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Mining news: SILVERGold price may reach US$1,200 by 2011: execan ounce in two years, Feng Zhijian, honorary chairman of the Chinese Gold & Silver Exchange Society, said Friday. The price of the precious metal may rise as the global recession and political instability in some parts of the world sustain its appeal FerrAus names former BHP exec as new CEOFerrAus Ltd has named former BHP Billiton Ltd executive Mike Amundsen as its new managing director and chief executive. Mr Amundsen took up his new role this week, as FerrAus took full ownership of the Silver Swan North nickel and gold joint venture Hochschild ups stake in Gold Resource for $20 mlnLatin American gold and silver producer Hochschild Mining Plc (HOCM.L) said on Wednesday it exercised an option to up its stake in Gold Resource Corp (GRC) (GORO.OB), buying a further 5 million shares for $20 million. Precious metals contract downMumbai, Jul 1 : Gold August 09 contract was down by 0.14 per cent at Rupees 11,436 per 10 gram and Silver July 09 contract moved down by 0.15 per cent to Rupees 22,317 per kg at Multi Commodity Exchange (MCX) here today. Copper August 09 contract rose by Precious metals crashMumbai, Jul 01 : The bullion market witnessed a downward trend for the fourth straight session today, with Silver crashing by Rupees 450 per kg and Gold by Rupees 140 per ten gm, following lack of buying enquiries from industrial users along with BHP, Mithril pull out of FerrAus JVBHP Billiton Nickel West and Mithril Resources have withdrawn from the Silver Swan North nickel and gold joint venture, with full ownership of the project reverting to FerrAus. Iron ore mining hopeful FerrAus says the project near Kalgoorlie will now be Billiton withdraws from Silver Swan dealBHP Billiton Nickel West and Mithril Resources Ltd have withdrawn from the Silver Swan North nickel and gold joint venture, with full ownership of the project reverting to FerrAus Ltd. Iron ore mining hopeful FerrAus says the project near Kalgoorlie, Where next for the bonus culture?Last year at mining company Xstrata, for example, Mick Davis, the chief executive, was paid a package worth almost £14m - that’s 424 times the average salary paid to Xstrata employees. This inevitably raises questions over whether, in an organisation that employs thousands, any one person can really be worth that kind of pay differential. Strong rand may force Harmony reviewMiningmx » News » Gold & Silver Graham Briggs, Harmony CEO [miningmx.com] — HARMONY Gold will need to take ?fundamental? look at its mines if the rand gold price remains at lower levels for another quarter, CEO Graham Briggs said on Wednesday. PRECIOUS METALS: NY Gold Seen Up $3, Silver Up 3 CentsDOW JONES NEWSWIRES August gold futures are expected to open floor trading in New York around $3 an ounce higher Wednesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. September silver Standard and Poor’s Initiates Factual Stock Report Coverage on First Majestic Silver Corp.Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on (TSX: FR) produces primarily silver and other metals, and develops, explores and acquires mineral properties with a focus on silver in Mexico. The company’s Silver miner Hecla pays down debt, loosens credit facility spending limitsRENO, NV - Please place in silver news, USA, Top Stories, Whats New Idaho-based silver miner Hecla Mining said Tuesday it has made a prepayment of $18.2 million to its $380 million term loan, bringing the total repaid on the loan to $341.7 million. The DJ Mexico’s April Mining Production Down 16.1 pct On YearMexico’s mining production fell 16.1% in April from the year-ago month, led by declines in output of silver, gold, copper and lead. The National Statistics Institute, or Inegi, said silver output fell 22.1% from April 2008 to 170,805 kilograms, and gold DRDGOLD bids low for MintailsMiningmx » News » Gold & Silver Niel Pretorius, CEO, DRDGOLD [miningmx.com] — DRDGOLD is offering about R340m - around A$0.05c per Mintails share - to buy the bulk of Mintails assets which seems likely to disappoint many shareholders. The number is Silver Mining Stocks Show Upside Due to Increasing Demand from China- The Wall Street Transcript has just published its Gold & Precious Metals Report report offering a timely review of the sector to serious investors and industry executives. This 99 page feature contains expert industry commentary through in-depth DRDGOLD bids for MintailsMiningmx » News » Gold & Silver Niel Pretorius, CEO, DRDGOLD [miningmx.com] — DRDGOLD has confirmed it is bidding to buy the South African assets of dump retreatment partner Mintails which is listed on the Australian Stock Exchange as was first PRECIOUS METALS: Comex Gold Inches Downward, Reacts To DollarGold futures finished marginally softer Monday after the dollar index edged higher earlier in the day, with extra pressure on silver due to chart-based factors. Overall, activity was described as quiet with no major impetus for a big move in either Azteca Gold Corp.: Close of Financing and Two Mile Project UpdateMatthew Russell, President of Azteca Gold Corp. (the ‘Company’) (TSX-V:AZG - News) wishes to announce the final closing of its current financing, as well as update progress on exploration activities at the Two Mile Project in the Silver Valley of Idaho. Aurcana Corporation: Positive Pre-Feasibility for Shafter Silver Mine7.75 Million Ounces Silver Expected in First Two Years VANCOUVER, BRITISH COLUMBIA–(Marketwire - June 29, 2009) - Aurcana Corporation (’Aurcana’ or the ‘Company’) (TSX VENTURE:AUN - News) is pleased to announce it has received a positive Pre-Feasibility IAMGOLD Acquires About 8.02 Mln Common Shares And 1.50 Mln Warrants Of Mexican Silver Mines - Quick Facts(RTTNews) - Monday, IAMGOLD Corp., (IMG.TO: News ,IAG: News ) announced that it has acquired about 8.02 million common shares and 1.50 million warrants of Mexican Silver Mines Ltd. That company had the same number of common shares and warrants of Rio |
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