Canada’s Gabriel Resources Ltd. (TSX:GBU) became the centre of attention this morning as an important figure of Romania's 1989 revolution, MEP Laszlo Tokes, left his party on Monday over Rosia Montana, a debated gold mine project in north-western Romania.
Indonesia surprised the global mining community last week after a new rule – Government Regulation No. 24 of 2012 – was quietly announced on the mining ministry's website. A growing list of nations – and not just radical fringe territories such as Zimbabwe or Venezuela – are pushing for greater control and ownership of the resource sector on top of higher taxes and royalties.
Gold fell abruptly this morning, pushed by a rising dollar after data showed the U.S. economy created more jobs than expected over the last three months, decreasing prospects the Federal Reserve will keep interest rates low for an extended period.
Canadian miner Mandalay Resources (TSX: MND, MND.WT) resumed operations at its Cerro Bayo project in Chile today, after protestors removed blockades, allowing supplies in and out of the mine.
Mexico’s exploration expenditures are the highest in Latin America, reaching a record high of almost US$1 billion in 2011, says the latest report released by the Metals Economics Group’s (MEG), a think tank based in Halifax, Canada.
Hudbay Minerals (TSE:HBM) rang in the fourth quarter with a $34.3 million profit or 21 cents per share, compared to $7.9 million or seven cents a share at the end of 2010.
