Friday, July 13, 2012

MINEWEB.COM'S TOP STORIES: U.S. House passes National Strategic and Critical Minerals Production Act

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TOP STORIES | Friday , 13 Jul 2012                                                     

U.S. House passes National Strategic and Critical Minerals Production Act

A controversial measure to streamline permitting for U.S. strategic and critical minerals won strong Republican support in the U.S. House, but is expected to stall in the Democratically-controlled Senate.    Friday , 13 Jul 2012

S&P lowers 2012 nickel, aluminum price forecasts

As Standard & Poor's lowered its nickel and aluminum price assumptions to $7.50/lb and 90-cents per pound, respectively, price forecasts for other metals remain unchanged for this year.    Friday , 13 Jul 2012

Semafo's 30% investor dressing down - is it overkill?

Semafo has lost well over C$300 million in market capitalization on the back of a resource update it put out Wednesday, while there is room for disappointment some commentators think the reaction has been a little extreme.    Thursday , 12 Jul 2012

Chinese rare earth exchange to be launched in Baotou on Aug. 8

Baotou Steel Rare Earths Hi Tech has apparently realized its goal of establishing China's first rare-earth trading platform in Inner Mongolia, China's top light rare earths production region.    Friday , 13 Jul 2012

Adani, QR team up for Galilee Basin coal rail

Adani is expected to initiate digging operations at its Carmichael coal mine in Australia's Galilee Basin in July 2013, with most of the coal earmarked for India's domestic consumption.    Friday , 13 Jul 2012

Northern Minerals defines Australian heavy rare earths project progress

Heavy Rare Earths (HREEs) are the holy grail in the sector, commanding the highest prices and Australia's Northern Minerals seems to be getting along nicely with its Browns Range HREE project.    Thursday , 12 Jul 2012

Gold back in fashion, next stop $2,300

In his latest edition of the annual In Gold We Trust report, Erste Group's Ronald Stoeferle explains why he sees the gold market entering a new phase and prices heading beyond $2,000.    Thursday , 12 Jul 2012

BCSC raises doubts on Barkerville's huge gold resource estimates

The British Columbia Securities Commission has expressed doubts about the methodology and analysis behind Barkerville Gold's massive resource estimates.    Thursday , 12 Jul 2012

Bolivia willing to compensate South American Silver

Vice President Alvaro Garcia says the government is willing to compensate South American Silver Corp for revoking its concession on the Malku Khota project.    Friday , 13 Jul 2012

Peru brokers deal on Anglo American copper mine

The global miner has agreed to make voluntary payments of some $370 million to communities near its planned Quellaveco copper mine during its' 30 years of operations.    Friday , 13 Jul 2012

Mitsubishi Corp could unlock Anglo, Codelco gridlock

Sources familiar with the matter say the Japanese firm could cede part of its stake in disputed Chilean copper properties to solve a bitter row between Anglo American and Codelco.    Friday , 13 Jul 2012

Anglo Asian Mining cuts Azerbaijan gold output

Due to an unreasonably harsh winter, production figures for the first half of 2012 fell marginally below management's internal estimates, but says it will maintain annual production target at 54,000/oz.    Friday , 13 Jul 2012

Nyrstar mulling A$350m zinc smelter redevelopment

The Belgium-based company is looking into redeveloping its Australian Port Pirie smelter into a metals recovery facility to extend its processing capabilities.    Friday , 13 Jul 2012

Tinkler's bid to takeover Whitehaven Coal struggling

Sources with knowledge of the matter say the coal magnate's bid is struggling as potential partners for the estimated $5 billion plan fret about the outlook for coal prices.    Friday , 13 Jul 2012

Hoard of ancient gold coins found at Israel crusader site

The 108 coins, one of the biggest collections of ancient coins discovered in Israel, were found hidden in a ceramic jug beneath a tile floor at the cliff-top coastal ruins, 15 km from the capital.    Thursday , 12 Jul 2012

Chartered Kinross Gold plane crashes in Mauritania, 7 killed

The YAK-12 military plane was chartered to carry gold from Kinross's Tasiast mine, located some 300 kilometers north of the Mauritanian capital of Nouakchott.    Thursday , 12 Jul 2012

Russia warns Nigeria of damage to relations on Rusal asset transfer

Russia's Foreign Ministry has warned Nigeria of potential damage to bilateral relations and urged action against a court decision that stripped miner Rusal of its aluminium smelter.    Thursday , 12 Jul 2012

China Copper Mines to invest $100m in Zambia project

If approved, the company plans to exploit five mineral waste dumps created by mining operations at the high-grade Fitula open pit more than 400 km north-west of Lusaka.    Thursday , 12 Jul 2012

Lifting ban on Tampakan mine unlikely - Philippine governor

According to South Cotabato governor, Arthur Pingoy, Sagittarius Mines may have to go to court to end the ban on open-pit mining, a method to be used at the huge copper/gold prospect in Tampakan.    Thursday , 12 Jul 2012

Gold to hit new high before year end - Eric Sprott

Rallying to a record would mean gold climbing at least 22% from yesterday's close on the Comex in New York, where bullion for August delivery fell 0.3% to $1,575.70 an ounce.    Thursday , 12 Jul 2012

Yesterday's top story: LIBOR scandal brings gold price manipulation once more to the fore

Manipulation of all things financial, including gold, has been highlighted by the revelations about the fixing of the LIBOR. Governments, central banks and financial institutions all stand accused, but do they care?    Thursday , 12 Jul 2012

PODCASTS / RADIO                                                     

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.

Resource Nationalism still topping EY's Business Risk Charts - Mike Elliot

Ernst & Young's Global Mining and Metals leader, Mike Elliot, discusses some of the key points found in the group's Business Risks Facing Metals and Mining for 2012 Report.

QE, gold stocks and summer expectations for bullion - Tom Kendall

Credit Suisse's Tom Kendall looks at the likely impact of QE3, what we can expect from Asian demand in the rest of the year and, what we can expect over summer.

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ENGINE ROOM

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Lawrie Williams, London
Geoff Candy, Groningen

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Dorothy Kosich, Reno
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