Gold

Taseko Mines on Wednesday announced it is going ahead with its Gibraltar capital program and is planning to spend $134 million to complete the project by the end of this year. The investment will increase Taseko's share of copper production capacity to 140 million pounds per year. Taseko owns 75% of Gibraltar, located in British Columbia.

Aurizon Mines (TSE:ARZ) was down 1.82% today despite announcing a record year for gold production and strong growth prospects.

According to a report released today on BullionStreet.com, gold dealers in Vietnam are feeling the pinch of export restrictions levied at the end of 2010. Due to regulations regarding the purity of bullion and jewelry, these dealers are being squeezed by a 10% export duty that’s imposed on gold bullion with a purity of 99.99% and gold jewelry with a purity of 80%.

GOLDCORP INC. (TSX: G, NYSE: GG) today announced 2011 gold production and provided production and cash cost guidance for 2012 and the five-year period ending 2016.

Hedge fund genius John Paulson had the worst year of his career in 2011. The FT wonders if he will start dumping gold onto the market in a dash for cash.

Hard Assets Investor reports precious metals ETFs enjoyed solid $5.9 billion inflows last year that brought total assets in the sector to just under $98.5 billion; a figure that represents just under two-thirds of all exchange-traded products including energy and agriculture.

Rural communities in Australia’s mineral-rich states are unhappy about the many working girls following highly-paid miners into their small towns and motel and hotel owners are kicking out prostitutes using their rooms to ply their trade.

Twenty-four mining and oilsands company chief executives are among the 100 highest paid Canadian CEOs.

The Philippine government on Friday ordered the shutdown of 500 small mines threatened by landslides in a southern town where a chunk of a mountain tumbled down on sleeping residents and killed at least 27 people.