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Gold Prices Increase on Falling Supply and Rising Demand
February gold futures broke $1200 for the first time a little after 4AM New York time. February 2010 is now the major front month contract after the expiration of the December contract on November 30th.
Gold futures were up 14% in November, the best monthly performance in ten years. Silver was also up 14%. Gold traded [...]
Government of China Agrees Takes Over OZ Australia Minerals
Planning agent of economics China, National development and Reform Commission ( NDRC) has agreed Government of China $12 Minmetals billion taking over mine OZ Australia Minerals.
Rio Tinto 15 pct Falls Iron Ore Mine Production, Expect Iron Ore Mine Demand From Chinese Steel Industry
The rising toll of the global slump and downturn in commodities, is hitting Rio Tinto. And, as is usual in the north of Australia during the wet, the weather played its part again. The world’s third biggest miner revealed yesterday in its March quarter production report that first-quarter iron ore output fell 15% after floods [...]
FIRB Decided To Extend Review China Mining Company, China Minmetalss To Acquire OZ Minerals
The Australian Foreign Investment Review Board (FIRB) has decided to extend its review of China Minmetals’ $1.8-billion offer to acquire OZ Minerals, the world’s second-biggest zinc miner, by 90 days, ie, till 22 June.
Condition Of Commerce Of Mining Exploration Sector, Gain Of Massey Merger On US Coal Mine Exploration
Taker over mine company Alpha Natural Resources Inc. by Cleveland-Cliff equal to $10 billion is an the biggest acquisition process in coal industry.
While the worldwide bear market slowed mergers and acquisitions by 35 percent in the first half of the year, takeovers of energy and mining companies jumped 33 percent so far this year as [...]
Mexico Mining Boom
Regional myopia is a widespread failing. Say “ Mexico” in Europe and the word game usually brings up “holidays”. The other side of the Atlantic it would probably be “cheap labour”. Only in Canada is “mining” Mexico’s main claim to fame. Yet Mexico is one of the oldest mining countries in the world, and it [...]
China nickel miner Jinchuan to list all assets
Jinchuan is aiming for revenue above 50 billion yuan ($6.66 billion) – HONG KONG, Oct 23 – Jinchuan Group Ltd, the largest nickel miner in China, plans to list all of its assets including copper, cobalt and precious metals mines and smelters through an initial public offering, a company executive with knowledge of the plan [...]
Sumitomo Metal Mining profit gains 81% as prices gain
Sumitomo Metal Mining Co, Japan`s second-largest copper smelter and biggest nickel producer, said first-quarter profit rose 81% as metal prices climbed.
Net income gained to 45.7 billion yen (US$386 million) in the three months ended June 30 from 25.2 billion yen a year earlier, the company said in a statement to the Tokyo Stock Exchange on [...]
NovaGold Second Quarter Financial Results and Project Update
NovaGold Resources Inc.today announced its financial and operating results for the three months ended May 31, 2007, along with an update on the Company’s project development activities. Details of the Company’s financial results are described in the unaudited consolidated financial statements and Management’s Discussion and Analysis which, together with further details on each of the [...]
