Molycorp stock in freefall as falling cash flow forces it to find new financing
Today's decline brings Molycorp's losses since hitting a high of $77.54 on May 3 2011 to over 80% giving it a market value of $1.1 billion.
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South American Silver announces receipt of formal decree and provides update on plan of action
South American Silver Corp announces an update on its plan of action after receiving today official notice of a Nationalization Decree of its Malku Khota silver-indium project in Bolivia.
Mongolia’s champion of resource nationalism is going to jail for four years
Former president Nambaryn Enkhbayar was found guilty on corruption charges and sentenced to four years in prison just weeks after he made a political comeback with his Mongolian People’s Revolutionary Party as the junior partner in the new ruling coalition.
Quick reactor decommissioning in Germany
Two of the German reactors ordered to shut after Fukushima will be dismantled as soon as possible. EnBW has applied for permission to do the work and said it has more than enough funds set aside.
‘Fed up’ gold mining boards to continue hacking top management
“We interpret that lack of capital discipline and stock underperformance has reached a breaking point in the mining sector and we expect further management changes to come.”
Anglogold walks away from Gabon JVs with Silver Bull
The JVs dates back to October 2009 and AngloGold spent approximately $5.7 million on exploration at Ndjole-Mevang and $3 million at Ogooue.
India’s coal mines threaten dwindling tiger population
India's tiger population has dwindled from tens of thousands a century ago to a mere 1,411 according to the last official census.
BHP Billiton takes $2.84 billion hit on shale gas asset
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 threatens worker layoffs as restructuring talks stall
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.