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

Gold, little changed in London, may decline as a rebound in the dollar curbs demand for the metal as an alternative investment.

The dollar gained as much as 0.4 percent against the euro. Bullion typically moves inversely to the dollar and rose to a record US$1,152.85 an ounce on Nov. 18. The metal is up 2.1 percent this week, heading for a third weekly gain.

Lake Shore Gold Corp. and West Timmins Mining Inc. today jointly announced that the companies have completed the business combination originally announced August 27, 2009. Under terms contemplated by the Business Combination Agreement,

Paulson & Co., the hedge-fund firm run by billionaire John Paulson, is starting a gold fund that will invest in mining companies and bullion-related derivatives, a person familiar with the plan said.

Paulson will invest as much as $250 million of his own money in the fund, scheduled to begin Jan. 1, according to the person,

South America is a continent whose richness in natural resources became legendary through myths such as El Dorado or the Emerald Mountain. Neither of these ever existed, of course, but today the continent produces antimony, bauxite, coal, cobalt, copper, gold, iron-ore, lead, manganese, molybdenum, nickel, phosphates, platinum, silver, tantalum, tin, titanium, tungsten, uranium, zinc and zirconium, plus oil and gas, as well as a wide range of precious and semiprecious stones.

Angola Thursday signed a letter of intent with Ecuador to explore and produce oil and gas in the Latin American nation, Ecuador’s Oil Ministry said in a statement late Thursday.

The output value of China’s petroleum and chemical industries set a new record high in September by increasing 3.3 percent on year to 613.97 billion yuan, ending its 9-month negative growth streak, according to the latest report by the China Petroleum and Chemical Industry Association.

U.K. stocks advanced as mining companies rebounded from the steepest retreat in four months and manufacturing unexpectedly expanded in October at the fastest pace in two years.

China Investment Corp., the Chinese sovereign wealth fund, lends $500 million to SouthGobi Energy Resources.

Toronto-listed SouthGobi Energy Resources yesterday announced that China Investment Corporation (CIC) has agreed to provide a $500 million loan to finance the expansion of the company’s mining and exploration operations in the south of Mongolia.