As Detour Gold nears completion on its mine on the Ontario side of the belt, Balmoral Resource on the Quebec side of the provincial border seek to defy the concept that the system contains 30 million gold ounces on one side of the border, and nothing on the Quebec side.
According to South Africa’s National Planning Minister, Trevor Manuel, the country will not be hitting mining companies with any surprise new taxes.
Originally the Bogoso/Prestea oxide plant in Ghana operated from 1990 to 2008, until it was sidelined due to a lack of an adequate oxide ore supply required to keep the plant afloat. After three years of being put on care and maintenance, Golden Star Resources (TSX:GSC) (AMEX:GSS) announced the re-commissioning of the oxide plant at Bogoso/Prestea, a move that’s expected to generate up to 70,000 ounces of gold in 2012.
Global supplies of rare earth elements have been threatened ever since China imposed export quotas in mid-2010. In the aftermath, increased attention was drawn to potential producers like MolyCorp and Lynas Corporation, while the sector was viewed in need of a savior outside of China. Among the juniors aiming to join the fray, Medallion Resources has proposed a unique strategy to gain low-cost production in the very near term.
Last week witnessed a tit-for-tat press release exchange between $11M market cap TNR Gold [TNR – TSX.V] and $549M market cap Minera Andes [MAI – TSX] over a hotly contested Argentinian copper property known as the Los Azules.
According to a report released today on BullionStreet.com, gold dealers in Vietnam are feeling the pinch of export restrictions levied at the end of 2010. Due to regulations regarding the purity of bullion and jewelry, these dealers are being squeezed by a 10% export duty that’s imposed on gold bullion with a purity of 99.99% and gold jewelry with a purity of 80%.