Glencore’s Dominican mine saved by the President

Australian uranium producer, Paladin Energy, announced that its U3O8 production was 15% lower due to planned shutdowns and unscheduled remediation work. The company's stock declined 4.15% to $1.50 after Paladin announced on Monday its quarterly report for the three-month period ended September 30, 2011 The company did have record sales of 2,001,673lb U3O8, which generated revenue of US$102.74M. The average sales price for U3O8 was US$51.33/lb.

This University of Leicester picture shows Nyree Hill, PhD Research in the Department of Geology. University of Leicester geologists are applying new scientific prospecting methods. Scotgold Resources has just won planning permission to open Scotland's first gold mine since gold was mined 500 years ago at Leadhills to make the Scottish crown jewels. Now the University of Leicester is involved in the search for the next natural treasure trove. Over the next decade or so, it is planned that the Cononish deposit near Tyndrum in the Scottish Highlands, will produce 20,000 oz gold and 80,000 oz silver each year. After that, though, the currently known resources will largely be worked out. Therefore research being undertaken at the University of Leicester, in conjunction with Scotgold Resources and in collaboration with researchers at Aberdeen & Glasgow Universities and the British Geological Survey, will be key to finding the next gold mine. If successful, employment and the local economy - and income for the UK - can be sustained beyond the lifetime of Cononish. University of Leicester PhD student, Nyree Hill, explained: "The problem is that gold is found scattered throughout the Scottish Highlands, but so far none has been found as concentrated as at Cononish. This is despite the Highlands being one of the first areas in the world to be studied by geologists. One explanation for this is the challenging climate and mountainous terrain, and also much of the rock is buried by glacial deposits." The gold at Cononish has ancient roots. Before the Atlantic Ocean opened, the Highlands formed part of a mountain belt that extended from Canada through Ireland and Scotland into Scandinavia. This mountain-belt formed as the Iapetus Ocean, a fore-runner of the Atlantic Ocean, was destroyed by the collision of tectonic plates half a billion years ago. This joined Scotland and England together as we know it today. The gold was concentrated, deep underground, as rising granite magma heated water, which circulated through large faults. That hot water, at 100s of degrees Celsius, carried gold, silver and other metals, and deposited them, with quartz, into veins. The process, repeated time and again, brought the gold to economic levels. Hill is examining rocks from a series of new targets close to Cononish in order to identify key ‘fingerprints' for gold mineralisation. She said: "Traditional exploration strategies look at how gold is related to other metals and minerals. However, my study is using detailed chemistry of the gold and associated minerals to map the pathways through the rock along which the gold-bearing fluid flowed." "Applying this approach will help identify future targets and maximise our chances of finding the next Cononish." Dr Gawen Jenkin, Senior Lecturer in Applied Geology at the University of Leicester, said: "The go-ahead for mining at Cononish will galvanise exploration activity across the Scottish Highlands - a mini gold-rush perhaps - meaning that Nyree's work will be of wide application. I was involved in the early work to understand how Cononish formed and was therefore very keen when asked by Scotgold to be involved with their current exploration program."

The UK's Telegraph reports two hundred wealthy Democrats were paying $5,000 a head this week to have lunch with Barack Obama – up to $7,500 if they also wanted their pictures taken with him – at San Francisco's posh W Hotel. Outside it was very different – some of the party's biggest donors were protesting. There is increasing bitterness on the left about Obama's perceived closeness to industry and what they see as his failure to honour environmental promises. Like the San Francisco protesters many former campaign donors are now threatening to withdraw financial support if he fails to block the Keystone XL oil pipeline and putting off the decision – hinted at by the US State Department this week – should not come as a surprise to anyone following Obama's poll numbers..

Arabian American Development Co, announced over the weekend it has completed construction of the gold, silver and copper mine in Saudi-Arabia which it is developing with Saudi's Al-Kobra Mining Company (Amak). The Texas-based company, which owns 37% of Amak, said it will turn the facility over to the Chinese surface operator to begin operations end-November. In July Arabian American Development got a $37m injection from a fund controlled by the League of Arab States. Shareholders in the Nasdaq-listed company saw the value of their investment rise a cool $107m as a result of the transaction and over the last month stock in the 44-year old company has risen 28.5%. The mine in a Yemen border province is the only non-government mine in the Saudi kingdom and is scheduled to begin production early next year.

Reuters reports unionised Chilean workers at Collahuasi, the world's third most productive copper mine, halted production on Saturday in a strike demanding a wage bonus, but were back at work on Sunday after after reaching an agreement with management, the company and union said. Collahuasi is owned by Switzerland's Xstrata and the Britain-based Anglo American. Collahuasi produced 504,000 tonnes of copper in 2010, when output was hit by a month-long strike. The mine expects to produce 500,000 tonnes of copper this year. It supplies roughly 3% of the world's copper, half that of Chile's other giant copper mine Escondida.

The regulatory process for Enbridge’s Northern Gateway pipeline to connect Alberta's oil sands and markets in Asia, is shaping up to make the TransCanada's Keystone XL approval look like a cake walk. Starting in January, an unprecedented 4,000-plus people – the vast majority environmental activists – will speak for a collective 650 hours at public hearings on the controversial pipeline that would stretch for 1,170km from Brudenheim in Alberta to a new marine terminal at Kitimat in northern British Columbia, Canada. The project is already almost a year behind schedule and would not go into operation in 2017 at the soonest.

The Guardian reports the approval for Britain's only commercial goldmine despite opposition from environmental groups has sparked fears for the Loch Lomond and the Trossachs National Park national park. The mine is around 1 kilometre inside the park boundary. It was the second time Sydney-listed mining company Scotgold had applied to mine gold and silver at the Cononish site, which it bought in 2007. It was turned down last year over concerns about waste – 400,000 tonnes will be produced over the mine's 10-year life – and rehabilitation. At current prices, Scotgold believes there could be around $275 million of the precious metals at the site and it could start producing ounces early in 2013.

The Manawatu Standard reports giant Chinese state-owned Shanxi Coal is understood to be in the running to buy New Zealand's Pike River Coal as part of a joint bid with local miner Solid Energy. Bids closed a week ago, with four players making offers, sources said. One Indian company is believed to have pulled out and another Indian company was still understood to be in the running. The state-owned mine operated by Solid Energy was put up for sale as part of a privatization programme by the New Zealand government and after an enormous methane explosion ripped through the mine near Greymouth on November 19 last year killing 29 men.

A new minimally-invasive procedure that can safely and effectively treat brain aneurysms without open surgery by implanting an FDA-approved device consisting of a flexible braided mesh tube made of platinum and nickel-cobalt chromium alloy directly into the artery has been chosen by research facility Cleveland Clinic as one of the top 10 medical innovations for 2012. The 90-year old multispecialty academic medical center which has pioneered among others coronary artery bypass surgery and performed the US's first face transplant also included a new Concussion Management System for Athletes, Genetically Modified Mosquitoes to Reduce Disease Threat and Wearable Robotic Devices in the top 10.