Despite order books that are full and robust commodity prices, Rio Tinto says that customer sentiment is now more cautious and physical markets are softer than they were six months ago.
Executives from Rio Tinto, one of the world's largest diversified miners, voiced their concerns at an investor seminar in London and New York on Tuesday.
The company is finding that customers are concerned over the health of the OECD economies and persistent volatility in financial markets.
Venezuelan President Hugo Chavez followed through on a promise he made last month to ban the export of bullion under a broad scheme to nationalize the country's gold industry, The Wall Street Journal reports (sub required):
Under guidelines published in the Official Gazette on Monday, the government said "all gold that is obtained through mining activity within national territory will be handed over to the Bolivarian Republic of Venezuela." The decree also gives companies 90 days to form joint ventures for gold mining, in which the government will hold a 55% stake.
Lakeland Resources (TSX-V:LK) was up nearly 30% at the close of trading Tuesday, after the company said it made a new gold discovery on its Midas property in Ontario, Canada.
A 1500-metre drill program returned grab sample values ranging from 2 g/t to 130 g/t, Lakeland said, with one non-assayed sample containing 5.92 g/t gold over 4.70 metres.
FLSmidth has today signed an agreement to acquire the assets of the privately owned company Knelson, a Canada based corporate partnership which is active within the minerals industries.
Knelson develops, manufactures, and installs equipment for the recovery of precious metals such as gold, platinum and silver, as well as the enhanced gravity separation of base metals and industrial minerals with over 3000 installations in over 70 countries worldwide. The customer base comprises all the major gold, platinum and silver mining companies.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Quantum Rare Earth Developments Corp. (TSX VENTURE:QRE)(OTCQX:QREDF)(FRANKFURT:BR3) ("Quantum", the "Company") is pleased to announce Rare Earth Element ("REE") results for the remaining two holes of the spring/summer exploration program at the Elk Creek Niobium – REE Project, located in southeastern Nebraska, USA.
REE results have been finalized for drill holes NEC11-004, located approximately 2.5 kilometres east of the Niobium Deposit; and NEC11-005, located approximately 1 kilometre ENE of the Niobium Deposit.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to report the final assay results for the remaining drill holes from Phase I drilling at the Demirtepe copper-gold-silver-molybdenum project located in western Turkey, where drilling in the Main Zone has consistently intercepted significant shallow mineralization in every hole completed. The most recent assays include the following significant copper-gold-silver and molybdenum intersections
Russia has agreed to develop an Iranian zinc deposit that is among the largest in the world in a deal involving an Iranian bank that faces international sanctions, the Russian business newspaper Kommersant reported on Tuesday. The agreement to develop
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Prophecy Platinum Corp. ("Prophecy Platinum" or the "Company") (TSX VENTURE:NKL)(OTCQX:PNIKF)(FRANKFURT:P94P) reports that as a result of a review by the British Columbia Securities Commission (BCSC), it is issuing the following news release to clarify, retract, restate and update certain of its previously issued technical reports, investor relations presentations and disclosures on its website www.prophecyplat.com.
