Friday, February 3, 2012

MINEWEB.COM'S TOP STORIES: 2012 drilling demand: No let up in sight from juniors, seniors

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These selected stories represent only a fraction of the news and analysis featured and updated all day on Mineweb.com - check out our home page for the rest of the news and expert analysis now available at www.mineweb.com

 

FEATURED PODCAST                                                     

Diamond sector to consolidate in 2012- Kieron Hodgson

According to Charles Stanley Securities analyst, Kieron Hodgson, while the diamond market still has solid fundamentals, 2012 looks likely to be a year of consolidation
 

TOP STORIES | Friday , 03 Feb 2012                                                     

2012 drilling demand: No let up in sight from juniors, seniors

A couple international drilling companies give their outlook on the 2012 drill season to Mineweb, suggesting demand is high from seniors and holding steady for juniors.    Friday , 03 Feb 2012

New Gold reports record 2011 gold production, offers 2012 guidance

Vancouver-based New Gold has issued a 2012 gold guidance of 405,000 to 445,000 ounces. And, it says, it will produce in the range of 1.9 million to 2.1 million ounces of silver.    Friday , 03 Feb 2012

Glencore's Xstrata offer more a relief than a surprise

Most market commentators polled by Mineweb on Thursday seemed largely unsurprised by the announcement of a possible merger between the two firms but, there may be some fun and games yet.    Thursday , 02 Feb 2012

Canadian mining entering period of significant, sustained growth--MAC

The Canadian Mining Association says the sector will need to hire more than 100,000 people within the next decade.    Friday , 03 Feb 2012

Great Basin's Burnstone gold mine removing obstacles to productivity growth

Ramping up its new Burnstone gold mine to full production has defined some problems which have led to lower output than planned, but Great Basin Gold's CEO and management reckon these are being overcome.    Thursday , 02 Feb 2012

NovaGold widens pot, to raise up to $382 million

NovaGold goes for $333 million dollars by issuing what amounts to about a seventh the number of its current outstanding shares.    Thursday , 02 Feb 2012

Fiery CEO personalities may clash in Glencore/Xstrata talks

According to analysts, one of the key sticking points in a merger of equals will be who gets to run the enlarged firm with both firm's highly competitive CEOs likely to be up to the challenge.    Friday , 03 Feb 2012

NMDC hastens investment of $943 million

Cash rich Indian government company NMDC with $3.6b reserves, has clocked a 22% rise in its quarterly net profit mostly on the back of higher sales and is to diversify into five new areas of business.    Friday , 03 Feb 2012

Implats Strike Escalates

Impala Platinum's share price took a pounding in trade on Thursday as industrial action took a turn for the worse at its Rustenburg operations.    Thursday , 02 Feb 2012

Gold and silver good undervalued assets: James Turk

James Turk reckons that the 2012 bottom for gold came during the first week in January and that the yellow metal will hit $2,000 within 3 months. Gold report interview.    Thursday , 02 Feb 2012

Panorama proposes takeover of Canadian PGM explorer Magma

The successful W. Australian nickel miner is offering almost a 87% premium for Perth-based PGM explorer Magma in an all-share offer.    Friday , 03 Feb 2012

Kazakhstan's 2011 uranium output up 9%

Kazakhstan maintained its position as the world's largest producer of uranium in 2011 as it ramped up output by about 9% to 19,450 tonnes.    Friday , 03 Feb 2012

Zijin Mining forecast 2011 profit rose 20%

In a filing to the Hong Kong bourse, the miner reported Friday an estimated 5.8 billion yuan profit for 2011, up 20% from 2010.    Friday , 03 Feb 2012

CME Group launches clearing service for London gold forwards

The company's European clearing house has launched clearing services for the first physically settled product for over the counter London gold forwards.    Friday , 03 Feb 2012

Anglo American CEO recovering after horse-riding accident

She has been advised by her doctor not to travel internationally for about two months.    Thursday , 02 Feb 2012

Amplats to invest R2.6bn in Bokoni Platinum Mine

This capital development programme means the mine can now target 245,000 ounces by 2016, an increase of 100,000 ounces.    Thursday , 02 Feb 2012

Metalloinvest predicts 20-30% fall in 2012 sales

The Russian miner has forecast a 20 to 30% fall in sales this year due to depressed iron ore prices, adding that it has no immediate plans to revisit IPO ambitions.    Thursday , 02 Feb 2012

Gold capitalises on low interest rate environment

While the gold price slipped 0.5% from a new 8-week high Thursday morning, it seems the US Federal Reserve's stance to keep interest rates low for some years has reinstated investor confidence in the metal.    Thursday , 02 Feb 2012

Pan African approves Barberton gold tailings project

The R320 million phase one project is meant to increase the production profile at Barberton from 95,000/oz to 120,000/oz per annum over six years.    Thursday , 02 Feb 2012

Yesterday's Top Story: China's gold output and demand could be far greater than 'official' data suggest

Comment from Jeff Nichols suggests that Chinese gold production and consumption may be considerably higher than the statistics released by the country would indicate.    Thursday , 02 Feb 2012

PODCASTS / RADIO                                                     

Long term gold prices, short term speculators and macroeconomics - James Steel

HSBC's chief commodities strategist, James Steel, looks at the reasons behind last quarter's major fall and January's strong surge in gold prices

Oil, metals, and a mixed world economy - Hale

David Hale looks at how commodities are likely to fare in 2012 given the very mixed global economy and the wild card that is oil.

Gold, China and Quantitative easing to infinity - Embry

Sprott Asset Management's John Embry believes that the prospect of global "Weimar situation" is very real and bullish for gold

 

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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

Africa

Christy Filen, Johannesburg


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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