several hundred people showed up on Parliament Hill to protest the pipeline plans and the growth in the oilsands industry. The demonstration was organized by Greenpeace and other groups who say the pipeline from Alberta to Texas is harmful to the
A statement put out by Ivanhoe Mines on Monday telling investors that its Oyu Tolgoi project remains on track and pooh-poohing rumours about the Mongolian government reneging on the deal that Ivanhoe and partner Rio Tinto spent five years negotiating did little to ease the fears of investors. By lunchtime Ivanhoe had plummeted more than 21.3%, crashing through the $10 billion market valuation level and taking the week's losses to 33%, with the number of shares changing hands already exceeding the daily average. Ivanhoe also appeared to have patched things up with Rio Tinto on Monday after it said last week it's unhappy that the world's number two miner told investors about possible delays to the mega-project.
Gold for December delivery dropped $40, or 2.5%, to just under the $1,600 an ounce level in midday trade on the New York Mercantile Exchange on Monday, but had recovered from sharp losses which saw the metal reach a low of $1,535 shortly after the open. Talk that a bailout for the Eurozone could top 2 trillion euros failed to boost the demand for gold as an inflation hedge. Gold has now declined more than $300 since setting an intraday record of $1,923.10/oz in the second week of September, but is well clear of its year low of just under $1,300/oz and most analysts remain positive about gold's long term trend.
After more than 50 years of investing for long-term shareholder profit, David Christensen, head of ASA Gold and Precious Metals Limited—one of the world's oldest and largest closed-end precious metal investment funds—is seeing some new opportunities emerge.
The leaders of Europe have been criticized for their inability to deal expeditiously with the Eurozone debt crisis. Many view the paralysis […]
During the first financial crisis whereby the like of Lehman Brothers failed we heard the war cry ‘Too Big To Fail’ trotted out by our political masters.
It may not be quite the same as hitting the local ATM, but China is making it easier for consumers to buy bullion. AFP reported on Sunday that the Beijing Agricultural Commercial Bank and a gold trading company have installed China's first gold vending machine in a busy shopping district of Beijing:
Five people were killed on late Saturday afternoon when a shaft collapsed at a coal mine in southwest China, state-run media reported on Sunday. Two others were injured. The accident happened at around 3.20 p.m. local time.
On September 22, 2011, Karen Roche and JT Long of The Energy Report interviewed renowned speculator and financial author Doug Casey on his views about uranium
The unconventional liquid fuel industry, like oil sands and shale oil, is projected to grow 4.6 per year through to 2035, according to the U.S. Energy Information Administration. The government agency released its International Energy Outlook 2011 last week. The report states that geopolitics and regulation will help the unconventional liquid fuel sector sustain growth for the next 20 years and beyond.