The Middle East and North Africa will be especially hard hit by climate change in the coming decades, the World Bank said in a report yesterday, saying the region will see less rainfall, more recording-breaking temperatures and rising sea levels. Should temperatures rise as expected, the hotter conditions are likely to hit the region’s $ 50 billion tourism industry and further worsen its food security since many countries in the region — especially Gulf states — depend heavily on imports to Read more [...]

By Pavon Jordan (The Globe and Mail) - West Africa-focused gold miners Keegan Resources Inc. and PMI Gold Corp have agreed to an all-stock merger to create a $700-million company that combines their asset- and balance sheet-strengths and lets them fast-track mines into production while gold prices are still high. The merger comes at a time when access to financing is one of the key challenges facing global miners, especially those not yet in development. It marries Keegan, a company with Read more [...]

By Roland Hood After peaking at $1,755 last Friday, gold prices have settled back down to be almost unchanged on pre-Thanksgiving closing prices. Gold on the January contract was up just 0.23% at $1,725 per ounce shortly after US markets opened on Thursday. Of course, the only practical way for most private investors to invest in gold is through exchange-traded funds. Like gold, the $63bn SPDR Gold Trust has given up last week's gains and was up just 0.8% on the last five trading days at $167.26 Read more [...]

By Associated Press : Wednesday, September 26 JOHANNESBURG — Disruptions to South Africa’s key mining sector increased as AngloGold Ashanti said Wednesday that strikers have halted all its operations in the country, which provide 32 percent of the multinational’s gold production. Strikes demanding higher salaries began at a Lonmin Platinum mine Aug. 10 and have spread to several others in the mining sector vital to Africa’s largest economy. Anglo American Platinum workers have been Read more [...]