Thursday, March 1, 2012

MINEWEB.COM'S TOP STORIES: Gold falls around $100 before minor recovery, silver down 7%

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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

 
 

TOP STORIES | Thursday , 01 Mar 2012                                                     

Gold falls around $100 before minor recovery, silver down 7%

Precious metals dived Wednesday - the crash being attributed to a statement by Ben Bernanke which appeared to imply that further Quantitative Easing was unlikely to be needed in the U.S.    Thursday , 01 Mar 2012

Union calls for criminal charges against Vale over nickel mine fatalities

A United Steelworkers investigation says Vale's Stobie nickel mine fatalities could have been avoided and has called on the Ontario Government to bring criminal charges against the company.    Thursday , 01 Mar 2012

Western Australia to levy 2.5% tax on Mt Weld rare earths operation

After complaining that federal resource rent taxes are discouraging investment in Western Australia, state officials will impose a 2.5% royalty on Australia's only rare earths mine.    Thursday , 01 Mar 2012

Rubicon nets $200M to build new gold mine in Ontario

Rubicon crosses key threshold towards building its Phoenix gold project in the Red Lake district through a financing that has pulled in enough cash to cover estimated CAPEX in full.    Wednesday , 29 Feb 2012

A fall in the gold price could boost India's financial system: Reserve Bank

Rather than drastically change or destabilise the Indian financial market, a correction in the price of gold could actually mitigate financial stress, a paper by India's central bank has noted.    Wednesday , 29 Feb 2012

Gold One targets benefits of R500m ($67m) from Rand Uranium turnaround

Gold One's ambition is to generate R500 million (US$67 million) in benefits from its acquisition of Rand Uranium over a two year period.    Wednesday , 29 Feb 2012

Glencore, Volcan sign zinc deal with zero treatment charges

Industry sources say Glencore has agreed to buy zinc concentrates from Peru's Volcan without charging for processing, with the hope to more than recoup the charges by profiting from rising zinc prices.    Thursday , 01 Mar 2012

Paris court dismisses Ex-Areva CEO's demand for UraMin report probe

The court has dismissed a request from former Areva CEO to name an expert to examine the circumstances under which the group had ordered a probe into the controversial takeover of UraMin.    Thursday , 01 Mar 2012

Rio Tinto sees tight coking coal, copper markets in 2012

The miner expects the markets for coking coal and copper to be tight thus year but remains bearish on aluminium, with smelters facing a margin squeeze as costs rise and aluminium prices remain weak.    Thursday , 01 Mar 2012

Brazil's mining output to rise 5% to 8% in 2012/13

The country's mining industry association Ibram says it expects mining output to rise 5% to 8% in 2012/13, pushed by rising production volumes rather than higher metals and mineral prices.    Thursday , 01 Mar 2012

Gold rebounds after 5% plunge on Bernanke

Prices climbed more than 1% early Thursday, recovering from their biggest drop since December 2008 in the previous session when U.S. Federal Reserve Chairman Ben Bernanke failed to signal further monetary easing.    Thursday , 01 Mar 2012

Impala Platinum to restart Rustenburg mine on March 5

The company says it will restart production at its Rustenburg mine, the world's biggest platinum mine, on March 5 and ending the six-week strike-related shutdown.    Thursday , 01 Mar 2012

Rio Tinto's Australia iron ore railway line gets govt. approvals

The approvals clear the way for a rail and power supply project to connect the Hope Downs 4 iron ore mine to the existing Hope Downs 1 mine, before being shipped to coastal export terminals.    Thursday , 01 Mar 2012

Buenaventura gold output flat in 2012, silver to rise

Buenaventura expects to mine almost the same amount of gold in 2012 as it did last year, but expects silver production to rise between 11 and 17%    Wednesday , 29 Feb 2012

Fund manager Sprott buys two Calgary resource investment firms

Toronto-based Sprott has signed a letter of intent to buy investment companies Toscana Capital Corporation and Toscana Energy Corporation for C$14 million in cash and stock.    Wednesday , 29 Feb 2012

Implats will not exit Zimbabwe despite local ownership demands

CEO David Brown said Wednesday he still regards Zimbabwe a good investment destination despite demands by its government that it hands over majority stakes in its Zimplats unit to locals.    Thursday , 01 Mar 2012

Yesterday's Top Story: Is the silver surge sustainable?

The silver price has risen more than 25% so far this year as against gold's 13%, but can such a solid performance continue - or even be exceeded in the months ahead.    Tuesday , 28 Feb 2012

PODCASTS / RADIO                                                     

Finance and exploration in the junior mining sector - Kerry Smith

Kerry Smith of Haywood Securities talks about financing in the junior mining sector and the interface between juniors and bigger companies in JV situations and gives his views on the gold price in 2012.

Peru, politics and the factors leading to mining-related social unrest - Luquman Shaheen

Luquman Shaheen, CEO of Peruvian explorer Panoro Minerals, explains the political and social complexities facing miners and explorers in Peru

Gold and silver to be much higher by end of Q1 - Turk

GoldMoney founder James Turk, believes, while one can't predict what the catalyst is going to be that will force gold and silver higher, the bull market remains intact

Cynthia Carroll on Anglo's future, iron ore pricing and a Glenstrata

Anglo American CEO, Cynthia Carroll, talks to Mineweb about the prospects for iron ore, copper and why she is not concerned about Glenstrata

 

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CONFERENCES

PDAC 2012
Date: 04 March 2012 - 07 March 2012
Venue: Metro Toronto Convention Centre (South), Toronto, Canada
The annual Prospectors & Developers Association of Canada (PDAC) conference and exhibition is the largest mineral exploration event held anywhere in the world. Last year's conference saw attendance from more than 27,000 delegates. Read More
Investing in Asian Mining Indaba
Date: 29 October 2012 - 31 October 2012
Venue: Marina Bay Sands, Singapore
he organisers of the world's largest mining investment event, Investing in African Mining Indaba, will bring its successful business event platform to Asian soil: Investing in Asian Mining Indaba will be held 29-31 October 2012 at the Marina Bay Sands Singapore, www.AsianMiningIndaba.com. The An... Read More
2012 San Francisco Hard Assets Investment Conference
Date: 27 November 2012 - 28 November 2012
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

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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