Friday, July 20, 2012

MINEWEB.COM'S TOP STORIES: Freeport H1 profits almost halved as copper, gold and moly production all fall

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TOP STORIES | Friday , 20 Jul 2012                                                     

Freeport H1 profits almost halved as copper, gold and moly production all fall

With things getting back to normal at Grasberg, FCX CEO Richard Adkerson says he believes the global outlook for copper is good as inventories have dropped globally and markets remain relatively tight.    Friday , 20 Jul 2012

Resource nationalism fears as Mongolian ruling party forms coalition

Mongolia's biggest political party has formed a coalition with fringe parties which want to limit foreign mining investment in order to gain parliamentary majority.    Friday , 20 Jul 2012

2nd lowest rate of U.S. mining fatalities reported in 1H12

During the first half of this year, 19 people died in work-related accidents at the nation's mines - the second lowest number ever recorded in a six-month period MSHA reports.    Friday , 20 Jul 2012

Anglo American calls in platinum veteran as miners face glut

Cynthia Carroll, CEO of Anglo American, has asked Chris Griffith to return to the platinum operation where he spent 18 years before leaving in May 2008 to run Kumba Iron Ore Ltd.    Friday , 20 Jul 2012

Codelco seeks access to "world-class" Ecuadorian copper/moly deposit

Chilean miner Codelco is negotiating with Ecuador for the Junin deposit which contains enough copper and molybdenum to rival the biggest mines in both Chile and Peru, an industry group says.    Friday , 20 Jul 2012

De Beers H1 earnings halved; sees tough H2 ahead

The diamond miner said Friday its profit before finance charges and taxation for the first half totalled $502 million, from $1.02 billion reaped the first six months of 2011.    Friday , 20 Jul 2012

SEC extends review of JPMorgan's copper ETF plan

The regulator asked for more feedback from the U.S. bank that has pushed to launch the fund for almost two years and from copper fabricators and Red Kite, who have opposed the product.    Friday , 20 Jul 2012

South Africa's NUM threatens strike at ARM nickel mine

Dominant South African workers union NUM said Thursday it was preparing to go on strike at the Nkomati nickel mine, a JV owned by African Rainbow Minerals and Russia's Norilsk.    Friday , 20 Jul 2012

Another gold mining company CEO walks the plank

Gold miner Avocet Mining's CEO, Brett Richards, has stepped down and joins a growing list of top executives who have resigned in the face of difficult times in the gold mining and exploration sector.    Thursday , 19 Jul 2012

Gold miner Avocet appoints new CEO to lead turnaround

Avocet Mining is the latest gold miner to appoint a new leader to try and improve its performance and strategy looking forward.    Thursday , 19 Jul 2012

The need to make gold acceptable to the world's powers that be

If gold is to play a part in any future financial system it has to become acceptable to governments, central banks and commercial banks alike. This process appears already to be under way.    Thursday , 19 Jul 2012

It's a fine line between gold manipulation and intervention

All markets are manipulated! However how do you define the line between manipulation (bad?) and intervention (acceptable?) - particularly with respect to the gold and silver markets?    Thursday , 19 Jul 2012

Show me the money: should big miners be made to disclose who they pay?

Just how transparent are the world's biggest miners when it comes to payments to foreign governments - and how much of this do local communities see?    Thursday , 19 Jul 2012

Queensland union says mining tax challenge a waste of money

A major non-mining Union in Queensland, Australia has said that to challenge the country's new mining tax in court is a waste of taxpayer's money which could be spent elsewhere.    Friday , 20 Jul 2012

Notable improvement seen in uranium supply and demand parameters

Underperformance right now in junior uranium miners is transient and nuclear power is here to stay according to nuclear sector investment specialist Jeb Handwerger. Energy Report interview.    Friday , 20 Jul 2012

Karnalyte outlines magnesium upside to Wynyard potash project

Magnesium co-products add another facet to Karnalyte's Wynyard potash project in Saskatchewan.    Thursday , 19 Jul 2012

Atico hits rich thick copper-gold VMS drill intercepts in Colombia

Canadian exploration junior, Atico Mining, is off to a good start in its underground drill program at El Roble in Colombia, hitting two 40-metre intercepts with high-grade copper and gold.    Thursday , 19 Jul 2012

Sandvik produces record Q2 earnings - beats forecasts

An structural overhaul and some sharp costs reductions enabled Sandvik to beat forecasts and come up with record Q2 profits - but wary on Q3.    Thursday , 19 Jul 2012

India's Q3 gold imports seen falling by a third

A Reuters poll showed Thursday India's gold imports could fall by a third in the next 3 months as prices inflated by a weak rupee and a 4% import duty encourage traders to use scrap.    Thursday , 19 Jul 2012

Rio Tinto blames Australia mine job cuts on coal prices

The mining giant announced Thursday it was cutting an unspecified number of jobs at its Clermont coal mine as it struggles weak thermal coal prices.    Thursday , 19 Jul 2012

Can India still raise $5.4b by stake sale in resource majors this year

Slower economic growth in the country has got the Indian government eager to raise $5.4 billion mainly from resource sector privatisation sales, to bridge the gap in the fiscal budget, but the programme has seen delays and deferments.    Thursday , 19 Jul 2012

Bernanke batters Ron Paul Fed audit bill

Citing interference in Central Bank independence, Fed Chairman Ben Bernanke calls Rep. Ron Paul's "Audit the Fed" bill a "nightmare scenario".    Thursday , 19 Jul 2012

Yesterday's top story: Trio of gold juniors flying high on long, high-grade gold intercepts

Drilling results from three separate gold projects rolled in Wednesday morning, catapulting the share prices of their respective junior owners.    Wednesday , 18 Jul 2012

PODCASTS / RADIO                                                     

The biggest misconception in gold and other factors driving the metal - Ronald Stoeferle

A look at the latest edition of the Erste Group's 'In gold we trust' report and some of the big factors at work within the gold market.

Where are we in the commodities super cycle - Nic Brown

A look at whether or not the commodities supercycle is coming to an end and what it means for the industrial commodities sector.

Gold stocks, and the diminishing returns of QE - Adrian Day

Adrian Day looks at the major factors affecting gold over the last few months and what the prospects are for gold stocks.

Junior mine financing - time to run and hide

For Oreninc's Benjamin Cox, in the current environment, especially this summer, miners shouldn't be financing a nickel more than they have to.

 

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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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