Tuesday, June 26, 2012

MINEWEB.COM'S TOP STORIES: Congress pushes SEC to finalize conflict minerals, govt. payment regulations

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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                                                     

Mine closures, platinum's price floor and slowing demand - Jollie

Mitsui and Co Precious Metal's David Jollie looks at the current state of the platinum sector and where it is likely heading.
 

TOP STORIES | Tuesday , 26 Jun 2012                                                     

Congress pushes SEC to finalize conflict minerals, govt. payment regulations

U.S. House members are urging the SEC to issues final rules for mining companies for reporting payments made to foreign governments, as well as conflict minerals disclosures.    Tuesday , 26 Jun 2012

Fire River shares reach new lows as management, directors resign

The face of Fire River Gold changes considerably as two top managers, including its president, and two directors resign.    Tuesday , 26 Jun 2012

Coeur Mines to write down Argentina's Martha Mine in 2Q

Standard & Poor's has assigned a BB- rating to Coeur d'Alene Mines proposal to issue $350 million of unsecured notes and enter into a $100 million revolving credit facility.    Tuesday , 26 Jun 2012

Asian demand for diamonds set to boom

While in the short term, demand for diamonds globally is struggling, analysts say demand from China and India is set to far outpace the annual 2.8% supply growth.    Monday , 25 Jun 2012

SA doesn't just need dirt diggers

According to Dr. Paul Jourdan, South Africa would do better leaving its minerals in the ground if it can't better link its mining sector to the broader economy.    Monday , 25 Jun 2012

Juniors pounded as Venture gains in May erased

Junior mining stocks were off heavily on Monday with the Venture sinking to lows not seen in years.    Monday , 25 Jun 2012

South Africa's ANC to debate 50% mining tax

ANC delegates will this week debate proposals for a mining windfall tax of 50% as an alternative to nationalising mines in the world's largest producer of platinum, chrome and manganese.    Tuesday , 26 Jun 2012

Does deflation's black hole loom?

According to Julian Phillips, if the euro is not saved within the next three months, the world faces the next phase of deflation, something feared terribly by central bankers.    Tuesday , 26 Jun 2012

Mitsubishi hopes its disputed Anglo copper asset will generate $500m a year

Declining to comment on a legal dispute over stake sale in Anglo American's Sur asset, CEO of Mitsubishi's metals unit says the purchase was worth it and will generate as much as $500 million a year.    Tuesday , 26 Jun 2012

Argentina eases strict rules on export proceeds

In a resolution published in the official gazette, the government extended the deadline for more than 100 companies, including some hard-hit miners, to cash in export earnings on the local forex market.    Tuesday , 26 Jun 2012

Sumatra Copper & Gold to sell 20% Indonesia stake

The Australian company will sell the stake to meet Indonesian foreign ownership requirements introduced this year, a senior executive said on Tuesday.    Tuesday , 26 Jun 2012

Morgan Stanley seeks 1.9% share in Fortescue

Dealers with knowledge of the matter say Morgan Stanley is bidding for 60 million shares in the miner on an all-or-nothing basis for an unnamed client rumoured to be Twiggy Forrest.    Tuesday , 26 Jun 2012

IMF urges DRC to improve mining revenue collection

The International Monetary Fund says the mineral-rich country needs to continue cleaning up its extractive sector if it is to receive the latest instalments of a $550 million loan.    Tuesday , 26 Jun 2012

Vale sells Colombia coal mines to Goldman Sachs-led group

Vale has sold its Colombia coal mines for $407 million in cash to a unit of Colombian Natural Resources, a mining company controlled by U.S. investment bank Goldman Sachs.    Tuesday , 26 Jun 2012

Alexco silver mine output disrupted by wildfire

A lightning strike triggered a wildfire near the Bellekeno mill on Friday, forcing Alexco to shut down the mine, mill and surface exploration operations as a precautionary measure.    Monday , 25 Jun 2012

CITIC Heavy eyes $503m in China's biggest IPO

The company will sell 685 million shares at 4.67 yuan apiece, pricing the IPO at 16.2 times historical earnings, according to an exchange filing.    Monday , 25 Jun 2012

Serbia to idle loss-making Smederevo steel mill

The government plans to halt production at the Smederevo steel plant next month despite having bought it back from U.S. Steel for a nominal $1 to avert closure last December.    Monday , 25 Jun 2012

Yesterday's top story: Guatemala introduces sweeping mining law reforms

Guatemala's Union of Extractive Industries says it will not support sweeping reforms to the nation's Mining Act, which include permanent royalty increases and the creation of a state mining company.    Monday , 25 Jun 2012

PODCASTS / RADIO                                                     

M&A activity, the fear trade and the vital importance of management - US Global

Frank Holmes and Brian Hicks talk about the performance of gold stocks relative to bullion and why management ownership improves stock performance.

The case for US equities over gold - Puru Saxena

For the first time in 10 years, Puru Saxena is bullish on US equities and has no exposure to gold and silver, he tells Mineweb why.

Copper risks still biased to the down side - Standard Chartered

Standard Chartered's Judy Zhu expects copper to trade in a relatively tight range in the short term with a hope of some rebound going into Q4.

Recent moves signal change in market perception to gold - Nichols

"All these things have been pushing gold up and down, and up and down but I think ultimately the markets are becoming more pro-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, Johannesburg

 

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