In brief: 'Positive' gold results for Teeling company
JOHN Teeling's Connemara Mining has said it recorded "positive results" for gold from a geological survey of its licences on the Wicklow/ Wexford border. While it cannot yet definitively say whether it has found large-scale gold deposits, it is believed the characteristics of the rock underground are what explorers look for when they are searching for the precious metal. Some drilling in the region has found gold and the company said that characteristics found to the west of one of its licence blocks indicated a "deep-seated structural zone" and there were several other features "consistent with gold mineralisation".
Crude rises on Middle East tension
Oil rose for the first time in three days as clashes in Syria raised tension in the Middle East and a report indicated China's manufacturing may contract at a slower pace in July. Futures gained 0.4pc as the unrest in Syria has forced tens of thousands of people to seek shelter across the borders in Turkey, Iraq and Lebanon. The preliminary reading of a Chinese purchasing managers' index showed it would be at the highest level since February. Oil slumped 4pc percent on Monday on Europe's debt crisis.
Ruling for improved Lagan redundancy
THE Labour Court has recommended that 25 workers at the Lagan Brick plant should be paid an improved redundancy package. The workers at the plant in Kingscourt, Co Cavan, were involved in a seven-month dispute with the company. This follows a Labour Court hearing last week, which the company declined to attend. Last December, the company decided to close Kingscourt.
Auction of UK 4G to happen by year-end
UK telecoms regulator Ofcom said yesterday the auction of spectrum for 4G services would get under way by the end of the year, laying the path for high-speed mobile internet to be rolled out in 2013. The plans should see the high-speed connections needed for video, gaming and downloading films and music, reach at least 98pc of the population, the regulator said.