Wednesday, November 2, 2011

MINEWEB.COM'S TOP STORIES: Indonesian Gov't. persists in contract re-negotiations despite Grasberg woes

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FEATURED PODCAST                                                     

Harmony's Quarterly earnings, dividends and Wafi Golpu - Graham Briggs

A look at Harmony Gold's quarterly numbers, the group's dividend plans and Wafi Golpu which, Briggs says, is going to be rather reminiscent of Freeport's Grasberg mine
 

TOP STORIES | Wednesday , 02 Nov 2011                                                     

Indonesian Gov't. persists in contract re-negotiations despite Grasberg woes

As FCX officials continue to grapple with the Grasberg strike and demands to re-negotiate the operation's contract of work, its Tenke Fungurume operation will undergo another expansion.    Wednesday , 02 Nov 2011

Seabridge bets on better gold grades, deposit size at Courageous Lake

Drilling results return higher than expected gold grades at Courageous Lake for Seabridge Gold; it hopes these could translate into a bigger, better multi-million ounce gold deposit in Canada's North.    Tuesday , 01 Nov 2011

Zimbabwe given go-ahead to sell Marange diamonds

The World Diamond Council said Tuesday the US, Canada and the EU had finally dropped their objections to the sale of diamonds from Zimbabwe's controversial Marange fields, following verification by the Kimberley Process.    Wednesday , 02 Nov 2011

Gold mining stocks: going sideways with small and microcaps doing well

An analysis of the performance of gold mining stocks vs the gold price shows that those which look to have performed best in the year to date are small and microcap pure gold plays.    Tuesday , 01 Nov 2011

Western Potash beats the Street with new Milestone prefeasibility study

With potash prices strong and Western Potash making solid progress at its Milestone project, the question of a takeover has raised its head again but, who might want to build $2.8 billion potash mine?    Tuesday , 01 Nov 2011

Gold could be poised for a big move

The latest move from Greece, which has put the whole Eurozone Greek rescue package in doubt again, could have a dramatic effect on the gold price.    Tuesday , 01 Nov 2011

Australia's proposed mining tax enters parliament

The controversial 30% mining tax, which Australia's minority government plans to apply from the next fiscal year starting in July, was brought to parliament on Wednesday amid growing risks that it will be blocked or get bogged down in a renewed debate.    Wednesday , 02 Nov 2011

Randgold Q3 profit up on gold production boost

The West African-focused miner said profit for the third quarter rose to $122.9m on the back of higher prices for the metal and an 80% jump in gold production    Wednesday , 02 Nov 2011

Congo's state miner refuses to publish revised contracts

The DRC's Gecamines has refused a request from the mines ministry to publish all revised mining contracts, saying it has no legal basis and doubts the firms and mining partners involved would consent to it.    Wednesday , 02 Nov 2011

Coal still important for SA but, adaption and development vital

While coal is often considered a dirty word, it still has a major role to play in South Africa but, development and economic freedom need to be prioritised.    Tuesday , 01 Nov 2011

Revived gold/copper/silver mining project in NSW gains added resources

Kimberley Metals has announced an expanded resource at its Mineral Hill property in NSW - This expansion includes high grade gold, broader copper-gold and separate lead-zinc resources.    Tuesday , 01 Nov 2011

OneSteel cuts Nov/Dec earnings guidance, shares dive

The company's decision to cut its earnings expectations for November and December due to the recent collapse in iron ore prices saw its shares fall 17% to an 11-year low on Tuesday.    Wednesday , 02 Nov 2011

China to impose rare earths invoice system to curb illegal sales and regulate prices

Mandatory production limits of rare earths have been broken each year due to lack of strict enforcement within China, thus a new invoice system is set to curb overproduction and force speculators to exit the market.    Tuesday , 01 Nov 2011

Indonesia's Bakrie to sell 23.8% Bumi stake for $1 bn

In an effort to avoid a loan default, the Bakrie Group will sell a 23.8% stake of its London-listed JV Bumi Resources to coal miner PT Borneo Lumbung Energi in a $1 billion deal.    Tuesday , 01 Nov 2011

De Beers signs $2 bn debt refinancing deal

De Beers' newly signed $2 billion debt deal will be used to refinance an existing $3 billion multicurrency revolving facility and a $200 million loan agreement.    Tuesday , 01 Nov 2011

Grasberg copper concentrate pipeline will take a month to fix

Freeport Indonesia says it will take a month to fix the main 120 km long pipeline that takes concentrate from its strike-hit Grasberg copper mine to the port, after it was cut on Oct 17 in what the company described as sabotage.    Tuesday , 01 Nov 2011

Sandvik Q3 core profit slightly better than expected

Despite posting a slightly bigger rise than expected in its third-quarter core operating profit, Swedish firm Sandvik anticipates the economy to weaken in forthcoming quarters and is readily preparing itself.    Tuesday , 01 Nov 2011

Anglo acquires 10th Thoroughtec mining simulator for Peace River Coal

South Africa's Thoroughbred Technologies, the specialist simulator manufacturer with a section specialising in mining equipment simulation for training, has sold a new simulation system to Anglo American's Peace river Coal operation in Canada.    Tuesday , 01 Nov 2011

Yesterday's Top Story: Royal Canadian Mint's new gold ETRs program challenges gold ETFs

The Royal Canadian Mint is taking the gold ETFs head-on with the introduction of the new Canadian Reserves gold ETR program aimed at eliminating the middleman in direct gold ownership.    Tuesday , 01 Nov 2011

PODCASTS / RADIO                                                     

Behind iron ore's price slump - Rhynhardt Roodt

A look at the reasons behind the 34% drop in iron ore prices during October and what this means for earnings going forward

Gold Bullion, confidence and the European crisis - Julian Phillips

Goldforecaster founder, Julian Phillips looks at the likely implications of the ongoing European crisis on the gold market and the longer term outlook for the yellow metal

Petmin's plans through the cycle - Ian Cockerill

Petmin's, executive chairman, Ian Cockerill looks at the reasons behind the diversified mining group's recent acquisitions given the macro-economic environment facing miners

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CONFERENCES

Gold & Silver Investment Summit 2011
Date: 07 November 2011 - 07 November 2011
Venue: Royal Garden Hotel, Kensington, London, UK
Annual conference that aims to link junior exploration & emerging gold and silver producing companies plus expert keynote speakers & analysts with financial institutions, brokerage firms, corporate finance & investment houses involved in the precious metals, resource & commodity markets Read More
The Gold Symposium 2011
Date: 14 November 2011 - 15 November 2011
Venue: Luna Park, Crystal Palace, Sydney, Australia
The 2-day event will feature presentations by world‑renowned precious metals and monetary experts and gold mining company CEOs. Read More
2011 NWMA Mining Conference and Exhibition
Date: 27 November 2011 - 02 December 2011
Venue: John Ascuaga's Nugget Hotel, Reno, USA
Important regional conference and exhibition being held in Reno this year. Mineweb's Dorothy Kosich will be attending. Read More
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Date: 27 November 2011 - 28 November 2011
Venue: San Francisco Marriott, USA
The San Francisco Hard Assets Investment Conference offers the attendee advice on resouce sector investment and the chance to meet many of the companies involved. Read More

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ENGINE ROOM

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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