MJ 03/02/12
Industry consolidation signalled by Xstrata-Glencore
The international mining industry is facing a new round of corporate amalgamation following confirmation that Glencore International plc and Xstrata plc are in talks regarding a possible US$80 billion ‘merger of equals’ Full story...African states move to increase their share
The past week has seen a number of potentially significant developments for mining companies operating in the African states of Mali and Ghana, with the possibility of revised fiscal arrangements in each state Full story...BHP sells Richard’s Bay Minerals stake to Rio, exits mineral sands
BHP Billiton (BHPB) said it will sell its 37% stake in South African mineral-sands operation Richards Bay Minerals (RBM) to operator Rio Tinto for an undisclosed sum Full story...
Comment
Letter: Mine safety
In your leader, ‘Lest we Forget’, January 20, 2012, you commemorate the deaths of 204 miners who died at the Hester iron-ore mine Full story...Production and Markets
Aquarius Platinum
Aquarius Platinum Ltd, the world’s fourth-largest platinum producer, reported disappointing output figures for its second quarter to end December, citing an increase in safety stoppages as one of the reasons for missing analyst expectations Full story...
La Himalaya nationalisation an ‘isolated case’ in Bolivia
The nationalisation on January 25 of the La Himalaya tungsten mine, the largest wolfram deposit in Bolivia, is not expected to trigger other such moves as the government said it is keen to attract mining investment into the under-explored country Full story...African Rainbow injury
An employee has been fatally injured at Harmony Gold Mining Co’s Bambanani mine in South Africa’s Free State Full story...Goldplat production
Goldplat plc has secured permission from the South African authorities in its efforts to secure further feedstock for the East Rand Proprietary Mines operation Full story...Rustenburg strike
The strike at the Rustenberg mine, owned by Impala Platinum Holdings Ltd (Implats), escalated this week, with Implats reporting that the majority of its Rustenberg workforce – about 18,000 employees – stayed away from work on Tuesday Full story...Guatemala raises royalties
Mining companies are to be asked to voluntarily raise royalty payments in the central American state of Guatemala, following an accord concluded last week between Guatemala’s Union of Extractive industries and the Ministry of Mines Full story...African states move to increase their share
The past week has seen a number of potentially significant developments for mining companies operating in the African states of Mali and Ghana, with the possibility of revised fiscal arrangements in each state Full story...BHP sells Richard’s Bay Minerals stake to Rio, exits mineral sands
BHP Billiton (BHPB) said it will sell its 37% stake in South African mineral-sands operation Richards Bay Minerals (RBM) to operator Rio Tinto for an undisclosed sum Full story...Rains bring loss for Ranger
On Wednesday, Energy Resources of Australia Ltd, a subsidiary of Rio Tinto, posted an after-tax loss of A$154 million (US$164 million) for last year, citing extreme weather conditions Full story...Indonesia protests escalate, Arc license revoked
Clashes between authorities and anti-mining protesters, which resulted in the deaths of two people in early January, have continued this week in the Bima Regency of Indonesia’s Sumbawa Island Full story...Teck to supply zinc for UN nutrition program
Teck Resources Ltd has joined forces with the world’s largest chemicals firm, BASF SE, to develop a zinc food supplement programme as part of the Scale Up Nutrition (SUN) process, run by the United Nations Full story...WTO rejects China appeal on raw materials exports
The World Trade Organisation (WTO) this week rejected an appeal by China over the setting of export quotas for raw materials in a decision that could affect prices for rare earth metals Full story...Exploration & Development
High-grade Komahun
Polo Resources Ltd has confirmed the continuity at depth of mineralisation at the Komahun deposit in Sierra Leone Full story...Vista feasibility raises output and costs for Coalspur
The independent feasibility study for development of Coalspur Mines Ltd’s Vista thermal-coal project near Hinton, Alberta, has designed a project capable of 11.2Mt/y output Full story...African Barrick posts quadrupled Tusker estimate
Exploration amounting to US$40 million, including 166,000m of drilling, has been used to quadruple African Barrick Gold plc’s estimate for Tusker gold deposit (pictured), part of its Nyanzaga gold project in Tanzania Full story...Olympus confirms Bau
Drilling in and around the Jugan deposit at Olympus Pacific Minerals Ltd’s 83.25%-owned Bau Central gold property in Malaysia has confirmed extensions to defined mineralisation Full story...Peakview intercepts
Ironbark Zinc Ltd has confirmed the extension of base-metals mineralisation at the Peakview property in New South Wales, where a strike length of 1.3km remains open along strike and down dip Full story...Deep Rainy hits
Ongoing drilling at Rainy River Resources Ltd’s namesake gold project in Ontario has confirmed the continuation of mineralisation below the planned open-pit development Full story...Tuzon adds to Hummingbird’s Dugbe
Hummingbird Resources plc has received a 2Moz independent resource estimate for the Tuzon deposit, part of its Dugbe property in Liberia, at which the Dugbe F deposit was estimated last year to contain 1.7Moz Full story...Verde scopes potash plan
An independent preliminary economic assessment for development of Verde Potash plc’s Cerrado Verde potash project in Mina Gerais, Brazil, has indicated capital costs of US$2.4 billion for a 3Mt/y operation Full story...Porcupine assays
Explor Resources Inc has confirmed the continuity of mineralisation discovered in a hole last year at its Timmins Porcupine West property in Ontario, and noted that the mineralised structure remained open Full story...Starvation results
Yukon-Nevada Gold Corp has intersected high-grade mineralisation during confirmation drilling at the Starvation Canyon zone, part of its Jerritt Canyon operation in Nevada Full story...Tampakan resource confidence boost
Indophil Resources NL has received an updated resource estimate for the joint-venture Tampakan copper-gold project in the Philippines from partner Xstrata plc Full story...Initial Tenge results
Baobab Resources plc has completed the first holes at the Tenge prospect of its 85%-owned Massamba iron-ore vanadium and titanium property in Mozambique Full story...Berkeley outlines Salamanca options
Berkeley Resources Ltd has completed a preliminary feasibility study with the assistance of consultants for the first stage of its Salamanca 1 uranium project in Spain Full story...Scoping outlines Levon’s Cordero plan
An independent preliminary economic assessment has designed an operation based on 30% of the open-pit resources at Levon Resources Ltd’s Cordero polymetallic project (pictured) in Chihuahua, Mexico Full story...Corazon assays
Drilling beneath the existing resource at the past-producing EL nickel mine’s open pit in Manitoba has outlined base-metal sulphide mineralisation for Corazon Mining Inc, which holds an option to buy a 100% interest Full story...More from Calatos
Metminco Ltd has completed the third phase of drilling at Los Calatos, its copper-molybdenum property in Peru, with the results interpreted to have extended the length of the mineralised zone to more than 1.2km Full story...Kuriskova prefeasibility designs underground operation
An independent feasibility study for Tournigan Energy Ltd’s Kuriskova uranium-molybdenum project in Slovakia has indicated the deposit could support a 13-year underground mine Full story...Cockatoo posts Surat reserves
Cockatoo Coal Ltd has released maiden reserve estimates for the joint-venture Taroom and Collingwood coal deposits in the Surat Basin of Queensland Full story...Kipawa plan reveals potential
Matamec Exploration Inc has received a preliminary economic assessment for its Kipawa rare-earths project in Quebec, and plans to progress work to the feasibility stage Full story...Toroparu update cuts costs, output
An independent update of Sandspring Resources Ltd’s Toroparu gold-copper project (pictured) in Peru has forecast reduced capital costs compared with the previous assessment, but also reduced production Full story...Sissedougou discovery
La Mancha Resources Inc has intersected gold mineralisation that suggested an 800m-long zone at its Sissedougou property in Ivory Coast, hosted by interbedded metaconglomerates and meta-graywackes Full story...Marropino delay
Noventa Ltd has announced a delay in the commissioning of the second phase of its Marropino tantalum project in Mozambique, owing to poor weather and beetle infestation Full story...Finance
Molycorp stake bought
Molibdenos y Metales SA (Molymet), a Chile-based company that processes molybdenum and other rare earth metals, will buy a 13% stake in US-based rare earths producer Molycorp Inc for US$390 million in an all share deal Full story...White Tiger loan
White Tiger Gold Ltd has reached agreement for a US$150 million loan facility to aid the development of its Savkino and Nasedkino gold projects in Siberia Full story...Accident forces Vale to halt Sudbury operations
Vale SA suspended production at five nickel projects in the Sudbury area of Ontario after an employee was killed at the company’s Coleman copper-nickel mine Full story...Ivanhoe to keep board
Ivanhoe Mines Ltd has said it expects to keep hold of its 14-member board of directors after the acquisition by Rio Tinto is complete Full story...Funding for Tonkolili
African Minerals Ltd has said it will issue convertible bonds worth US$350 million (due 2017) to fund its Tonkolili mine (pictured) in Sierra Leone. Full story...Harmony's injury
An employee has been fatally injured at Harmony Gold Mining Co’s Bambanani mine in South Africa’s Free State Full story...Industry consolidation signalled by Xstrata-Glencore
The international mining industry is facing a new round of corporate amalgamation following confirmation that Glencore International plc and Xstrata plc are in talks regarding a possible US$80 billion ‘merger of equals’ Full story...Pan African, Wits Gold team up to buy Evander
Witwatersrand Consolidated Gold Resources Ltd and Pan African Resources plc will set up a 50:50 joint venture to buy the Evander gold mine (pictured) in South Africa for as much as R1.7 billion (US$220 million) in cash and assumed debt Full story...First Quantum raises US$1bn for Kansanshi
First Quantum Minerals Ltd has arranged US$1 billion in funding for the company’s flagship Kansanshi mine, the largest copper project in Africa Full story...Archipelago Resources sees material increase
Archipelago Resources plc has announced an increase in mineral resources and ore reserves at its operating Toka Tundung mine in North Sulawesi, Indonesia Full story...Anglo-Codelco dispute: the latest
The ongoing dispute between Anglo American plc and Codelco took on a new dimension this week after the national Federation of Copper Workers (FCW), a Codelco board member, filed a criminal complaint against Anglo Full story...Guangdong Kalahari bid to close
Thursday was the closing date for acceptances on the £632 million (US$1 billion) offer for Kalahari Minerals plc, made by the China Guangdong Nuclear Power Corp (CGNPC)last December Full story...Novagold raises US$250m in bought deal
NovaGold Resources Inc said this week that it would raise US$250.8 million through a bought-deal public offering Full story...Reports
Colombia: Stability secures steady growth
After decades of security issues, Colombia is only now starting to experience a mining boom Full story...People and Appointments
Implats CEO
Impala Platinum Holdings Ltd (Implats) has appointed Terence Goodlace as chief executive with effect from July 1 Full story...Bezant brings in Olivier
Bezant Resources plc, a gold and copper exploration company with assets in the Philippines, Argentina and Tanzania, has appointed Bernard Olivier as chief executive with immediate effect Full story...Kenmare chairman
Justin Loasby took over as non-executive chairman of Kenmare Resources plc last week Full story...Hanking directors
China Hanking Holdings Ltd, an iron-ore producer in northeast China, has appointed an executive director alongside three new non-executives. Full story...Congressman to Passport
Matthew Salmon, a former US senator, will join Passport Potash Inc, a US exploration and development firm with assets in Arizona, as a director Full story...Senior changes at Sherritt
Canada-based nickel and coal producer Sherritt International Corp has appointed a chief financial officer as part of the changes to its senior management team Full story...Site Search
Log inIssue: MJ 03/02/12
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