mineral exploration project – commodity prices – mining stock- trade and market

Lihir Gold shareholders have voted almost unanimously to accept Newcrest Mining’s $10.6 billion scrip-and-cash takeover offer.

The deal will create the world’s fourth-biggest mining company.

With no sign of a white knight emerging, the vote, in Port Moresby yesterday, makes the acquisition almost a formality, with Papua New Guinea National Court approval of the deal scheme of arrangement the only hurdle.

At the meeting, 99.86 per cent of all votes cast were in favour of the deal, which will see Lihir shareholders receive 0.12 Newcrest shares and 22.5c for every...

Gold declined in New York as signs that the global economic recovery is taking root curbed investor demand for the metal as a means of protecting wealth and as yesterday’s gain dampened physical purchases.

Gold yesterday rose 1.2 percent, the most in more than three weeks. Singapore’s government today raised the forecast for full-year economic growth to as much as 15 percent, while Intel Corp. reported record second-quarter sales and topped analysts’ estimates with its forecast for the coming period. Asian shares gained and U.S. index futures rose. European stocks were down 0.5...

A major investment by a Chinese company puts a big mining project near Eureka back on track.

General Moly Mines...

Stock market development in some increase in the stock market, selling shares of gold mining companies become leaders in improving the stock sales. However, some stock market decline, the European stock market decline, some investors took profits in some sectors and there are no significant economic news to the decision-making.

Chinese nickel company Gobimin dumped its nickel assets and is embarking on a new business model of becoming a vertically integrated silver marketer and silver refiner to serve China’s domestic market.

South Africa’s FTSE/JSE Africa All Share Index fell for the first time in three days, losing 447.11, or 1.8 percent, to 24,519.76, as unemployment in the U.S. at a 26-year high stoked concern the global economic recovery won’t last, prompting commodity prices to extend declines. The measure dropped 1.7 percent this week, a second week of declines.