Thursday, June 28, 2012

MINEWEB.COM'S TOP STORIES: Proposed constitutional amendment gives Guatemala's Govt. 40% stake in mining

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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 , 28 Jun 2012                                                     

Proposed constitutional amendment gives Guatemala's Govt. 40% stake in mining

The administration of Guatemala's new president is seeking both legal and constitutional changes for additional mining taxes, as well as a direct stake in mining and exploration companies.    Thursday , 28 Jun 2012

Midas doubles indicated resources to 4.3 million ounces gold in Idaho

Midas updates resources in Idaho, adding significant girth and detail to a series of deposits that make up the Golden Meadows project.    Wednesday , 27 Jun 2012

Avion's incumbent board survives divisive AGM

Avion reportedly faced strong opposition at its AGM, but shareholders voted in favour of its board nominees after CEO, John Begeman, implored them to remember the group's successes.    Wednesday , 27 Jun 2012

Glencore battles to save Xstrata bid

Qatar's intervention pushed the deal to the brink as it prompted some shareholders to revisit their own particular concerns, such as soaring executive pay and fears that the combined entity would take on riskier business.    Wednesday , 27 Jun 2012

India's Reserve Bank considering banning banks from selling gold coins

Partly in a bid to curb rising gold imports, the country's highest bank is mulling the halting of gold coin sales by banks, saying it believes the sale of gold coins is not part of a bank's core business .    Wednesday , 27 Jun 2012

ArcelorMittal S.A. ordered to pay R526m to South African Manganese JV partner

According to court papers, the R11bn manganese venture between ArcelorMittal S.A. and Kalahari Resources is fraught with tension.    Wednesday , 27 Jun 2012

No new potash mines expected for 5 years - Potash Corp

Bill Doyle, CEO of the Canadian potash group, said there are no greenfield projects coming onstream between now and 2017.    Thursday , 28 Jun 2012

Rio Tinto power deal to help secure Tasmania aluminium smelter's future

The 57-year-old aluminium smelter is among an estimated $8 billion worth of assets bundled by Rio Tinto into its newly formed Pacific Aluminium division ahead of a possible divestment.    Thursday , 28 Jun 2012

Vale says iron ore price system unlikely to change soon

As long as the market remains as volatile as it currently is, miners will resist pressure from steel makers to conclude longer term pricing agreements, a senior Vale executive said.    Thursday , 28 Jun 2012

Brazil considering cancelling "strategic" mineral rights, would provide compensation

A senior government official said Wednesday the state is considering cancelling some mineral rights in areas some considered strategic and compensating mining firms for prospecting work done on those claims.    Wednesday , 27 Jun 2012

KGHM to keep Wirth at the helm

Some media had speculated that the Polish Treasury Ministry, which oversees state assets and controls KGHM, was looking to replace CEO Wirth because of differences over strategy.    Wednesday , 27 Jun 2012

Gold coin sales from national Mints fall in Q1 2012

The US, Canadian and Austrian Mints, which between them produce three of the world's top five bullion investment coins, all reported lower sales in Q1 2012 versus a year ago.    Wednesday , 27 Jun 2012

Indonesian gold miner Archipelago eyes 135-145,000 oz output

London-listed miner Archipelago Resources, which runs the Toka Tindung gold mine in north Sulawesi, has also targeted average gold production of 160,000 ounces over the next six years.    Wednesday , 27 Jun 2012

Australia expects iron ore exports to maintain growth

The pace of growth, in line with market expectations, reflects massive work from Rio Tinto and BHP Billiton to dig more mines amid predictions that China will maintain strong industrial growth.    Wednesday , 27 Jun 2012

Escondida agrees copper refining fees with Japan/S. Korea smelters

Sources say Chile's Escondida copper mine, majority-owned by BHP Billiton, has agreed on mid-term copper concentrate treatment and refining charges of $63.5 a tonne and 6.35 cents a pound.    Wednesday , 27 Jun 2012

Kyrgyz MPs reject motion to nationalise Centerra mine

The final resolution says Kyrgyzstan must revise its current 33% stake in Centerra Gold and must have a share in Kumtor mine's gold production.    Wednesday , 27 Jun 2012

Australian Customs to probe steel-dumping complaint

According to BlueScope Steel, the country's largest steelmaker, the probe will cover steel hot rolled coil from Japan, Malaysia, South Korea and Taiwan.    Wednesday , 27 Jun 2012

Resource nationalism a worry for investors as Mongolia heads to polls

Expectations are rising that policies could swing too far in the opposite direction, imposing more controls to redistribute mining wealth in a way that pleases voters.    Wednesday , 27 Jun 2012

Global steel glut could trigger mini-trade wars

The global steel industry is already hunkering down for a fresh round of closures and trade disputes as companies allege that rivals are dumping cheap metal on the market, threatening to trigger mini-trade wars.    Wednesday , 27 Jun 2012

Yesterday's top story: Panguite: Earth's newest and one of solar system's oldest minerals

The best-studied meteorite in history, Allende, is still yielding new mineral discoveries 40 years after it scattered thousands of pieces of meteorite across the State of Chihuahua in Mexico.    Wednesday , 27 Jun 2012

PODCASTS / RADIO                                                     

Long term gold investors and the current strength in gold ETCs

Nicholas Brooks, head of research and investment strategy at ETF Securities explains the recent strong moves seen in gold exchange traded commodities.

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.

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.

 

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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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