Tuesday, July 10, 2012

MINEWEB.COM'S TOP STORIES: U.S. thermal coal producer Patriot files for Chapter 11 Bankruptcy

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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.
 

TOP STORIES | Tuesday , 10 Jul 2012                                                     

U.S. thermal coal producer Patriot files for Chapter 11 Bankruptcy

Patriot Coal stock plunged 72% to 61 cents Monday after the news media reported the major thermal coal mining company had filed for Chapter 11 bankruptcy.    Tuesday , 10 Jul 2012

Fierce opposition to Roxgold board emerges just days before planned AGM

A Roxgold shareholder, Oliver Lennox-King, has issued a press release condemning Roxgold's incumbent board and soliciting votes for a new slate.    Monday , 09 Jul 2012

Lonmin: Ramping up despite tough times

The world's third largest platinum miner has opted to persevere with production ramp up when others have called it quits in the face of current low prices for pgms.    Monday , 09 Jul 2012

N.A. Palladium may sell Vezza gold mine to concentrate on palladium

North American Palladium hoped to commence commercial production at its Vezza gold mine in the third quarter, but production delays have convinced the company to concentrate on mining palladium.    Tuesday , 10 Jul 2012

Nevsun gets high gold grades at Bisha, but steady on guidance

Nevsun published production figures today that suggest gold grade from mining and milling in transitional ores is stronger than it had anticipated.    Monday , 09 Jul 2012

Mining promoters - good, bad or the key to great investment decisions?

James West reckons good, ethical promoters are "essential to the life cycle of public companies". The best of them tell a credible story about the company's structure, finances and deposit. Gold Report interview.    Tuesday , 10 Jul 2012

Can a growing global economy be good for gold and silver?

While many believe that gold and silver could well begin to fall when the global economy begins to recover, Julian Phillips is not as convinced.    Tuesday , 10 Jul 2012

Construction permits last hurdle for Anglo's Peru copper mine

Anglo American is in dialogue with Peru's government to obtain all relevant permits to start construction of its Quellaveco project which was postponed because of community opposition.    Tuesday , 10 Jul 2012

Gold Fields miners to stay off work after deaths

Miners at the KDC West mine in South Africa have decided to stay off work on Tuesday to honour five of their colleagues who died in a fire at the mine last week.    Tuesday , 10 Jul 2012

Areva's Niger uranium miners begin 72-hour strike

About 1,200 miners at the Akouta uranium mine owned by COMINAK, a subsidiary of nuclear group Areva, have embarked on a 72-hour strike to demand higher wages.    Tuesday , 10 Jul 2012

Labrador Iron resumes Quebec operations

The iron ore miner said Tuesday operations will resume at the Schefferville area after locals lifted a five-day blockade at the end of last week.    Tuesday , 10 Jul 2012

Guinea-focused Alufer plans $400 million bauxite mine

The company plans to invest the $400 million to develop its Bel Air bauxite project in the Boffa region of Guinea and has invested $22 million in the project to date.    Tuesday , 10 Jul 2012

Nigeria's supreme court strips RUSAL of aluminium firm

RUSAL acquired a 75% stake in ALSCON in 2007 for around $205 million and now owns 85% of its assets with the remaining stake belonging to the Nigerian government.    Tuesday , 10 Jul 2012

Alcoa beats Wall Street expectations despite low aluminium prices

The aluminium producer's CEO, Klaus Kleinfeld, attributes the low aluminium prices to the current global economic malaise, saying the metal's fundamentals are good and the market is working.    Tuesday , 10 Jul 2012

Los Bronces mine ramp-up on track despite June snow

Anglo American's head of copper, John MacKenzie, says despite June's heavy snowfall, Los Bronces remains on track to complete its ramp-up by October.    Monday , 09 Jul 2012

Codelco aims for Anglo American deal before talk window ends

Chairman Gerardo Jofre says the miner is aiming to reach a deal to solve a dispute with Anglo American before the companies' negotiation window closes on July 17th.    Monday , 09 Jul 2012

LME shareholders to vote on HKEx takeover bid July 25

The LME said in a statement Monday it had set the date for the vote and sent documents to its shareholders on the takeover plan, including details of potential payouts for its executives.    Monday , 09 Jul 2012

South African union to ask court to reopen Aquarius mine

Radical union AMCU says Aquarius Platinum violated labour laws by not consulting with it in a timely fashion over the closure of the Everest mine, adding it is willing to go to court over the issue.    Monday , 09 Jul 2012

Yesterday's top story: 'Idiots' controlling the world's economies - gold in lockdown

Paul Mylchreest's latest prognostications on the global economic situation make for worrying reading. While gold could be a part of the ultimate answer it is currently in lockdown while dollar devaluation looms.    Monday , 09 Jul 2012

PODCASTS / RADIO                                                     

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.

Why supply is going to be the next big mining issue - Jeremy Gray

Standard Chartered's Jeremy Gray looks at how the commodities sector is currently placed and why future supply is going to become a big issue.

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.

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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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