Monday, October 10, 2011

MINEWEB.COM'S TOP STORIES: World Bank's ICSID appoints Crystallex-Venezuela Las Cristinas tribunal

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TOP STORIES | Monday , 10 Oct 2011                                                     

World Bank's ICSID appoints Crystallex-Venezuela Las Cristinas tribunal

A tribunal has been named to review the claim of junior miner Crystallex against the Chavez Administration regarding the cancellation of the Las Cristinas gold mine development permit.    Monday , 10 Oct 2011

Court of Appeals dismisses C$36m judgment against Inco/Vale refinery

A verdict in favor of residents living in the vicinity of Inco's former Port Colborne smelter, which some feared could have spawned other lawsuits from historic pollution, has been overturned.    Monday , 10 Oct 2011

Australia approves $20-30bn Olympic Dam mine expansion

Global diversified miner BHP Billiton moved a step closer to expanding its large-scale Olympic Dam copper and uranium mine in Australia on Monday, after securing environmental approvals for the project.    Monday , 10 Oct 2011

Inflation, deflation, stagflation - all will benefit the gold price

Gold is a non-national asset which becomes protection against inflation, deflation, and stagflation across the globe and it's these qualities that will force the monetary system to bring gold back into the global, monetary system.    Saturday , 08 Oct 2011

Camino Minerals gets mixed-bag of drill results at Rodeo

While early step-out drillholes have not hit as strong gold and silver grades as Camino Minerals has fetched to the south - namely 207 m @ 1.06 g/t Au and 12.94 Ag - the bulk of drilling results are still pending.    Saturday , 08 Oct 2011

India's steel ministry plans to increase iron ore export duty to 30%

In a move that could push up prices, India's steel ministry is said to be considering a proposal to increase iron ore export duties, to ensure sufficient local supply of the raw material    Friday , 07 Oct 2011

Valuing gold in this economy, invest in resources and survive the death of money

When the currency system as we know it dies, some people will become very wealthy. In this report from the Casey Research/Sprott Inc. Summit "When the Money Dies," The Gold Report talks to Rick Rule, Louis James and Marin Katusa.    Saturday , 08 Oct 2011

Gold miners valued on far lower gold prices than currently being achieved.

Even though gold prices are well off their highs, gold miners will be still making huge profits at current prices and, when quarterly earnings are released shortly perhaps the market will recognise this and re-rate the miners.    Friday , 07 Oct 2011

Protester dies during demonstration at Freeport's Grasberg mine

Two protestors were shot and one was killed when thousands of striking workers seeking higher wages and better conditions at the Indonesian copper miner pushed to enter their barracks on Monday    Monday , 10 Oct 2011

China Guangdong Nuclear Power Corp to re-launches Kalahari Minerals talks

Kalahari Minerals confirmed Monday that offer talks have recommenced with CGNPC following a temporary ban by UK authorities; the Chinese firm is expected to re-launch its 270 pence offer for the miner    Monday , 10 Oct 2011

Gold Fields/Orsu Metals Kyrgyz mining camp attacked

In what is a second such attack this year, a mob of armed horsemen attacked an exploration camp at the Talas Copper Gold JV between Gold Fields and Orsu Metals, setting fire to several buildings.    Monday , 10 Oct 2011

Sudan targets 7t gold in 2011; plans new refinery in 2012

Sudan expects its mining sector to produce some 7 tonnes of gold this year and plans to launch a new gold refinery in 2012, Minerals Minister Abdelbagi Gailani Ahmed said on Sunday.    Monday , 10 Oct 2011

China Nickel offers $266 mln for Indonesia's Yiwan Mining

The Chinese firm will spend $266 million to acquire an 80% equity stake in Indonesia's PT Yiwan Mining to ensure consistent supply of nickel-iron ores and mineral resources.    Monday , 10 Oct 2011

Avion Mali gold mine output battered by rainfall, port closure

It was a disappointing quarter for Avion in terms of gold production, as heavy rains and a port closure saw it miss its own and analyst targets but expansion plans on schedule.    Friday , 07 Oct 2011

UBS downgrades Tata Steel from Buy, to Neutral

The bank has cut its price target for the steelmaker by nearly half on the back of a poor outlook for its European operations and an expectation that the steel maker will see a decline in earnings    Monday , 10 Oct 2011

Gold coming back to favour with top fund managers

After a testing quarter, where many top performing fund managers took defensive positions in cash, gold is proving again to be a favourite although some expect more sideways to downwards movements first    Friday , 07 Oct 2011

Nationalisation debate hurting SA mining sector - AngloGold CEO

Mark Cutifani, AngloGold Ashanti CEO, said yesterday that recent talk of mine nationalisation is hurting investment into the country's mining sector.    Monday , 10 Oct 2011

Union leaders pessimistic after Friday's failure to reach agreement with Freeport

According to union leaders, the two sides were no closer to an accord after talks, aimed at ending an indefinite strike that began on September 29 at Freeport's Cerro Verde mine, ended on Friday    Saturday , 08 Oct 2011

Money managers, hedge funds, scale back bullish gold futures bets

As gold bullion continued to weaken, managed money in COMEX gold cut 2,253 lots from their net long positions in the week ended Oct. 4 to 127,249 lots    Saturday , 08 Oct 2011

Zambia copper strikes spread; Chinese mines hit

The ongoing strike plaguing Zambia's copper industry, widened on Friday as more miners joined those already striking in pursuit of higher wages, with Chinese miners mostly hit.    Friday , 07 Oct 2011

Indian state ban batters Vedanta's Q2 iron ore output

Vedanta's saleable iron ore output fell in the second quarter, resulting in a 61% loss as the mining ban imposed by India's southern Karnataka state affected the miner.    Friday , 07 Oct 2011

Scoping study begins at Western Australian vanadium project

A vanadium project in the Mid West region of Western Australia is to undergo a scoping study for Perth junior company Quest Minerals    Friday , 07 Oct 2011

Weekend Top Story: Why gold is not yet at $2,000 - the financial markets effect.

Only a couple of months ago the gold price seemed to be heading rapidly towards the $2,000 mark, yet is now only trading in the $1600s. Why?    Friday , 07 Oct 2011

PODCASTS / RADIO                                                     

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

More QE needed as western worries hit base metals -Edison

Edison Investment Research's Charles Gibson looks at some of the reasons behind the recent falls in base metals and argues the case for further quantitative easing.

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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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