The big talk these days is of the debt ceiling in the US having to be raised. The US is lucky they can do this unlike other countries such as Spain, Portugal, Greece, Ireland and others who need to be bailed out or pass huge austerity measures.
The federal government's carbon tax will jeopardise the reliability of Victoria's power supply, drive energy prices higher and cost jobs, the state government says.Premier Ted Baillieu said the tax was a direct threat to the state's electricity supplies,
Codelco managed to quickly settle a 24-hour strike that flared up earlier this month, but more labour unrest may be on the way in Chile, according to risk analysis firm Exclusive Analysis.
It also said in a statement that the strike was illegal and it was hoping to bring in measures to allow workers who wanted to return to their jobs to do so. "The situation has not normalized despite the undertaking that was made ... between the company
Shares in Canada’s Bear Creek Mining Corporation bounced by over 4% at the open on Wednesday after the company announced it was launching legal action against the Peruvian government to regain its license for a mining concession in the south of the country. Peru cancelled Bear Creek’s licence in late June after protests against the Santa Ana Silver project resulted in five people being killed by police at an international airport 160km away from the site. Bear Creek’s injunction comes weeks ahead of the swearing in of the South American nation’s new leftwing president Ollanta Humala (pictured).
Gold futures added to record levels set earlier on Tuesday as Europe finance ministers consider allowing Greece to default on some of its debt, Italy's borrowing costs soar and US Federal Reserve minutes indicate the possibility of additional financial stimulus. Gold is considered a hedge against inflation and further quantitative easing could flood financial markets with cheap money as it did in the previous round – QE2 – when US monetary authorities injected some $600bn to drive down interest rates. Gold for August delivery on the New York Mercantile Exchange was trading at $1,568.40 an ounce in late trade after settling at a record $1,562.30 an ounce earlier.
Following Friday's disappointing jobs data and a big jump in Chinese inflation over the weekend, Jim Rogers, the CEO and Chairman of Rogers Holdings, told CNBC that no matter what happens to the global economy, he will make money with his commodity positions.
Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017, the region's jobs minister said on Monday.
LONDON - Chronic labour shortages in Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017, the region's jobs minister said. "I genuinely think that if you do
Euro-denominated gold extended its gains to hit a fresh record high on Monday as growing concerns over the Eurozone debt crisis fuelled interest in the metal as a haven from risk while pressuring the euro sharply lower against the dollar. Gold priced in euros almost hit €1110 an ounce after trading as high as €1,104.15 an ounce late Friday.