MINING.COM

Govt says Massey to blame for fatal blast, falsified safety reports

A coal mine explosion that killed 29 people in West Virginia last year was probably caused by faulty water sprays, badly managed ventilation and built-up coal dust, and could have been prevented, US Department of Labour officials said on Wednesday. Mine and company management were aware that chronic hazardous conditions were not being recorded properly and miners were “intimidated” into prioritising production over safety, administrator for mine safety and health Kevin Stricklin said at a public briefing to mark the one-year anniversary since the Mines Safety and Health Administration started its probe into the accident.

Mining Weekly | June 29, 2011 | 9:07 pm

Crucial meeting on Zimbabwe’s diamond exports and $5bn stockpile ends in disarray

SW Radio Africa reports the seemingly unilateral decision by the chairman of the international diamond trade watchdog to allow Zimbabwe to resume diamond exports has been rejected by among others the United States, Canada and Israel. Some members of the industry body want to keep a ban on exports of Zimbabwe's diamonds which could potentially be worth $2bn/year and include a vast stockpile built up during international sanctions, because of ongoing smuggling out of the rich Chiadzwa fields and reports of sustained human rights abuses there.

MINING.COM Staff Writer | June 29, 2011 | 7:04 pm

How does the Eurozone crisis boost gold & silver?

Over the last year, perhaps the greatest concern of the developed world markets has been the Eurozone debt crisis and its effect on the euro. It has brought into sharp focus the seriousness of a nation’s debt situation. In the last decade, we have blithely accepted that a nation can issue debt and be safe from default.

Julian D.W. Phillips - Gold Forecaster | June 29, 2011 | 6:00 pm

Jim Powell: Meeting the critical metals demand

Is there a clear path to meeting growing global critical metals demand? An important first step, according to Laurentian Bank Securities' Technology and Strategic Metals Analyst Jim Powell, would be to establish supply sources that aren't concentrated in a single country—particularly one that isn't inclined to share its resources with the rest of the world. In this exclusive interview with The Critical Metals Report, Jim points out some potential plays to look for while the landscape is changing.

The Gold Report | June 28, 2011 | 8:20 pm

World number two potash producer says prices may reach $600/tonne by end of year

Reuters quotes the chief executive of Russian potash producer Uralkali telling an investment conference in Moscow on Tuesday that spot potash prices could reach $600 per tonne by the end of the year. Uralkali also said it was considering entering into a transaction with Belaruskali, contradicting a Belarus deputy prime minister who earlier said the $20bn state-owned company was not for sale. A Belaruskali-Uralkali merger would create a group with annual production of 21m tonnes, dwarfing current number one Canada’s Potash Corp.

Frik Els | June 28, 2011 | 7:24 pm

Global gold output to break all-time record set in 2001 next year

Global Industry Analysts, a research firm, predicts global gold production will exceed 2,600 tonnes by next year, a level last reached in 2001, on the back of higher prices and new technologies unlocking resources considered to expensive or difficult to mine in the past.

MINING.COM Staff Writer | June 28, 2011 | 12:00 pm

Xstrata Coal upgrades to multiple leading edge technology PRO3 simulators to strive for best practice

Xstrata Coal has chosen to upgrade its existing fleet of simulators based in the Hunter Valley NSW, Australia to three PRO3 base simulators and a range of equipment modules units from Immersive Technologies. This purchase supports Xstrata Coal’s ‘SafeCoal’ approach which drives the delivery of correct safety skills training to the operator workforce. The new PRO3 simulators enable Xstrata Coal to simulate a range of emergency scenarios with realism without any risk exposure to people or equipment. It is also a useful tool for pre-employment screening, targeted and refresher training.

International Mining | June 28, 2011 | 12:14 am

China factory data roils copper stocks – Freeport down 9%

Chinese miners plunge as reverse-listing contagion spreads

Iron, zinc and coal miner China Natural Resources shed 20% of its value on the Nasdaq stock exchange in morning trade on Monday in the absence of any fresh news about its operations while China Shen Zou Mining lost over 8%, the worst performers in the sector. Investors are continuing to worry about the soundness of Chinese companies that came to the US market through so-called reverse listings with the value of the 98 companies declining sharply in recent weeks as creative accounting and other irregularities are uncovered at firms engaging in operations as diverse as software and timber.

Frik Els | June 27, 2011 | 4:30 pm

What’s the endgame for the Arab spring?

The many “typical” issues with downside potential that markets have been dealing are still some ways away from sufficient resolution to calm markets. One that has slipped off the economic pages, but is still causing much chatter on the political front, is the ongoing movement in the Arab world for changes of government. Though not as up front with the market crowd as when it began, it is still having its impact on markets.

David Coffin and Eric Coffin of HRA Advisories | June 27, 2011 | 3:30 pm

CNN: Peru cancels mine operation after deadly clashes; protesters shut down airport

Operations at the Santa Ana mine in Peru, owned by Canada-based Bear Creek Mining, have been cancelled after violence erupted at the mine on Friday, CNN reported: Following the deaths of five protesters in clashes with police Friday, the Peruvian government agreed to put an end to a private mining project in the southern department of Puno.

Andrew Topf | June 25, 2011 | 6:02 pm