GG Suspends El Morro Operation
* Says suspends all operations at the project
* Says will meet with environmental officials
April 30 (Reuters) – Goldcorp Inc, Canada’s No. 2 gold miner, said environmental permit approval for its El Morro copper-gold project was suspended by the Supreme Court of Chile.
Sociedad Contractual Minera El Morro, which is 70 percent owned by Goldcorp and rest by New Gold Inc, suspended all field work at the project, the companies said.
The permit was cancelled on Friday on the grounds that the environmental agency had not adequately consulted nor compensated the indigenous people.
Miners in Chile have been hit by protests by indigenous communities demanding stricter environmental protections and wider distribution of the benefits of a long mining boom.
Goldcorp had approached the Supreme Court against the striking down of its permit by a lower court in February. The approval for the permit was issued on March 14, 2011.
El Morro, which holds reserves of 6.1 million pounds of copper and 8.4 million ounces of gold, is expected to cost $3.9 billion to develop.
The companies will meet with environmental officials to confirm the scope of permitted activities pending compliance with the court’s decision.
The company’s shares, which have fallen over 5 percent since it reported its a lower profit last week, closed at C$38.38 on Friday on the Toronto Stock Exchange.
FTSE 100 – 0.7pc , CAC slipped- 1.6pc, DAX declined -0.6pc, IBEX – 1.9pc and the MIB -1.3pc
MADRID (MarketWatch) — European Union officials are preparing a so-called “Marshall Plan for Europe,” aimed at resurrecting growth in countries hard-hit by austerity measures, such as Spain, El Pais said in its Sunday online edition, citing European officials with knowledge of the plan. The plan will be presented at the next summit, after the French elections, the newspaper said. It embraces the ideas of French presidential candidate Francis Hollande to employ the underused European Investment Bank as leverage to make investments, create jobs and grow. The plan is reportedly worth 200 billion euros ($265 billion).
Breitbart Coroner Poisoned
Secret Service, CIA, or Mossad or MI6? That is the only question here. Rule by political assassination. I don’t think we ever saw the real dirt Breit Bart dug up. His staff was intimidated or brought off. Thanks to this fine American for being willing to die for the truth. Obama might want to assassinate everyone along with the Charlie Rose gang. As Stalin said ‘no men, no problems’. Obama would love a nation of homosexual and women to run.
Assistant on The View shot in the stomach in New
York deli . . . for taking too long ordering a sandwich
Women are extraordinarily insensitive when ordering sandwiches during the work week. They will be in line for 20 minutes gabbing with their friends then take another five minutes at the counter to order. Still the solution is to grab an apple and banana or skip lunch and let them get fat. Still you can’t shoot them, that is very, very bad form. I used to count the number of women ahead of me in the sandwich line and grab and apple and banana if there was more than 1 group of females. New Yorkers are tough eh. Probably someone from Goldman Sachs. Notice Obama with his supporters. Evil USA females in the USA gave us Bush 1, Clinton, Bush 2 and Obama. Whatever makes them ”feel secure’ the constitution be damned. I’m not sure when Christ comes back if you females will be allowed to vote if there is voting. Maybe your husband will have to get your sandwich so you don’t hold up the working day. Hand guns are outlawed in NYC. Too bad her femme boyfriend did not have a gun on him and shoot back! Cops will NEVER be there to protect you stupid females. Sure you can have your husband thrown out by the cops and your boyfriend move in but that is it. American women and LGBTs have destroyed this country. They will deserve what is coming to them. Women are the ‘majority’ of the evil in this country and since they are all feminist and abortion lovers in the USA, what more can you say. America is too far gone due to its evil women and as they reach higher places the evil will get worse. Obama and Bush I both had LGBT and women as prime movers in their administrations.
A California Startup Taps the Sun to Pump Oil in the Middle East
Sunco Goes for 5.3 Billion to Energy Partners
Evil and Cowardly USA Military Officers Invade Wall Street
From bombing goat herders and children and dropping DU all over Iraq and Afghanistan and trying to walk the hero line against countries with no airforce to bombing mom and pop on Wall Street.
Notice Anglomason in illuminati pose on his book cover. Any relative to Ken Lay? Probably eh. Any officer at the rank of Colonel or above or Commander and above in the USN is a satanist or practicing sexual deviant. It is the new pentagram way. What decent leadership the USA military had was been forced out by Bush/Clinton/Obama terror regimes.
Wall Street and the USA military a match made in hell.
“Why the United States Military Should Run Corporate America”…
Evil Rockefeller Puppet Tim Geithner to Float UST Floaters at Worst Time Ever in Effort to Bring Down $ Post 2012 Election
..“I don’t get why the Treasury thinks floaters are a good idea with short-term rates at zero percent, as they only have one way to go, and that’s up,” said James Bianco, president of Bianco Research LLC in Chicago in an interview on April 24.
“They should be lessening the cost of financing the United States government for the taxpayers,” Bianco said. “The Treasury should be issuing 100 year or perpetual bonds until the market can’t stand it anymore to lock in these rates.”
Today’s Petroleum Markets
Dallas FED Mfg Index Contracts
WASHINGTON (MarketWatch) — A Texas-area manufacturing turned negative in April, the Dallas Fed said Monday. The index fell to -3.4 after a 10.8 reading in March, as production slowed markedly. Earlier, Chicago PMI data was weaker than expected but still positive during the month. The regional manufacturing data for April generally has been slower but still positive.
Fed Sends Williams Out to Attack Gold, Pump USE Dollar Despite Dire Data
(Reuters) – San Francisco Federal Reserve President John Williams is more optimistic about the U.S. economy now than he was three months ago and does not see the need for further monetary measures at the moment, he was quoted on Monday as saying.
Williams told German financial daily Handelsblatt in an interview published on Monday that if U.S. unemployment stayed at 8 percent or rose substantially and growth slowed, then this would raise the question about further monetary measures.
“But I’m today more optimistic about the economy than in January,” Williams, a voter this year on the Fed’s policy-setting panel, was quoted as saying.
“So far there is no need for further monetary measures,” he said, pointing to an improvement in U.S. consumption and available income as well as positive signs in the property market.
The Fed, which is charged with both fighting inflation and fostering maximum employment, has kept short-term interest rates near zero since December 2008 to pull the economy from its worst downturn since the Great Depression.
The central bank has also bought $2.3 trillion in long-term securities and signaled it expects to keep rates low through late 2014 to bolster the recovery further.
Williams had said as recently as February that more bond-buying could well be in the cards.
He said he was very concerned about a renewed intensification of the euro zone’s debt crisis. “The worst is not over yet,” Williams said, adding that European countries needed to find the right balance between austerity and stimulating growth.
Wall Street and Foreign Banksters Buy Out Tea Party Congressional Representatives
Tea Party favorites such as Stephen Fincher of Tennessee were swept into Congress on a wave of anger over government-funded bailouts of banks.
Now those incumbents are collecting thousands of dollars for re-election campaigns from the same Wall Street firms whose excesses they criticized. They have taken no significant steps to curb them or prevent future taxpayer-financed rescues.
Republican freshmen have made clear their disdain for expanding government, and openly opposed a financial regulatory overhaul enacted by Democrats in 2010 before the newcomers arrived in Washington. Their ranks include ten Tea Party-backed freshmen on the House Financial Services Committee, part of a force that won election in a populist backlash to government spending that included emergency lending to major banks and bailout of firms including U.S. automakers.
Still, the lawmakers haven’t passed, considered or even introduced legislation to address concerns about “too-big-to- fail” banks voiced by members of both parties and such Federal Reserve bank presidents as Richard Fisher of Dallas and Jeffrey Lacker of Richmond, Virginia.
“I haven’t seen any of them putting forth legislation on breaking up the big banks or on other things that would genuinely prevent a bailout next time,” said Marcus Stanley, policy director of Americans for Financial Reform, a Washington- based umbrella group of organizations that supported the 2010 Dodd-Frank Act and other financial regulations..
Worker Spending Rises and Chicago PMI Tanks
Household purchases, which account for about 70 percent of the economy, increased 0.3 percent, after a revised 0.9 percent gain the prior month that was stronger than first reported, Commerce Department figures showed today in Washington. The median estimate of 72 economists surveyed by Bloomberg News called for a 0.4 percent rise. Incomes advanced 0.4 percent, the most in three months, and the savings rate rose.
A job market that’s on the mend and warmer weather underpinned household purchases, which grew in the first quarter by the most in more than a year as sales climbed at car dealerships and retailers like Target Corp. (TGT) A pickup in hiring and wages is needed to maintain this quarter’s pace of spending.
“This report sets up fairly well for the second quarter,” said Peter Newland, a U.S. economist at Barclays Capital Inc. in New York. “What was encouraging was that the income numbers improved. Our expectation is that job growth does increase gradually” this quarter, he said.
Separately, the Institute for Supply Management-Chicago Inc. said today its business barometer decreased to 56.2 in April from 62.2 a month earlier. Economists forecast the gauge would fall to 60, according to the median of 55 estimates in a Bloomberg News survey. Readings greater than 50 signal growth…
S&P 500 Poised to Halt 4-Month Rise on Economic Concern
he Standard & Poor’s 500 Index (SPX)fell, poised to snap a four-month advance, as data showed business activity expanded at the slowest pace since November 2009 and Spain’s economy entered into a recession.
Commodity, industrial and financial shares had the biggest losses in the S&P 500 among 10 industries. Humana Inc. (HUM) tumbled 6.5 percent as profit at the provider of U.S.-backed Medicare insurance missed analysts’ estimates. NYSE Euronext (NYX) slumped 4.9 percent after reporting a 44 percent drop in earnings. Barnes & Noble (BKS) Inc. soared 62 percent after Microsoft Corp. (MSFT) said it will invest $300 million in a venture with the bookstore chain.
The S&P 500 lost 0.6 percent to 1,395.37 at 10:55 a.m. New York time. The benchmark measure for American equities has dropped 0.9 percent in April. The Dow Jones Industrial Average fell 37.05 points, or 0.3 percent, to 13,191.26 today.
“We see a shift out of risk assets,” Matt McCormick, who helps oversee $6.2 billion at Bahl & Gaynor Inc. in Cincinnati, said in a telephone interview. “Europe is still considerably weak. We’re in a recovery, albeit a tepid one. Expectations have gotten too high.”
Equities fell as the Institute for Supply Management- Chicago Inc. said its barometer decreased to 56.2 during the month, lower than the most pessimistic forecast in a Bloomberg News survey, from 62.2 in March. Spain’s economy contracted in the first quarter, putting the euro region’s fourth-largest economy into its second recession since 2009. Consumer spending in the U.S. climbed in March, separate data showed.
Investors also watched earnings data as about 74 percent of S&P 500 (SPXL1) companies that reported results since April 10 have beaten earnings projections by an average of 7 percent, according to data compiled by Bloomberg….