Gold’s wild gyrations continue
After a volatile trading day which saw gold move within a $40 range, the precious metal ended the week firmly above the $1,700 an ounce level.
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Euphoria over Molycorp deal may soon turn to despair. China’s grip is as strong as ever and rare earth prices are still dropping
Molycorp's mould-breaking deal with Neo Material Technologies sent its shares rocketing in New York on Friday and some industry observers say the tie-up creates a vertically integrated company that will transform the industry. Others see REE prices continuing to drop with some already down 70% and China's grip on the market undiminished – exports could double this year and domestic production continues to ramp up.
Reliance puts the record straight on new Indonesia mining law, but not before investors take it down 11%
Reliance Resources on Friday issued an update in relation to the recently announced Indonesian Government Regulation No. 24 of 2012, regarding foreign ownership of mining projects after its share price took an 11% knock.
Poland blocks EU efforts on carbon limits
Coal-reliant Poland on Friday vetoed European Union efforts to move further towards a low carbon economy, pitting itself against the rest of the 27-member bloc.
South Africa’s standalone state mining company a step closer, already hunting for deals
South Africa took a step closer on Thursday to create a standalone mining company that will take charge of the government's role in the country's rich resources and with ambitions of becoming involved in the continent's mining sector.
Gold falls as job data crushes rate outlook
Gold fell abruptly this morning, pushed by a rising dollar after data showed the U.S. economy created more jobs than expected over the last three months, decreasing prospects the Federal Reserve will keep interest rates low for an extended period.
Canadian Mandalay Resources resumes operations in Chile
Canadian miner Mandalay Resources (TSX: MND, MND.WT) resumed operations at its Cerro Bayo project in Chile today, after protestors removed blockades, allowing supplies in and out of the mine.
Over 18% of Canada’s job losses in February were in the mining industry
Despite a healthy economic growth, Canada’s economy lost 2,800 jobs in February, with at least 18% of those positions belonging to the mining sector.
Molycorp to acquire leading rare earth processor Neo Material Technologies in $1.3 billion deal
Molycorp and Neo Material Technologies Thursday announced the signing of a definitive agreement under which Molycorp will acquire Neo Materials for approximately CDN $1.3 billion. This will create one of the most technologically advanced, vertically integrated rare earth companies in the world.
