Gold takes the most hits in Tuesday’s rough markets
Gold prices tumbled to $36.45 or 2.1% to $1,669.21 per ounce on Tuesday morning due to worries about Greece and a flight to the American dollar.
Cecilia Jamasmie , Editor-in-Chief
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Rio Tinto to close its UK Lynemouth smelter
Rio Tinto Alcan, the aluminum division of Rio Tinto PLC (RIO) announced today it will close its Lynemouth aluminum smelter in Northumberland, England at the end of March, as part of its aluminum restructure plan.
Thousands of Peruvians protest against tougher illegal mining sanctions
Over 5,000 informal miners started an indefinite protest in the gold-rich Peru's Madre de Dios region on Monday, demanding the government to revoke a new decree that regularizes small-scale and artisanal operations.
Latin America leads global mining exploration spending again
Latin America remained the most popular exploration destination, attracting 25% of global explorations spending in 2011, said to the Halifax-based Metals Economics Group's World Exploration Trends report released on Sunday.
Over $1 Billion in mineral exploration attracted Ontario in 2011
Investment in mineral exploration in Ontario, Canada, exceeded $1 billion for the first time last year, said today the Minister of Northern Development and Mines, Rick Bartolucci.
Ontario government tries to avoid confrontation with First Nations at PDAC
In what was clearly a strategic move, the Ontario Ministry of Northern Development and Mines released a statement on Sunday saying that it has withdrawn all lands near the Kitchenuhmaykoosib Inninuwug (KI) community from prospecting and mineral staking.
Near-record for mining M&A in 2011 to be followed this year by an “African Renaissance” – PwC
If 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion announced in the global mining sector, 2012 will be remembered as the year of the “African Renaissance,” concludes the latest PricewaterhouseCoopers’ report released this morning.
Ecuador to sign $1.4 billion copper contract but Kinross gold project stalled
Chinese-owned mining company Ecuacorriente will sign a contract to invest $1.4 billion over five years for extracting copper in Ecuador's southern Amazon, reports local newspaper La Republica.
New Gold reached record 212% increase in net earnings last year
A record of 212% increase in net earnings in 2011, as well as record annual gold production of 387,155 ounces, reported gold miner New Gold (TSX and NYSE AMEX:NGD).
Cameco buys Areva’s uranium Millenium Project for $150 million
Cameco Corp. (TSX: CCO; NYSE: CCJ), Canada’s largest uranium company, said it agreed to buy Areva Resources Canada’s 27.94% stake in the northern Saskatchewan-based Millennium project for $150 million. With this acquisition Cameco becomes the majority holder in the proposed uranium mine.
Kidnappers kill Vizsla mine workers in Mexico
The focus remains on the safe return of those who remain missing, the company said.
