Indian miners risk death for granite tiles and kitchens, report says

Barrick Gold (TSX:ABX) will spend half a billion dollars to expand two of its mines in Peru, Bloomberg reports. Toronto-based Barrick, the world's largest gold miner, says it will invest $$550 million to expand operations at its Alto Chicama and Pierina mines by 2013. Quoting the company's country manager Darrell Wagner, Bloomberg states that the investment will serve to extend the minelives of both mines by four years, with production dropping as reserves are depleted:

China plans to dramatically consolidate the number of mines in its country, according to Caterpillar (NYSE:CAT) and a study by MCCM. And China also wants its mines to be a lot more productive. Caterpillar released the results of a study in August. In 2004 China had 25,000 operating mines. By the end of 2013 China wants to get that number down to 4,000 mines. A minimum production of 300,000 tonnes per annum will be required for mine approval.

Shares in NioGold Mining (TSX-V:NOX) are up 3.28% today on brisk mid-day trading, after the company announced promising drill results from its Marban Block property, located in the Abitibi region of Quebec, Canada. Highlights from 10 new drill holes at the Marban deposit include an intersection at depth of 7.0 grams of gold per tonne (g/t Au) over 10.9 metres (MB-08-053ext) and shallow intersections obtained at the west end of the deposit of 5.9 g/t Au over 15.7 metres (MB-11-195) and 906.2 g/t Au over 2.6 metres (MB-11-198). Map by NioGold Mining Corp.

Mining investments could reach $2.8 billion in the Philippines this year if Chinese investors proceed with plans to jointly develop mining projects in the country, a senior mining official said Tuesday. There is a good chance that an initial target of $1.4 billion could be doubled if Chinese investors follow through in the last quarter on investments they have expressed interest in, Mines and Geosciences Bureau director Leo Jasareno said.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to announce the final 2011 drill results from its Ocelot silver-lead-zinc discovery. The Ocelot is located within the Rau Trend in the western portion of ATAC's 100% owned Rackla Gold Project in the Keno Hill Mining District, Canada's second largest primary silver producer. The 2011 diamond drilling program consisted of 19 holes totaling 3784.75 m. The first five holes returned encouraging results near surface (see news release dated June 13, 2011).

Vista Gold (AMEX:VGZ) had no comment on why its share price jumped on Monday. Shares were up from $3.70 on Friday to $4.41 by the end of Monday, a 19% gain. "Vista Gold Corp. ("Vista" or the "Company") (TSX & NYSE Amex Equities: VGZ) announced today that as a result of unusual market activity in the Company's common shares on September 12, 2011, the NYSE Amex contacted the Company in accordance with the NYSE Amex's usual practice and requested that the Company issue a public statement regarding the unusual market activity. The Company states that its policy is not to comment on unusual market activity," said the company in a news release.

COLORADO SPRINGS, CO--(Marketwire - Sep 13, 2011) - Gold Resource Corporation (NYSE Amex: GORO) extends high-grade Arista deposit mineralization outside of the deposit's previously drilled mineralized envelope including 7.6 meters of 9.92 grams per tonne (0.32 oz/tonne) gold and 129 grams per tonne (4.15 oz/tonne) silver. In addition, confirmation drill returns include 5 meters of 20.28 grams per tonne (.65 oz/tonne) gold and 559 grams per tonne (17 oz/tonne) silver. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico. The Company has returned over $24.6 million to shareholders in monthly dividends since declaring commercial production July 1, 2010.

Bloomberg reports gold may decline to below $1,700 an ounce in September before climbing to an all-time high of $2,000 in October as the metal extends its longest rally in at least nine decades, according to technical analysts. The Wall Street Journal reports market participants expect volatile trading in gold to continue this week, as traders look to what may be contentious debate on US President Barack Obama's proposed jobs and infrastructure program and as traders take positions ahead of the meeting of the Federal Reserve's policy-making committee next week.

Gold for December delivery – the most actively traded contract – fell 2.4%  or $45, to $1,815 an ounce on the Comex division of the New York Mercantile Exchange by lunchtime on Monday failing to capitalize on its safe-haven status as investors were forced to raise cash to cover losses on equity markets. The benchmark Dow Jones Industrial Average suffered another day of heavy selling, declining more than 120 points in volatile trade while European and Asian markets were battered after the deputy finance minister of Greece said the debt-laden country has cash to operate only until next month. Germany was readying measure to protect its banks against a Greek default while France's financial institutions were downgraded because of its exposure.