May 2011

Globe Metals shares up on rare earth find

Shares in Africa-focused Globe Metals and Mining shot up on Monday after it released positive rare earth exploration results. Chinese state-owned firm East China Minerals Exploration and Development Bureau last month became the largest shareholder in Globe when it bought a 53.7 per cent stake.

Globe Metals & Mining | May 31, 2011 - 11:35 pm

Precious Metals

Monument earns $15m gross revenues with Malaysia gold pour

Monument Mining made $15 million in gross revenues in the first three months of 2011, having sold 10,704 ounces of gold at an average price of $1404/oz. The Vancouver-based gold explorer, which owns two gold properties in Malaysia, said it is on target to exceed 40,000 ounces of gold this year, the company's first year of commercial production. Image by Monument Mining Limited

Andrew Topf | May 31, 2011 - 10:50 pm

Analysts see potash prices rising throughout 2011

Two separate Wall Street reports gave fertilizer producers a boost on Tuesday. Investment bank Citigroup upgraded its recommendations for the two top producers Mosaic and Potash Corp. of Saskatchewan to buy citing strong global agricultural fundamentals and reduced Chinese exports. In a separate opinion Barron's magazine over the weekend said Mosaic's stock is worth a look as potash prices are predicted to rise throughout the year thanks to depleted inventories and consolidation among Russian producers.

Frik Els | May 31, 2011 - 10:17 pm

Base Metals

Barrick receives Zambian clearance for Equinox acquisition: all regulatory approvals now received

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or “the Company”) announced today that it has received the unconditional approval of the Zambian Competition and Consumer Protection Commission for Barrick’s proposed acquisition of all of the issued and outstanding common shares (the “Equinox Shares”) of Equinox Minerals Limited (TSX:EQN)(ASX:EQN) (“Equinox”). This approval has been obtained in connection with […]

Marketwire | May 31, 2011 - 6:43 pm

Shear Diamonds announces engagement of DR Americas to evaluate Jericho diamond recovery plant

Shear Diamonds Ltd. (TSX VENTURE:SRM) is pleased to announce that it has engaged the services of DRA Americas (“DRA”) to evaluate the existing diamond recovery plant at the Jericho Diamond Project, Nunavut. DRA is a world leader in the design and engineering of mineral process solutions with experience specific to Canada’s Northern diamond industry. “DRA’s […]

Marketwire | May 31, 2011 - 6:40 pm

American Potash LLC signs memorandum of understanding with United States Bureau of Land Management

American Potash LLC, a corporate joint venture owned equally by Confederation Minerals Ltd. (TSX VENTURE:CFM) and Magna Resources Ltd. (CNSX:MNA), is pleased to announce the signing of a Memorandum of Understanding (“MOU”) between American Potash LLC and the Utah State Office of the United States Bureau of Land Management (“BLM”) for the purpose of facilitating […]

Marketwire | May 31, 2011 - 6:40 pm

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Battery Metals

Rare earths a magnet for investors again

This is what happens when you corner a market the way China has done with rare earth elements: Statistics collected in Hong Kong show exports of rare earth metals have shrunk by half over the past year. Over the same period, the value of these exports jumped 10-fold. It’s hard to argue with these kinds of numbers. After the stocks prices of the few big players pulled back from recent highs investors saw it not as evidence of sobriety returning to the market, but simply as a buying opportunity.

Frik Els | May 31, 2011 - 6:37 pm

Energy

As the focus on the US dollar shifts to the euro, gold continues to advance

Luckily for US financial officials, the Greek debt crisis and Eurozone has taken center stage. It was not long ago when the United States hit their $14.3 trillion borrowing limit. The government now has until about August 2, before it begins to default on its loans, which have ballooned as the country spends more than it […]

David Levenstein | May 31, 2011 - 5:07 pm

Energy

Playing the fertilizer trade with potash

Food prices have been rising. The price change has been significant enough to create difficulties in emerging markets. Some countries have had demonstrations and riots. There are several reasons for the increase in food prices:

Seeking Alpha | May 31, 2011 - 4:18 pm

Precious Metals

Silver turnover on COMEX has tripled this year against 2010

Silver's high fix, when it was way overbought, was $48.70 on April 28th. Gold held up briefly as silver toppled over, but as the commodities sector as a whole got caught up in the onslaught, gold in particular, was sold in order to raise cash against margin calls.

Mineweb | May 31, 2011 - 3:59 pm

Videos

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