Eight of Barrick Gold's Australian subsidiaries have received fines totaling AUD$127,000 for failure to lodge required documents with the Australian Securities and Investments Commission (ASIC).
Over 10,000 of environmentalists took the streets of Raub, in the Malaysian state of Pahang on Sunday, to oppose the use of cyanide at the nearby Bukit Koman gold mine, which they claim has been using the chemical compound to the detriment of their health.
Is the great gold rush over? The price of the precious metal has soared over the last decade, jumping from below $300 (£189) in 2001 to peak at $1,920 (£1,211) in September 2011. But, since then, it has fallen to around $1,660 (£1,047) defying predictions – and the hopes of speculators – that it would continue to hit new peaks during the ongoing financial turmoil.
The Peruvian government confirmed it will end Monday a state of emergency imposed in early July in the country’s northern region, where violent protests against Newmont Mining's (NYSE:NEM) controversial $4.8 billion Conga project left five dead and dozens injured.
Colombia’s energy and mining minister Federico Renjifo, who assumed the position on Thursday, said he is aware he’ll face difficult times as analysts are predicting a slowdown in demand for the country’s commodities in coming years, but he said he’ll make sure the sector remains competitive and attractive to foreign investors.
Mining workers dissatisfaction in South Africa has now hit the country's second-largest gold producer, Gold Fields Ld. as about 12,000 employees downed tools at the KDC mine, on Johannesburg's West Rand.
India is already building a rare-earth mineral processing plant in the east coast state of Orissa and will invest $135 million in a new exploration ship and the refurbishing of another vessel to mine minerals under its oceans.
