Despite being in a bull market for the past decade, precious metals are still widely under-owned by historical standards. The percentage of wealth held in gold and silver today fails in comparison to the last bull market thirty years ago.
Eric Sprott announced that his company has $200 million committed to his self-named Sprott Physical Silver Trust, and the announcement will help silver, which has been in the "doldrums."
BHP's board was to make a decision on the $30 billion project this year, but a newspaper report over the weekend said a decision will not be made until 2014 and BHP's uranium division "confirmed the deferral and said a recruitment freeze was now in place".
Australian exploration and mining firms are readying themselves for forays into Myanmar following the end of decades of military rule earlier this year and the country's opening up to foreign investment.
Hecla Mining Company (NYSE:HL) has made an all-cash offer for U.S. Silver Corporations (TSX-V:USA) in a bid to scupper its proposed merger with RX Gold & Silver (TSX-V:RXE).
Faced with never ending environmental and social conflicts over mining projects, Peru's President Ollanta Humala decided yesterday to reshuffle his Cabinet… again…for the third time.
The diversified miner suffered lower realized prices across the board with copper down 14% to $3.57 a pound, its realized coal price was 26% below Q2 2011 at $202 a tonne. Zinc (-15%), silver (-24%), lead (-22%) and molybdenum (-18%) prices all declined.