Monday, October 17, 2011

MINEWEB.COM'S TOP STORIES: Freeport Grasberg's copper/gold pipeline cut, mine shut, output to fall significantly

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TOP STORIES | Monday , 17 Oct 2011                                                     

Freeport Grasberg's copper/gold pipeline cut, mine shut, output to fall significantly

The main pipeline carrying copper shipments from Freeport's strike-hit Grasberg mine has been cut and will result in a significant loss in production. Mine has been shut temporarily for security reasons    Monday , 17 Oct 2011

Rio Tinto retreats from aluminium, puts $8 bln of assets up for sale

In a move believed to be a major exit from its aluminium business, Rio Tinto announced plans on Monday to put 13 of its assets valued at an estimated $8 billion up for sale, but says it is in no rush to sell.    Monday , 17 Oct 2011

Large gold mines have major impact on Peruvian economy-WGC study

Peruvian gold mining plays an important role in government revenues, foreign direct investment, and local economies, a World Gold Council study reveals.    Monday , 17 Oct 2011

New drilling opens scope for rich epithermal silver field in South Australia

Investigator Resources is raising capital to carry out further drilling on what is described as a high grade epithermal silver field discovery in S. Australia and has boosted its share price.    Monday , 17 Oct 2011

Rio Tinto Simandou payment helping rebuild Guinea infrastructure

A significant amount of Rio Tinto's $700 million payment to settle its dispute over the huge Simandou iron ore will be used to help mend the country's dilapidated infrastructure.    Sunday , 16 Oct 2011

Romarco Haile gold project sparking S. Carolina gold rush

Romarco's successful exploration at its Haile gold project, although delayed a year for environmental reasons, is sparking something of a gold rush on the Carolina slate belt.    Sunday , 16 Oct 2011

Gold could go lower than anyone expects but then set for incredible opportunity

QE3 is going to make QE1 and QE2 seem like a little prelude and will set up a moon shot for precious metals and junior mining companies says Edward Karr. Gold Report interview.    Sunday , 16 Oct 2011

Latest COMEX futures: bullish trend on gold, bearish on copper

The latest CFTC figures show an increase in bullish bets on gold by money managers, but copper at highest short position for over 2 years.    Saturday , 15 Oct 2011

Huge Afghan rare earths riches - but who will risk developing them?

Afghanistan is known to have huge mineral resources and the latest to feature in this list is rare earths, but given the country's turbulent politics and civil war, who on earth would try to exploit them?    Saturday , 15 Oct 2011

The gold and mining stock bargain store on the TSX

Low metal prices and economic gloom have seen carnage among junior mining stocks - again. But the savvy investor should treat this phase as a major buying opportunity although there may yet be worse to come first.    Saturday , 15 Oct 2011

Deeper implications in gold bullion outperformance - Part 2

You don't need to be a gold-mining stock investor to wish gold would stop outperforming them soon as there are deeper implications to bullion's outperformance.    Saturday , 15 Oct 2011

Quadra FNX clings onto 2011 guidance as copper production surges 9% in Q3

As Quadra FNX reports record Q3 copper production, it also announces a 'win-win' deal with Xstrata on mine-access for its Morrison mine near Sudbury, Ontario.    Friday , 14 Oct 2011

Slumping ore-grade continues to plague Great Panther Silver in Q3

Disappointing metal output due to falls in ore grades in the third quarter forces Great Panther Silver to cut its 2011 production forecast sharply to 2.2 million ounces silver equivalent.    Friday , 14 Oct 2011

Gold building a base above $1650

While the bullion market was quiet on Friday, wholesale prices of the yellow metal climbed as high as $1,679 on Friday morning before easing back    Friday , 14 Oct 2011

Aluminium short-sellers? Are they to blame for the price fall?

Traders disagree with Alcoa CEO, Klaus Kleinfled, who believes short-sellers are to blame for the big fall in aluminium prices.    Friday , 14 Oct 2011

Three murdered at Freeport's giant Grasberg copper/gold mine

Gunmen shot and killed two people Friday, burned another to death and wounded four more at Freeport's massive Grasberg copper-gold operation in Indonesia.    Friday , 14 Oct 2011

Polymetal says it has full investor backing for UK share listing

The company will proceed with its plan to list in London, having secured the support of existing investors for a move that together with a $500 million capital raising could propel it to enter the FTSE 100.    Friday , 14 Oct 2011

Eurozone heart operation but still underlying support for gold - Market morning

Moves to prevent the Eurozone crisis worsening may stem the tide but fundamental problems still mean underlying support for the gold price.    Friday , 14 Oct 2011

Gold up 2.3% this week, eyes biggest weekly rise since September

The gold price is up 2.3% so far this week and remain on track to post its strongest weekly gain since early September, boosted by a fall in the dollar, which dipped against a basket of currencies.    Friday , 14 Oct 2011

U.S emergency coal mine response drill tests safety systems

Arch Coal, one of the U.S.'s largest coal mining companies has been testing its safety systems with an emergency response drill in conjunction with MSHA and the Virginia mines department. Arch's stated aim is to become the operator of the world's safest coal mines.    Friday , 14 Oct 2011

Redpath launches new powerful Redbore 90 raise drill

With its newly launched Redbore 90 raise drill, Canadian headquartered Redpath is seeking to tap demand for a unit capable of drilling 4.5-5.5m diameter raises and shafts of up to 600m+ in depth.    Friday , 14 Oct 2011

Weekend Top Story: Gold to silver ratio could be set to decline again

India may be the world's top consumer of gold, with 66% increase in demand in 2010 to 963.1 tonnes, but analysts are urging investors to shore up on the white metal, expecting the gold to silver ratio to drop.    Friday , 14 Oct 2011

PODCASTS / RADIO                                                     

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

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

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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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