Venezuela's President Hugo Chavez’s easy re-election has given him another six years as the head of the oil-rich South American country. It has also given mining and oil companies another reason to look for greener pastures.
Canadian Timmins Gold Corp. (TSE:TMM) said Tuesday it produced 25,153 ounces of gold from its San Francisco mine in Sonora, Mexico, in the third quarter. This represents nearly 49% more than a year earlier.
First ore from the massive copper-gold-silver mine is expected to be processed within six weeks of China and Mongolia signing the final power agreement.
South Africa's Gold One followed Amplats example and fired Tuesday 1,435 of its 1,900 Ezulwini employees in South Africa, after a week-long illegal strike.