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.
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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.
Iron wills may not be enough for Glasenberg and Davis to make it big in the ore business
The big three – BHP, Vale and Rio Tinto – control nearly 70% of the 1 billion tonne annual iron ore seaborne trade and even the combined mining and trading capabilities of a Glenstrata may not be enough of an advantage over the incumbents.
Major Drilling reports record third quarter revenue and profits and increases dividend
Major Drilling posted quarterly revenue of $182.2 million, up nearly 70% from the $107.7 million recorded for the same quarter last year. This represents the highest level of third quarter revenue in the Company's history.
Gold shares slide as futures flirt with $1,700/oz
Shares of some top gold companies are down at 1 p.m.: Barrick Gold CorpBarrick Gold Corp. fell $.99 or 2.1 percent, to $46.44. Gold Fields fell $.40 or 2.6 percent, to $14.95. GoldCorp. fell $1.30 or 2.6 percent, to $47.83. Newmont Mining CorpNewmont...
Body blow for mining heavyweights as China growth expected to slow to near decade low
The mining sector's bellwether companies were all beaten down on Monday after China's premier Wen Jiabao delivered a downbeat outlook for the world's second largest economy adding that there were "new problems" to deal with.
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.