Tuesday, July 22, 2014

Major ground collapse at Zimbabwe’s biggest platinum mine

From mineweb.com

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London (Mineweb) -

After South Africa and Russia , Zimbabwe is the world’s third largest platinum producer, and its annual output will have received a serious dent with a mine collapse at what is believed to be the country's largest platinum mine by output, Zimplats' Bimha, which will cut its production in half for over a year while steps are taken to restore operations.

Thankfully there was no loss of life or major equipment in the collapse which was, according to a statement by Zimplats’ parent company, Impala Platinum, triggered by the accelerated deterioration of ground conditions associated with a major shear zone - the Mutambara Shear- that cuts through half of the mining area.

The fault was first identified in 2011 but has become more problematic over the last year both along the declines and within the stoping footprint of the Bimha Mine. A number of initiatives to address regional ground stability and employee safety have been undertaken during this period. Despite these efforts, significant and accelerated ground deterioration was observed from May this year, leading to a decision to abandon and permanently close approximately half of the Bimha mining footprint in areas where major falls of ground have occurred. There had obviously been a significant deterioration since the company reported in the first quarter that long term stabilisation of the areas affected by the Mutambara Shear had progressed well in the quarter “with the full rehabilitation of the area expected to be completed by the end of the financial year.” The latest statement now says it will take 15 months before normal operations can be resumed at Bimha – a loss of 45,000 ounces a year in the meantime.

With annual output of around 90,000 ounces of platinum a year, worth a gross US$130 million at current prices, Bimha is Zimplats’ largest source of mined platinum, and Zimplats is Zimbabwe’s largest producer.Impala notes that Zimplats was expected to reach an annual output level of 270,000 ounces of platinum in 2015 as the Phase 2 expansion project completed its ramp up. Due to the Bimha collapse, this target has now had to be postponed to some time in 2016.
The global platinum market is, according to analysts, facing a huge deficit this year, primarily due to the impact of the South African strikes. While Bimha’s lost output only amounts to less than 1% of world platinum production it will still further add to the potential squeeze on supplies anticipated by many over the next 12 months.

Alasdair Macleod after chat with SGTReport

From SGTreport.com

Paul Craig Roberts - Guilt By Insinuation

How American propaganda works

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Paul Craig Roberts

Why hasn’t Washington joined Russian President Putin in calling for an objective, non-politicized international investigation by experts of the case of the Malaysian jetliner?

The Russian government continues to release facts, including satellite photos showing the presence of Ukrainian Buk anti-aircraft missiles in locations from which the airliner could have been brought down by the missile system and documentation that a Ukrainian SU-25 fighter jet rapidly approached the Malaysian airliner prior to its downing. The head of the Operations Directorate of Russian military headquarters said at a Moscow press conference today (July 21) that the presence of the Ukrainian military jet is confirmed by the Rostov monitoring center.

The Russian Defense Ministry pointed out that at the moment of destruction of MH-17 an American satellite was flying over the area. The Russian government urges Washington to make available the photos and data captured by the satellite.

President Putin has repeatedly stressed that the investigation of MH-17 requires “a fully representative group of experts to be working at the site under the guidance of the International Civil Aviation Organization (ICAO).” Putin’s call for an independent expert examination by ICAO does not sound like a person with anything to hide.

Turning to Washington Putin stated: “In the meantime, no one [not even the “exceptional nation”] has the right to use this tragedy to achieve their narrowly selfish political goals.”

Putin reminded Washington: “We repeatedly called upon all conflicting sides to stop the bloodshed immediately and to sit down at the negotiating table. I can say with confidence that if military operations were not resumed [by Kiev] on June 28 in eastern Ukraine, this tragedy wouldn’t have happened.”

What is the American response?

Lies and insinuations.

Yesterday (July 20) the US Secretary of State, John Kerry confirmed that pro-Russian separatists were involved in the downing of the Malaysian airliner and said that it was “pretty clear” that Russia was involved. Here are Kerry’s words: “It’s pretty clear that this is a system that was transferred from Russia into the hands of separatists. We know with confidence, with confidence, that the Ukrainians did not have such a system anywhere near the vicinity at that point and time, so it obviously points a very clear finger at the separatists.”

Kerry’s statement is just another of the endless lies told by US secretaries of state in the 21st century. Who can forget Colin Powell’s package of lies delivered to the UN about Saddam Hussein’s “weapons of mass destruction” or Kerry’s lie repeated endlessly that Assad “used chemical weapons against his own people” or the endless lies about “Iranian nukes”?

Remember that Kerry on a number of occasions stated that the US had proof that Assad crossed the “red line” by using chemical weapons. However, Kerry was never able to back up his statements with evidence. The US had no evidence to give the British prime minister whose effort to have Parliament approve Britain’s participation with Washington in a military attack on Syria was voted down. Parliament told the prime minister, “no evidence, no war.”

Again here is Kerry declaring “confidence” in statements that are directly contradicted by the Russian satellite photos and endless eye witnesses on the ground.

Why doesn’t Washington release its photos from its satellite?

The answer is for the same reason that Washington will not release all the videos it confiscated and that it claims prove that a hijacked 9/11 airliner hit the Pentagon. The videos do not support Washington’s claim, and the US satellite photos do not support Kerry’s claim.

The UN weapons inspectors on the ground in Iraq reported that Iraq had no weapons of mass destruction. However, the fact did not support Washington’s propaganda and was ignored. Washington started a highly destructive war based on nothing but Washington’s intentional lie.

The International Atomic Energy Commission’s inspectors on the ground in Iran and all 16 US intelligence agencies reported that Iran had no nuclear weapons program. However, the fact was inconsistent with Washington’s agenda and was ignored by both the US government and the presstitute media.

We are witnessing the same thing right now with the assertions in the absence of evidence that Russia is responsible for the downing of the Malaysian airliner.

Not every member of the US government is as reckless as Kerry and John McCain. In place of direct lies, many US officials use insinuations.

US Senator Diane Feinstein is the perfect example. Interviewed on the presstitute TV station CNN, Feinstein said: “The issue is where is Putin? I would say, ‘Putin, you have to man up. You should talk to the world. You should say, if this is a mistake, which I hope it was, say it.’”

Putin has been talking to the world nonstop calling for an expert non-politicized investigation, and Feinstein is asking Putin why he is hiding behind silence. We know you did it, Feinstein insinuates, so just tell us whether you meant to or whether it was an accident.

The way the entire Western news cycle was orchestrated with blame instantly being placed on Russia long in advance of real information suggests that the downing of the airliner was a Washington operation. It is, of course, possible that the well-trained presstitute media needed no orchestration from Washington in order to lay the blame on Russia. On the other hand, some of the news performances seem too scripted not to have been prepared in advance.

We also have the advanced preparation of the youtube video that purports to show a Russian general and Ukrainian separatists discussing having mistakenly downed a civilian airliner. As I pointed out earlier, this video is twice damned. It was ready in advance and by implicating the Russian military, it overlooked that the Russian military can tell the difference between a civilian airliner and a military airplane. The existence of the video itself implies that there was a plot to down the airliner and blame Russia.

I have seen reports that the Russian anti-aircraft missile system, as a safety device, is capable of contacting aircraft transponders in order to verify the type of aircraft. If the reports are correct and if the transponders from MH-17 are found, they might record the contact.

I have seen reports that Ukrainian air control changed the route of MH-17 and directed it to fly over the conflict area. The transponders should also indicate whether this is correct. If so, there clearly is at least circumstantial evidence that this was an intentional act on the part of Kiev, an act which would have required Washington’s blessing.

There are other reports that there is a divergence between the Ukrainian military and the unofficial militias formed by the right-wing Ukrainian extremists who apparently were the first to attack the separatists. It is possible that Washington used the extremists to plot the airliner’s destruction in order to blame Russia and use the accusations to pressure the EU to go along with Washington’s unilateral sanctions against Russia. We do know that Washington is desperate to break up the growing economic and political ties between Russia and Europe.

If it was a plot to down an airliner, any safety device on the missile system could have been turned off so as to give no warning or leave any telltale sign. That could be the reason a Ukrainian fighter was sent to inspect the airliner. Possibly the real target was Putin’s airliner and incompetence in implementing the plot resulted in the destruction of a civilian airliner.

As there are a number of possible explanations, let’s keep open minds and resist Washington’s propaganda until facts and evidence are in. In the very least Washington is guilty of using the incident to blame Russia in advance of the evidence. All Washington has shown us so far are accusations and insinuations. If that is all Washington continues to show us, we will know where the blame resides.

In the meantime, remember the story of the boy who cried “wolf!” He lied so many times that when the wolf did come, no one believed him. Will this be Washington’s ultimate fate?

Instead of declaring war on Iraq, Afghanistan, Libya, Somalia, and Syria, why did Washington hide behind lies? If Washington wants war with Iran, Russia, and China, why not simply declare war? The reason that the US Constitution requires war to begin with a declaration of war by Congress is to prevent the executive branch from orchestrating wars in order to further hidden agendas. By abdicating its constitutional responsibility, the US Congress is complicit in the executive branch’s war crimes. By approving Israel’s premeditated murder of Palestinians, the US government is complicit in Israel’s war crimes.

Ask yourself this question: Would the world be a safer place with less death, destruction and displaced peoples and more truth and justice if the United States and Israel did not exist?

Gold Yields Fall To The Lowest Levels Ever


Another brilliant report from SRSrocco

Takeaway points:

The top five gold miners’ average yield declined another 5% in 2013. Average yield fell from 1.26 grams per ton (g/t) in 2012 to 1.20 g/t in 2013.

Newmont Mining:

2005 Waste Rock/Production Ratio = 52 metric tons/ gold oz

2013 Waste Rock/Production Ratio = 113 metric tons/ gold oz

2005 Newmont consumed 19 gallons of diesel in its operations to produce one ounce of gold. 

By 2012, this increased to a staggering 31 gallons per ounce…. a 63% increase in seven years.

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Link: http://srsroccoreport.com/top-gold-miners-yields-fall-to-the-lowest-level-ever/top-gold-miners-yields-fall-to-the-lowest-level-ever/

With the results for 2013 finally in, the top gold miners average yield fell to the lowest level ever.  This is a surprising development considering that the average price of gold dropped to a low of $1,411 in 2013.  Normally when the price of gold falls, gold miners switch to higher grades to remain profitable.

However, the top five gold miners’ average yield declined another 5% in 2013.  If we look at the chart below, the top five gold miners (Barrick, Newmont, AngloGold, Goldfields* & Goldcorp) average yield fell from 1.26 grams per ton (g/t) in 2012 to 1.20 g/t in 2013.

(*Note:  GoldFields spun-off three mines into a new company called Sibanye Gold in 2012.  The data below includes both companies listed as GoldFields.)

Top 5 Gold Production & Average Yield 2005-2013

Furthermore, the average gold yield for the group declined from 1.68 g/t in 2005 to 1.20 g/t in 2013.  Which means these miners lost 0.48 g/t in just eight years… a 29% decline.  That might not sound like a lot, but if we do the math… it’s a substantial loss.

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US Dollar Dying by a Thousand Cuts - China signs currency swap worth 150 billion yuan with Switzerland

From reuters.com

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(Reuters) - China signed a bilateral currency swap agreement worth 150 billion yuan ($24.17 billion) with the Swiss central bank, which can invest up to 15 billion yuan in China's bond market.

The three-year swap, signed on Monday, will "provide liquidity support for bilateral economic and trade exchanges and help maintain financial stability," the People's Bank of China (PBOC) said in a statement on its website, www.pbc.gov.cn.

The swap deal will provide liquidity support for development of the offshore yuan market in Switzerland and will be extended if needed, the PBOC said.

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Simon Black - Echoes of 1914

http://www.sovereignman.com/podcast/podcast-012-echoes-of-1914-14708/

Click on image to access podcast

Monday, July 21, 2014

Greg Hunter interviews Egon von Greyerz

From Greg Hunter

Rob Kirby- Significant Advances in Gold & Silver Prices within 3 Months

From Greg Hunter

For Lovers of Foil and Aliens

The Truth Is Out There - but who would have thought Weird Al Yankovic would have found it? Pure genius, if you don't laugh out loud at this video you haven't been following this blog long enough.

From CollegeHumor

Gold, oil prices likely to stay on uptrend

Sun 20 Jul 14 | 07:31 PM ET
Juerg Kiener, MD & CIO of Swiss Asia Capital, says geopolitical tensions may be here to stay for the time being and hence, prices for gold and oil are unlikely to ease.