First oil sands bitumen tanker arrives in Quebec port

Loading up the global warming argument with righteousness is harming the cause, says a blogger at the Philospher’s Beard. “The moralisation approach […]

TORONTO, ONTARIO--(Marketwire - Oct. 11, 2011) - IAMGOLD Corporation ("IAMGOLD" or the "Company") (TSX:IMG)(NYSE:IAG) today announced the following for the third quarter of 2011:

• gold production of 222,000 ounces from continuing operations and represents:
  • an increase of 18.1% from the 188,000 ounces produced in the second quarter of 2011;
  • a 13.8% increase from the 195,000 ounces produced in the third quarter of 2010, when Essakane was in the early stages of its production ramp-up; and
• niobium production of 1.2 million kilograms as compared with 1.1 million kilograms produced in the second quarter of 2011 and the third quarter of 2010.

Vancouver, B.C. Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") announces its intention to carry out a non-brokered private placement of up to 156,250,000 units at a price of $0.45 per unit for gross proceeds to the Company of up to $70,000,000 (the "Offering"). Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.67 per share for a period of 36 months from the closing of the Offering.

The Australia Coal Association makes a pitch for coal with a recent video on YouTube showing how important the industry is to Australia and the country's ecocomy. Coal has been under pressure from the left-leaning Australian Labor Party. The government recently introduced a carbon tax set to kick in 2012. The coal industry claims that the tax will hurt the industry and shut down mining operations.

Endeavour Silver Corp. (TSX:EDR)(NYSE:EXK)(FRANKFURT:EJD)announced today that silver and gold production from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, continued to rise year-on-year in the Third Quarter, 2011. Silver production was up 8% to 858,738 ounces (oz) and gold production was up 7% to 4,926 oz compared to the Third Quarter, 2010. Revenues jumped 93% for the quarter to US$38.8 million thanks to both higher silver and gold production and higher realized metal prices.

World energy consumption is set to grow 53% by 2035 and most of that energy will be coming from fossil fuels, according to a study by the U.S. Energy Information Administration. While energy consumption will grow slowly in the U.S. and Europe, countries like China and India that are growing their industrial base will be gobbling up more and more energy.

Agnico Eagle's production (NYSE:AEM) totaled 265,978 ounces, an increase of approximately 11% over the second quarter 2011 level of 239,328 ounces due to improved performance at Kittila Mine and Meadowbank Mine. "For the first nine months of 2011, the Company produced a record 757,668 ounces of gold. This compares with the previous nine month record set in the first nine months of 2010 when gold production was 731,138 ounces," said the company in a news release. Last month Agnico Eagle acquired Grayd Resources for $275 million.

Edmonton Journal reports that regional planning directors are considering LRT, light rail transport, to solve traffic jams along Highway 63. As more workers pour up north to work on the oil sands projects, workers are becoming snarled in traffic since the roads lack capacity. "[Officials] say something needs to be done about mobility issues that could impede the region's economic growth, with some estimates indicating an hour of traffic congestion costs oil companies $20,000 to $50,000."

A mining contractor at Aquarius Platinum's Everest Mine is on strike. The strike has been called by the Association of Mining and Construction Unions, which is demanding full organizational rights under the South African Labour Relations Act. The contractors on strike are employees of Murray & Roberts Cementation. "This is a technical dispute between AMCU and MRC, and no demands are being made by AMCU of Aquarius or its subsidiaries," said Aquarius Platinum (ASX:AQP) in a dispute.