Resource Investing News

Labour Disputes Permeate Copper Market

The copper market has continuously been plagued with labour disputes for years, however, this year strikes have been especially prevalent with workers believing that they are entitled to larger pay cheques and benefits as they perceive that their employers are “raking in the cash” on the back of high metals prices.

Rare earths could be Idaho’s next cash crop

Colorado Republican Rep. Mike Coffman has been the leading proponent of getting the United States back in the REE game, introducing the Restart Act of 2010, which gives loan guarantees to mining companies, expedites the permitting process, directs the U.S. Geological Survey to scour the country for more supplies, and sets up long-term contracts with the Department of Defense to buy up the REEs produced by American companies.

Joint-venture potash project goes to vote over land

Encanto Potash Corp. has announced the Muskowekwan First Nation will vote on a Treaty Land Entitlement (TLE) designation on Oct. 1. Should the majority vote in favour, about 15,600 acres of the First Nation's treaty land will be added to the joint-venture potash project held on reserve lands by both parties.

North American tungsten output up 71%

Canadian Mining Journal reports North American Tungsten (CVE:NTC) reports third quarter production of 74,629 tonnes of WO3 from its CanTung mine.

Nickel futures rise 2.5% on firm global cues

MSN reports that nickel shot up in India to Rs 990.50 per kg in futures trade.

Indians rush to buy gold jewelry despite record high prices

CNBC News reported that Indiaès demand for gold has not been stalled by rising metal prices.

Zinc Drops to Lowest Level Since November as Commodities Slide

Bloomberg reports that zinc plunged to the lowest level since November.

Vulcan Minerals to spinout Red Moon Potash Inc.

Vulcan Minerals Inc. (CVE:VUL) announced its shareholders will vote on a spinout of some company assets into a new corporation.

Hecla Mining Q2 profit disappoints as silver production falls

Reuters Africa reported that lower silver production hurt Q2 profits for Hecla Mining (NYSE:HL).

Arab Potash Company expects output to rise by 25% this year

Menafn.com reported that Arab Potash Company's (AFM:APOT) potash output should reach 2.5 million tons this year.

US Military depending on China for rare earths

Some see it as a strategic masterstroke by China, others, a shocking oversight by the United States. And while the truth lies somewhere in the middle, the fact remains that the US is now wholly dependent on China for some of the most critical components of its modern military hardware.

Israel Chemicals signs deal to supply potash to Indian company

Platts reported that Israel Chemicals (TLV:ICL) will supply potash to an Indian company for eight months.

Neenah Jewelry Insurer Donates Diamonds to Smithsonian

Green Bay Press Gazette reports the Smithsonian National Museum of Natural History has accepted several hundred rough diamonds.

Sberbank to get 35% of Belaruskali as collateral for loan

Bloomberg reports that OAO Sberbank will receive 35 percent of Belaruskali, the Belarusian potash producer, as collateral for a $2 billion loan.

Silver falls as investors sell to raise cash

Bloomberg reports that Silver plunged to the biggest weekly drop in three months.

China Minmetals calls for rare earth production suspension

Reuters reports that Minmetals has urged all firms in the rare earth sector to maintain the national output quota by suspending production starting from the beginning of August.

Denison Mines downgrades 2011 uranium, vanadium sales projections

Mineweb reports on Denison Mines' (TSE:DML,AMEX:DNN) downgrading 2011 uranium sales projections.

Clean coal’s uncertain future in Germany

The recent passing of a carbon capture and storage (CCS) technology bill by the Bundestag (German Parliament) should be seen as a small victory in the battle to make CCS technology and ‘clean coal’ a reality. However, numerous political and economic barriers continue to persist, around the commercialization of CCS and raise the question as to whether CCS and clean coal are a pipe dream rather than an end-of-pipe solution.

Palladium plunges on concerns over global recovery

Bloomberg reports palladium and platinum fell today as amid concerns that the global economic recovery may stall.

Peru’s metal output falls across the board, silver down 22%

Production of Peru's gold, copper, silver and zinc fell in June, continuing a trend of lower output this year, the The Ministry of Mines and Energy said Wednesday. Silver production in Peru, the world's largest producer of that precious metal, fell 22.34% in June to 252,331 kilograms, compared to the prior year's period. Copper production decreased 6.43% to 101,562 metric tons in June on declines at Southern Copper Corp., Antamina and Xstrata's Tintaya mine. Zinc production was 104,498 tons in June, down 22.57% from the year-earlier period while gold output declined more than 5%.

Woulfe Mining secures production permits for S. Korea tungsten mine

Woulfe Mining Corp. announced Tuesday it has received permit approval for development of production at its Sangdong tungsten/molybdenum mine. The company’s primary focus is bringing one of the world’s largest past producing tungsten mines, the Sangdong mine, back into production. Woulfe’s goal is to commence production at the mine in the fourth quarter 2012 at an initial production rate of 1.2 million tonnes per annum.

SF Diamond rises most since debut after reporting profit gain

SF Diamond Co., a Chinese maker of drill bits and cutting tools, gained the most since its trading debut in Shenzhen more than five months ago after saying first- half profit rose 7 percent from a year earlier. SF Diamond’s first-half earnings report implies a 53 percent increase in second-quarter net income from a year earlier, compared with a 57 percent decline for profit in the first-three months of the year. The company, based in the city of Zhengzhou in central China’s Henan province, said first- quarter profits fell partly due to one-time expenses associated with its listing.

Krishnapatnam Port comes under scrutiny in India iron ore scandal

Times of India reports the Santosh Hegde Lokayukta report on illegal iron ore mining says export of illegal iron ore took place from Krishnapatnam port.

India: Nearly 10,000 tonnes of iron ore seized

NDTV reports less than 48 hours after the Supreme Court ordered all mining and transportation of iron ore in Bellary to stop, nearly 10,000 tonnes was seized.

Bannerman seeks win-win partnership

allAfrica.com reports Bannerman Resources Limited (ASX:BMN) seeking ways for a win-win partnership for its Etango uranium project located 35km east of Swakopmund.