Freeport Indonesia CEO: Strikers Wage Demands Too High
Striking union workers at Freeport Indonesia's giant Grasberg copper mine are sticking to pay demands for $7.50 an hour, a wage request deemed excessive by the U.S. miner's chief executive.
Canada's Yukon Draws Big Gold Miners
As winter draws in across Canada's northern Yukon territory, big mining companies are prospecting for bargains among the army of junior explorers staking claims in what's shaping up as the region's second big gold rush.
Gold Falls for Third Day, Eurozone Woes Trump U.S. Strength
Gold prices fell for the third day in a row Wednesday as grim news from Europe offset mildly encouraging economic news from the U.S.
Gold Prices in Largest One-Day Fall This Month
Gold extended an earlier slide on Wednesday in its largest one-day fall this month as the escalating euro zone debt crisis kept the euro near one-month lows against the dollar, making it more attractive to non-U.S. investors to sell bullion.
Novagold Shares Soar on Asset Sale Possibility
Shares of Novagold rose 13.4 percent on Wednesday morning after the mining exploration company said it is exploring a possible sale of its 50 percent stake in the big Galore Creek copper/gold project in northwestern British Columbia.
Ghana Hiking Taxes on Miners to 35% from 25%
Ghana will increase its corporate tax rate for mining companies to 35 percent from 25 percent, and will collect a 10 percent windfall profit tax from miners, according to a text of the 2012 budget delivered to parliament on Wednesday.
Striker Demands at Freeport Indonesia's Grasberg Mine Unchanged
Striking union workers at Freeport Indonesia's giant Grasberg copper mine are sticking to pay demands for $7.50 an hour, pouring cold water on government claims that they are nearing a deal to resolve the country's longest-running mining dispute.
Workers Strike at Newmont Mining's Batu Jijau Mine
Newmont Mining Corp's Indonesian unit said output was unaffected at its copper and gold mine even though 400 workers had gone on strike in a dispute over working shifts.
Future of Pakistan's Reko Diq Copper-Gold Project Uncertain
Pakistan's Baluchistan province has rejected a mining lease application from Chilean copper producer Antofagasta and Canada's Barrick Gold , raising questions over the future of their Reko Diq copper-gold project.
China's Shandong Gold Offers $1B for Brazil's Jaguar Mining
China's Shandong Gold Group, the parent of Shandong Gold Mining and a big gold producer, has made a $1 billion offer to acquire Brazil's Jaguar Mining, two sources close to the deal told Reuters on Wednesday.
Latin American Gold Production up 10% in '11 - Analysis
Latin American gold production should increase more than 10 percent this year, Metals Economics Group said Wednesday.
Gold Prices Regain Some Early Losses on ECB Bond Buying
Gold prices regained some early losses Wednesday after the European Central Bank intervened in the bond market to cap dangerously high yields on Italian, Spanish and French bonds.
Eastern Platinum's Crocodile River Mine to Resume Output
Eastern Platinum said it has resumed full production at its flagship Crocodile River mine in South Africa, following a probe into a fatal accident at the mine earlier this month.
Gold Trades Flat After Recouping Early Loss
Gold traded flat on Tuesday, recouping initial losses, fueled by worries over a euro zone economic slowdown and fears that France could be sucked into its spiraling debt crisis.
John Paulson Remains a Gold Bull - Analysis
Hedge fund manager and long-time gold bull John Paulson's move to slash ETF bullion holdings by a third in the third quarter does not appear to be a sign that he is abandoning his upbeat view of the metal, industry sources and analysts said.
Great Panther Silver 3Q Rises, Shares Sliding
Great Panther Silver posted a higher third-quarter net profit, and the Canadian miner, which operates mainly in Mexico, expects output in the fourth quarter to rise 14 percent over the current period.
Lonmin Miners Reject Offer, Strike Seems Closer
South Africa's mine workers union on Tuesday rejected an increased wage offer from Lonmin Plc and said it was moving closer toward launching a strike at the platinum miner's operations.
China Lifting Platinum Demand to 2-Year High
Rising Chinese purchases of platinum jewelry will boost global demand for the metal to a two-year high in 2011, a British consultancy said Tuesday.
Freeport Indonesia Strike Going into Third Month
Union workers at Freeport Indonesia are extending their strike into a third month, keeping production and exports halted from the world's second biggest copper mine.
Palladium Demand for Chinese Catalytic Converters to Fall
China's autocatalyst palladium demand growth is expected to slow as the auto sector cuts back on buyer incentives, refiner Johnson Matthey said on Tuesday.
John Paulson, Gold Bull, Cuts Gold from His Hedge Fund
Hedge fund manager and long-time gold bull John Paulson slashed his bullion holdings by a third in the third quarter, data showed, dampening sentiment in the gold market on Tuesday.
Gold Prices Fall as Eurozone Contagion Spreads
Gold prices fell for a second day Tuesday on growing evidence that Europe's two-year sovereign debt crisis is spreading into the continent's core economies.
Quebec OKs Goldcorp's Eleonore Project
Goldcorp said on Monday that the Quebec government has given the green light to its Eleonore project, allowing Canada's second largest gold producer to start full construction at the mine in Northern Quebec.
Gold Prices Fall after Downbeat Speech by Merkel
Gold closed slightly lower Monday as resurgent worries about Europe's finances drove investors to sell stocks and buy dollar-denominated assets, not including gold.
Oyu Tolgoi Project in Mongolia to be 70% Complete by Yearend
Ivanhoe Mines said on Monday that construction at its Oyu Tolgoi copper-gold project in Mongolia will be 70 percent complete by the end of 2011, with commercial production seen in the first half of 2013.
Gold, Silver Miners' Shares Decline
Shares of gold and silver mining companies were down Monday, falling more than the broader stock market or the price of the precious metals themselves.
Inflation Raises Detour Lake Gold Mine Costs 13%
Inflation has raised the cost of a gold mine in northeastern Ontario by 13 percent, Detour Gold Corp. said Monday.
Nevsun Resources Posts 3Q Profit
Nevsun Resources Ltd posted a quarterly profit as gold production at its Bisha gold mine in Eritrea rose sequentially.
Norilsk Nickel, World's Top Palladium Miner, Wins UK Case
Norilsk Nickel, the world's largest nickel and palladium producer, said on Monday that it has successfully defeated all claims made by UC RUSAL against it in a court in the Caribbean's St. Christopher & Nevis.
Retail Investments in Gold, Silver, Platinum ETPs Supporting Price
Retail investors are keeping a floor on prices for gold, silver and platinum with their increasing purchases of shares of exchange-traded products (ETPs) backed by precious metals.
