Thursday, November 3, 2011

MINEWEB.COM'S TOP STORIES: USW calls for DOJ investigation of reported FCX foreign corrupt practices

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FEATURED PODCAST                                                     

Gold prices, cash costs and Randgold quarterlies - Mark Bristow

Randgold CEO, Mark Bristow, talks about the direction of the gold price, cash costs and the group's latest set of quarterly numbers
 

TOP STORIES | Thursday , 03 Nov 2011                                                     

USW calls for DOJ investigation of reported FCX foreign corrupt practices

The U.S. Department of Justice has been asked to investigate if Freeport-McMoRan has violated the Foreign Corrupt Practices Act through alleged bribery of Indonesian security forces.    Thursday , 03 Nov 2011

Kinross reports 134% increase in 3Q11 adjusted net earnings

With a 19% increase in GEO for the first nine months of the year, Kinross remains on track to meet forecast guidance of 2.6 million to 2.7 million GEO this year.    Thursday , 03 Nov 2011

Australia's mining tax to hurt junior miners - Fortescue

Fortescue Metals Group founder Andrew Forrest says the Australian government has to rethink the 30% mining profits tax, because it will force junior miners to shoulder the tax burden while global miners pay nothing.    Thursday , 03 Nov 2011

Yamana reports record $190m adjusted earnings for 3Q11

Yamana Gold expects to meet both gold equivalent ounces guidance and copper guidance this year as cumulative GEO is already up 8.5% this year.    Thursday , 03 Nov 2011

Torex surges on Mexican drilling results

Shares in Torex Gold jumped on Wednesday after its latest set of drilling results added intrigue to its Morelos gold deposit and reconfirmed its target of five million ounces of gold    Thursday , 03 Nov 2011

The questions resource investors should be asking - Michael Berry

Dr. Michael Berry looks at the impact of the EU crisis on the gold market and the types of questions that investors should ask before making decisions. A Gold Report Interview    Thursday , 03 Nov 2011

Zimbabwe diamond sales a necessary compromise - US

The United States says its decision to abstain from Tuesday's vote allowing Zimbabwe to export diamonds from its controversial Marange fields was in fact a compromise, and hopes Mugabe's government will live up to its commitments under the Kimberley Process.    Thursday , 03 Nov 2011

Chalice Gold inks mining agreement with Eritrean government

Eritrea took another step towards making the country's second major mine a reality, Chalice Gold's 60-percent-owned Koka gold mine on its Zara project.    Wednesday , 02 Nov 2011

Peru tries to broker a truce between Newmont, locals as protests turn violent

State efforts to broker a formal dialogue between US miner Newmont Mining and locals opposing the company's $4.8 billion Minas Conga project continued on Wednesday, with the government calling for calm as protests turned violent.    Thursday , 03 Nov 2011

No easy substitutes when it comes to rare earths

While newspaper headlines may tell you otherwise, Jeb Handwerger says supply shortages remain the issue of the day for rare earth-intensive industries.    Wednesday , 02 Nov 2011

Endeavour posts Q3 profit, expects further gains in Q4

The Vancouver-based silver miner posted a $3.1 million profit in the July to September quarter and expects further gains in the next quarter from high silver and gold prices ramp-up in production at its Guanajuato plant.    Thursday , 03 Nov 2011

ArcelorMittal SA reports Q3 losses, sees improved Q4 results

The company says its third-quarter loss was due to higher costs and lower steel prices, but expects earnings to improve in the next three months on the back of the weaker exchange rate and higher production volumes.    Thursday , 03 Nov 2011

Norilsk Nickel completes $4.5 bn share buyback

The Russian metals company said Wednesday it had successfully completed its offer to buy 14.7 million of its shares representing a stake of 7.7% for $4.5 billion.    Thursday , 03 Nov 2011

UBS cuts Dec quarter iron ore pricing forecasts for Rio, BHP

Global financial services firm UBS has cut its realised price forecast for iron ore sold by miners BHP Billiton and Rio Tinto for the December quarter, citing an industry shift by some consumers in the market seeking shorter term pricing.    Thursday , 03 Nov 2011

Xstrata, SA union settle share ownership scheme

Global diversified mining group Xstrata has reached an agreement with the National Union of Mineworkers in South Africa to equally compensate workers under its employee share ownership scheme, ending a dispute that disrupted operations.    Wednesday , 02 Nov 2011

Uranium sector returning to full power - Rob Chang

Versant Partners analyst Rob Chang discusses the changes in market sentiment toward uranium post Fukushima, particularly the long-term growth and price prospects. An Energy Report interview    Wednesday , 02 Nov 2011

India's Aditya Birla considers bid for New Hope - sources

Coal miner New Hope Corp, which put itself up for auction in October, is said to have captured the interest of India's Aditya Birla Group, with the latest reports suggesting the group will soon appoint an adviser to start the bidding process.    Wednesday , 02 Nov 2011

Metalloinvest Q3 iron ore production dips

The Russian iron ore producer saw a 2.5% drop in its third quarter production, achieving 10 million tonnes due to a drop in sintering ore output.    Wednesday , 02 Nov 2011

Credit Suisse Q3 commodity trade revenue slumps

The Swiss bank reported a slump in commodities trading revenues in the third quarter, failing to repeat its success of the previous quarter, joining its U.S. and European peers that have already reported weaker contributions.    Wednesday , 02 Nov 2011

Bolivia awards zinc smelters contract to Chinese JV

The Bolivian government has awarded the Henan Yuguang International Economic & Technical Cooperation consortium the contract to build two zinc smelters in the highland regions of Oruro and Potosi, at an estimated cost of $500 million.    Wednesday , 02 Nov 2011

Yesterday's Top Story: 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.    Wednesday , 02 Nov 2011

PODCASTS / RADIO                                                     

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

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

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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
San Francisco Hard Assets Investment Conference
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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