Monday, August 27, 2012

MINEWEB.COM'S TOP STORIES: Newmont's resolve on water issues undeterred by Minas Conga setback

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TOP STORIES | Monday , 27 Aug 2012                                                     

Newmont's resolve on water issues undeterred by Minas Conga setback

In spite of a two-year delay on the Minas Conga copper-mining project, Newmont CEO Richard O'Brien told employees that work will continue on providing water supplies for Cajamarca residents.    Monday , 27 Aug 2012

Jeff Nichols: 'No gold bug - just super bullish'

A super bullish long term future for gold is Jeff Nichols' vision for the yellow metal, yet he reckons to be not a gold bug, but a dispassionate economic analyst - and still comes to this conclusion.    Monday , 27 Aug 2012

Marikana's labour aftershocks

As the ground beneath the feet of the labour movement continues to shift, one can only hope the process remains as open as it seemed on Friday.    Monday , 27 Aug 2012

Did competition for gold streams and royalties just get more crowded?

Sandstorm Gold, if it maxes a C$150 million financing, will suddenly have C$200 million at its disposal to spend on gold streams or royalties.    Friday , 24 Aug 2012

Cameco buys BHP Billiton's Yeelirrie uranium project for $430m

Canada's top uranium miner, Cameco, is adding one of Australia's largest undeveloped uranium deposits to its portfolio.    Monday , 27 Aug 2012

More to Republican gold standard flirtation than meets the eye

While many of even the most ardent gold bugs don't really see a return to a gold standard, the move by Republicans to put it on the party platform does demonstrate a seriousness of intent around monetary policy.    Monday , 27 Aug 2012

Northam Platinum raises the BEE question that shareholders should be asking

With mining stock prices fluctuating it can be difficult to retain the requisite proportion of black investment under the BEE (Black Economic Empowerment) legislation in South Africa. Should the miners keep on bearing the cost of adjustment?    Friday , 24 Aug 2012

BHP CEO sees long-term price declines for its commodities

CEO of the world's biggest mining company Marius Kloppers says he sees long-term price declines for its commodities as slower economic growth in China weighs on demand.    Monday , 27 Aug 2012

Lonmin now racing to restart mining after mourbing period

After a period of mourning for comrades killed in a wave of labour unrest, the world's number 3 platinum producer hopes to restart mining as soon as possible.    Monday , 27 Aug 2012

Qatar remains Xstrata buyer at current prices

The Qatari SWF has emerged as the second-largest shareholder in Xstrata and is keen on building its stake further should the proposed takeover by Glencore collapse, say sources familiar with the matter.    Monday , 27 Aug 2012

Platinum prices could rise in 2013 on limited supply

Analysts say prices of platinum could rise next year as markets digest limited supply from top producer South Africa, where output has fallen sharply over the last year.    Monday , 27 Aug 2012

RUSAL to cut capacity as weak aluminium prices hit profits

The likely initial cuts, about 4% of expected 2012 output, would be part of a review of 275,000 tonnes of capacity, with subsequent cuts possible in stages through 2018.    Monday , 27 Aug 2012

Sundance accepts lower Hanlong takeover bid

Sundance Resources has accepted a takeover offer of $1.42bn from China's Hanlong Group, saying it reflects current the nature of the market and could clinch the deal that has dragged on for a year.    Monday , 27 Aug 2012

SA mines may move to centralised labor talks over wages

"The current status quo wherein each company negotiates individually has created opportunity for non-recognized labor structures to make demands outside the agreed and recognized forums," the mines ministry says.    Monday , 27 Aug 2012

Turkey's gold reserves jump by almost a fifth

According to IMF data released Friday, Turkey's central bank raised its gold reserves to 9.3m troy ounces in July.    Saturday , 25 Aug 2012

Mitsui to market large share of output from Anglo Chile unit

Mitsui's direct ownership amounts to roughly 5%, but it will have the right to market the entire output share from its JV with Codelco, totaling 120,000 t/y of copper.    Friday , 24 Aug 2012

More than half the workers back at some shafts - Lonmin

According to the beleaguered platinum miner, more than half of the workers at some of its Marikana mine shafts reported for work on Saturday.    Saturday , 25 Aug 2012

Surge in gold options show investors bracing for Fed let-down

This week's numbers show that investors are bracing themselves for a blow to hopes the U.S. Fed will act to foster growth, prospects that have set gold on course for biggest weekly rise since early June.    Friday , 24 Aug 2012

BHP Billiton still committed to $20bn Australia port project

The group said Wednesday it was shelving at least one of three major projects, the $20 billion Olympic Dam mine expansion and putting all approvals on hold as it battles costs.    Friday , 24 Aug 2012

Indonesia tin smelters halt output; exports halved

All but one or two of the 28 licensed smelters in the main tin producing region of Bangka-Belitung have now stopped operating, an increase from around six being shut earlier this month.    Friday , 24 Aug 2012

Weekend's top story: Does China have a hidden agenda on gold?

China is currently in some economic difficulty which could impact internal stability and some feel that the global megapower is planning to utilise gold to reboot and pick its way out of an economic meltdown.    Friday , 24 Aug 2012

PODCASTS / RADIO                                                     

Marikana, Implats and the struggles facing SA's platinum sector - Terence Goodlace

The days of South Africa producing 5m ounces of platinum are over for the short to medium term, the new CEO at Impala Platinum says.

Serious issues afflicting the industry as a whole - RBPlat CEO

Royal Bafokeng Platinum CEO Steve Phiri talks about the issues South African platinum producers face and the need for leaders to be proactive.

Copper: The illusion of demand and the reality of consumption - Hunt

Simon Hunt believes that copper is no more than part of the money game at the moment.

Central bank gold buying and the importance of investment demand - Grubb

"I think the big question is whether the US investor joins the party in the second half of the year"

 

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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
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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