The value of Canadian mining and metals deals dropped a dramatic 43% for the first nine months of 2012, revealed Wednesday the latest report by Ernst & Young.
The World Gold Council (WGC) expects India’s total demand for the yellow shiny metal in 2012 to be nearly 19% lower in 2012 than last year, mainly due to low consumption during first two quarters.
Mining and metals companies saw expenditures reach over $140 billion in 2012, but a study published Wednesday by consultants at Accenture (NYSE: ACN) indicates the sum could have been considerably lower.
In an unusual move, Chinese state-owned CNOOC and Canada’s Nexen Inc. (NYSE,TSX:NXY) have resubmitted notice of their potential deal to US regulators, which will reset the clock on Washington’s approval for the $15 billion energy deal.
Canada’s Barrick Gold (NYSE, TSX: ABX) will invest about $2 billion in Argentina next year mainly to advance construction at its massive Pascua-Lama gold-silver project, straddling the border with Chile.