Posts by Mineweb:

Cameco, Uranium One shares fall on Germany’s nuclear decision

Shares of top Canadian uranium producer Cameco (CCO.TO: Quote) slipped as much as 4.4 percent on Monday, after Germany said that it plans to shut all its nuclear reactors by 2022. The move to shut down its nuclear program comes just nine months after Berlin announced an extension to the lifespan of its plants by an average 12 years.
Mineweb | May 31, 2011 | 3:13 pm
Hard hat Ethiopia mining

Ethiopian Potash share price soars, but on what?

Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.
Mineweb | May 31, 2011 | 2:52 pm
Gold panning mining

Azumah strengthens Australian links in Ghana

Azumah Resources Ltd (ASX: AZM) said today it has secured an 11% stake in Castle Minerals Ltd (ASX: CDT) through a holding of 11.081 million shares. Azumah's managing director Stephen Stone said the company viewed the holding as a strategic investment that would increase Azumah's options should any of the growing market-based speculation about consolidation in the West African gold sector unfold.
Mineweb | May 31, 2011 | 1:48 pm

Chinese, Indian coal demand to surge by 2015

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.
Mineweb | May 31, 2011 | 1:40 pm

Indian investors bail out of silver

Silver appears to have lost its shine for most investors in India, with many preferring to transfer funds from the white metal to the dollar and even the equities market. Traders and analysts say that most investors are a bit skittish because of the metal's wild price swings and are wary of global concerns that could dull its shine.
Mineweb | May 31, 2011 | 10:43 am

Commodities boom drives economic growth in several Canadian provinces

A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces. The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."
Mineweb | May 30, 2011 | 1:50 pm

Resourcehouse launches $3.6bn IPO in Hong Kong

Australian mining company Resourcehouse, controlled by billionaire Clive Palmer, launched its planned $3.6 billion Hong Kong IPO on Sunday, betting on rising coal prices to attract investors to its large initial public offering. The company, which is raising funds to develop thermal coal and an iron ore project, has received positive feedback during meetings with investors since it started road shows almost two weeks ago, despite volatility in global commodity markets.
Mineweb | May 30, 2011 | 1:36 pm

Australia warns resources firms to be vigilant for cyber attack

Australia's government urged companies on Monday to tighten vigilance over cyber attacks launched offshore against some of the world's biggest resource firms and other businesses, warning high-tech threats were intensifying. Lockheed Martin Corp , the U.S. government's top information technology provider, raised concern about cyber hacking at the weekend, complaining of a pattern of frequent attacks on it from around the world.
Mineweb | May 30, 2011 | 1:31 pm

Gold hedging beginning to increase again?

One of the contributors to the low gold prices of the 1970s was substantial hedging of forward output by mining companies, either as corporate policy, or at the insistence of lending institutions who wished to protect their positions should the price fall further. Conversely, a contributor to the rise in gold prices over the past few years has been very substantial de-hedging by, in particular, the gold majors, which has effectively soaked up some gold demand, as belief grew that the run up in the gold price had much further to go.
Mineweb | May 30, 2011 | 1:23 pm

NV Senate votes to eliminate net proceeds of mine taxation cap

With the vote of two Republicans who crossed party lines, the Nevada State Senate approved Senate Joint Resolution 15, which will eliminate constitutional caps on Nevada's net proceeds of mines tax. Two Republicans, Sens. Ben Kieckhefer of Reno and Michael Roberson of Las Vegas, joined Senate Democrats in voting for the resolution, which now goes to the Assembly.
Mineweb | May 30, 2011 | 1:19 pm