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4/27/2009

Burkina Faso: Mine d’or d’Inata dans le Soum


Les travaux de construction de la mine d’or d’Inata dans la province du Soum sont à 80% du taux d’exécution. C’est ce qu’a constaté le ministre Abdoul kader Cissé en charge des Mines, des Carrières et de l’Energie lors de sa visite de terrain, vendredi 24 avril dernier. Au regard de l’évolution satisfaisante des travaux sur le site, le minitre Cissé pense déjà à l’inauguration de la cinquième mine d’or du Burkina probablement en fin juin 2009 comme l’ont promis les responsables de la Société des mines de Bélahouro (SMB).

4/23/2009

Burkina Faso: IAM commence la construction de sa mine


L’exploitation aurifère au Burkina Faso vient de franchir un tournant avec le démarrage des travaux de construction de la mine d’Essakane qui deviendra la plus grande mine d’or du pays. C’est le Premier ministre, Tertius Zongo, qui a lancé le 19 mars dernier les travaux. Exécutés par la société minière Essakane-SA, ils doivent durer dix-huit mois. Cette entreprise est détenue majoritairement par la société canadienne AIM Gold Corporation.

Lesafriques.com

4/22/2009

How low can Dubai property prices go?


This is pretty much the same as asking whether now is the time to buy in Dubai? Prices have certainly tumbled down from the peak of the market last summer.

That was when we all got tricked by the surging oil price into believing that Dubai price rises would continue forever. Well the oil price crashed from $147 to $33 a barrel, and Dubai real estate behaved in similar fashion.

70% down
Apartments in the Burj Dubai, the world’s tallest building scheduled for completion this September, are selling for $600 per square foot compared with $2,200 last summer. That is a 70 per cent crash in prices.

Garden Villas on the Palm Island are down by around 50 per cent, ditto Jumeirah Islands and Meadows villas. If you want a real bargain how about $325,000 for a two-bedroom villa in the Arabian Ranches.

And yet these prices still seem expensive to many potential buyers.

Arabianmoney.net

4/20/2009

Algerie: Production aurifère en hausse


La production aurifère de l’Algérie à partir du gisement de Tirek Amesmessa a connu, depuis le début de cette année, une progression record, représentant au premier trimestre une augmentation de 86 % par rapport au dernier trimestre de l’année dernière, avec plus de 278,5kg d’or produit.

Algerie-dz.com

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4/17/2009

India and China want IMF to sell its gold



India and China may press for the sale of the entire gold reserves of the International Monetary Fund (IMF) to raise money for the least developed countries.

The IMF holds 103.4 million ounces (3,217 tonnes) of gold that, if sold, can fetch about $100 billion.

A draft paper exchanged between New Delhi and Beijing proposes that the gold be sold in bullion markets over a period of two to three years. The money thus raised must be used in tackling poverty in the poorest nations.

“We have been discussing with China a common position on the subject,” a senior finance ministry official told Financial Chronicle.
Both prime minister Manmohan Singh and Chinese president Hu Jintao will have to clear the proposal before the representatives of the two countries can take it up at the IMF spring meeting in June in Washington.
The G20 heads of state meeting in London earlier this month agreed to sell a part of the IMF gold to raise $6 billion for poor countries during 2009-11. This was a component of a $1.1 trillion package worked out by G20.
The World Bank has estimated that over 90 million people may be pushed into poverty in the global economic turmoil.
We are working on a more ambitious proposal of selling the entire gold as it is an idle asset with the IMF,” said the official.

Mydigitalfc.com

4/14/2009

India's gold demand wanes


India's gold demand eased on Monday after last week's pick-up as traders waited for lower levels, dealers said.

"There is no demand today... there was demand last week," said a dealer with a state-run bank in Mumbai.

"If prices fall below $850 (an ounce), then demand may revive," said the dealer.

Reuters.com

4/09/2009

Burkina Faso: Eboulements de "mine" d'or


La série noire sur le site du métal jaune de Doré (dans le Yatenga) se poursuit. Dans la nuit du dimanche 5 au lundi 6 avril 2009, trois orpailleurs y ont encore trouvé la mort par suite d’éboulement. En février dernier, quatre chercheurs d’or de la localité avaient perdu la vie dans les mêmes circonstances.

Et Doré, contrairement à son nom aux consonances hâlées, n’est que le drame qui cache la calamité qui sévit sur bien de sites d’orpaillage où ne règne qu’une seule règle : pas de règle.

4/08/2009

India's Gold Buying Season Begins


The states of Kerala, Assam and some other north-eastern regions will celebrate Vishu (Bihu) in a big way on April 14th, and that is an auspicious occasion for people to start new ventures and Buy Gold.

In Kerala, jewelers are expecting a rise in gold sales after a huge slump in the bullion market following the recent soaring Gold Price, compounded by the economic recession. And ahead of these Vishu celebrations, the Gold Price has just come down below 15,000 Rupees per 10 grams.

This may boost sales in the coming days.

Christians, a major consumer of gold in Kerala, will celebrate Easter on April 12, and jewelers hope that Kerala Christians will add gold also in the shopping list for Easter.

And then comes Akshaya Thritiya, India's second biggest gold-buying festival along with Dhanteras, which falls on April 27th. Hindu citizens, especially in the south, are expected to Buy Gold regardless of price, as they believe it will ensure lasting prosperity

4/07/2009

GCC could include gold in its single currency


At the 48th meeting of the governors of GCC Monetary Agencies yesterday officials said that the six nations had yet to agree on either a location for a single central bank, or how it would be linked to the US dollar or a basket of currencies and possibly gold.

Russia has openly called for the inclusion of gold in a new global currency based on Special Drawing Rights issued by the IMF. Saudi Arabia has huge gold reserves which it might be keen to use to back the new Gulf single currency basket, but the UAE has no gold reserves.

Arabianmoney.net


4/03/2009

India gold imports grind to a halt


INDIA, long famed as the world's largest gold buyer, has stopped importing the precious metal as people sell their scrap jewellery and coins to exploit high world bullion prices, dealers said on Friday.

Dealers said there were no gold imports in February or March.

4/02/2009

Mali: Découverte d’un gisement aurifere a Yanfolila


Après les mines Sadiola, Morila, Yatéla, Kalana, Loulo, Tabakoto et Syama qui ont valu au Mali sa troisième place de producteur d’or du continent après l’Afrique du Sud et le Ghana, un septième et très important gisement aurifère vient d’être découvert à Yanfolila.

La teneur en or dans un gisement, selon les spécialistes, dépasse rarement 15 grammes par tonne de minerai. La moyenne serait même de 10 grammes. Mais le filon que vient de découvrir la société Wassoulor dans le village de Kodiéran, s’avérerait exceptionnel soit une teneur de 2,7 kg la pépite

Maliweb.net