Silver

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.

Sooner or later shortage in physical silver will trigger a price move up.

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.

Despite a healthy economic growth, Canada’s economy lost 2,800 jobs in February, with at least 18% of those positions belonging to the mining sector.

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.

Major Drilling posted quarterly revenue of $182.2 million, up nearly 70% from the $107.7 million recorded for the same quarter last year. This represents the highest level of third quarter revenue in the Company's history.

Latin America remained the most popular exploration destination, attracting 25% of global explorations spending in 2011, said to the Halifax-based Metals Economics Group's World Exploration Trends report released on Sunday.