Mining World

A New York-based law firm is investigating possible misconduct related to the securities of NovaGold Resources.

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Chinese spot steel prices eased 0.8 percent in their fifth consecutive weekly fall, but the pace of their decline slowed, as mills started reducing production amid rising inventories and falling prices.

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Nickel sulphide explorer Western Areas has been granted the final consent by the Western Australian Minister for the Environment, to create an openpit mine at its Spottel Quoll nickel operation.

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Talking to Goldcorp CEO, Chuck Jeannes, at the Denver Gold Forum it is apparent that most of the principles set in place many years ago by former CEO, Rob McEwen, remain in place at this extremely successful Canadian-based gold miner, one of the largest in the world.

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There may be around 3,000 registered individual liquidators in South Africa, but somehow, a literal handful have a canny way of being appointed to the very biggest cases, where liquidator’s fees can run to R100m and more. Such is the recent case of Pamodzi Gold, where Enver Motala of SBT Trust, Alan Pellow of Westrust and Deon Botha of Corporate Liquidators were appointed as three of the provisional liquidators.

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Gold rose above $1 000 on Friday as the precious metal continued to benefit from a weaker dollar amid growing risk appetite and inflation fears due to stronger oil prices.

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Industrial metals tumbled on Thursday, with copper losing as much as 3 percent of its value, as doubts about the pace of recovery and persistent increases in inventories reignited concerns about near-term demand prospects.

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Barrick Gold said on Thursday that proceeds from its pending equity offering will total around $4 billion, making the stock sale the biggest in Canadian history, according to Thomson Reuters data.

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China’s iron-ore imports slipped 15% in August from a record in July to their lowest in six months, displaced by growing domestic output which fed record steel production.

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JSE- and ASX-listed gold resources company Gold One on Monday advised shareholders that headline loss a share would be between R0,40 and R0,41 a share for the interim period ending June.

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Shares of gold and silver mining companies rose on Thursday as the price of the precious metals rallied, with gold hovering close to the psychological barrier of $1 000 per ounce.

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Rio Tinto Ltd. (RIO.AU) iron ore chief executive Sam Walsh said Friday the company isn’t in negotiations with China over benchmark iron ore prices, leaving annual contracted prices for Chinese steel mills up in the air.

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