Posts by Mineweb:

Xstrata bidding for Canadian coal explorer

Major miner Xstrata is making an agreed $153 million bid for Canada's First Coal Corporation which owns coking coal exploration leases in British Columbia Miner Xstrata has made an all-cash bid for privately held Canadian miner First Coal Corporation, it

Escondida strike buoys copper prices but markets nervous on global demand

London copper futures rose for a second day on Wednesday as supply worries brought on by an extended strike at the world's largest copper mine countered concerns over protracted talks in the United States to lift its debt limit. But the thin trading volumes in Asian hours and modest gains suggest investors were far from aggressive in pushing up copper prices, now trading just around 3 percent away from historic highs, given a shaky outlook for global demand. Satellite image of Escondida Mine in Chile

Inflows into precious metals ETFs roaring back

While commodities ETFs - led by precious metals funds like the SPDR Gold Trust (GLD) and the iShares Silver Trust (SLV) - are hot, currency ETFs are even hotter. Flows into 38 U.S.-listed currency ETFs this year stood at $2.2 billion through last week, according to a new review of fund flows by ConvergEx Group.

Avocet buying back its gold hedge book

UK-based West African gold miner, Avocet Mining says it has bought back 20% of its gold hedgebook to take advantage of anticipated higher gold prices. West African-focused Avocet Mining said it bought back 20 percent of its gold hedge book to give it

Harmony preparing for possible strike

Harmony Gold Mining Company Limited said that following wage negotiations with the trade unions (National Union of Mineworkers (NUM), Solidarity and UASA) a deadlock was declared yesterday.

Inmet board approves development of Cobre Panama copper project

The Inmet Mining Board of Directors has approved the development of the Cobre Panama copper-gold-molybdenum project in Panama. As a result of the development decision Monday, LS-Niko Copper subsidiary, Korea Panama Mining Corp. (KPMC) has to decide whether to exercise its option to acquire a 20% interest in Minera Panama within 60 days. Image of the Cobre Panama copper project by Inmet Mining