Gold slid on Friday, closing its worst week since June, as profit-taking by investors and a spike in the U.S. dollar outweighed the desire for a safer haven. Gold tumbled in early U.S. hours on apparent investor liquidation, but clawed back much of its loss by mid-afternoon as the resignation of European Central Bank policymaker Juergen Stark reignited aversion to riskier assets. But even as US stocks fell nearly 3 percent and other commodities tumbled, gold came under renewed pressure as two weeks of extreme volatility for bullion rattled some confidence in its bull run -- despite the prospect of a second recession.

HudBay Minerals (TSX: HBM)(NYSE: HBM) announced on Friday that it had completed the sale of the Fenix ferro-nickel project in Guatemala to the […]

Engineering News reports: The need for height safety training in the African mining, telecommunications and energy industries is growing, and height safety consulting and training provider Height Wise Training Academy is expanding to meet demand.

“As industries continue to expand, so too will the demand for safety training. Height Wise has distinguished itself as a reputable provider of height safety solutions training, and I believe that the company is in a prime position to gain significant market share, and to establish new training academies across the continent,” says Height Wise director Penny Fabricius.

Rio Tinto will invest US$310 million to assure a sustainable water supply for its iron ore operations in the Pilbara region of Western Australia, ensuring a sufficient resource to accommodate the expansion of annual production capacity up to the planned 333 million tonnes (Mt/a). The coastal water supply project, which involves construction of a new borefield and pipeline system, will be completed by mid-2013, coinciding with the first ore from the planned increase in production capacity to 283 Mt/a.

Bitcoin, a new and private form of currency exchange, got some attention from Paul Krugman in a column who drew parallels between it and gold, finding that both markets are susceptible to underlying problems of "money-hoarding, deflation, and depression." BitCoin, which is well-examined in an article by James Surkowieki, is an alternative form of currency exchange.

Ukraine always has been and always will be a reliable partner for transit of energy to Europe, stated the Ukrainian Minister of Energy and Coal Industry Yuriy Boyko during his meeting with the representatives of the foreign diplomatic corps in Ukraine. "Ukraine has demonstrated its commitment to integration with the European Union in the energy sector by becoming a full member of the Energy Community and carrying out comprehensive work to bring its energy sector in accordance with European requirements," stressed the Ukrainian energy minister.

Billionaire iron ore heiress Gina Rinehart is being sued in the NSW Supreme Court by her daughter, Hope Welker. The nature of Welker’s claim is currently unknown, and Rinehart’s legal team is seeking to keep the matter confidential. Rinehart’s barrister, Alan Sullivan, QC, told the court the application had been made because of “the impact on commercial negotiations”.

China will eventually become a net importer of aluminum but the timing of this shift is uncertain, the chief executive of Rio Tinto Alcan said Thursday.

A new study says the oil sands will boost the economy by two trillion dollars and add more than 900,000 new jobs over the next 25 years.