Mining & Aggregates News
China Challenged Over Rare Earths Limits
U.S. plans to file a complaint at the World Trade Organization over Chinese limits on exports of rare earths used in high-tech products, deepening a trade dispute between the world’s two largest economies. It seems rash and unfair for the U.S. to file a complaint against China before the WTO, which may hurt economic relations between the world’s largest and second-largest economies. This makes it obvious that China won’t hesitate to defend its legal rights in trade disputes.
A Ceaseless Climb for Gold, while the World Economy Bites its Nails…
Recording an all-time high for the fourth consecutive session, gold prices touched a never-before price of $1,910 earlier today reinforcing prevalent investor sentiments regarding gold being a safe haven, while equity markets across the world witness massive ups and downs. With the U.S and European economies continuing to look shaky, the precious yellow metal has [...]
Venezuela Prepares to Nationalize its Gold Industry
In a move aimed at halting illegal mining as well as boosting the country’s gold reserves, Venezuelan President Hugo Chavez has announced plans of taking over Venezuela’s largely underdeveloped gold mining industry. In a statement on state television, Chavez announced these plans, saying that “We’re going to nationalize the gold and we’re going to convert [...]
Equinox says yes to takeover bid by Barrick; Minmetals withdraws
Australian copper miner, Equinox, announced late last night that it had accepted the $7.1 billion takeover offer by the world’s biggest gold miner, Canadian Barrick Gold. Barrick’s offer, being significantly higher than the $6.5billion proposal bid by Chinese miner Minmetals Resources, has meant that Minmetals has had to withdraw its offer and walk away from [...]
Riding high on a nervous global economy: Gold soars to $1,500
The precious yellow metal, true to its tradition of breaking record highs when the rest of the economy is in doldrums, shot over $1,500 earlier today. The consistent increase in gold prices is being considered a result of slow economic growth in the west, fuelled by Japan’s nuclear crisis, Standard & Poor’s downgrade of their [...]
Fairtrade, Fairmined gold on sale in UK
With prices for the precious metal surging on markets all across the globe, Fairtrade and Fairmined gold will go on sale in the UK in a first-ever effort to secure a fair deal for gold miners and their communities. Some of the world’s best-known names in the precious metals industry, Garrard, Harriet Kelsall and pioneer [...]
Turning into Gold. Rio Tinto
Thanks to rising commodity prices, Rio Tinto Group, the world’s third- largest mining company, has reported record profits of £14bn. Primarily powered by surging demand from Asia, the Anglo-Australian mining company has also consequently announced a huge increase in its dividend as well as a $5bn share buyback to soak up surplus cash. Sitting on Gold Rio [...]
