Gold

Shares of Paramount Gold and Silver Corp. (NYSE/TSX: PZG) hit a one-month high of $3.22 on Tuesday after the company released a new resource estimate for its Sleeper Gold Project in Nevada. The NI 43-101 resource estimate, prepared by consulting firm SRK, includes oxide and sulfide materials as well as a small amount of alluvial mineralization.

Montréal, September 15, 2011 – “The new mining royalty regime enables us to attain the objectives that we set, i.e. to obtain from mining companies fair compensation for our natural resources without discouraging investment,” Minister of Finance and Minister of Revenue Raymond Bachand said today at a technical information session held jointly with Minister of Natural Resources and Wildlife and Minister responsible for the Plan Nord Clément Gignac. Minister Bachand indicated that the mining royalties the government collected reached $304 million in 2010-2011, more than double the $133 million originally forecast in the 2011-2012 Budget.

VANCOUVER, Sept. 15, 2011 /CNW/ - In 2011, Canadian mining CEOs are enjoying high salaries on par with 2010's blockbuster year for compensation and there has been a rise in mining CEO millionaires this year, according to the 2011 Mining Industry Salary Survey by Coopers Consulting and PwC. In 2011, the average annual base salary for Canadian mining CEOs was $486,000 in 2011, similar to $480,000 in 2010. Of the 95% of CEOs who were eligible for cash bonuses, 85% reported receiving payouts averaging 76% of their base pay (compared to 88% in 2010 and 61% in 2009) with the highest cash incentive percentage totalling 300% of base pay.

Donald Trump is now accepting payment in gold. A commercial tennant who needed to make a security deposit in one of Trump's New York buildings, 40 Wall Street, paid in three 32 oz. gold bars, equivalent to $176,000. Trump, who flirted with a run for President as the Republican nominee, is a critic of the Obama administration.

For the second time this year workers have downed tools at one of the world's largest copper and gold mines. The Sydney Morning Herald is reporting thousands of workers at Freeport-McMoran's gold and copper mine in eastern Indonesia have begun a month-long strike over a wage dispute: Union spokesman Juli Parorongan said roughly 90 per cent of the Papua mine's 12,000 workers were taking part in the action, which began on Thursday.

According to a recently released WikiLeaks cable, China is shifting some of its massive foreign holdings into gold and away from the U.S. dollar, undermining the dollar's role as the world's reserve currency.

Gold Fields, the world's fourth-largest gold producer, aims to produce one-million ounces of the precious metal per year in South America by 2015, the company's regional chief said on Wednesday.

Peru's leftist government presented a bill to Congress on Wednesday that aims to increase mining taxes to fund anti-poverty projects.

Catholic Online delves into California's fabled gold country that calls to mind bearded prospectors with loaded-down pack mules but is now a bustling tourist community. Today people visit towns such as Sutter Creek, Amador City and Angels Camp to taste wine or to find treasure in the local antique store rather than to pan for gold. This may soon change, as a fully operating underground gold mine is set to open.