Citic Pacific Mining executive chairman Dongyi Hua says "soaring demand for Australian food, particularly beef, among China's 100 million wealthy people could buffer Australia's economy from the effects of an end to the mining boom" particularly given the risk that iron ore prices could fall further.
Effective July 1, 2012, companies and individuals will pay double the value of the corresponding assessment work requirement for Payment Instead of Exploration and Development (PIED).
This was the year for Australia’s mining boom Martin Ferguson hinted on Monday. The Resources Minister highlighted the end of the high commodity prices era that will force the country’s industry to increase its productivity and develop new technologies in order to remain competitive.
About 1.25 million Americans would pay more in taxes next year if President Barack Obama’s latest plan is approved
China plans to diversify iron ore imports and increase the ratio from independent miners to 50%, according to comments made Wang Xiaoqi, vice-chairman of the China Iron and Steel Association.
Solomon has changed exploration focus to tin, signed an option agreement on the Rurembo Property in Rwanda and is set to complete a private placement to raise $500,000.
The Chinese economy logged 7.6% of growth in the second quarter, falling beneath the 8% threshold for the first time in three years, and hitting its lowest level since the first quarter of 2009, when the global financial crisis was still raging.
For the three-month and six-month periods ended May 31, 2012, the company reported net income of $94.2 million and $111.0 million.
The company has found 11.00 meters of 1.09 g/t Au and 580.7 g/t Ag at its Tuligtic project in Mexico.