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December 9th, 2008
Category
Gold, Mining Investment, Oil & Gas, Trade & Market |
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It’s very grim. Shedding its workforce at the fastest pace in 34 years, the US employment scene has become very grim. The tally of year-to-date lost jobs has now reached the 2 million figure. Not surprisingly, the number of homes in foreclosure neared 3 per cent in the third quarter after a 76 per cent rise. It did not take too long for various markets to slump following the release of the dismal US labor statistics. Oil traded at four-year lows under $42 per barrel, copper shed 6.36 per cent, and the gold price staged its own cave-in, shedding up to $25 and retreating to under the previously warned-about area of support for gold per ounce at $745, to touch $739.80, in the US market. New York gold futures fell sharply to close just above $750 an ounce, ending the week more than 8 per cent lower as the bleak US jobs report triggered wholesale liquidation of assets across the board. “Gold might be dragged down with other financial assets if the financial market heads for another major downward leg,” said Jeffrey Christian, managing director of CPM Group. He added: “Gold tends to be liquidated as investors needed cash when stocks decline sharply and because of deleveraging.” Noted Matt Zeman,
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November 19th, 2008
Category
Mining Industry, Mining Investment, Mining Technology |
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The global outlook series on the Mining Industry provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a bird’s eye view of the industry, and highlights the implications boded by the consolidation wave, and rising mineral prices. The discussion on the global market is laced with 61 statistically rich, market data tables evaluating demand and consumption patterns by country/region and end-use applications, across market verticals such as, Platinum Group Elements, Bauxite and Alumina, Fluorspar, Feldspar and Nepheline Syenite, Copper, Lead, Manganese, Nickel, Cobalt, Zinc, Tin, Zirconium, Gold, and Iron Ore, among others. The reader also stands to gain an introductory prelude to regional markets such as the US, Canada, Armenia, Russia, Spain, Australia, China, India, Indonesia, the Philippines, Africa, Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador and Peru. The report provides a recapitulation of recent mergers, acquisitions, and other noteworthy strategic corporate developments in addition to an included indexed,
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November 15th, 2008
Category
Mining Company, Mining Industry, Mining Investment |
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Shell Philippines Exploration B.V (Spex) and Australia-based mining giant BHP Billiton are likely to bid for the 20 percent stake of PNOC-Exploration Corp. (PNOC-EC) in Service Contract 63 in Northwest Palawan and offshore Sabah.
PNOC-EC president Rafael del Pilar told reporters yesterday that the two firms have shown “strong interests” to join the bidding.
He said they are currently firming up the terms of reference (TOR) for the bidding process.
Del Pilar said they hope to award the farm-in contract by late December this year or early January 2009.
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September 17th, 2008
Category
Copper, Exploration, General News, Mining, Mining Industry, Mining Investment |
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AS RISING costs and falling base metal prices cause Territory-based mining companies to cut costs, support companies have branched into Indonesia.
The Dawson Group has launched into Indonesia with a new outlet on the island of Kalimantan.
The Winnellie-based company is exporting machinery parts to Indonesian coal miners and logging companies operating on the island.
”There are up to 400 coal mines from Sengata to Banjarmasan,” project manager Dave Cooper said.
”They range from big BHP-type operations to small independent miners.”
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August 31st, 2008
Category
Coal, Exploration, General News, Metal, Mineral, Mining, Mining Contractor, Mining Technology, Nickel |
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Australian mining giant BHP Billiton has laid off its Manila staff for its joint venture mining firm Amkor and has suspended operations in its mining exploration site in Mati, Davao, following its protracted dispute with businessman Peter Tan.
BHP Billiton’s decision, mining industry sources told The STAR, bodes ill for a favorable resolution of its dispute with Tan which Environment and Natural Resources Secretary Jose L. Atienza has been trying to mediate and salvage.
During Atienza’s weekly press conference last Thursday, the DENR Secretary admitted that Amkor had still not submitted a proposal on which mining tenements it could already proceed operations on apart from its other long-gestating projects with BHP Billiton.
Atienza, as of last week, was still hopeful that he could negotiate an amicable settlement with the two warring parties.
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