Record low gas prices in North America will result in BHP Billiton (NYSE:BHP) taking an impairment of US$2.84 billion (before tax) against the carrying value of the Fayetteville shale gas assets acquired from Chesapeake Energy in February 2011.
Gold Fields (NYSE:GFI), the world's fourth largest gold producer, has begun formal talks with its workers and union about labour reductions at its South Deep Joint Venture.
The Earth's climate has been continuously changing throughout its history. From ice covering large amounts of the globe to interglacial periods where there was ice only at the poles - our climate and biosphere has been in flux for millennia.
In 2011 gold-mine production came in at an all-time record high. And in 2012 experts anticipate production to be even higher, edging above the previous year’s 87m-ounce tally. From the looks of it, the major source of gold’s supply is in fine fettle. But is the gold-mining industry truly healthy?
Gold dropped 1% to below $1,600 an ounce for the first time in a week on Thursday after disappointment over efforts to stimulate the economy from the US Federal Reserve was followed by more of the same from the from the European Central Bank.
Half of British Columbians could be convinced that building the Northern Gateway Pipeline is a good idea, as long as economic and environmental considerations are addressed, but Premier Christy Clark can't capitalize.
Don't worry, Warren Buffet who spent $26.5 billion on acquiring Burlington Northern Santa Fe railroad and Union Pacific Corp. is weathering the coal downturn by switching to oil and gas made plentiful by the hydraulic fracturing glut.