LATEST NEWS

ONGOING ASSET REVALUATION

Platinum majors seen as overpriced

Wednesday , 15 Oct 2008
Analysts at RBCCM slash stock price target for Impala Platinum, on revised-down metal price forecasts.
OTHER PRECIOUS METALS FORECASTS LOWER

Gold price forecasts raised by JP Morgan as investors seek safety

Wednesday , 15 Oct 2008
JP Morgan is raising its gold price forecasts for 2008 and 2009 as it anticipates investors seeking risk aversion investment options.
ANOTHER SA GOLD MINE FATALITY

Gold Fields closes key Driefontein gold mine after fatality

Wednesday , 15 Oct 2008
A worker has been killed and another injured at Gold Fields’ Driefontein mine in South Africa when an earth tremor hit the No.5 shaft.
COMMODITIES OUTLOOK

Rio Tinto predicts early winter in Shanghai

Wednesday , 15 Oct 2008
Mega miner Rio Tinto thinks Chinese metals demand will slow in line with the global economic outlook and demand won’t pick up until next year.
SENSE OF PERSPECTIVE

Where is the value? Gold seems to be the answer.

Tuesday , 14 Oct 2008
With the financial markets responding well to the actions of the major central banks and looking for a thaw in the recent freeze, how have the metals behaved in a wider context, and what is the outlook now? Gold seems to be the answer whichever way we look.
SUBSTANTIAL PRICE REDUCTION WANTED

Asarco copper takeover deal a credit crunch casualty?

Wednesday , 15 Oct 2008
Dramatically falling stock prices and problems in credit markets have caused Vedanta subsidiary Sterlite to be unable to close a deal to take over US copper miner Asarco failing a ‘substantial price reduction’.
XSTRATA STAKE VALUE SHRINKS

S&P drops Glencore credit outlook, citing metals price declines

Wednesday , 15 Oct 2008
Standard & Poor’s lowered its outlook for Glencore International on the basis of reduced earnings potential and “the current significant drop in the value of Glencore’s sizable financial stakes”.
FORTESCUE UP 55% IN A DAY

Iron ore scores a win

Tuesday , 14 Oct 2008
A little lift in market sentiment, and investors raise the value of listed iron ore stocks by billions of dollars.
COPPER OUTPUT DECLINES

Vedanta reports record base metals production for first half of CY 2008

Wednesday , 15 Oct 2008
Major mining and metals company Vedanta says zinc, aluminum, and iron ore output were up during the first half although copper output declined mainly due to planned smelter maintenance.
MARKETS ROBUST

Consol predicts coal prices to stay high

Wednesday , 15 Oct 2008
Although company expects coal prices to stay high, major U.S. coal miner Consol reckons it will have to hold off on new mine projects for the time being because of credit crunch.
ONE MILLION TONNES REDUCTION

Top China alumina producer plans major output cut

Wednesday , 15 Oct 2008
Chalco is temporarily reducing alumina capacity at Shandong plant by 1 million tonnes due to low prices.
NATURAL RESOURCES DEVELOPMENT A PRIORITY

Canadian Government wins re-election. Positive for mining?

Wednesday , 15 Oct 2008
Canadian Prime Minister Stephen Harper and his Conservative Government easily won re-election Tuesday, which may prove a positive political development for the Canadian mining sector.
POSITIVE RESOURCE STOCKS

King Coal bounces back

Tuesday , 14 Oct 2008
Starting Monday, listed coal stocks in most global regions rallied powerfully, leading the global resources sector upwards.
OTHER BASE METALS RISE TOO

Bank recapitalisation sparks copper price surge

Tuesday , 14 Oct 2008
Base metals prices have bounced due to an anticipated recovery of financial markets sparked by efforts to recapitalise banks.
HISTORIC PROPERTY

UK Copper/lead/zinc project sale negotiations ceased

Tuesday , 14 Oct 2008
LSE quoted Angelsey Mining reports negotiations have ceased over the sale of its historic Parys Mountain property in Wales, UK.
WORLD CLASS HYDROCARBON DEPOSIT

TNK-BP starts production at new Siberian oilfield

Wednesday , 15 Oct 2008
After months of ownership wrangles, TNK-BP has started up its new Verkhnechonsk oilfield with first deliveries into Transnet’s new Asian pipeline.
UNCONTROLLED SELLING

Commodity stocks may have been seriously oversold. Buy at, or near, the bottom.

Tuesday , 14 Oct 2008
As most commodity prices have continued to plunge, and commodity stocks have fallen even faster, could we be nearing, or at, the bottom? If so there are bargains to be had out there.
ANALYSIS

Bolivia: A blizzard of misinformation on mining and everything else

Tuesday , 14 Oct 2008
A detailed assessment of Bolivia's mining industry and the Morales government's attitude towards foreign mining investment and whether further nationalization will, or will not, take place.
$1600 PRICE MEDIUM TERM

Platinum may still be in deficit despite car sales drop

Monday , 13 Oct 2008
Edison Investment Research says ahead of the Platinum Congress in London that it expects the platinum market to still have a deficit of 1m ounces from 2009-2014.
STRONGER PROFITS IN Q2

Gold Fields earnings may drop 70% in first quarter but significantly better next year

Monday , 13 Oct 2008
RBC Capital Markets reckons Tier 1 gold miner, Gold Fields', earnings will drop dramatically in first quarter 2009, but matters are set to change in the second quarter.
GOLD FALTERS

Huge surge in stocks and commodities on 'bold' European rescue steps

Tuesday , 14 Oct 2008
Most stocks rose dramatically on the European bank rescue announcements and most commodities rose too, although gold faltered as its safe haven status seemed less important on the news.
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FAST NEWS

DELAYING STATE-OF-THE-ART STEEL MILL

Shougang postpones steel mill start-up 

ZINC PRODUCER CUTS JOBS

Nyrstar sacks 205 workers in Belgium 

FEATURED MINING COMPANIES
MANAGEABLE DEMANDS NEEDED

BHP Billiton less scope to maneuver on Rio bid

Tuesday , 14 Oct 2008
Because of the current financial climate, BHP Billiton has expressed the hope that any demands made by the EU competition authorities over its proposed Rio Tinto bid should be manageable.
NO RUSAL APPROVAL

Potanin raises Norilsk ante with aggressive sale and purchase move

Tuesday , 14 Oct 2008
Despite an unprecedented liquidity squeeze in Russia, Vladimir Potanin has gone ahead with a sale of assets he controls to Norilsk Nickel. It is not thought the approval of UC Rusal, which holds 25 percent of Norilsk, had been sought.
ANALYSIS

Lonmin needs to up platinum mining performance as Xstrata waits in wings

Monday , 13 Oct 2008
Major platinum miner faces a big struggle to turn itself around in the 12 months before predator Xstrata can make another, probably much lower, bid for the company after withdrawing its £33 a share offer.
RULE CHANGE WOULD BAN EMERGENCY WITHDRAWALS

BLM rejects House Resources Committee Grand Canyon hardrock mining ban

Monday , 13 Oct 2008
Federal officials are seeking to abolish a rule that allowed the House Natural Resources Committee to try to block uranium mining and exploration around the Grand Canyon.
COPPER, ALUMINUM PRICE FORECASTS CUT

Pro-commodities Goldman turns bearish, warns on $50 oil

Monday , 13 Oct 2008
Although Goldman Sachs is currently bearish on commodities, the bank said infrastructure growth in China and expanded consumer demand for manufactured goods suppors a bullish case for base metals.
GOLD AND DOLLAR BOTH BEING SEEN AS SAFE HAVENS

Gold hits records in sterling, rupees and euros

Friday , 10 Oct 2008
While demand is rampant for coins in western hemisphere nations, Indian demand is faltering, despite expectations for further record prices. Lease rates are rising, but gold is not in a backwardation.
$100 TRADING RANGE ON DAY

Relentless liquidity selling has gold off nearly 10 percent

Saturday , 11 Oct 2008
The global liquidity crisis had a severe impact on gold on Friday as the need for liquidity prompted major sales bringing the yellow metal back $100 at one time.
OFFICIALS SAY PROJECT STILL ALIVE

Gold Reserve cuts back on Brisas start-up production

Monday , 13 Oct 2008
As Gold Reserve still awaits the final approval for the Brisas gold project, the company has cut down on its plans for initial production.
QUICK WORLD TOUR

Worst week for equities since 1970

Friday , 10 Oct 2008
A look at 110 stock market indices, and other key indicators, from especially deep stock market crashes in Russia and China, to gold bullion, a relative outperformer, and the cheerful dollar.
SLOWER-THAN-EXPECTED OUTPUT RAMP-UP

Gold Fields cuts Q1 output forecast for Cerro Corona

Friday , 10 Oct 2008
Gold Fields has reduced its Q1 output forecast for Cerro Corona mine in Peru by 2.7%.
FROM CARNAGE TO CARNAGE

Ground control to Major Tom

Saturday , 11 Oct 2008
The world's top 20 listed miners and top 20 oil names have now seen USD 3.3 trillion worth of market value evaporate into the great blue sky.
‘GOLD SHOULD MOVE TO NEW RECORDS’

BMO's Coxe predicts gold and commodity stocks will reach new peaks during next global recovery

Friday , 10 Oct 2008
Once the global downturn bottoms out, BMO Global Portfolio Strategist Don Coxe forecasts “gold should move to new records,” also insisting the commodity story is not dead.

COMPANY RELEASES
   Trevali identifies new tailings at Santander - Wednesday , 15 Oct 2008
   Gold Fields reports fatality at Driefontein - Wednesday , 15 Oct 2008
   Uranium One establishes Australian JV with Mitsui - Wednesday , 15 Oct 2008
   First Quantum reports record quarterly production - Wednesday , 15 Oct 2008
   Exeter starts drilling at Caspiche - Wednesday , 15 Oct 2008
   Golden Share initiates scoping study on Forsan - Wednesday , 15 Oct 2008
   Uruguay Mineral Exploration releases AGM results - Wednesday , 15 Oct 2008
   Nominations announced for Swedish Steel Prize - Wednesday , 15 Oct 2008
   Churchill Mining provides project update - Wednesday , 15 Oct 2008


CONFERENCES
   Silver Investment Summit (UK)  -London Paddington Hilton, London, UK  -
   The World Money Show London  -QE II Conference Centre, Westminster, London, UK  -
   World Platinum Congress 2008  -RoyalGarden Hotel, Kensington, London, UK  -
   San Francisco Hard Assets Conference and Exhibition  -San Francisco Marriott Hotel  -
   MineAfrica - Investing in African Mining  -Andaz Hotel, Livepool Street, London  -
   Mines and Money London 2008  -The Business Design Centre, Islington, London, UK  -
   Vancouver Resource Investment Conference  -Vancouver Convention and Exhibition Centre, Vancouver, Canada  -
   The World Money Show Orlando  -Gaylord Palms Resort, Orlando, USA  -
   Mining Indaba 2009  -Cape Town International Convention Centre, South Africa  -
   PDAC 2009  -Metro Toronto Convention Centre, Toronto, Canada  -