Woulfe advances Sangdong
With tungsten prices on the rise, Vancouver-based Woulfe Mining (WOF-V) is scrambling to restart the past-producing Sangdong tungsten-molybdenum mine in South Korea by late 2012.
Volume 97 Number 27 Aug 22 - 28, 2011
Market news
Toronto Stock Exchange
Spot prices
Tuesday, Aug 16, 2011
What next for Lundin?
Rumours have been circulating for weeks that cash-rich BHP Billiton (BHP-N, BTL-L) might be interested in making a bid for Lundin Mining (LUN-T), but a late-night post on the Telegraph’s website on Aug. 8 added more fuel to the fire.
LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Aug 15, 2011 (change from Aug 1 in brackets):
Xstrata snaps up First Coal
Global coal giant Xstrata (XTA-L) has recently sealed a $147-million cash offer for privately-held First Coal and its northeastern B.C. coking coal assets.
Lower Q2 production at Eastplats’ Crocodile
Eastern Platinum (ELR-T) saw second-quarter production from its main Crocodile River platinum group metals (PGM) mine in South Africa’s Bushveld Complex shrink by one third, due to labour issues that led to a strike at the mine in early…
Standard Chartered says gold could hit US$5,000 per oz.
After a decade-long bull market “the gold mining industry has done little to bring on new supply,” Standard Chartered concludes in a new report, arguing that the gold market will be in deficit until at least 2015.
Photo contest winners announced
The winners of the 7th annual photo competition put on by Australia-headquartered mining consultancy Snowden have been announced.
Soaring Q2 profits for Uranium One
Uranium One’s (UUU-T) second-quarter profits surged 450% to US$29.7 million compared to the year-ago period, as revenue nearly doubled.
People
American Vanadium – Ron Macdonald appointed a director.
African Queen looks to repeat Pan African’s success
Irwin Olian is looking to strike it big in Africa yet again.