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Gold Mining Company New Gold Reported Gold Production In The Third Quater 2009 Increased 16 Percent
New Gold Inc. today announced unaudited financial and operational results for the third quarter ended September 30, 2009. Gold production was 79,531 ounces in comparison to 68,801 ounces in the same quarter in 2008. Earnings from mine operations increased by 67% to $22.6 million from $13.5 million in the third quarter of 2008.
Rio Tinto Group Estimates Iron Ore Production Rose 7.5 Percent
Largest mining company Rio Tinto would predict an increase in iron ore demand from steel makers. Therefore, Rio Tinto will increase iron ore production of 7.5 percent. Rio Tinto iron ore will produce up to 210 million to 215 million metric tons in the second and third quarters. Production of iron ore was sourced from [...]
Mining Market and Trade : Gold Prices Increase, Oil Tops $50 as Inflation Concern Spurs Commodities
Reported by bloomberg today, gold prices increase most since September and oil exceeded $50 a barrel for the first time in two months on speculation the Federal Reserve’s steps to spur growth will revive demand for commodities as a hedge against inflation.
Mining Stock and Investment : Mining Sector and Banking Higher Sharemarket
Local shares opened slightly higher today on strength in the banking sector and Newcrest Mining.
Weakness in market heavyweights BHP Billiton and Rio Tinto restricted the gains.
Mining Market, Prices and Demand, Metal-Copper Steady and Major Mining Hurt Slump
- Copper steady after 2 days of large price swings
- Demand concerns, rising inventories weigh
- Mining majors hurt by slump in prices
Platinum Producer, Anglo American Cut Plan Investment on Metal Price Rout
Anglo American Plc, the mining company that controls the world’s biggest platinum producer, cut planned investment by more than half as a rout in metals prices thwarted its $45 billion expansion program.
Mining and Energy in South Korea Plans
South Korea plans to invest about six billion dollars in overseas mining and energy projects to secure stable supplies for the resource-poor nation, a state minerals explorer said Monday.
Korea Resources Corp (KORES) said it would work with local private companies to secure uranium, copper and other resources within the next eight years.
“The planned investment is [...]
Mining Trade and Market, December Gold Tops $810/Ounce On Dollar, Oil
December gold futures set a new contract high Friday, reaching levels not seen since 1980 as the dollar continued to weaken and oil increased, analysts said.
Also, sharply higher-than-expected jobs data, the recent Federal Reserve interest rate cut and third-quarter gross domestic product data combined to cause the metal’s traders to begin pricing in inflation.
December gold [...]
European Mining and Oil Stocks Gain, Led by BHP; Ahold Drops
European mining and energy stocks rose, led by BHP Billiton Ltd. and Total SA, as copper prices increased and crude oil surged to a record.
Renault SA and PSA Peugeot Citroen SA advanced after Japanese automakers Nissan Motor Co. and Honda Motor Co. reported earnings that exceeded estimates. Royal Ahold NV led retailers lower after the [...]
