Silver prices surged to 3.4 percent, to $34.865 an ounce. China's net imports of silver nearly quadrupled to more than 3,500 metric tons in 2010, boosted by sharp increases in demand by the industrial sector and the jewelry industry.
According to the statistics released by the Ministry of Energy and Mining of Peru, this country produced 5,565 tonnes of Mo in molybdenum concentrates in the first 4 months of 2011 which had a substantial increase of 17.45% compared with that in the same period of 2010.
Nickel is projected to be in a surplus over the next year and a half, as weak stainless steel demand has caused cuts in production. There are supporting factors as the market heads for its bottom.
Rising gold prices are helping to bring mines on-stream in Northern Ontario, though this profitability is still at least partially dependent on many other fundamental factors such as infrastructure, solid mineralization, community involvement and favourable environmental impact assessments.
Copper rose Tuesday, on the back of an agreement by French banks to rollover Greek debt. France introduced a “creative” solution to the Greek debt-crisis on Monday, suggesting that banks roll over some Greek debt for 30 years, in order to help the struggling economy avoid insolvency.
CBC News reported that Western Potash Corp. (TSE:WPX) is interested in buying wastewater from Regina.
The market news is quoted as saying:
The mine, which hopes to begin production in September, 2015, would need about 200,000 litres a day for at least 40 years.
Global BC reported that Canada’s federal government had documentation to indicate that selling Potash Corp. (NYSE:POT) to BHP (NYSE:BHP) could cause the government to lose revenue.
The market news is quoted as saying:
Premier Brad Wall, who waged a high-profile campaign to block the deal, has estimated the province would lose between $3- to $6-billion in revenue over the course of a decade if PotashCorp were sold.
A significant base may be forming in uranium stocks — seen in the Global X Uranium ETF (URA) — as Japan’s troubled nuclear energy industry passed its first major vote since the Fukushima tragedy. Many of the stocks that make up this ETF are down more than 40% such as Uranium Resources (NASDAQ:URRE) and Uranium Energy Corporation (UEC). But positive news is beginning to reemerge after three months of naysaying. Fukushima is proving nuclear is here to stay.
Capital Mining (ASX:CMY) announced that initial drilling at the Mundaerno South project in South Australia has indicated uranium and vanadium mineralization.
The press release is quoted as saying:
Capital Mining said the drilling has provided valuable new information about the geology and prospectivity of the area, which puts follow up exploration on a sound footing.
![[Click here for an interactive chart of copper prices]](https://www.mining.com/wp-content/uploads/2011/02/copper-cathodes.png)
