The copper-uranium-gold-silver project has a 100 year mining life, so a glitch this year was unlikely to sway a company that thinks well ahead, the CEO of the Olympic Dam Taskforce said Tuesday.
Mbada Diamonds has produced almost 12 million carats worth half a billion dollars over the past one-and-half years after injecting total investments of only $185 million, Parliament was told yesterday.
In what it seems a move towards exiting the aluminum wire business, diversified miner Rio Tinto (LON & NYSE:RIO) announced it is selling its U.S.-based wire and cable business Alcan Cable to American company General Cable (NYSE: BGC) for $185 million.
“People were beginning to believe that gold can stand up against all crises, but the last six months proved that theory wrong.”
SFMI projects from financial calculations a profit of $4,500,000 from gold and silver being generated from processed tailings at the Diamond Creek Milling facility.
Ormet announces a $1.1 million net loss for the first quarter of 2012. This compares to a net income of $5.5 million for the same period of 2011.
Stricter environmental rules on new mining projects, combined with soaring labour costs, are making Vale SA, the world's leading iron ore exporter, less competitive against Australian rivals Rio Tinto and BHP Billiton.
While it might not look like it now, the most investable trend over the next 20 years is going to be in the resource sector, the renewable and non-renewable resources, the minerals, ores, fossil fuels and biomass a wealthier and growing global population is increasingly demanding from finite supplies and already strained production capabilities.
Laurence Graff, the undisputed king of uber-expensive diamonds, will earn a tidy $290 million windfall when he restructures his Mayfair-based company and will vastly boost his paper wealth when Graff Diamonds lists in Hong Kong for as much as $4 billion.
In an interview with Louis James, John Hathaway discusses the US's economic outlook and why he's delighted by the current bearish sentiment toward gold.