Some mining companies decide to stay in mine-field Ecuador

Despite the tumultuous political climate in the country, some oil companies have decided to sit down with the Government and negociate. Petrobras (Brazil), Repsol (Spain) and Andes Petroleum (China) are the companies who have made good with the Government, despite the legal spider-web that President Correa has woven around the energy sector over the past 10 months.

These companies are braving this storm in spite of the investor-hostile environment the country displays at present. Let's hope their stay is a good precedent for others in similar positions.

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Alert! future homeowners: Energy leak technology available

Now that energy costs and savings seem to be at the top of everyone's mind, a new device has come out to help detect energy leaks, thus reflecting in energy savings.

This camera uses 40-year old military technology that has now been made available for a price tag of about $3k. Not precisely cheap, but manageable for professionals. For instance, when you're buying a new home, you may want to ask your home inspector to use it to detect any possible leaks in your new abode. This is a good consumer tool, to ensure that the 30-year old commitment you're entering is leak free, virtually!

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Alas! Oil prices drop to lowest point in three-month stretch

Today oil prices were as low as $111 per barrel, which translates into less expensive heating oil and lower gas prices. Given the approaching end of summer, heating expenses are in the mind of just about everyone, so this is good news for those who have oil-base heating. Cheaper gas also helps, particularly when you have an SUV or a long commute, ouch!

For more info

Canada and Panama explore FTA

During his Latin American tour (Mexico, Panama and Ecuador) Canadian Minister of Trade, Michael Fortier, discussed the possibility of a Free Trade Agreement with Panamanian President Martín Torrijos. If it came to fuition, said agreement would considerably strengthen Canada-Panama relations to both their benefit.

Panama is host to several Canadian companies such as Scotiabank, Teck Cominco, Inmet Mining and SNC Lavalin, and educational entities like McGill University, St. Clair College and Durham College. These entities hire locals and thus vitalize their economy.

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Union strikes again!

"The number of union employees at Verizon has declined since the last strike, when it was at 87,000. Verizon Wireless, the company's big growth driver, has few union employees" When you read this kind of statement you can't but wonder why would they hire less and less union employees? Might it be because lately Unions take companies and consumers hostage of their so-called demands, also known as corporate bullying?

Never mind fair working conditions, unions get greedier and greedier, to benefit their leaders. Unions were created as positive entities necessary to protect employees from greedy employers, way back when. At some point, the tables turned and now we need to save employees and companies from greedy union leaders.

Read on

Investment in AZ on potential porphyry copper project

The company announced its investment of US$652 million to support the feasibility study for porphyry copper. The company expects these Pre-feasibility studies to be completed by 2012, and production at the new mine would start by 2020. The indicated goal is to reach a copper production of 500,000 tonnes per annum.

This production increase is surely going to translate into more jobs for Arizona workers. It'll be interesting to watch the current work-force conditions vs. the job market in AZ in 2020.

Full company release

CANADIAN COMPANY TO TRADE ON PERUVIAN STOCK EXCHANGE

Canadian mining company Aponquindo Minerals Inc. will begin trading in the Peruvian Stock Exchange under the symbol AQM. The company's Peruvian subsidiary holds options to two projects, a gold-silver prospect and a porphyry copper prospect in Peru.

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Minerals' prices go up - Anglo American profits

LONDON (AP) - Mining company Anglo American PLC said Thursday that first-half profit rose 27 percent on the back of high copper, platinum and coal prices.Net profits for the six months through June 30 rose to US$4.3 billion from US$3.38 billion in the same period last year. Revenue rose 13 percent to US$14.53 billion from US$12.88.«The key drivers of this performance were production growth in copper, iron ore, manganese ore, coal and phosphates, continued strength in the commodity price environment and the early benefits of tighter operational discipline across the businesses,» chief executive Cynthia Carroll said in a statement.

Article

GM has a tough 2nd Quarter

Today, GM reported a loss of over $15 billion in the 2nd Quarter of '08. This is partly due to a decrease in sales and many other factors, among which you can count a "$197 million charge related to the settlement of a nearly three-month strike at supplier American Axle and Manufacturing Holdings Inc., which hurt production at more than 30 GM plants."

This is bad news folks. If one of the largest auto manufacturers in the county is having a hard time it's probably because, in spite of any official reports, our economy is at an all-time low. Of course, this doesn't help the upcoming election, but I think it's time to fact the facts.

See GM article

In the midst of Summer, is oil on your mind?

As a New Englander, even in the hottest day I can't help but wonder about oil for the upcoming fall and winter. Last year alone, I spent close to 3,500 to warm up a 1100 sq. ft. condo. This year, I don't wanna know... Granted, I've spent a good chunk of July getting my burners serviced and getting in new replacement windows. I have hope... maybe next winter I won't have to resort to coal to stay warm. Those were the good old days, I guess, when you could buy cheap, reliable coal to stay warm. Granted, it's a bit messy, but with fuel and oil prices these days I'd gladly go for coal, given the chance.

Below some links to pieces on the subject:

Article 1

Article 2

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