Mining majors capitulate as metals rout continues

Kinross Gold was taking more punishment on Wednesday morning after its stock was downgraded and US securities litigation firm Holzer Holzer & Fistel announced it is investigating potential violations of federal securities laws by the miner over gold grades at its Tasiast property. Then at 13:30 the stock popped into positive territory after a single trade worth $72 million went through.

Labour negotiations between BHP Billiton and unions representing coal workers are at an impasse and could disrupt coal operations across Eastern Australia.

In his 2012 State of the Union Address, President Barak Obama called for the end of federal oil subsidies and a doubling of clean energy grants.

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today announced plans to invest approximately $140 million to further expand its coal handling facilities along the Gulf Coast.

A new survey out Tuesday shows South Africa’s appeal for mining investment has declined dramatically since 2006 and the country now ranks a lowly 67th out of 79 countries in the study.

Thomas Drolet, a nuclear expert, warns of a coming uranium deficit as Cold War-era supplies dry up.

The Scotland Herald reports plans to build a $4.6 billion coal-fired power station in the UK with carbon capture and storage (CCS) technology suffered another serious setback this week after the French firm that operates near-by reactors warned that the proposed coal plant endangers the safety of the nuclear facility.

Comex gold and silver futures prices made strong gains in morning trade Monday, with the February gold contract powering to a six week high of $1,679.50 an ounce, up just shy of 1% by midday. Gold is now up over 5% for the year, but still well of the record high above $1,900 hit in September.

While miners and explorers may be hitting the investment conferences looking for funding, NGOs are successfully using crowd sourcing to get projects started.