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

The world’s second largest gold producer said it plans to link its dividend to gold prices and added it would raise production by more than a third by 2017.

Newmont Mining Corp , the second-largest gold producer in the world, plans to link its dividend to gold prices, and said it will target to raise production of the precious metal by more than a third by 2017.

Denver-based Newmont’s shares, which have trailed the Arca Gold Bugs Index since the beginning of the year, rose 4 percent to $58.72 in early trade. The index, which tracks 16 of the world’s largest bullion...

Horizonte, the AIM quoted exploration and development company focused on Brazil, is pleased to announce that it has signed a US$4.5 million earn in agreement on its 100% owned Falcao gold project, located in the Carajas Mineral Province of northern Brazil, with major gold producer and exploration partner, AngloGold Ashanti Limited.

Highlights

- AngloGold can earn into 51% of the Falcao project by spending US$4.5 million on exploration and development over three years

- First year cash commitment of US$900,000 on exploration funding

- Fast track drill programme to...

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

In June Cliffs and Riverside signed an agreement to explore and acquire iron oxide-copper-gold projects in Mexico.

“This investment by Cliffs into Riverside solidifies the partnership between...

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...

Fights about proper ownership of natural resources, especially mined product, have been a feature of Australian public policy debate since early settlement. Lack of consultation, arbitrariness and an overweening and greedy government famously caused the Eureka rebellion.

Fast forward to today, we have all these ingredients minus the muskets, plus retrospectivity, sovereign risk, slavering international competitors such as Brazil, Indonesia and South Africa, and a growing capital strike.

Much of the future impact of the Rudd government’s new mining tax is thought to fall on...

The Australian sharemarket closed three per cent higher for the week, as middling-to-positive leads from European stocks and Wall Street culminated in a solid weekly close, after China rejected reports it was considering reviewing its European bond holdings.

For the week, the benchmark S&P/ASX200 index gained 3.15 per cent to 4,457.5 points, while the broader All Ordinaries index jumped 7.58 per cent to 4,479 points.

AMP Capital Investors chief economist Shane Oliver said it looked like a correction in equities and commodities prices was under way, and a decent rally was beginning.

Bullion Monarch Mining Inc., a precious metals royalty and resource development company based in the...