Semafo has purchased a new fleet of mining Samira Hill mine in Niger. These acquisitions will provide a higher availability and productivity, reduce operating costs and cash during the operation. The equipment consists mainly of two Komatsu D275-5R dozers, ten Komatsu HD605 haul trucks and two-7R-8R PC1250SP Komatsu hydraulic excavators. Machines is planned in the area come in September and October 2010 and will be fully operational in the fourth quarter of 2010. Read more
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BOSTON – An exchange-traded fund invests in gold-miner that stocks tripled in price since lower two years ago, but the Foundation last week suffered a sudden correction as an attempt to break through apex of 2008 failed.
Market Vectors Gold Miners ETF (GDX 54.89, +0.61, +1.12%) lost about 5% last week, falling faster than themselves as gold futures fell sharply after prices rally “near $ 1,400 an ounce.
The miner ETF parking near a high ITS 2008, an ominous sign for gold prices, which some believe are the result of a pullback after a nearly continuous upward growth since the beginning of August. (more…)
A series of supply squeezes oil have helped greatly this year, but some of them are short-term factors and may give way to longer-term weakness as the outlook for the world economy and global demand for fuel is dimmed. The revolt against Muammar Gaddafi in Libya, production problems in the UK and Norwegian North Sea, reduced supplies from Russia, Central Asia, Nigeria and Angola have all cut inventories, especially of high quality, light, low sulfur crude oil. (more…)
Crude oil futures settled at their lowest price in more than one week on signs that illuminate the tensions in Egypt, as the government agreed to comply with the main opposition party group for the first time.
Light, sweet crude for March delivery fell $ 1.55, or 1.7%, to end at $ 87.48 a barrel on the New York Mercantile Exchange, the lowest settlement since January 27. Brent crude on the ICE Futures Exchange slipped below $ 100-a-barrel threshold, settling down 58 cents, or 0.6%, to $ 99.25 a barrel. (more…)
