Hal Quinn, President and CEO of the National Mining Association, testified before Congress today on new legislation that would address America's dependence on critical metals.
Osisko Mining investors were unimpressed by the fire yesterday at the company's Canadian Malarctic mill. The stock (TSX:OSK) closed down a buck, or 12.94%, on the Toronto main board Friday as Osisko assessed the damage.
Rio Tinto may attempt to re-enter the mining industry in Papua New Guinea after a distastrous experience in the 1980s, according to a report this week in PNGIndustryNews.net.
Malaysian News Agency Bernama.com reports that a huge iron ore mine in Bolivia may be doomed as a result of conflicts between the proponent and the Bolivian government.
Despair not, gold investors. Goldman Sachs hasn't given up on bullion. Despite a significant selloff in the yellow metal in recent days, bottoming out at four-month lows, Goldman Sachs is still forecasting a rally in gold this year.
Rio Tinto, the world's third largest miner behind BHP Billiton and Vale, is bullish on the demand for commodities despite renewed volatility in Europe and the risk of financial contagion.
Kinross Gold (TSX:K) took a drubbing in the markets today, along with other major gold producers, as the sector endured an aggressive selloff in the midst of more turmoil in Europe.