Peru Approves New Royalty Scheme for Miners
Peru's government has approved three new mining royalty or tax schemes to fund anti-poverty initiatives and infrastructure projects, Finance Minister Luis Castilla said.
Health Care Reform Unconstitutional - Pa. Court Rules
A federal court judge in Pennsylvania ruled Tuesday that the individual mandate in President Obama's health care reform law is unconstitutional.
Silver Prices Fall Late in Day on Profit-Taking, Fears about Europe
Silver prices fell in electronic trading Tuesday afternoon following a big 2.4 percent gain during floor trading as the possibility that Europe's industrial activity will plunge took some shine off the white metal.
Gold Gains on Global Fears over Eurozone Health
Gold prices rose Tuesday on global concern about the future of the euro zone, the continent's currency and the fragile state of worldwide economic growth.
White Tiger Gold Buying Century Mining in All-Stock Deal
Shareholders of U.S.-based Century Mining Corp. approved an all-stock takeover by Canada-based White Tiger Gold Ltd, Century said Tuesday.
Shares of Paramount Gold and Silver Jump on Report from Nevada
Shares of Paramount Gold and Silver Corp. jumped Tuesday after the Nevada-based precious metals miner announced the confirmation of a multi-million ounce resource.
Zachs.com names Royal Gold as Top Momentum Stock Pick
Denver-based Royal Gold Inc., which holds royalty interests in precious metals mines, won the No. 1 ranking by Zacks as a momentum stock.
Gold Weighing on Toronto's Main Stock Index
Toronto's main stock index pushed higher on Tuesday morning, following a steep sell-off in the previous session, as U.S. oil prices rose and Wall Street rallied on strength in the banking sector.
Guinea Launches Review of Mining Contracts
Guinea is launching a comprehensive review of mining contracts to root out 'unconscionable provisions' granted by previous administrations in the West African state, Mines Minister Mohamed Lamine Fofana told Reuters.
Euro Zone Central Banks Boost Gold Holdings
Gold and gold receivables held by euro zone central banks rose by 1 million euros to 363.249 billion euros in the week ending Sept. 9, the European Central Bank said on Tuesday.
Condor Resources up on Silver Discovery in Peru
Shares of Canada's Condor Resources Inc rose as much as 15 percent on Tuesday, a day after the base metal miner said it discovered high grade silver at its Peru project.
Gold Rises as Dollar Weakens, Euro Zone Worries Persist
Gold rose Tuesday as the U.S. dollar weakened against the euro and other key currencies while bargain hunters moved in following two session in which the yellow lost value.
South African Mining Union Moves towards Strike against DRDGold
South Africa's National Union of Mineworkers (NUM) said on Tuesday it had declared a wage dispute with DRDGold , the nation's fourth largest gold producer.
Gold Price Steady; Strong Dollar May Weigh on Yellow Metal
Gold prices steadied in volatile trade on Tuesday after briefly extending the previous session's 2.5 percent slide below $1,800 an ounce, as the dollar's gains versus the euro put fresh pressure on the precious metal.
Euro Falls as Italian Bond Sales Feature Soaring Interest Rates
The euro fell broadly on Tuesday after a report cast doubt on the possibility that China would support Italy by buying its government debt, while an auction of Italian bonds showed Rome paying a high price to borrow from the market.
European Stock Index Futures Rise off Seven-Month Low
European index futures rose and the euro edged off a seven-month low on Tuesday after a report that Italy may get financial support from China sparked a bout of short-covering but did nothing to ease fears that Europe is sliding into another banking crisis.
Toronto Stock Exchange Down on Greek Debt Fears
Toronto's main stock market index tumbled more than 2 percent on Monday afternoon as fears of a Greek debt default that could spread to other countries ripped through world markets.
Gold Prices Close Lower on Dollar Strength, Profit-Taking
Gold closed lower Monday after investors sold their holdings in the yellow metal to generate cash, while others took profit and a third group bought the surging U.S. dollar as a safe haven.
Chinese Auto Sales May Provide Lift for Palladium
Surging auto sales in China could give a lift to palladium, a precious metal that has a critical industrial function in the catalytic converters of cars and trucks.
Abzu Begins Drilling at Ghana Concession
Vancouver-based Abzu Gold Ltd. said Monday it has begun drilling at a gold concession in Ghana.
Silver Price Ripe for a Run this Fall - Economist
Silver is set for a run this fall, perhaps as high as $65 per ounce, a gain of more than 50 percent over its current level, the chief economist of GoldMadeSimpleNews.com said Monday.
European Stock Decline Slows After Wall Street Resistance
European stocks were down 2 percent in late trade on Monday, with French banking shares hit by mounting fears over their exposure to debt-stricken countries, but the lack of a sell-off at the open on Wall Street helped the market trim losses.
Uranium Producer Paladin Energy Borrowing
Uranium producer Paladin Energy said Monday it has drawn $127 million from a financing facility, to reimburse costs from the expansion at its Langer Heinrich project in Namibia.
Silver Set for Huge Gains - Analyst
Silver is set for a dramatic move higher, one that will even exceed the gains expected for gold, according to an asset manager for Dolefin, a Swiss investment advisers.
Guinea's Parliament Adopts New Mining Code, Hiking Govt. Share
Guinea's parliament adopted a new mining code that more than doubles the share the West African state can take in mining projects to 35% and toughens procedures for acquiring development permits, the government said on Saturday.
Platinum, Palladium Prices Falling
Prices for platinum and palladium, which are key metals used in making automobile catalytic converters, fell 1 percent Monday in U.S. futures trading as a strong dollar and profit-taking dragged down all precious metals.
Surging Gold Price Has Jewelers Seeking Alternative Materials
Silver, bronze, ebony and plastics are seeing greater use in jewelery as surging gold prices put off price-conscious consumers, jewelery makers at an international trade fair said.
Mines Management Reports Larger Second-Quarter Loss
Mines Management Inc., a U.S.-based silver mining company, said Monday its second-quarter loss grew as declining expenses were offset by less valuable derivatives.
Gold Falls As Speculators Sell to Cover Equity Losses
Gold fell further on Monday after posting its worst closing since June last week but bargain hunters could cushion the fall, while escalating worries about Europe's ability to resolve its debt crisis sent bullion priced in euro to a record high.
Rainy River Resources Finds More Gold in Northern Ontario
Canada's Rainy River Resources Ltd said drilling in the western area of its northwest Ontario gold project continued to show narrow zones of high-grade gold mineralization and wider zones of low-grade gold mineralization.
