MINEWEB.COM'S TOP STORIES: Vale extols "superb performance" of production, revenues in 2Q11

FEATURED PODCAST                                                      Europe, the US debt ceiling and the fundamentals of gold demand - HSBC HSBC precious metals analyst, James Steel looks at the likelihood of increased volatility in the gold market and the continued growth in emerging market demand in the wake of the macro economic turmoil   TOP STORIES | Friday , 29 Jul 2011                                                      Vale extols "superb performance" of production, revenues in 2Q11 Vale reported revenues and cash generation reached all-time high levels in the second quarter, which better equips the company to meet demand and return cash to shareholders.    Friday , 29 Jul 2011 Higher capex costs for Barrick Gold's project pipeline a challenge While Barrick reported a 35% increase in net profit, weather-related delay, higher-priced consumables and labor, and design changes at major projects are swelling the capex budget.    Friday , 29 Jul 2011 Strong copper and coal prices boost Teck's Q2 net income Diversified Canadian miner, Teck, nearly doubled Q2 EPS helped by strong copper and coal prices but warned full year coal sales will be at low end of its forecast range.    Friday , 29 Jul 2011 Potash Corp exceeds expectations with 75% jump in Q2 earnings Canada's Potash Corp comfortably exceeded analysts' expectations with a strong increase in Q2 earnings as high grain prices lifted fertilizer demand    Friday , 29 Jul 2011 Silver Wheaton cuts 2011 attributable silver production forecast Due largely to a slower than anticipated ramp-up at Goldcorp's Penasquito mine in Mexico, Silver Wheaton has had to cut its full year attributable silver production outlook    Friday , 29 Jul 2011 Centerra Gold Q2 profit more than doubles An increase in the average gold price received to over $1500 an ounce helped Centerra Gold net income to more than double in Q2 compared with a year ago.    Friday , 29 Jul 2011 Novagold, Teck release $5.2Bn Galore Creek prefeasibility study, eye 2018 production Novagold and Teck take a fresh look at the Galore Creek project in a prefeasibility study - one which NovaGold's Van Nieuwenhuyse says supports developing the project.    Friday , 29 Jul 2011 Should one still buy gold at, or near, its record high? No-one wants to buy at the top, but has gold reached that level yet given that the U.S. is effectively insolvent and Europe too.    Thursday , 28 Jul 2011 India May gold sales up massive 161% yoy - gold rush continuing The onset of the festive season in the world's biggest bullion marketplace from August is set to ensure a rally in gold prices, even as UBS records 161% jump in sales to India in the month of May, as compared to the same month last year.    Thursday , 28 Jul 2011 B2Gold boosts 2011 gold production despite Limon mine closure Though an unfortunate mine accident which resulted in the death of a worker in June scrambled mine plans at B2Gold's Limon mine in Nicaragua, gold production in the second quarter remained on track.    Thursday , 28 Jul 2011 Ivory Coast gold output to almost double in 2 years - Minister Gold production capacity in Ivory Coast to hit 13 tonnes by 2013 up from 7 tonnes currently and reach, 20 tonnes by 2020    Thursday , 28 Jul 2011 New Zealand's premier gold miner hits a purple patch New Zealand's leading gold miner has shown up many of its Australian counterparts in terms of really making hay with the sun shining on the gold price.    Thursday , 28 Jul 2011 South African police squad raids Minerals Dept in corruption investigation The South African Police Service has raided offices of Imperial Crown Trading and of the Department of Mineral resources over the alleged corrupt issuance of rights to part of the huge Sishen iron ore deposit.    Thursday , 28 Jul 2011 Kazakhmys H1 copper production falls but still on target As forecast earlier, London listed Kazakh copper miner Kazakhmys saw a fall in H1 copper output but better grades should see iut meet its 300,000 tonne full year target    Thursday , 28 Jul 2011 Coal India seeking to acquire stake in Indonesia's Golden Energy for around $1bn Coal India, which is keen to acquire coal mines abroad, has finished its initial negotiations with Indonesia's Golden Energy Mines and is awaiting the Indian government's nod for a $1 billion buy.    Thursday , 28 Jul 2011 Xstrata bidding for Canadian coal explorer Major miner Xstrata is making an agreed $153 million bid for Canada's First Coal Corporation which owns coking coal exploration leases in British Columbia    Thursday , 28 Jul 2011 South Africa's gold miners start strike today as 'strike season' hits other sectors too South African gold miners are commencing a 48-hour strike over wages today, but coal, platinum and diamond sectors may also be heading in same direction    Thursday , 28 Jul 2011 Cliffs Q2 profits up 56%, but well below expectations Sharply rising costs dented Cliffs Natural Resources profits picture and share price fell as a result    Thursday , 28 Jul 2011 Steel Authority of India scraps $1.2bn deal with Japan's Kobe Steel SAIL's plans to rebuild a steel mill with Japan's Kobe Steel has been stymied with the Indian government restricting natural gas supplies, though SAIL has decided to proceed on its own to build an associated power plant.    Thursday , 28 Jul 2011 Yesterday's top story: Average U.S. house price = one 100 ounce gold bar - nearing low? Inflationary or deflationary depression, it's like the long boom of affordable mortgages never happened as U.S. house prices near historical low point in relation to gold.    Wednesday , 27 Jul 2011 PODCASTS / RADIO                                                      Anglo Platinum Results - Neville Nicolau – CEO, Anglo Platinum A better second half in prospect. But what if the threatened strike goes ahead? Copper price volatility expected - Monica Bonar, Fitch With the impact of the macro-economic concerns on the one hand and supply disruptions on the other copper markets are likely to continue to be choppy Gold price floor to remain above $1,000 for at least the next decade - Jeff Christian A look at the likely trajectory of the gold price given the current macro-economic situation and a the similarities between this recent move and silver's charge at $50 in April	Mineweb is the world's top mining and mining investment news website and is read in over 200 countries daily by mining company executives, financiers and investors.  According to independently published global website analysis, Mineweb is ranked far higher in terms of daily readership than any other directly competitive website. Mineweb is updated around the clock, so to keep abreast of news throughout the day we suggest you do check our homepage for updates - www.mineweb.com Follow mining news updates on Twitter http://twitter.com/Mineweb Mineweb's iPad app is now available! Go to www..mineweb.com/apps or to the Apple app store to download it.   CONFERENCES Diggers and Dealers 2011 Forum Date: 01 August 2011 - 03 August 2011 Venue: Kalgoorlie, WA This important Australian annual mining conference combines presentations by listed mining and exploration companies with a large exhibition area housing exhibitors from the mining, exploration and service sectors. Read More Denver Gold Forum 2011 Date: 18 September 2011 - 21 September 2011 Venue: Broadmoor Hotel & Resort, Colorado Springs, USA Major event hosted by the Denver Gold Group, The Denver Gold Forum will showcase institutional-quality precious metals companies to global fund and portfolio managers, institutional investors and analysts. Mineweb's Dorothy Kosich will attend Read More FEATURED COMPANY View more featured mining companies ENGINE ROOM Editorial Europe Lawrie Williams, London Geoff Candy, Groningen Rhona O'Connell, London 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 Editor in Chief Alec Hogg, Mooi River, SA
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MINEWEB.COM'S TOP STORIES: Fire, weather and processing issues lower Goldcorp 2011 gold output guidance

FEATURED PODCAST                                                      Europe, the US debt ceiling and the fundamentals of gold demand - HSBC HSBC precious metals analyst, James Steel looks at the likelihood of increased volatility in the gold market and the continued growth in emerging market demand in the wake of the macro economic turmoil   TOP STORIES | Thursday , 28 Jul 2011                                                      Fire, weather and processing issues lower Goldcorp 2011 gold output guidance Although Goldcorp marginally increased its overall gold production in the first half of the year, Mother Nature and lower processing rates have taken their toll on the company's 2011 guidance.    Thursday , 28 Jul 2011 As strike escalates giant Escondida copper mine declares force majeure Escondida has declared force majeure on copper concentrate sales as appears to be no end in sight to conflict as BHP, strikers dig in. Workers have threatened to take over mine over strikebreakers.    Thursday , 28 Jul 2011 Newmont, Buenaventura gold mine to be Peru's biggest ever mining investment Following positive governmental appointments by President Humala, Newmont and Buenaventura say will go ahead with the Conga gold mine which could cost up to $4.8 billion to develop.    Thursday , 28 Jul 2011 Agnico-Eagle buys into Rubicon's Phoenix Gold Project The Meadowbank fire took its toll on Agnico-Eagle gold production during the second quarter, although the company's first half gold production was higher than last year's output.    Thursday , 28 Jul 2011 Bugaboo '71. When Nixon cut the gold link what didn't change? The monetary system that dates back to August 1971 when Nixon closed the gold window shares one vital trait with its predecessor. The dollar remained as the world's reserve currency.    Thursday , 28 Jul 2011 Long and winding road to an Idaho cobalt mine Formation Metals' CEO Mari-Ann Green describes what it is like to be in the throes of construction and completion of financing on the Idaho Cobalt Project.    Thursday , 28 Jul 2011 Colombia raises doubts on AngloGold's La Colosa gold project Doubts have been raised in Colombia about possible adverse environmental issues in relation to AngloGold Ashanti's big La Colosa gold project    Thursday , 28 Jul 2011 Golden Predator pounces on new gold zone at Brewery Creek, share price climbs Golden Predator's share price shone after it reported a gold discovery at its Brewery Creek project in the Yukon, adding to a series of other hot drillholes the junior has reported this year.    Wednesday , 27 Jul 2011 Average U.S. house price = one 100 ounce gold bar - nearing low? Inflationary or deflationary depression, it's like the long boom of affordable mortgages never happened as U.S. house prices near historical low point in relation to gold.    Wednesday , 27 Jul 2011 No end in sight for downturn as H1 profits dive 63% for Arcelor Mittal South Africa In reporting a dramatic fall YOY for H1 profits arcelor Mittal South Africa says things may get even worse in Q3 as increasing input costs and weak demand show no sign of ending.    Wednesday , 27 Jul 2011 Namibia Chamber says new mining tax plans will curb investment Namibia's Chamber of Mines warned that planned increases in mining taxes would discourage investment and urged government to reconsider.    Wednesday , 27 Jul 2011 Rio Tinto's Australian Coal and Allied arm profits up, but well below forecasts Rio's big Australian coal miner reported a big jump in profits, but disappointed analysts who had predicted even better.    Wednesday , 27 Jul 2011 Gold still strong despite belief in U.S. Fed Plan B Daily review of what has happened in the Asian and European gold and silver markets sees little change in silver and gold trading higher in Asia and Europe.    Wednesday , 27 Jul 2011 Inflows into precious metals ETFs roaring back While analysis of ETF inflows suggests that in the first half of 2011 currency ETFs generated more than commodities ones, precious metals ETFs have 'roared back' in the past month.    Wednesday , 27 Jul 2011 Avocet buying back its gold hedge book UK-based West African gold miner, Avocet Mining says it has bought back 20% of its gold hedgebook to take advantage of anticipated higher gold prices.    Wednesday , 27 Jul 2011 Fed gives away $16 trillion: Gold may be more undervalued than we think With the U.S. Fed's $16 trillion bailing out of banks, corporations and governments and at 7.87 gold ounces to buy the Dow, gold and gold stocks are looking increasingly undervalued.    Wednesday , 27 Jul 2011 PODCASTS / RADIO                                                      Anglo Platinum Results - Neville Nicolau – CEO, Anglo Platinum A better second half in prospect. But what if the threatened strike goes ahead? Copper price volatility expected - Monica Bonar, Fitch With the impact of the macro-economic concerns on the one hand and supply disruptions on the other copper markets are likely to continue to be choppy Gold price floor to remain above $1,000 for at least the next decade - Jeff Christian A look at the likely trajectory of the gold price given the current macro-economic situation and a the similarities between this recent move and silver's charge at $50 in April	Mineweb is the world's top mining and mining investment news website and is read in over 200 countries daily by mining company executives, financiers and investors.  According to independently published global website analysis, Mineweb is ranked far higher in terms of daily readership than any other directly competitive website. Mineweb is updated around the clock, so to keep abreast of news throughout the day we suggest you do check our homepage for updates - www.mineweb.com Follow mining news updates on Twitter http://twitter.com/Mineweb Mineweb's iPad app is now available! Go to www..mineweb.com/apps or to the Apple app store to download it.   CONFERENCES Diggers and Dealers 2011 Forum Date: 01 August 2011 - 03 August 2011 Venue: Kalgoorlie, WA This important Australian annual mining conference combines presentations by listed mining and exploration companies with a large exhibition area housing exhibitors from the mining, exploration and service sectors. Read More Denver Gold Forum 2011 Date: 18 September 2011 - 21 September 2011 Venue: Broadmoor Hotel & Resort, Colorado Springs, USA Major event hosted by the Denver Gold Group, The Denver Gold Forum will showcase institutional-quality precious metals companies to global fund and portfolio managers, institutional investors and analysts. Mineweb's Dorothy Kosich will attend Read More FEATURED COMPANY View more featured mining companies ENGINE ROOM Editorial Europe Lawrie Williams, London Geoff Candy, Groningen Rhona O'Connell, London 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 Editor in Chief Alec Hogg, Mooi River, SA
Manage your subscription | Subscriber help    If you can't access the Mineweb site from this email, please email us with the words "Problem email" in the    subject line, and we will address the problem.    You have voluntarily joined this mailing list. To unsubscribe, please click here    © Mineweb 2010 | Terms and Conditions of use | About Mineweb | Contact Mineweb | Advertise

Fed gives away $16 trillion: Gold may be more undervalued than we think

FEATURED PODCAST                                                      Europe, the US debt ceiling and the fundamentals of gold demand - HSBC HSBC precious metals analyst, James Steel looks at the likelihood of increased volatility in the gold market and the continued growth in emerging market demand in the wake of the macro economic turmoil   TOP STORIES | Wednesday , 27 Jul 2011                                                      Fed gives away $16 trillion: Gold may be more undervalued than we think With the U.S. Fed's $16 trillion bailing out of banks, corporations and governments and at 7.87 gold ounces to buy the Dow, gold and gold stocks are looking increasingly undervalued.    Wednesday , 27 Jul 2011 BHP hard line on top copper mine strike - stoppage could be prolonged The strike at the world's largest copper mine, Escondida in Chile, is boosting global copper prices as owner BHP refuses mediation.    Tuesday , 26 Jul 2011 How a dollar default would change gold/silver market A technical default by the U.S., which is drawing ever closer, will have serious consequences for the global economy with gold and silver becoming the preferred reserve assets.    Wednesday , 27 Jul 2011 Higher gold and silver output sees Buenaventura net income up 83% in 2Q11 Increased precious metals production, combined with higher metals prices, substantially boosted income for Peru's Compañia de Minas Buenaventura.    Wednesday , 27 Jul 2011 Chalco signs coal purchase deal with Mongolia's Erdenes Tavan Tolgoi A deal whereby China's Chalco will buy $250 million worth of coal from the Eastern Tavan Tolgoi deposit from Mongolia's state-owned Erdenes Tavan Tolgoi has been signed.    Wednesday , 27 Jul 2011 Nyrstar's C$619 million bid for zinc miner Breakwater extended Belgium's Nyrstar says it achieved record first half zinc metal production and remains confident in the medium to long-term outlook for the metal.    Wednesday , 27 Jul 2011 Lydian's Armenian gold mine outline 'robust' - analyst Lydian International released its first scoping study for a new gold mine in Armenia, drawing a positive review from one analyst covering the junior.    Tuesday , 26 Jul 2011 Indians finding gold-backed loans more and more attractive Catering to individuals who possess gold jewellery but cannot access formal credit within a reasonable time-frame, gold loans are helping meet short-term liquidity requirements.    Tuesday , 26 Jul 2011 African Barrick/MDN Tulawaka gold mine ups output 49% in H1 Higher grades and increase in ore mined underground helped African Barrick Gold's Tulawaka gold mine in Tanzania achiever a substantial output increase. MDN has a 30% interest in the operation.    Tuesday , 26 Jul 2011 Tsunami avoidance: Gold and silver on the high ground The markets may be expecting a compromise settlement of the U.S. debt ceiling impasse, but should the unthinkable occur, gold and silver holders are positioned to ride out the wave.    Tuesday , 26 Jul 2011 SHFE cuts transaction fees on copper contracts and trading margins on lead The Shanghai Futures Exchange (SHFE) says it is attempting to boost trading volumes by cutting copper and rebar transaction fees and trading margins on lead futures.    Tuesday , 26 Jul 2011 African Barrick Gold posts 54% jump in Q2 income Despite setbacks that included an armed attack on one of its mines, African Barrick gold said net income rose to $69.8 million in the three-month period, as revenue climbed 39 percent, helped by higher gold prices.    Tuesday , 26 Jul 2011 Ramu nickel mine injunction lifted by PNG court According to Highlands Pacific, which owns a minority stake in the Ramu nickel and cobalt project in Papua New Guinea, a court in the country has cleared the way for start-up at the project.    Tuesday , 26 Jul 2011 Fy 2011 underlying net profit of A$70m expected - Whitehaven Coal According to the Australian coal miner, FY 2011 underlying net profits, before significant items are likely to come in at A$70m, boosted by a strong output performance in the June quarter    Tuesday , 26 Jul 2011 Big lift in reserves for Australia's Tropicana gold project There was no surprise when the AngloGold Ashanti, Independence Group partnership announced a significant increase in reserves at the big, remote Tropicana gold project in the far eastern goldfields of Western Australia.    Tuesday , 26 Jul 2011 Conservative on gold price and "Balkanization" of Quebec mining - Lemieux Laurentian Securities Analyst Éric Lemieux shares his latest insights on the gold market, and his views on changes in Quebec mining legislation. Gold Report interview.    Tuesday , 26 Jul 2011 When push comes to shove gold is real money Gold is not in reality in a bull market, but currencies in a bear market, as gold's monetary attributes reassert themselves in the global monetary system.    Tuesday , 26 Jul 2011 SA gold miners set to strike South Africa's National Union of Mineworkers said Monday that talks between workers and the country's main gold diggers had broken down    Tuesday , 26 Jul 2011 Better than expected Q2 for Norsk Hydro Higher volumes and realised prices for aluminium and alumina helped Norsk Hydro produce stronger-than-expected earnings in Q2 and the group remains positive about the prospects for aluminium demand    Tuesday , 26 Jul 2011 Another Indian coal handling project award for FL Smidth FLSmidth is consolidating its position as a key supplier of coal handling equipment to India with the award of the first phase of a new installation.    Tuesday , 26 Jul 2011 Record sales boost De Beers H1 core earnings 55% The Diamond producer said strong demand from India, China and the US helped boost prices 35% which helped push core earnings up 55%    Tuesday , 26 Jul 2011 Zijin Mining to spend $30 extending stake in Norton Gold The Chinese miner said it would buy a further 138.35m shares in the Australian gold producer boosting its stake in Norton to just under 17%    Tuesday , 26 Jul 2011 yesterday's top story - Gold: Plenty of room to move higher - and higher While a settlement of the U.S. debt impasse may see a sharp correction in the gold price this will only be brief with $1700 gold easily in sight this year and rock solid fundamentals suggest much higher prices in the future.    Tuesday , 26 Jul 2011 PODCASTS / RADIO                                                      Anglo Platinum Results - Neville Nicolau – CEO, Anglo Platinum A better second half in prospect. But what if the threatened strike goes ahead? Copper price volatility expected - Monica Bonar, Fitch With the impact of the macro-economic concerns on the one hand and supply disruptions on the other copper markets are likely to continue to be choppy Gold price floor to remain above $1,000 for at least the next decade - Jeff Christian A look at the likely trajectory of the gold price given the current macro-economic situation and a the similarities between this recent move and silver's charge at $50 in April	Mineweb is the world's top mining and mining investment news website and is read in over 200 countries daily by mining company executives, financiers and investors.  According to independently published global website analysis, Mineweb is ranked far higher in terms of daily readership than any other directly competitive website. Mineweb is updated around the clock, so to keep abreast of news throughout the day we suggest you do check our homepage for updates - www.mineweb.com Follow mining news updates on Twitter http://twitter.com/Mineweb Mineweb's iPad app is now available! Go to www..mineweb.com/apps or to the Apple app store to download it.   CONFERENCES Diggers and Dealers 2011 Forum Date: 01 August 2011 - 03 August 2011 Venue: Kalgoorlie, WA This important Australian annual mining conference combines presentations by listed mining and exploration companies with a large exhibition area housing exhibitors from the mining, exploration and service sectors. Read More Denver Gold Forum 2011 Date: 18 September 2011 - 21 September 2011 Venue: Broadmoor Hotel & Resort, Colorado Springs, USA Major event hosted by the Denver Gold Group, The Denver Gold Forum will showcase institutional-quality precious metals companies to global fund and portfolio managers, institutional investors and analysts. Mineweb's Dorothy Kosich will attend Read More FEATURED COMPANY View more featured mining companies ENGINE ROOM Editorial Europe Lawrie Williams, London Geoff Candy, Groningen Rhona O'Connell, London 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 Editor in Chief Alec Hogg, Mooi River, SA
Manage your subscription | Subscriber help    If you can't access the Mineweb site from this email, please email us with the words "Problem email" in the    subject line, and we will address the problem.    You have voluntarily joined this mailing list. To unsubscribe, please click here    © Mineweb 2010 | Terms and Conditions of use | About Mineweb | Contact Mineweb | Advertise