A legal clash between Brazilian mining giant Vale (NYX:VALE) and Australia's Aquila Resources (ASX: AQA) has taken a step towards resolution this morning after the companies announced they’ve reached an agreement on coal shipments from their co-owned Isaac Plains mine in Queensland.
“Sentiment towards gold is as low as it has been for many years, possibly since the rally started. ... For virtually the first time this cycle, buying gold is a contrarian trade.”
Coal Rush, a documentary running next week at the Atlanta Film Festival, tells the story of a 7-year crusade by US attorney Kevin Thompson, along with other attorneys, advocates and affected residents, to halt the injection of coal slurry into the Appalachian mountains by now-defunct coal miner Massey Energy.
EU regulators are stepping up scrutiny of the mooted $90 billion merger of the commodities trader and coal giant and the whole vetting process could take until early 2013. That is if the deal goes ahead at all.