Three lawmakers from President Ollanta Humala’s ruling Gana Peru party resigned on Monday over the government’s handling of protests against -Xstrata last week, warning that social and environmental protests are threatening billions of dollars of mining projects.
At the moment the draft legislation requires mining companies to disclose on a project-by-project basis what they pay local officials in foreign countries.
Canada topped the global mining and metals sector as the number one target destination by total deal value in the first three months of this year, says international firm Ernst & Young.
Gold demand in India, one of the world's leading buyers, is likely to fall by at least 4% in volume in 2012, as higher inflation trims disposable local income, according to the latest research report by Morgan Stanley.
After making a deal to combine with privately-held Absolute Gold last May, GoGold Resources (CVE:GGD) has now filed a NI 43-101 showing the mineral interests it acquired from Absolute are a resource containing 37.1 million ounces of silver equivalent and 741,000 ounces gold equivalent.
Consumers made the most of the dip in the price of bullion and mainland China's gold purchases via Hong Kong hit a record 101.7 tonnes in April, up 62%.
After a dramatic trading day on Friday when gold shot almost $60 an ounce higher, Monday turned out to be soggy affair for the precious metal with no fresh news to drive the market.
The national government should promptly address uncertainties now hounding the mining industry due to the former’s unclear policy towards the sector the Chamber of Mines of the Philippines says.
