05/03/2010
Steel giant and iron-ore producer in dispute
Arcelor Mittal South Africa Ltd, a subsidiary of the global steel producer, said it remains of “the firm opinion” that its long-term supply agreement with Kumba Iron Ore Ltd, remains valid and binding despite it being declared ‘void’ by the Anglo American plc subsidiary
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Steel giant and iron-ore producer in dispute
Arcelor Mittal South Africa Ltd, a subsidiary of the global steel producer, said it remains of “the firm opinion” that its long-term supply agreement with Kumba Iron Ore Ltd, remains valid and binding despite it being declared ‘void’ by the Anglo American plc subsidiary
Chinese miners trapped by flood
Flooding at a coal mine in China has left 31 workers trapped since Monday, despite ongoing rescue effortsKP Monitor visits Zimbabwe
South Africa’s Abbey Chikane, a founder chairman of the Kimberley Process, has visited Zimbabwe on a fact-finding mission, and to assess the situation on the Marange diamond fieldsPermit reinstated for First Uranium tailings project
First Uranium Corp has received environmental authorisation for tailings storage at its Mine Waste Solutions projectSudbury strike avoided
Xstrata plc has avoided a strike at its Sudbury nickel operations in Canada after reaching a tentative agreement with the United Steelworkers Union Local 2020Australian tension after retrenchment
Ethnic tensions rose in Australia this week after an engineering contractor retrenched 54 local workers while retaining up to 70 similarly-skilled Filipinos at a Chinese-owned iron-ore project in the Pilbara region of Western AustraliaSouth African strike update
Most of the employees at Platinum Australia Ltd’s Smokey Hills mine in South Africa have been on strike for the past week.Orkney Mine fire
Aurora Empowerment Systems Ltd evacuated its Orkney mine, in South Africa’s North West province, after a fire broke out undergroundExploration & Development
Nyota prefeasibility confirms economics
An independent prefeasibility study for development of Mantra Resources Ltd’s Nyota uranium project in Tanzania has confirmed its potential, according to the company
Haquira update outlines 5.3Mt copper
Overall resources within Antares Minerals Inc’s Haquira copper-molybdenum-gold project in southern Peru are estimated to contain 5.3Mt (11,700Mlb) of copperRainy River rises to 5Moz
A new resource estimate for Rainy River Resources Ltd’s namesake gold deposit in northern Ontario has increased contained gold to just over 5MozSouth African wine exploration
A South African state-owned entity has angered Western Cape wine growers over a decision to explore for minerals in the famous Stellenbosch wine regionNalunaq revival
Angel Mining plc has achieved the first gold pour at its Nalunaq gold mine in southern Greenland, reviving operations there after completion of the acquisition of the suspended underground mine about five months agoFirst Magnetite Range resource
Accent Resources NL has completed a joint initial resource estimate with Micromine Consulting for the company’s Magnetite Range iron-ore deposit in Western AustraliaNew Millennium advances DSO plan
New Millennium Capital Corp has completed a feasibility study for development of its direct shipping iron ore (DSO) project near Schefferville in QuebecTiomin tries again to shift Kwale
Tiomin Resources Inc has signed a binding deal to sell its Kwale mineral sands project in Kenya to Base Iron LtdMarenica raises resource
A new resource estimate for the Marenica uranium property in Namibia has more than doubled contained uranium to 85Mlb from 32.7Mlb, according to owner Marenica Energy LtdDebarwa results
Sunridge Gold Corp has completed further drilling at the Debarwa deposit, part of its Asmara project in Eritrea.Berkeley estimate updated
Berkeley Resources Ltd has completed an updated resource estimate for its Salamanca uranium project in SpainBorealis deal
Sage Gold Inc and Gryphon Gold Corp have signed a binding letter of intent to form a joint venture for the Borealis gold project in Nevada.Inata first pour
Avocet Mining plc has produced its first gold from the Inata mine in Burkina Faso, shipping 11,000oz to South Africa for refining.Zazu moves Lik towards prefeasibility
A scoping study by consultant Scott Wilson Roscoe Postle has indicated that a project based on the Lik base-metals deposit in northwest Alaska would be highly leveraged to the zinc priceMullaquana results
The first stage of UraniumSA Ltd’s infill drilling programme at its Mullaquana property in South Australia has been completed on a 100m pattern at the Black Bush prospectSulawesi grant
Rio Tinto has received a mining permit for its planned lateritic nickel-cobalt project on the Indonesian island of SulawesiPearse South assays
Kimberley Metals Ltd has received the first results from reverse-circulation drilling at the Pearse South gold zone, part of its Mineral Hill property in New South WalesAnatolia intercepts
Exploration drilling at Anatolia Minerals Development Ltd's 95%-owned Çöpler gold-silver project in Turkey has intersected sulphide mineralisation beyond planned pit limits.Finance
Chilean aftershocks for copper
Copper reached a five-week high this week, the price having jumped after production of the metal was interrupted by the earthquake in Chile last weekend.
India government to sell interest in state mining company
The Indian government is to sell over 332 million shares in state-owned NMDC LtdJubilee in talks
Jubilee Platinum plc has issued a cautionary statement, saying that it has “entered into negotiations that might affect the share price”Rising Australian exports
With increasing demand from China, Australian commodity exports are forecast to rise by 19% next financial yearChariot in Chinese company’s sights
Toronto-listed Chariot Resources Ltd will be purchased by China Sci-Tech Holdings Ltd after the two parties agreed to a takeover this weekPallinghurst and Jupiter strike a deal
Described as a “company transforming” deal, an investment group led by Pallinghurst Resources Ltd will exchange a half stake in a South African manganese project for more than a billion shares in Australian junior Jupiter Mines LtdMining royalties at risk in Western Australia
The Western Australian Chamber of Minerals and Energy (CME) has warned Premier Colin Barnett that future investment in the state is at risk if mining royalties are not discussedProfit pours in
Peninsula Gold Ltd has delivered a maiden profit following its first gold pour at the Raub project last month.Petra sells Cullinan Heritage
Petra Diamonds Ltd has sold the 507ct Cullinan Heritage for US$35.3 million, the highest sale on record ever achieved for a rough diamondLonmin sets up Marikana
Lonmin plc has signed two contracts for the construction of chrome-recovery plants (CRPs) to treat the tailings from the UG2 concentrators at its Marikana operationsFresnillo profits rise
Fresnillo plc more than doubled profit after tax in 2009 after benefitting from higher metal prices and record silver outputNorton raises A$20 million
A Chinese company has injected almost A$20 million (US$18 million) into ASX-listed Norton Gold Fields Ltd.Potential copper acquisition
China Daye Non-Ferrous Metals Mining Ltd is negotiating the acquisition of a copper mine with a reserve of at least 0.2Mt.Vedanta in ‘surprise’ bond offering
Vedanta Resources plc has launched a US$805 million convertible bond (CB) to refinance its debt and for general corporate purchasesGlencore assists Doe Run
The mining division of Doe Run Co has signed a letter of intent through which Swiss company Glencore will provide a credit line that will serve as working capital for the resumption of its operations.THL takes stake
Trendfield Holdings Ltd subsidiary, THL Mongolia Ltd, has purchased 70% of Mongolian exploration company KMNG LLC.Rambler in gold agreement with Sandstorm
Rambler Metals & Mining plc has sold forward 25% of the first 175,000oz of payable gold from its Ming mine in Newfoundland, as well as additional future production, for a total of US$20 million.Chilean aftershocks for copper
Copper reached a five-week high this week, the price having jumped after production of the metal was interrupted by the earthquake in Chile last weekendNewmont record cash flows
Newmont Mining Corp says it doubled operating cash flow to a record US$2.9 billion in the year to end-December 2009 as the gold price reached an all-time high and pushed revenue to US$7.7 billionRio Tinto buys more Oyu Tolgoi exposure
Rio Tinto plc has purchased an additional C$244.7 million (US$232.5 million) stake in Ivanhoe Mines Ltd under a 2008 agreement, boosting its exposure to Mongolia’s Oyu Tolgoi copper-gold project.Severstal moves on Crew Gold
Severstal OAO, the Russian steel and mining company, will make a bid for the shares in Crew Gold Corp that it does not already own, valuing the company at about US$400 million.Deepwater port to boost iron-ore exports
A new deep-water port for the export of iron ore from Western Australia is under considerationTrans-Siberian debt conversion
The two largest shareholders in Trans-Siberian Gold plc have agreed to convert their loans into shares in the companyAnglo American puts five coal projects up for sale
Anglo American plc has put five undeveloped coal exploration assets in Australia up for saleMalaga positive
Tungsten producer Malaga Inc says it will have a positive cash flow by April, and be profitable before year-endFifth Column
Scottish opportunities
Chris Sangster recalls the time when it was all going so well for him – until disaster struckReports
Growing kidnapping threat
Kidnapping as an extortion tool has become a growth industry in many of the countries where mining companies operate. How can the industry protect itself and key personnel from this threat? Jonathan Craymer investigates.
Mending broken bridges
In September 2008, prior to the collapse of global markets, the chairman of one of China’s major banking groups confidently predicted that the country’s state-owned enterprises (SOEs) would use their capital muscle to take over resource industries during the downturnMinor Metals: February
The minor metals show some strength as China moves into the year of the tigerPeople and Appointments
BHPB: Chairman retires
BHP Billiton chairman and non-executive director Don Argus (pictured) will retire at the end of this monthNoko moves on
David Noko, managing director of De Beers Consolidated Mines, the group’s South African mining entity, has stepped down after eight years with the companyEx-Rio Tinto director moves to Kalahari
AIM-listed Kalahari Minerals plc has appointed Jonathan Leslie as chief executive officer of Extract Resources Ltd, in which Kalahari has a 40.4% stakeKellow takes post
BHP Billiton has appointed Glenn Kellow as president of its stainless steels division from the start of next monthNew MD for Northern Uranium
George Bauk has joined Perth-based Northern Uranium Ltd as managing directorJournal Team Diary
