Jack Saunders is a miner. At 22, he is one of the youngest in the UK Small, dark and wiry, he looks younger than his age, but has worked at Hatfield near Doncaster, northern England, for four years and loves it. Mining is in the blood, he says. “My uncles, my father, my grandfather, my great-grandfather did it,” he says. “I never thought that I have a chance to get underground, because the well was closed when I was 16, but opened back up when I was 18. It is something that does not happen to the young boys these days. All my friends in the village are always asking me, but you can not explain it, because it’s a different world. “The average age of the remaining 3000 of the United Kingdom or so deep the miners is around 50. For them, spend much of their lives underground is routine. Read more
State and local officials to discuss creation of an underground coal mine in Tuscaloosa County, which may include hundreds of new jobs. The Tuscaloosa News reports the project has the potential of creating 500 new jobs, plus more positions to build a deep underground mine is built. The newspaper says the new mine would be built by Walter Energy, the parent company of Jim Walter Resources. Read more
Stock market and oil prices fell on December 8 with crude closing below $ 99/bbl in New York, as pessimistic markets shrugged off the rate cut by the European Central Bank (ECB) and the U.S. government a report by the lowest number of first applications for unemployment benefits in nine months. Read more
As thousands take to the streets to protest global corporate domination, the power struggle just below the surface remain outside the media attention. But in recent weeks, unrest in the mining industry also discussed the gap between the corporate elite and the impoverished masses – a fault line which municipalities stabbing in poverty, but rich in resources. Read more
A miner was deceased in the second fatal accident in the mining industry a fortnight after a roof collapsed at one of the deepest remaining British coal mines. Another man who captured the incident in North Yorkshire survived after he saved him from the 800-meter-deep pit at Kellingley Colliery, Knottingley. The alarm was raised after a Rockfall at 16:35, prompted a large response from emergency services, including a specialist hazardous area response team from the Yorkshire Ambulance Service, whose members are trained to work underground. Read more
Comex gold futures ended higher on Friday gearing towards its highest annual profit in three years, supported by a languishing dollar and a strong outlook for precious metals in 2011.
Gold priced in euros, British pound and Swiss franc rose to all-time highs this year as the European Union bought out Greece and Ireland. Holdings in exchange traded products backed by precious metal gained 17 percent, and increased demand for gold coins. Gold expected to rally further next year as inflationary pressures continue to build and interest rates remain low. With oil prices threaten the psychological $ 100 / bbl, gold prices only expected to be higher in 2011 violated.
However, the only negative is that many funds are heavily exposed that could result in a sell-off. This would especially be on the back of a potential turnaround in the U.S. economy. (more…)
U.S. stocks fell 1 percent on Monday as the effects of the earthquake and tsunami in Japan was caution on Wall Street, that’s probably more volatility in the near future to see.
The benchmark Standard & Poor’s 500 fell to its lowest in six weeks, following sharp losses abroad. European shares hit their lowest level in three months.
“When in doubt, sell,” said Charles Lieberman, chief investment officer of Advisors Capital Management, LLC in Hasbrouck Heights, New Jersey. (more…)
Leftist Ollanta Humala of Peru President signed three bills increasing taxes and royalties in the lucrative mining sector in the law Wednesday, marking the latest mining-related change in the law of the world’s No. 2 producer of copper and silver and the sixth largest gold producer. (more…)
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