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Showing posts with label 2013.:. Show all posts
Showing posts with label 2013.:. Show all posts

Apr 5, 2013

Mineweb Top Stories April 5, 2013.: 2012 U.S. copper production at highest level in 3 years—U.S.G.S.

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TOP STORIES | Friday , 05 Apr 2013                                                     

2012 U.S. copper production at highest level in 3 years—U.S.G.S.

U.S. smelter copper output last year declined to its lowest level since before World War II, the U.S. Geological Survey reported.    Friday , 05 Apr 2013

Idaho hobbyist suction-dredge miners must obtain Clean Water permits—EPA

The long-simmering feud involving tribal groups, environmentalists and hobbyist miners is now complicating life for small suction-dredge miners in the historic mining state of Idaho.    Friday , 05 Apr 2013

Dominion Diamond would consider Diavik mine deal at right price

According to Dominion CEO, Robert Gannicott, Dominion Diamond Corp has the means to buy Rio Tinto's majority stake in the northern Canadian diamond mine.    Friday , 05 Apr 2013

The seasons of investment and gold's role in Winter

Julian Phillips argues that, while no one knows what the future holds, it is likely that the future will be tough and gold will be a good thing to hold.    Friday , 05 Apr 2013

Nautilus runs financing under gun from suppliers

Nautilus Minerals explains the rationale for a C$40 million rights offering amidst crisis.    Thursday , 04 Apr 2013

Top copper union threatens strikes as Chile shipments restricted

“These protests are a warning,” Gustavo Tapia, president of the Mining Federation of Chile, an umbrella organisation known as FMC representing 11,000 workers.    Friday , 05 Apr 2013

Randgold, Amara are Numis's top mining stock picks

Mid-tier gold miner, Randgold Resources, and junior gold miner Amara Mining, are Numis Securities’ current top larger and smaller company share picks in the mining sector.    Thursday , 04 Apr 2013

Gold and silver – one step forward, two steps back: Plus ça change

Cyprus gave a shortlived boost to gold and silver prices but they have since declined sharply even though the Eurozone continues to face serious problems and tensions are rising in the East. What is going on in the markets?    Thursday , 04 Apr 2013

GFMS sees gold at $1,850 this year before drop begins

Thomson Reuters GFMS says the metal will rise toward $1,850 by the end of this year before prices begin to drop as economic growth improves.    Thursday , 04 Apr 2013

After delay, Tahoe gets exploitation permit for Escobal

Tahoe Resources gets the nod to mine Escobal in Guatemala - finally.    Thursday , 04 Apr 2013

Australian copper mine added to Rio Tinto "for sale" list - source

According to sources close to the matter, the miner has hired investment bank Macquarie to sell its majority stake in the Northparkes copper mine in Australia.    Friday , 05 Apr 2013

Kazakh firm seeks $400m from Kyrgyzstan over gold licence

Visor Holding has filed for arbitration of a $400 million claim against the government of Kyrgyzstan, alleging illegal expropriation of a licence to develop Jerooy gold deposit.    Friday , 05 Apr 2013

Drummond’s coal miners begin voting on wage deal renewal

Workers will set their demands for a wage increase and improved health benefits by April 16, says Drummond union negotiator John Mendoza.    Friday , 05 Apr 2013

Chile to produce 5.58m tonnes of copper in 2013 - Cochilco

According to the country's state copper commission, massive investment in its aging miners will help boost production but, it will still com in lower than initially forecast.    Friday , 05 Apr 2013

Mine production hits record but jewellery fabrication drops - GFMS

According to Thomson Reuters GFMS, soaring investment in exchange-traded funds helped cushion the impact of lower off-take for jewellery and falling physical bar buying, it added.    Thursday , 04 Apr 2013

Yesterday's top story: Brutal day for precious metals juniors, explorers

It was not a nice day to be a precious metals junior or explorer.    Wednesday , 03 Apr 2013

PODCASTS / RADIO                                                     

The gold bear market and the importance of investment - CPM

Jeff Christian talks about the CPM Group's latest Gold yearbook, the importance of investment demand and where he sees a floor for the price.

Silver, mining ETFS and service companies

Pure Funds COO, Andrew Chanin looks at recent fund moves within the precious metals ETF space, the trends in mining equity ETFs and discusses services companies.

Exploration, funding woes and the lack of high grade gold discoveries

IntierraRMG's Chris Hinde discusses why gold discoveries are declining and the longer term implications of this for the sector.

The new and improved social miner - O'Keefe

"There's a recognition that we’re all in it together and the solutions to a certain extent have to be collaborative and worked out together."

Mar 27, 2013

And then a third of lithium supply went private: Mineweb Top Stories; March 27, 2013.:

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TOP STORIES | Wednesday , 27 Mar 2013                                                     

And then a third of lithium supply went private

A private Chinese firm gets control of Talison Lithium in part owing to loans from a state-owned enterprise.    Wednesday , 27 Mar 2013

Coeur Mines to reportedly announce name change, relocation to Chicago

Chicago Mayor Rahm Emanuel and Illinois Gov. Pat Quinn will announce today that Coeur d’Alene Mines will move its corporate headquarters to Chicago.    Wednesday , 27 Mar 2013

Nevada Senate Panel unanimously votes to remove mining taxation limits

Nevada mining companies now find themselves directly in the sights of cash-starved local governments, human resources programs, and school districts desperately seeking more revenue.    Wednesday , 27 Mar 2013

Ottawa MP launches new Conflict Minerals Bill

NDP Member of Parliament Paul Dewar hopes conflict minerals supply chains will adhere to a program similar to the Kimberley Process for “blood diamonds”.    Wednesday , 27 Mar 2013

Juniorland: Atico drills Ares, Talison does the deal, Salazar + Trafigura

Atico cuts some more nice looking VMS intercepts in Colombia, while Salazar brings aboard Trafigura and the Talison takeover is in the money.    Tuesday , 26 Mar 2013

UPDATE: Sibanye debt repayment shows off cash generation potential

A first payment of R570m towards the R4bn in debt it owes post its unbundling from Gold Fields highlights its potential as a dividend payer.    Tuesday , 26 Mar 2013

Amplats has tough sell for 14,000 job cuts plan

Amplats’ consultation process on the 14,000 job cuts, which will mothball two mines near the platinum belt city of Rustenburg, ends on March 31.    Tuesday , 26 Mar 2013

China's steel stockpiles at record high, output slips

Stockpiles of steel products at large Chinese producers surged to a record near 15 million tonnes as of mid-March    Wednesday , 27 Mar 2013

China steel firm buys 10% of Swiss steel trader Duferco

Under the deal, Tangshan Steel, part of China's Hebei Group, will buy 10% of the Swiss firm while Duferco gets the exclusive right to sell Tangshan's steel outside Asia, sources say.    Wednesday , 27 Mar 2013

Report points to rising costs as Rio's Mongolia mine grows

Rio Tinto has confirmed in technical documents a $5.1 billion budget for the Mongolian project's second phase, but it has reduced the scale of that planned expansion    Wednesday , 27 Mar 2013

Barrick looking for Munk successor

In a letter to shareholders in Barrick's 2012 annual report, released on Tuesday, Munk said it was time for the company to "consider a path to new leadership at our board level."    Wednesday , 27 Mar 2013

Mongolia looks to arrest mining investment slump

Mongolia is looking to curb uncertainty over regulations that have been blamed for stalling copper coal projects    Wednesday , 27 Mar 2013

Latest version of InSite mine software released

GEOVIA, formerly Gemcom, has released InSite 4.3 – the latest version of its mine production management and reconciliation software    Wednesday , 27 Mar 2013

Too soon to draw trends from Indian gold ETF sell-off

No cause for worry, say market participants, as gold ETFs partially lose their sheen in India.    Tuesday , 26 Mar 2013

Yesterday's Top Story: Infrastructure bottlenecks crimping SA mining's growth - Baxter

According to the country’s Chamber of Mines, South Africa’s mining industry has the potential to grow by between 3% and 5% per year.    Tuesday , 26 Mar 2013

MINEWEB RADIO >                                                                                             


PODCASTS / RADIO                                                     

The new and improved social miner - O'Keefe

"There's a recognition that we’re all in it together and the solutions to a certain extent have to be collaborative and worked out together."

The practicalities of gold and silver as legal tender - Danker

Director of Economics at the American Principles Project explains exactly how gold and silver would work as legal tender and why he supports such legislation.

Gold, politics and a whiff of inflation expectation - Steel

HSBC's James Steel discusses why he remains moderately bullish on gold prices this year and why rising geopolitical tension is likely to play an important role in the markets.

Cyprus, base metals and Chinese optimism - Brown

Natixis' Nic Brown looks at the lay of the commodities landscape in light of continued optimism about Chinese and US growth.

Mar 22, 2013

European Markets at Close report March 22, 2013.: Europe stocks off 1.1% on week amid Cyprus woes; by Sara Sjolin, MarketWatch

By Sara Sjolin, MarketWatch 
LONDON (MarketWatch)After a volatile week with Cyprus bailout talks in the spotlight, most European stock markets closed in the red on Friday, as the Cypriot government highlighted the urgency of finding a solution before Monday’s European Central Bank deadline. 

The Stoxx Europe 600 index XX:SXXP -0.15% closed 0.2% lower at 294.04, closing out the week with a 1.1% loss.

The index had spent most of the week in mildly red territory over concerns that Cyprus would default or leave the euro zone if failing to close a bailout deal by Monday’s deadline set by the ECB. The moves were, however, fairly muted, as market participants expressed doubt the Cypriot drama would spread to other countries or pose a risk to recent favorable market conditions. Read: Three reasons why the euro is rising despite Cyprus turmoil
“What we take comfort in is that [in] the current situation the macro environment remains strong and corporate earnings have beaten expectations,” said Atif Latif, director of trading at Guardian Stockbrokers, in emailed comments. 

“With the [outright monetary transactions program] firmly in place and the ECB standing as the lender of last resort, we do not think that contagion will occur given the absolute value of the bailout is manageable, hence the market can absorb this,” he added. 

One of the latest plans to save the country from a bankruptcy was destroyed Friday, as Germany reportedly rejected a plan by Cyprus to bundle pension funds with state assets as part of an investment fund that would be used as collateral for fresh bonds. 

The parliament was expected to hold an emergency session to discuss other measures to raise the 5.8 billion euros ($7.5 billion) needed for a bailout, with government spokesman Christos Stylianides saying the next few hours “will determine the future of this country”. Media reports said political leaders were planning to meet around 5 p.m. London time, or 1 p.m. Eastern. Read: What will actually happen if Cyprus deal fails
The euro-zone finance ministers, referred to as the Eurogroup, said in a late Thursday statement that they stand ready “to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible.”

Bank spinoff

Further on Friday, Cyprus and Greece agreed to spin off Greek units of indebted Cypriot banks, excluding them from a potential controversial levy on bank deposits. But the spinoff shouldn’t change the urgency for the struggling Mediterranean nation to come up with a new bailout plan by Monday, when European Central Bank warned it could cut off emergency help to the country, Steen Jakobsen, chief economist at Saxo Bank in Copenhagen, said. 

“The reason for doing this is to reduce the liabilities of deposits. Deposits are liabilities to the banks, and by spinning these branches off they decrease the size of the balance sheet and then decrease the need for capital. But you have to be cautious in making this a done deal,” Jakobsen said.

Reuters Enlarge Image
Cypriot banks remain closed for business as lawmakers work on a new bailout proposal.
A bailout deal announced last weekend included an unprecedented tax on bank deposits, but the Cypriot parliament on Tuesday rejected the conditions for the rescue plan. 

Trading was suspended on the Cyprus Stock Exchange and banks were expected to reopen Tuesday.

“I think they’ll come up with a plan, but not enough to stop a run on the banks. When the banks open their doors again, everyone wants to take out money from the banks. This could move from an insolvency problem to a liquidity problem for the banks,” Jakobsen from Saxo Bank said. 

He further suggested, as a bare minimum, to buy some puts to protect long positions in the stock market against a “Lehman scenario”.

“From a technical standpoint, there’s a 2% upside to the [European] stock market against a 10% downside. As a trader I need to react to that,” he said.


Banks were among the biggest decliners in Europe. Shares of Société Générale SA FR:GLE -2.52% dropped 2.5% in Paris and Royal Bank of Scotland Group PLC UK:RBS -2.40% RBS -1.53% shed 2.4% in London and Banco Santander SA ES:SAN -0.83% SAN +0.50% fell 0.8% in Madrid. 

France’s CAC 40 index FR:PX1 -0.12% , fell 0.1% to 3,770.29, ending the week 1.9% lower, while Germany’s DAX 30 index DX:DAX -0.27% lost 0.3% to 7,911.35, off 1.6% on the week.

Week ahead: The Cyprus factor
Cyprus is likely to dominate financial markets next week as a rescue deal remains elusive. .

Shares of Salzgitter AG DE:SZG -2.94% shaved off 3.3%, after the steel producer said it plans to cut dividend payments by 44% after swinging to a loss in 2012. 

Also of interest in Germany, the Ifo institute said its business-climate index slipped to 106.7 in March, missing expectations of a small rise. 

“Given the uncertainty surrounding Cyprus and Italy, we expect business sentiment to continue to fade. What’s more, the effects of the rise in the euro in the latter part of 2012 and early 2013 are unlikely to have been fully felt by exporters just yet,” Ben May, European economist at Capital Economics said in a note.
“As a result, we still think that a sustained German economic recovery in 2013 is a hope too far,” he added.
The U.K.’s FTSE 100 index UK:UKX +0.07% gained 0.1% to 6,392.76, although closing out the week 1.5% lower. 

BP PLC UK:BP +1.85%   BP +2.68% rose 1.9%, as the oil major said it plans to buy back $8 billion of its own shares to return its 2003 investment in the joint venture TNK-BP to shareholders. 

Sara Sjolin is a MarketWatch reporter based in London. Follow her on Twitter @sarasjolin.

Mar 21, 2013

Monetary Policy Statement From the Federal Reserve.: NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS March 21, 2013.:

The New York Times

March 21, 2013 Compiled: 12:34 AM

The Fed’s statement announcing it was holding its base federal funds target rate at a record low between zero and 0.25 percent:

As welcome as a long-awaited improvement in the American housing market may be, the unusually low level of homes for sale is creating problems for buyers and sellers.

“We need to see sustained improvement,” the Fed’s chairman, Ben Bernanke, said on Wednesday. “One or two months doesn’t cut it.”

Boys raised in single-parent households, particularly those headed by women, appeared to fare poorly.

After falling Monday on concerns that Cyprus would become the latest European nation to stir fiscal chaos, the Dow Jones industrial average posted its second straight day of gains.

Mar 20, 2013

Newcrest – a gold major with strong production pipeline: Gold Mineweb Daily News March 20, 2013.:

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TOP STORIES | Wednesday , 20 Mar 2013                                                     

Newcrest – a gold major with strong production pipeline

Newcrest CEO Greg Robinson sets out his views on the future of gold and the forward production potential of one of the world’s largest gold miners.    Wednesday , 20 Mar 2013

Silver follows gold down in India

While events in Cyprus have helped bolster gold this week, silver remains under selling pressure in India.    Wednesday , 20 Mar 2013

Sprott on banks, gold and silver – mania, manipulation and meltdown

Eric Sprott may have surprised a new audience with some very pessimistic views on banks and the global economy, but spoke very positively on the investment merits of gold – and particularly of silver.    Wednesday , 20 Mar 2013

Alamos Gold drops its hostile bid for Aurizon Mines

Frustrated by C$27.2 billion break fee which it would have to pay to Hecla Mines on top of its original offer, Alamos allowed its hostile bid for Aurizon Mines to expire.    Wednesday , 20 Mar 2013

As Yukon exploration cycle matures, Agnico-Eagle buys 8% of Atac

Agnico-Eagle to become a significant shareholder of Yukon explorer Atac Resources.    Wednesday , 20 Mar 2013

Arizona could soon approve gold, silver as legal tender

After being rejected by three state legislatures this year, a measure to recognize U.S. Government-minted gold and silver coins as legal tender may find a second home in Arizona.    Wednesday , 20 Mar 2013

Why copper is more interesting than gold - Berlenbach

Joachim Berlenbach believes copper is shining brighter than gold right now and calls on investors to up their risk appetites An interview with The Metals Report.    Wednesday , 20 Mar 2013

Broad commodity ETFs get inflows as investors flee gold funds

Data from funds tracker Lipper shows that wider commodity ETFs had inflows of a little more than $1 billion in January and are headed for another positive month in March.    Wednesday , 20 Mar 2013

SPDR gold ETF reports first net inflow in 6 weeks

The gold-backed ETF saw its holdings rise 0.22% to 1,222.16 tonnes on Tuesday, its first one-day net inflow in nearly six weeks.    Wednesday , 20 Mar 2013

Centamin's Egypt operations to continue during appeal

Centamin is appealing an Egyptian administrative court ruling last year which declared its’ mining right to operate the Sukari mine, its main asset, invalid.    Wednesday , 20 Mar 2013

Zijin, Sprott to set up $500m offshore investment fund

The Chinese gold miner has agreed set up an offshore investment fund with Canada-listed Sprott Inc with a target size of $500 million.    Wednesday , 20 Mar 2013

JPMorgan won’t face revived suit over silver manipulation

A U.S. district judge has rejected a bid to revive claims that JPMorgan manipulated silver futures and options prices in violation of U.S. antitrust law.    Tuesday , 19 Mar 2013

Another reason to hold wealth in gold - Levenstein

Events in Cyprus give David Levenstein more of a reason to focus on gold and silver.    Wednesday , 20 Mar 2013

MINEWEB RADIO >                                                                                             


COMPANY RELEASES                                                     

Centamin Provides Market Update (Court Ruling Suspended)

Sibanye Gold Provides Update on Driefontein Power Outage

Silver Wheaton Provides New details for Mar 22, 2013 Conference Call

Thundelarra Releases Technical Presentation (AGES 2013)

Veris Gold Announces Unaudited Year End Results for 2012

Crest Signs Binding MOU to Acquire High-Grade Gold Mine in WA

Silver Wheaton Reports over 1 Billion Ounces of Attributable Silver Equivalent Reserves

Oromin Files Updated NI 43-101 Technical Report For OJVG Gold Project

Bralorne Gold Mines Ltd. Provides Operational Update

Mar 14, 2013

Video: Catholics Speak: Filling the Pews: NYT | Today's Headlines March 14, 2013.

The New York Times

Today's Headlines

Thursday, March 14, 2013

Editors' Picks


Video Video: Catholics Speak: Filling the Pews
As the conclave of cardinals in Rome names Jorge Mario Bergoglio of Argentina as the new pope, Catholics from around the world consider how he will increase the size of the church during his papacy.
. Video Related Videos: Modernization | Diplomat | More »

OPINION | Op-Ed Contributors

Death to Whistle-Blowers?


What could be more destructive to an informed citizenry than the threat of the death penalty or life imprisonment for whistle-blowers? 


"My brother cardinals have chosen one who is from far away, but here I am."
POPE FRANCIS, after his selection.
Clamor to Be Spared the Pain as Budget Cuts Descend


The $85 billion in cuts, known as sequestration, have created new alliances and strange bedfellows among lobbyists who are seeking for their projects to be spared.
Obama Rallies Supporters and Donors to Keep His Campaign Agenda Alive


President Obama met with a new group called Organizing for Action, which he hopes will push his agenda but which critics say is an avenue to sell special access to the president.
Witnesses at a Senate panel investigating sexual assault in the military were, from left, Anu Bhagwati of the Service Women's Action Network; BriGette McCoy, who was raped when she was 18 while with the Army in Germany; Rebekah Havrilla, a former Army sergeant who was raped by a superior officer; and Brian K. Lewis, a former Navy petty officer who was raped by a superior.
Veterans Testify on Rapes and Scant Hope of Justice


Military officials who spoke before a Senate Armed Services panel appeared both chastened and defensive.
For more political news, go to »
With Matt Lauer commiserating, the former co-host Ann Curry made a tearful departure from NBC's
At NBC, a Struggle to Revive the Morning Magic


The last year for Matt Lauer, the once-popular host of the network's "Today" show, is a lesson on how a combination of missteps can precipitate a star's fall.
Time Inc. is separating from Time Warner, amid challenges to the magazine industry.
Spinoff of Time Inc. Rattles Employees


After the split occurs, Time Inc. will no longer have the lucrative film and television assets of Time Warner to prop it up.
The Valmont power plant in Boulder, Colo. The city is considering creating one of the first new municipal utilities in years.
Cities Weigh Taking Electricity Business From Private Utilities


Municipalities are showing an interest in creating their own utilities, reflecting concerns about climate change and responses to power disruptions.
. Graphic  Graphic: Private vs. Government Utilities
For more business news, go to »


Inadequate Treatment of Ovarian Cancer


A study that shows widespread failure in ovarian-cancer treatment suggests a need for new ways to help patients and doctors find specialists who can help them.


Awkward Choice in Kenya


Kenya's decision to elect a president charged with crimes against humanity poses a challenge for the West.


Madison Square Garden's Overreach


In order to replace the dismal and inadequate Pennsylvania Station, the massive sports arena should not be given a new lease. It should move.
For more opinion, go to »

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