03/04/09
Scientist prepare marine mining code
Scientists at the International Marine Minerals Society (IMMS) are preparing a code of conduct that they hope will guide mining companies planning to exploit underwater mineral deposits. Full story...Madagascan military cancel contracts, search mine
Madagascar’s transitional leader Andry Rajoelina, who took power from Marc Ravalomanana in March, has suspended all mining contracts in the country to review tax and royalty regimes Full story...Mining deprives Africa of millions in lost taxes
Mining companies are depriving African countries of millions of dollars in revenue through tax subsidiaries and avoidance, a new report by international non- government organisations has claimed. Full story...China tightens grasp on Australian mining assets
Chinese companies made significant progress this week in their buying spree of high-profile Australian mining projects and equities. Full story...BHPB told: stop fatalities or stop mining
BHP Billiton has been put on notice following five fatalities at its Pilbara iron-ore operations in the past nine months, with the Western Australia government threatening to shut down mines that breach workplace conditions. Full story...
Production and Markets
Rio Tinto plans shutdowns and job cuts at Diavik
Rio Tinto has announced that it plans to introduce temporary shutdowns at its Diavik diamond mine in Canada’s Northwest Territory, in reaction to falling diamond prices, just weeks after Kinross Gold Corp said it would buy a 19.9% stake the mine’s co-owner, Harry Winston Diamond Corp, and an indirect interest in the mine for US$150 million. Full story...
Newmont and Indonesia close to settling Batu Hijau dispute
Newmont Mining Corp has divested part of its ownership in copper-gold mine operator PT Newmont Nusa Tenggara (PTNNT) to Indonesia, as an international arbitration court handed down a ruling on an investment dispute. Full story...Business low for minor metals
Any hope that the minor metals would start to pick up during the first quarter were finally put to rest during March. Full story...Madagascan military cancel contracts, search mine
Madagascar’s transitional leader Andry Rajoelina, who took power from Marc Ravalomanana in March, has suspended all mining contracts in the country to review tax and royalty regimes Full story...First Zimbabwe gold shipment crosses the border
Gold was this week shipped out of Zimbabwe and paid for in US dollars for the first time under the power-sharing arrangements of the transitional government. Full story...BHPB told: stop fatalities or stop mining
BHP Billiton has been put on notice following five fatalities at its Pilbara iron-ore operations in the past nine months, with the Western Australia government threatening to shut down mines that breach workplace conditions. Full story...World Bank criticises Middle East governments
The governments of the Middle East are not doing enough to encourage mining in the region. Full story...IFM furnace restart
International Ferro Metals Ltd has announced that it will reopen one of its furnaces in South Africa for three months starting in mid-April. Full story...Kazakh tax break
Kazakhstan has announced that it will allow loss-making companies to pay reduced tax rates to avoid mine closures, bankruptcies and job losses. Full story...Guinea arrests
Guinea’s ruling military junta has arrested a fourth former mines minister on embezzlement charges Full story...Fresnillo to use Rocmec mining method
Fresnillo plc will use the ‘thermal fragmentation’ mining method, developed by Rocmec Mining Inc, at its La Ciénega precious metals mine in Mexico. Full story...Dundee updates feasibility study for Chelopech
Dundee Precious Metals Inc has updated the feasibility study for Chelopech gold-copper mine expansion and metals plant project in Bulgaria where it plans to double capacity. Full story...Zambia looks to raise stake in copper mines
The Zambian government is looking to raise its stake in copper mines in the country to 35% in efforts to prevent closures and job loses. Full story...Grupo Mexico seeks to shut Cananea
Grupo Mexico SAB is seeking to shut its Cananea copper mine which it said is no longer operational as a result of a 20-month-long strike. Full story...Russia increase Arctic troops to secure resources
Russia’s Security Council has revealed plans to send more military forces to the Arctic as the country races with Canada, the US and Denmark to secure the Arctic’s vast resource potential. Full story...Gemfields cuts emerald production
Gemfields Resources plc, part of investment company Pallinghurst Resources LLP, has announced that it will “reduce the scale of mining” at its Kagem emerald mine in Zambia, the world’s largest emerald mine. Full story...Exploration & Development
Randgold's Massawa confirmed with 3Moz resource
Randgold Resources Ltd has confirmed the potential of its 83%-owned Massawa gold discovery in Senegal with an initial inferred resource containing 3Moz of gold. Full story...
Chaarat, Haile resources rise
Chaarat Gold Holdings Ltd and Romarco Minerals Inc have received new resource estimates for their respective Chaarat and Haile Gold Mine projects. Full story...Coeur pours first Palmarejo doré
Coeur d'Alene Mines Corp has produced the first silver-gold doré at its Palmarejo operation in Chihuahua, northern Mexico. Full story...Ivanhoe claims major find in DRC
Ivanhoe Nickel & Platinum Ltd, a privately company held by Ivanhoe Capital Corp, US, Canadian and European banks, pension funds and other fincial insitutions, has made a "major copper discovery" in the Democratic Republic of the Congo, according to chairman Robert Friedland. Full story...Rey coal resource
Rey Resources Ltd has received an indepenent resource estimate for its Duchess-Paradise coal property in Western Australia's Canning Basin. Full story...Scientist prepare marine mining code
Scientists at the International Marine Minerals Society (IMMS) are preparing a code of conduct that they hope will guide mining companies planning to exploit underwater mineral deposits. Full story...BK11 resource
Firestone Diamonds plc's evaluation of its BK11 kimberlite in Botswana has outlined an overall resource of 12Mt containing about 830,000ct. Full story...New discovery for Minera IRL
Minera IRL Ltd's diamond-drilling programme at the Ollachea gold property in Peru has confirmed the company view of a "substantial new gold discovery". Full story...Teck leaves Konya, Stratex continues drilling
Stratex International plc was assessing data from exploration at properties within its Konya regional project in Turkey this week, after joint-venture partner Teck Cominco Ltd decided not to continue earning a 51% interest. Full story...Seitaperä grade variable
Karelian Diamond Resources plc has decided to continue evaluation of its Seitaperä kimberlite property in Finland, but not proceed with a planned bulk-sampling programme, owing to the state of the diamond market. Full story...Sidace Lake results
Planet Exploration Inc has received drilling results from Goldcorp Inc, 60%-owner and operator of the Sidace Lake gold joint venture in Ontario. Full story...Lavoie intercepts
A resource definition drilling programme by Abitex Resources Inc at the Lavoie uranium property in Quebec's Otish mountains has returned results from the first holes, which tested the eastern half of the L deposit. Full story...Thunder Creek assays
Lake Shore Gold Corp's 22,000m drilling programme at the joint-venture Thunder Creek gold property in Ontario has discovered a second mineralised horizon hosted within porphyry. Full story...Vale begins Moatize build
Cia Vale do Rio Doce has laid the cornerstone for its Moatize coal project in Mozambique. Full story...Areva's DRC U deal
Areva SA has signed a preliminary agreement with the government of the Democratic Republic of the Congo regarding uranium exploration and mining. Full story...Petra intercepts
Further infill drilling at Discovery Metals Ltd’s Boseto copper project in Botswana has intersected more copper mineralisation at the Petra deposit. Full story...Focus intercepts
Focus Minerals Ltd has intersected high-grade gold mineralisation at two deposits – Perseverance and Empress – that form part of its Tindals mining centre in Western Australia. Full story...Extract continues Rossing South hits
Extract Resources Ltd announced the latest results from the Rossing South uranium prospect in Namibia, which has been the subject of considerable interest from Rio Tinto, among others. Full story...Hamersley estimate
Flinders Mines Ltd has received the first resource estimate for its Hamersley iron-ore property in Western Australia from consultant Golder Associates. Full story...Freeport achieves first cathode at Tenke Fungurume
The major Tenke Fungurume copper-cobalt project in the Democratic Republic of the Congo has produced its first copper cathode. Full story...Mungana, Amulsar studies for Kagara, Lydian
Scoping studies have been completed for development of Kagara Ltd and Lydian International Ltd's respective Mungana (gold-copper) and Amulsar (gold) projects. Full story...Rönnbäcken resource for IGE
International Gold Exploration AB (IGE) has recived an initial resource estimate for its Rönnbäcken nickel-cobalt sulphide resource in northern Sweden. Full story...Major Pb-Zn find
China's commerce ministry has announced the discovery of a major lead-zinc deposit in the Fenghuang mountains of Lanping Co, Yunnan province. Full story...Finance
Analysis: PWC taxation report
Susan Symons and Steve Ralbovsky at PricewaterhouseCoopers, in their Total Tax Contribution study of the Global Mining Industry, report that mining companies make significant economic contribution where they operate. But are there missed opportunities? Full story...
Consolidated Thompson signs iron-ore deal with Chinese
Toronto-based Consolidated Thompson Iron Mines Ltd (CLM) has inked a US$240 million strategic investment agreement with Wuhan Iron and Steel Corp (Wisco), which could provide the necessary funds to complete construction of the Bloom Lake iron-ore project in Quebec. Full story...Mining deprives Africa of millions in lost taxes
Mining companies are depriving African countries of millions of dollars in revenue through tax subsidiaries and avoidance, a new report by international non- government organisations has claimed. Full story...China tightens grasp on Australian mining assets
Chinese companies made significant progress this week in their buying spree of high-profile Australian mining projects and equities. Full story...Aricom agreement
Aricom plc shareholders have overwhelmingly agreed to pass an arrangement for Peter Hambro Mining plc to purchase Aricom in an all-share offer worth US$534 million. Full story...Tala Hamza zinc project receives funding
Zinc producer Terramin Australia Ltd has signed an A$46 million (US$32 million) deal with Chinese and European investors for development of the Tala Hamza project in Algeria. Full story...No Severstal support for High River
Cash-strapped High River Gold Mines Ltd has failed to secure additional financing from Russian steelmaker Severstal, which holds about 50% of the Canadian company. Full story...Diamond producer plans cash boost
London-listed Gem Diamonds Ltd, which owes about US$42 million, plans to retire its debt with a US$107 million share issue. Full story...No Palmer merger
Gladstone Pacific Nickel Ltd has cancelled its proposed merger with mining magnate Clive Palmer’s Resource Development International (RDI) after RDI’s listing on the Hong Kong Stock Exchange was postponed. Full story...Uranium investment
Polo Resources Ltd, and two of its directors, have accumulated a 5.7% interest in Namibia-focused uranium explorer Extract Resources Ltd, one week after taking a 12.7% stake in Berkeley Resources Ltd, another uranium company. Full story...Catalpa cash
Catalpa Resources Ltd has secured the financing required to develop its A$92 million (US$64 million) Edna May gold project in Western Australia after raising A$31.4 million via a share placement. Full story...Fifth Column
On course
According to Forbes magazine’s latest Billionaires List, Gennadiy Bogolyubov – the man some in the Australian media refer to as ‘Mr Manganese’ - is surviving the global credit crunch quite well. Full story...Reports
Canada's companies make their mark
Research by Natural Resources Canada shows that Canadian mining companies – far from being an industry ‘branch office’ – have truly made their mark in the world, with global mining investment almost doubling to C$110 billion between 2002 and 2007. Features Editor Michelle Giglio reports Full story...People and Appointments
Highland appoints manager
Highland Gold Mining Ltd has appointed Vyacheslav Kozyrev as managing director of the Mnogovershinnoye mine. Full story...Marengo resignation
Andrew Meloncelli has ceased employment as company secretary/chief financial officer of Marengo Mining Ltd to pursue other business opportunities. Full story...High River Gold departure
Terrence Lyons has resigned as chairman of High River Gold Mines Ltd and as a member of the company’s special and audit committees. Full story...LME business manager
Stephen White will be joining the London Metal Exchange as business manager corporate affairs. Full story...New chair at Toro
One of Australia’s leading female minerals industry figures, Erica Smyth, is to take over the chairmanship of uranium developer Toro Energy Ltd. Full story...Brockman board appointment
Brockman Resources Ltd has named Australian mining executive David Nixon as a non-executive director. Full story...Site Search
Log inIssue: 03/04/09
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