On August 23, military chief Henry Rangel Silva revealed that over 40,000 hectares of land had been recovered and 15,000 people freed from conditions of “slavery” as part of Plan Caura, the Venezuelan government’s anti-illegal mining project.
Chen Lin stumbled into investing. While working on a doctorate at Princeton, he turned $5,411 in his wife's retirement account into $1.5 million. In his newsletter, What is Chen Buying? What is Chen Selling?, Lin shares the fruits of his analytical aptitude. In this exclusive interview with The Gold Report, Lin reveals his latest finds in undervalued gold miners, and why he has high hopes for silver, too.
Today many governments are looking at ways to get more money from miners as companies report record profits. The higher the returns and the higher the profits, the greedier governments become. As commodity prices rise governments try to boost their share of the proceeds from their countries energy and mining sectors.
Ten people were confirmed dead and three others injured in two unrelated coal mine accidents on Thursday in east China, local authorities said.
Australia Global Trading has formed a strategic alliance with CLLEEN™ Water and Power, a water treatment company based in Texas, USA, to introduce this new method of processing to the Australian resources sector. The technology will reduce costs in producing potable water, treating waste water, as well as reducing maintenance and operator costs for oil, mining and gas sector operations.
The economic consequences of the Supreme Court ban on mining in Bellary are beginning to be felt in thousands of homes in Karnataka as their primary bread winner is facing an axe or has already been pink-slipped. More than 30,000 people working for mining and steel companies are jobless. Another 15,000 workers employed in over half-a-dozen steel companies and 77 other related-industrial units face layoff threat as their companies face an acute shortage of raw materials (iron ore).
ABB, the leading power and automation technology group, has won an order from Newmont Mining Corporation to deliver three gearless mill drive (GMD) systems for installation at Yanacocha_s Conga copper/gold project in Peru.
Gold futures hit another record high of $1,898.60/oz on Monday, despite a recovery on global stock markets following one of the most volatile weeks in trading history. The precious metal rose by more than 6% last week, the most since February 2009. So far this year bullion has gained roughly a third in value. Gold's allure as an inflation hedge was boosted by renewed talk that policy-easing initiatives would be unveiled by the US Federal Reserve on Friday at an annual gathering of central bankers. A round of asset purchases that eventually became known as “QE2” were unveiled at the meeting last year.
The news this week has been mainly bad: more crashing stock markets, more idiotic statements from Republican hopefuls, more countries seizing the mines of the country. The saddest part is that the only idea Republican hopefuls have about resuscitating mining in the US is to abolish the EPA and treat companies like individuals.
While there is disagreement over the near term direction of the gold price, former and current chiefs of Goldcorp, the world's number two gold miner, almost agree on its longer term prospects.