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!

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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.

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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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Student loans no more... is this the begining of an educational crisis?

With the news about college loans being more elusive than ever, going to college may become tougher than ever for an average middle-class student. How are parents going to afford sending kids to college? And what will happen 4 years from now when there are fewer professionals joining the workforce? How will we close that gap?

Read the article below:
"Since the unprecedented collapse of the student loan market, financing a college education has become more complicated than ever. For the Ferragutos, it started in April with a letter from the Massachusetts Educational Financing Authority, the nonprofit lender for thousands of students who attend colleges and universities in Massachusetts. The letter said the authority would no longer offer federal loans, including low-interest Stafford and parent loans. Even worse, the authority said money for private student loans was in doubt."

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Oil prices finally come down!!

NEW YORK—Oil prices shed nearly $4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand.
Light, sweet crude for September delivery dropped $3.98 to settle at $124.44 a barrel on the New York Mercantile Exchange, crude's lowest finish since June 4. The August contract expired Tuesday at $127.95.
At the gas pump, prices continued to let up. Regular gasoline dropped more than a penny to an average of $4.0402 a gallon nationwide, according to auto club AAA, the Oil Price Information Service and Wright Express. That is down more than 7 cents from last Thursday's all-time high. Diesel slipped 0.6 cent to $4.802.
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Outrageous!!!! Since when is no job better than a pay cut???

At this time of crisis, it is disheartening to see how unions strive to make things more difficult for their "members". I was simply outraged when I read the following article detailing how "The International Brotherhood of Teamsters is protesting an emergency 15% pay cut granted by a bankruptcy court judge and what it sees as unfair labor practices."

When an employer is facing a financial hardship, wouldn't it make more sense to work together to minimize the number of jobs lost? Isn't it better to take a pay cut than to be unemployed? Well, apparently the Teamsters (or their leaders) don't think so. Read on...

Mining center would boost jobs in Canada

I encourage people to read the article that follows. It is about a community that is actually upset at the government for not allowing a mining center in their neck of the woods. These folks, for a change, are hitting center when they realize the economic development that this mining center can bring to their area. Congrats for knowing what's good for them and their families.

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Gas gone mad

According to a Boston Globe article, "High diesel prices cut boat operators' profits, keep many craft moored." Now with the summer season finally here, where are our boating hopes? It seems like Bostonians will not get as much ocean time this year, which is a shame when you think of it. In the past, many used to await the arrival of summer to take out their boats for leisure or to take boat rides to go whalewatching. How many a times did we go whalewatching just because it was a nice day? Well, this year, you'd better check your wallet to make sure you've got enough money to pay for fuel.

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Caterpillar goes to Brazil!

Caterpillar Inc., the world’s largest maker of earthmoving machines, agreed to acquire MGE Equipamentos & Servicos Ferroviarios Ltda., a Brazilian manufacturer of components for trains. Financial terms weren’t disclosed.
MGE also maintains and rebuilds locomotives and transit cars and its customers include railroads and transportation authorities throughout South America, Peoria-based Caterpillar said in a statement today.
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Canada's mining industry leads sustainable development

Kudos to the MINING ASSOCIATION OF CANADA's (MAC) Towards Sustainable Mining (TSM) for their initiative on Sustainable development.

VANCOUVER - A new study by Five Winds/Strandberg Consulting indicates that the MINING ASSOCIATION OF CANADA's (MAC) Towards Sustainable Mining (TSM) initiative has positioned Canada's mining industry as a leader in sustainable development."MAC won a Globe Foundation award in 2005 for its work on TSM," stated Gordon Peeling, president and CEO of MAC. "This new study reaffirms that TSM is effective, credible and enabling our members to demonstrate their commitment to improved sustainable development performance."

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Responsible mining for miners - coal to save forests

Nigerian environmental experts have called on the government to reintroduce coal mining in a move aimed at solving the country's current power crunch and salvaging its disappearing forests.

WINDHOEK -
Environmentalists in petroleum rich Nigeria, West Africa's economic giant, should be bracing themselves for a major war of words with their radical counterparts from the developed world.
In a surprising sign of defiance to the long-standing conservation tradition, environmental experts have called on the President Umaru Yar'Adua government to reintroduce coal mining to end the country's current energy crunch. The environmentalists are not only concerned about Nigeria's power generation problems, but say the move will help slow down forest losses and desertification.

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No more confusion when it comes to airtravel expenses

Kayak.com will offer its new interface to users to help them calculate the latest convoluted prices of air travel. With the latest changes in air travel expenses, frequent flyers are confused, but as of mid-July that will no longer be. Go to kayak.com to get your airfair calculated.

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New data mining tool

Teradata Corporation, A global provider in enterprise data warehousing, recently introduced Teradata Warehouse Miner 5.2, which embeds 50 new statistical data mining functions from its partners into the Teradata Database to accelerate the data mining process. Data mining is a powerful technology that discovers patterns in customer, financial and operational data that can provide valuable business insights.

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