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

First Nickel Inc. is pleased to announce that it has entered into an engagement letter to appoint Societe Generale and Commonwealth Bank of Australia to act as exclusive lead arrangers for a senior secured project loan facility up to CAD$30 million. Any commitment by either Lead Arranger will be subject to, among other things, internal credit approval, due diligence, receipt of any government and regulatory approvals and definitive legal documentation, including the provision of a separate commitment letter.

An initial cash arrangement fee was paid to the Lead Arrangers upon signing of...

China’s gold producers will extend this quarter’s rally as demand for the precious metal increases and inflation exceeds government forecasts, according to Central China Securities Holdings Co. and Guoyuan Securities Co.

Zijin Mining Group Co. and Zhongjin Gold Corp., the nation’s two biggest bullion producers, are good investments as consumer prices are expected to rise around 3.5 percent this month, Li Jun, a Shanghai-based strategist at Central China, said in an interview yesterday. Inflation accelerated to 3.3 percent in July, the highest since October 2008.

“In this...

Gold held above $1 230/oz an ounce in Europe on Friday as concern over the outlook for the global economy supported interest in the metal as a haven from risk, but gains were capped by fresh strength in the dollar.

Spot gold was bid at $1 230,45/oz at 09:26 GMT, against $1 230,10 late in New York on Thursday. US gold futures for December delivery eased $2.80 to $1,232.60.

The precious metal rose to a peak of $1 237,15/oz on Thursday after weak US jobless and manufacturing data knocked the dollar and boosted interest in assets seen as lower risk. It later pared those gains as the...

Australian Prime Minister Julia Gillard is likely to call an election on Saturday, broadcaster ABC reported on Friday, in a move that could seal the fate of the Labor government’s proposed mining tax.

The government aims to raise A$10.5 billion from 2012 under the watered-down 30 percent tax agreed by global miners BHP Billiton, Rio Tinto and Xstrata, but the conservative opposition has vowed to dump it.

Opinion polls published in Fairfax and News Ltd newspapers put Labor ahead of the conservative opposition at 52 percent versus 48 percent. For a Reuters poll trend, see:...

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...

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

General Moly Mines...

In the last Iranian month, Iranian miner Iran East Iron Ore exploited 167,000 mt of run-of-mine iron ore and produced about 155,000 mt of iron ore, representing increases of 105 percent and 94 percent respectively compared to the same month of the last Iranian year, according to the new figures issued by the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO).

Meanwhile, in the first eleven months of the current Iranian year, Iran East Iron Ore exploited about 1 million mt of run-of-mine iron ore and produced about 963,000 mt of iron ore, according to...