Thursday, March 22, 2012

MINEWEB.COM'S TOP STORIES: Fed's Bernanke: Gold standard systems didn't work before, won't work now

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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                                                     

Gold smuggling in India, the dollar carry trade and Central Bank buying

Julian Phillips looks at some of the major talking points in the gold market currently and why the long term outlook for the metal remains buoyant
 

TOP STORIES | Thursday , 22 Mar 2012                                                     

Fed's Bernanke: Gold standard systems didn't work before, won't work now

Fed Chairman, Ben Bernanke, contends gold standards are "far from perfect monetary systems" that can generate "an awful big waste of resources."    Thursday , 22 Mar 2012

Québec plans to pluck and invest in the golden goose of mining

While soaring mining taxation will pluck a few more feathers off the mining golden goose, the Québec government plans to shoulder some risk in exchange for higher fiscal rewards.    Thursday , 22 Mar 2012

Gold from Thailand, China flood Indian markets

India's duty hike has made domestic gold jewellery more expensive than imported jewellery, with retailers stocking up on cheap imports from Thailand and China to quell demand.    Thursday , 22 Mar 2012

SA government, mines launch blueprint to fight TB

The world's second deadliest infectious disease is a major problem in South Africa and, in particular its miners and plans are now afoot to end the scourge    Wednesday , 21 Mar 2012

India loses $210bn in coal sales in "mother of all scams"

In what opposition parties call the "mother of all scams", a government auditor's draft report says India lost up to $210 billion in revenue by selling coal deposits too cheaply.    Thursday , 22 Mar 2012

Franco-Nevada posts higher Q4 loss on impairment charges

The miner's loss rose to C$105.4 million, hurt by impairment charges at its Ezulwini mine in South Africa and Podolsky mine in Canada.    Thursday , 22 Mar 2012

Gold Fields buys 40% stake in Philippine gold/copper project

The world's fourth-largest bullion producer acquired the stake after making a $110 million down payment this week and retained the option to acquire an additional 20% in the Far Southeast Project.    Thursday , 22 Mar 2012

From basketball stars to collectable coins and the gold scams inbetween

David Levenstein looks at some of the more common gold scams in the market at the moment and how best to avoid being duped.    Wednesday , 21 Mar 2012

Ecuador's indigenous anti-mining protests target future plans

Thousands of Ecuador's indigenous people marched towards the capital Quito on Wednesday, underlining the threat such protests could have on the country's future plans to develop large-scale mining with foreign companies.    Thursday , 22 Mar 2012

Gold sluggish on lower Chinese manufacturing data

Prices were little changed on Thursday as investors weighed a recent improvement in the U.S. economy against China which is seeing a slower growth.    Thursday , 22 Mar 2012

Indian shares sink on Australian mining tax worries

Analysts are concerned Australia's long-awaited mining tax may pose a hurdle to Indian companies, investing in the country's coal mines.    Wednesday , 21 Mar 2012

Chinese demand to boost iron ore exports -Australia

Shrugging off signs that steel demand from the Asian giant might be slowing, Australia predicts that it will produce record tonnages of iron ore through much of the decade    Wednesday , 21 Mar 2012

India's Reserve bank imposes limits on gold collateral loans

The RBI has said that all non-banking finance companies that lend against gold jewellery should keep loan to value ratios below 60%    Wednesday , 21 Mar 2012

MMK is in talks to obtain a $600m credit facility

Russia's third largest steelmaker said the credit facility will keep the firm within its agreed debt limits but needs the funds to cover the cost of the $591m acquisition of Flinders Mines announced last year.    Wednesday , 21 Mar 2012

DRC to increase tax rates, up minimum automatic mine stake

According to the country's mines minister, the existing mining code, which is 10 years old, was not giving the government enough revenues from the mining sector.    Wednesday , 21 Mar 2012

Massive silver spike imminent - Fractal analysis

Hubert Moolman maintains that both gold and silver are rather close to entering the mania phase of the bull market but, in order to get there value needs to be diverted from somewhere - most likely equities    Wednesday , 21 Mar 2012

Yesterday's Top Story: The threat of Africa's largest ever class action looms over SA mining

The implications of a silicosis class action suit for the South African mining sector are "damn serious" but, no one yet knows how it will all play out    Tuesday , 20 Mar 2012

PODCASTS / RADIO                                                     

The reasons behind platinum's strong performance in 2012

Johnson Matthey's Publications manager looks at the reasons for the metal's strong run and its relationship to gold

David Garofalo on M&A in the Canadian mining sector

The President and CEO of Hudbay Minerals comments on the Canadian mining sector M&A scene, leveraged buyouts and asset spin-offs.

Ecuador starting a new mining era - Santiago Yepez

President of the Ecuadorian CoM talks about the signing of the first mining exploitation contract with Chinese-backed EcuaCorriente and efforts by government to improve the tax regimen for foreign miners.

Gold and silver provide an anchor of value - Michael Cuggino

Fund portfolio manager Michael Cuggino sees commodities continuing to trend upwards with demand growing faster than supply, with gold, and to a lesser extent silver, providing an alternative to paper currencies.

 

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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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