While the United States, Australia, South Africa and China are among the top gold-producing countries in the world, there is a scrum in the third world countries to increase their prospecting and offering the chance for a better and cleaner company. Peru, Indonesia and Ghana are among many countries that the mining lake. Accelerated production rates, following the spike in gold prices since 2008 economic downturn, the incentive. At the same time there are concerns about the environment and human rights implications raised.
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TOP STORY:
Gold Futures Rise to Record as Congress ‘Plays Chicken’ on Debt
Gold futures rose to a record $ 1,637.50 an ounce on the demand for an investment port amid growing concerns about the U.S. debt deadlock, and signs of a faltering economy.
COMMODITIES exclusives:
Goldfields Ghana to Boost Output 23% in 2015 Amid Expansion
Gold Fields Ltd., the world’s fourth largest producer of the metal, Ghana plans to increase production by 23 percent as it expands operations at the two mines in the country. Read more
What are the top hedge funds and investment gurus such as gold and silver mining industry? This article, the eleventh in a series, identifying through research the latest available institutional 13-F filings to the gurus who are most invested in gold and silver mining, and the special gold and silver mining companies that they prefer to keep their hedge fund portfolios. The first 10 articles in this series identified gurus over-weight in the solar industry, utilities, China stocks, aviation, optical networking industry, chemical industry, oil and gas exploration industry, the automotive industry, the biotech industry and the consumer non-durable goods sector and the stocks within those sectors they hold in their portfolios. Read more
Ghanaian President John Atta Mills says the country will learn from the mistakes of other African oil producers and save part of the revenues for future generations after the production begins today. The government agreed to lend more than 14 billion U.S. dollars say otherwise.
Ruling party lawmakers a bill amended on December 9 for the government to borrow against future oil revenues and a weight of plans to establish a sovereign wealth fund delay. The move comes on the heels of September loan agreement with China worth about 45 percent of gross domestic product. Read more
TWO West African focused gold hopefuls will today unveil plans to finance projects both believe could be advance business creators.
PMI Gold, already listed on the Toronto Stock Exchange Venture will announce plans to co-list on the Australian Securities Exchange and raise up to $ 27,500,000 for its Obotan and Kubi gold project in advance prior to a final investment decision in 2012.
PMI Gold is focused on the initial production to 150,000 ounces per year of the two assets from 2013 with a mine life of approximately eight years. Read more
The International Energy Agency raised its forecast for the Gulf of Mexico oil production losses of up to 100,000 barrels per day in 2011 due to crude spill BP plc and the subsequent deep water drilling ban. The leakage from Macondo to the output of the Gulf with 60,000 barrels per day this year, Paris-based IEA said in its monthly report today. The agency has doubled the estimate of last month when he said that the reduction of 100,000 barrels in May to increase to 300,000 barrels per day in 2015. (more…)
The impending death off BP Macondo well in the Gulf of Mexico is a milestone that is likely to attract only momentary celebration. When scientists debate how much oil is beneath the surface, years of economic and ecological recovery in the region for us. The federal government will press for answers to what went wrong 20.04 and lawsuits – including those brought by the families of 11 workers who died in the Deepwater Horizon rig explosion – will eventually make their way through the courts.
BP said late Friday on her Facebook page that “DDIII MC252 cement pumps started well at 1:30 pm CDT Friday and ended at 8:30 pm CDT.” The company will be a definitive proof of the good late Saturday, said U.S. Coast Guard Commander Ron LeBrec. (more…)
A plan to move asylum seekers from Christmas Island to the West Australian goldfields town of Leonora is met with resistance. 90 asylum seekers in the coming days will be moved to an abandoned mining camp near Leonora, more than 800 km northeast of Perth. The move has come under fire from refugee status and interest West Australian Premier Colin Barnett, who is concerned about the impact of isolation and extreme weather events will have on asylum seekers. (more…)
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