The current knockdown in prices offers an amazing opportunity to accumulate physical gold
The global economy is faltering and the world’s monetary system is looking exceedingly precarious, yet the price of gold has plunged in […]
The global economy is faltering and the world’s monetary system is looking exceedingly precarious, yet the price of gold has plunged in […]
The Blue Mountains Gazette reports the Australian Coal Association says $1.3 billion in proposed government compensation would delay by only one year the premature closure of four of the 21 mines that an industry survey found were under threat from the government's carbon tax. On top of the carbon tax set to kick in mid-2012, Australian miners also have to contend with the new minerals resource rent tax set at an effective 22.5% rate on the so-called super-profits of the extractive industries.
Ivanhoe Mines said in a statement today that the investment agreement for the Oyu Tolgoi Project remains a fair and legally binding contract that deserves and requires the unqualified support of all parties. Media reports during the weekend quoted Mongolia's Mineral Resources and Energy Minister D. Zorigt as indicating that Ivanhoe Mines and Rio Tinto would receive a letter from the Mongolian government asking the companies to consider entering into discussions to address a possible change to the investment agreement. A reported potential proposed change would see acceleration of the government's right to increase its current 34% interest in Oyu Tolgoi to 50% by purchasing an additional 16% at fair market value at some future point, after Ivanhoe Mines and Rio Tinto recoup their capital investments in the project.
Earlier this week the Federal Reserve ignited a firestorm in the global markets by admitting that the U.S. economy is facing significant downside risks.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Canadian Zinc Corporation (TSX:CZN)(OTCQB:CZICF) is pleased to report that the Mackenzie Valley Review Board ("MVRB") has officially closed the public registry for the Environmental Assessment on the Company's Prairie Creek zinc/silver/lead mine in the Northwest Territories, Canada. The closure of the public registry on September 22, 2011, marks the completion of the technical information and reports, public hearings and comment, and submissions stages of the Environmental Assessment.
If you haven’t paid much attention to global markets this week, here’s what you missed…fears that the global economy is dangerously close to a recession due to the financial crisis in the eurozone and flatlining growth in the U.S. sent assets of all shapes and sizes into a tailspin.
The election of Michael Sata to president of Zambia is not sitting well with copper miners who fear the 73-year-old, known as "King Cobra" for his aggressive style, will pick the pockets of mining companies, Bloomberg reports. Sata swept to power this week on a promise to create jobs and to extract more money from the mining industry in Zambia, Africa's largest copper producer. His win on Sept. 20 ends two decades of rule by the Movement for Multiparty Democracy.
As commodities prices including precious metals were plummetting Thursday on more bad economic news, the Premier of British Columbia provided a glimmer of hope for the BC mining industry. In unveiling the province's job-creation strategy, Clark said the government plans to capitalize on high demand for minerals, especially in Asia, by opening up eight new mines in the next four years and expanding nine more by 2015.
If dollar-dumping turns from a trickle into a flood, look out.
The demand we are now placing on our planets resources appears to have begun to outpace the rate at which they can be supplied.