mine shaft
Haywood’s Heritage Moment:  From 1100-1500 AD the status of the miner was much changed from Roman times. The trade of mining, which included shaft sinking, became a respected profession. Agricola, in his book De Re Metallica published in 1556, gives a number of references to shaft sinking. Advance rates at the end of this period were probaly in the range of one to two metres per month. Source:Canadian Institute of Mining, Metallurgy and Petroleum
Concerns over EU Economy Grow as Greece Elects Anti-Austerity Government
News for the week was dominated by the election of the left-wing Syriza party in Greece, whose election platform centred on anti-austerity rhetoric, concerning EU leaders. It was a decisive victory for the hardline party, falling just two seats short of an outright majority; shortly after the victory, a coalition was signed with the small Independent Greeks party which also opposes the EU austerity program. In addition, the party announced its opposition to a mine currently being developed by a Canadian gold company. In commodities, gold retreated after last week touching the $1,300 level, before a Friday recovery finishing at $1,285 per ounce (down 0.77%) while silver also retreated (down 7%) and finishing at $17.26 per ounce. Platinum was also down this week (down 2.3%) and finishing at $1,240 per ounce, while palladium was relatively flat at $772 per ounce. In base metals, copper finished at $2.51 per pound, similar to last week, as LME copper inventories continue to rise. Nickel (up 5.3%), lead (up 0.62%) and zinc (up 1.6%) finished at $6.85, $0.84 and $0.96 per pound respectively. the UxC Broker Average Price (BAP) of uranium continued its steady rise from last week, finishing at $37.19 /lb U3O8, while WTI crude fell below before a Friday recovery which saw the price move briefly above the $48/bbl mark before finishing at $47.53/bbl.
Here’s an overview of what’s in the Dig this week:
Weekly Dig image

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