Industry Summits
Credit woes hit new mine projects, others survive
LONDON (Reuters) - The mining sector -- with strong earnings, low debt and buoyant underlying metals prices -- has been less hurt by the global credit crisis than others, but the funding tap has virtually closed for unknown firms with new projects, executives said this week. Full Article
Barrick CEO: no hedging in next 3 to 5 yrs
NEW YORK (Reuters) - Barrick Gold Corp , the world's top producer, will not consider hedging its production against any downside of gold prices, its chief executive said this week. Full Article
Newmont sees margins up, no writedown
NEW YORK (Reuters) - Newmont Mining Corp , the world's second biggest gold producer, said on Wednesday it expects margin expansion as a result of a higher gold price and its own cost-cutting measures. Full Article
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Mining firms innovate to cope with shortages
LONDON (Reuters) - Global mining firms are unearthing ingenious solutions to grapple with shortages of workers and equipment amid the commodities boom, recruiting retired miners and buying cut-rate equipment from China and Russia, executives said this week. Full Article
UBS sees metals, mining M&A but IPOs stall
LONDON (Reuters) - The outlook for mergers and acquisitions in the metals and mining industry is strong as emerging market players bulk up and competition for the earth's dwindling resources intensifies, a top sector banker said on Wednesday. Full Article
Major Drilling says scarce labor poses hurdle
NEW YORK (Reuters) - The scarcity of trained labor, not machinery or capital constraints, is the main hurdle facing the mining industry, said the head of Major Drilling Group , one of the world's largest mine drilling companies. Full Article
Peter Hambro eyes Russian greenfield sites
LONDON (Reuters) - Russia-focused gold miner Peter Hambro Mining plans to stick to acquiring greenfield sites rather than buying gold producers, and is not considering expanding into China for now, its head said on Wednesday. Full Article
At U.S. gold capital, workers needed amid boom
GOLDSTRIKE MINE, Nevada (Reuters) - Kelly Branstrom has worked underground for a dozen years in the most productive gold mine in U.S. history, Barrick Gold Corp's Goldstrike, yet never seen the ore. Full Article
Miners expect higher gold as supply falls
NEW YORK (Reuters) - The price of gold will rise further because of supply constraints and strong buying on the back of a struggling dollar and inflation fears, the world's biggest gold producers told the Reuters Global Mining Summit. Full Article
Barrick skeptical on Pascua-Lama project
NEW YORK (Reuters) - Barrick Gold Corp is not convinced there will be a resolution soon of tax and permit issues delaying its proposed $2.4 billion Pascua-Lama mine in Argentina, its chief executive said on Wednesday. Full Article
More Global Mining and Steel News
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