Newmont Mining Corp said on January 5 it would pay more than $2 billion in taxes over the life of its proposed Conga mine inPeru after violent protests by residents and local politicians in the Cajamarca region -- where the operation is located -- since November. The protestors claim the Colorado gold miner’s activities will taint their water and affect a major aquifer.
Centerra Gold sees continued pressure from wage inflation and higher oil prices in 2012. VP of Investor Relations John Pearson said they are trying to cut costs and increase efficiency.
Junior mining and exploration companies can offer investors increased exposure to gold price appreciation. Share prices for junior miners can be leveraged to gold price increases, an initial discovery, or the significant achievement of commercial production.
Chris Ecclestone, Mining Strategist, explained the potential for gold mining companies, “the interesting thing is that Chinese enterprises in the past have roamed the world searching for base metals and products that they can take back to the mother land. In this case a purchase of a gold company in Brazil, it is definitely a mold breaker. It means that potentially all gold stocks within a certain size are fair game.”
Uzbekistan is a land-locked country in Central Asia, once a member of the former Soviet Union. The country hosts impressive mineral reserves, including gold, copper, molybdenum, silver, zinc and uranium. The mineral sector has been the country’s main economic engine.
Thirty-years ago, Madagascar was one of the best geologically studied countries in Africa, but following a period of political instability, exploration was put on the back-burner. Once a significant gold producer, Madagascar is once again focusing on its mining sector. The country is considered one of the best gold exploration targets in Africa.
Aquila Resources Inc. (TSE:AQA) announces developments relating to its Michigan Gold Project located in the Upper Peninsula of Michigan.
Estrella Gold Corporation (CVE:EST) commences a core drilling program at the Daylight Zone of the Colpayoc Gold Project and it has identified high grade silver and gold mineralization four kilometers northwest at the Cerro Rico Zone.
Orvana Minerals Corp. (TSX:ORV) announces operating results today for the year ended September 30, 2010.
Fronteer Gold Inc. (TSE:FRG,AMEX:FRG) announces financial results for the three and nine months ended September 30, 2010.
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