Ignace likely home for iron ore processing
The privately-held, First Nation family-owned company wants to develop an open pit mine which will create 700 construction jobs within two years and 300 permanent mine and processing jobs.
The privately-held, First Nation family-owned company wants to develop an open pit mine which will create 700 construction jobs within two years and 300 permanent mine and processing jobs.
Bloomberg reports gold may decline to below $1,700 an ounce in September before climbing to an all-time high of $2,000 in October as the metal extends its longest rally in at least nine decades, according to technical analysts. The Wall Street Journal reports market participants expect volatile trading in gold to continue this week, as traders look to what may be contentious debate on US President Barack Obama's proposed jobs and infrastructure program and as traders take positions ahead of the meeting of the Federal Reserve's policy-making committee next week.
Alaska's Pebble deposit presents big problems for Northern Dynasty, the junior Canadian miner that wants to cash out of its sole asset. Pebble has an eye-popping recoverable resource of 67 million ounces of gold and 55 billion pounds copper with some molybdenum thrown in for good measure which at today's prices is worth over $300 billion in total. The Vancouver company shares the venture with Anglo-American but the $4.7 billion development costs could be too rich even for the London-listed giant's blood. Apart from the problem of finding a heavyweight buyer for its 50%, Dynasty also faces opposition from a $150 million a year salmon fishery near the site and local environmental protesters who have enlisted the support of Hollywood celebrities like Robert Redford.
The exciting tech sector of yesterday will pale in comparison to the precious metals sector of tomorrow, say Chris Marchese, portfolio strategist with a hedge fund under Vishni Capital, and Jason Burack, independent investor and creator of Wall Street for Main Street. In an exclusive interview with The Gold Report, they share their analysis of one last solid-gold—and silver—investment frontier.
A new study says the oil sands will boost the economy by two trillion dollars and add more than 900,000 new jobs over the next 25 years.
Authorities in Belgium are investigating a case that may turn out to be the country's largest ever fraud. De Tijd this week published some of the names from a list of 170 of Antwerp diamond traders who it claims are being investigated by authorities for spiriting almost $1 billion (€700 million) in unpaid taxes into secret Geneva bank accounts. Approximately 80% of the total world production of rough diamonds is traded by the 185 gem companies operating in Antwerp (pictured) and 50% of the globe's polished diamonds pass through the Flemish town. The Antwerp traders are among a much larger roster of at least 24,000 HSBC Private Bank clients from Canada, India and Germany under investigation by French authorities since 2009.
HOYT LAKES, MINNESOTA--(Marketwire - Sept. 7, 2011) - PolyMet Mining Corp. (TSX:POM)(NYSE Amex:PLM) ("PolyMet" or the "Company") today reported its financial results for the three months ended July 31, 2011, which have been filed at www.polymetmining.comand on SEDAR and EDGAR. The financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS"). All amounts are in U.S. funds.
The price of December gold – the most actively traded contract – dropped by almost $80 to trade below $1,800 an ounce on Wednesday morning. By midday bullion had regained some of its footing but was still down just over 3% or $56.60, at 1,816/oz in New York as traders banked profits. Gold has declined $120 in less than 24 hours after setting an intraday record of $1,923.10 an ounce on Tuesday. During August the metal added 12% as investors sought a safe haven from the slumping US economy and the continuing debt crisis in Europe. Despite the losses many analysts believe gold will hit $2,000 an ounce soon as talk of another round of monetary stimulus or a direct injection into the economy as part of a jobs programme lead to more cheap money entering the financial markets.
Kivalliq News Online: The Kivalliq Mine Training Society, which provides Inuit in the Kivalliq with mining skills, knowledge and experience, will lose Canadian government funding in 2012, and Prime Minister Stephen Harper has made no mention of continuing it.
In the year and a half the society has been operating, more than 680 Inuit have been trained, 350 of which have gained meaningful employment in mine-related jobs. "A renewal of the Aboriginal Skills and Employment Partnership Program or the development of a program of similar nature is an essential step in protecting that training," stated Geoffrey Qilak Kusugak, the mine training society's chair person.
Market watch top headlines Australian reports Aust markets: Aust stocks lower ahead of US jobs data Aust dollar report: $A steady at noon ahead of US jobs data Aust credit close: Aust bonds firm ahead of US jobs data World reports World commodities: