R.I. Update for Friday, 22 August 2008

TOP STORIES    Can One Man's Actions Take $6 Billion In Value Out Of A Minor Metal Market In A Month? By Jack Lifton, 21 Aug 2008, 11:43 AM The collapse of the price of rhodium, a cautionary tale of inventory building and unexpected demand. Additional key 'players' were a lack of: oversight, foresight, and competence. Got Gold Report - SLV Adds Silver Big Time By Gene Arensberg, 21 Aug 2008, 10:31 AM Since Monday, August 18, while the paper contract-dominated spot silver market tested the high $12s, there has been considerably more buying pressure than selling pressure in the U.S. silver ETF, Barclay's iShares Silver Trust (SLV), as evidenced by the trust having to add 241.199 tonnes of silver bars in three trading days. The Building Storm: Gold, The Dollar And Inflation By David Galland, Managing Editor - The Casey Report, 21 Aug 2008, 04:48 PM One could hardly fail to notice that gold investors have suffered a little more than a "bit of pain” over the past month. More like a good kicking as gold moved down by about 20% from its recent high of $986 on July 15. Southwestern's New Partner: Hochschild--Buys Out Newmont By Canadian Press, 21 Aug 2008, 12:28 PM Southwestern Resources Corp. (SWG) says it has a new partner, Hochschild Mining PLC, which will take over operation of the Liam joint venture in Peru from Newmont Mining (NEM). DRDgold: Rising Production By Sapa, 21 Aug 2008, 10:05 AM DRDGold, South Africa's fourth-largest gold producer, said today it was at a point where it believed it could deliver total production of the order of 400,000 ounces per annum over time. Kimberley CEO Boosts His Stake By Charlotte Mathews, 21 Aug 2008, 10:11 AM Kimberley Consolidated Mining (KCM) CEO Hein le Riche would continue buying the company's shares as he believed they offered value at current levels, he said yesterday. Nova Scotia Premier Slams Liberal Carbon Tax Plan As Unfair Burden By Canadian Press, 21 Aug 2008, 05:07 PM Premier Rodney MacDonald ramped up his fight against the carbon tax plan proposed by the federal Liberals on Thursday, saying Nova Scotia would be hurt by it because the province relies heavily on fossil fuels. SNC-Lavalin Wins $92 million Smelter Contract By Canadian Press, 21 Aug 2008, 01:53 PM Rio Tinto Alcan has awarded joint venture led by engineering giant SNC-Lavalin (SNC) a $92 million contract for upgrades at its Boyne aluminum smelter in Australia. Strong Shipping Market Lifts Grindrod By Artwell Dlamini, 21 Aug 2008, 10:16 AM CEO Alan Olivier said company results were achieved against the backdrop of a buoyant shipping market and substantial demand for commodities. Financial Factors And The Current Account: Is Volatility A Concern? By Rebecca Hellerstein and Cédric Tille, 21 Aug 2008, 12:35 PM Financial globalisation has made current account balances more sensitive to volatile variables like asset prices and interest rates. This article says that greater current account volatility may be good news if it comes in the form of countercyclical risk sharing. Dishonest White-Collar Workers On The Increase Worldwide By Loyiso Sibali, 21 Aug 2008, 10:21 AM In South Africa, fraud is most common in infrastructure, government and healthcare, followed by information, communication and entertainment — KPMG survey
PITPUNDIT BLOG  High grade gold in a near-ideal location  Nickel, zinc miners whacked by prices and costs  Eurasian Natural Resources' profit soars 250% and says no to board seat  One trader had 11% of Nymex oil contracts  A U.S. first: Utility voluntarily closes coal-fired powerplants  World's biggest bank...China--naturally  Oilsands stocks heated by Gates/Buffet visit  China no longer hungry for Indian iron ore  Natural gas liquids now more recognized  A galvanized mining mess  Iceland into offshore, Arctic oil drilling  A grounded golden eagle  Sulawesi nickel by 2015  Norwegian leak occasions major price move  Ferrochrome market up by yearend  Hyundai's Li-ion hybrid for 2010  Camel's nose in the Saudi souk (bourse)  BHP--going to directly the consumers?
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