Alec Hogg, Mooi River, SA

 

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