04/12/2009
Cashed up Zijin is favoured Tampakan development partner
China's largest gold and third-largest copper producer, Zijin Mining Group Co Ltd, has made a play for a minority stake in the massive Tampakan copper-gold deposit. Zijin is offering A$545 million (US$505 million) in a friendly takeover offer for Indophil Resources NL. Full story...Mining Journal Outstanding Achievement Awards
THERE were clear signs of improved market conditions for the mining industry at this week’s Mines and Money conference and exhibition in London. Full story...ICMM commits to climate strategy ahead of Copenhagen
The 19 members of the International Council on Metals and Mining (ICMM) have called for “comprehensive and sustained global action to reduce climate change” Full story...De Beers shareholders agree on US$1bn rights issue
The three owners of De Beers have agreed in principle to invest up to US$1 billion into the company to reduce external debt and improve its capital structure Full story...Ozernoe’s owner continues to drive project forward
MBC Corp is maintaining momentum on the US$1 billion Ozernoe zinc-lead-gold project in Buryatia, Russia. The company revealed this week that it has initiated a tender for the mining fleet, processing plant and power plant Full story...
Production and Markets
Blyvoor disposal
DRDGold Ltd has agreed to sell 60% of its Blyvooruitzicht gold mine to Aurora Empowerment System (Pty) Ltd for R296 million (US$40.5 million) Full story...
Xstrata sets higher copper forecast with Ernest Henry expansion
Xstrata plc will spend US$542 million on an underground mine and magnetite-processing operation at its Ernest Henry copper mine in Queensland, extending the life of the mine to at least 2024 Full story...Global hedge-book falls
Global gold de-hedging totalled 3.18Moz in the September quarter, with Barrick Gold Corp’s elimination of its fixed-price gold-sales contracts the major influence on the decline Full story...Harmony fatality
Harmony Gold Mining Co Ltd has reported a fatality at its Elandsrand gold mine Full story...China charges
China has charged 58 people with covering-up a mine disaster that killed 34 miners last year Full story...ICMM commits to climate strategy ahead of Copenhagen
The 19 members of the International Council on Metals and Mining (ICMM) have called for “comprehensive and sustained global action to reduce climate change” Full story...Ozernoe’s owner continues to drive project forward
MBC Corp is maintaining momentum on the US$1 billion Ozernoe zinc-lead-gold project in Buryatia, Russia. The company revealed this week that it has initiated a tender for the mining fleet, processing plant and power plant Full story...Sri Lanka buys IMF gold
The Central Bank of Sri Lanka (CBSL) has become the latest buyer of IMF gold, following recent purchases by India and Mauritius Full story...Australia regains second spot in gold producer rankings
Australia has taken second spot in the gold-producer rankings, replacing the US in the first half of 2009 Full story...Exploration & Development
Randgold reviews Kibali resource
Randgold Resources Ltd has released a revised resource estimate for the Kibali (formerly Moto) joint-venture gold project in the Democratic Republic of the Congo Full story...
First Quantum approves Kevitsa development
The board of directors of First Quantum Minerals Ltd has approved the company’s large-scale, low-grade Kevitsa (Keivitsa) nickel-copper-platinum group metals (PGM) project 142km north of Rovaniemi in Finland Full story...Pumpkin Hollow revision reduces costs, output
A revised scoping study for development of Nevada Copper Corp’s Pumpkin Hollow iron-oxide copper-gold project in Nevada has targeted higher-grade mineralisation at the deposit, reducing capital costs but also production Full story...Livengood scoping forecasts 5.8Moz output
An independent preliminary economic assessment, or scoping study, for development of a heap-leaching operation at International Tower Hill Mines Ltd’s Livengood gold project in the Tintina gold belt in Alaska designed annual output of 459,000oz for about 13 years Full story...Eagle assays
Noront Resources Ltd has released further results from drilling at the Eagle One polymetallic prospect within its McFaulds Lake property in the ‘Ring of Fire’ mineral district in Ontario Full story...New Rocklands find for Cudeco
Cudeco Ltd has intersected copper mineralisation at a siltstone unit parallel to, and south of, Las Minerale, a copper deposit at its Rocklands property in Queensland Full story...Lac Dore intercepts
The first phase of Apella Resources Inc’s drilling at the Lac Dore vanadium-iron-titanium property in northern Quebec has intersected “encouraging” results, according to the company Full story...Minera IRL's Ollachea plan scoped
Courtney Chamberlain, executive chairman of Minera IRL, has said the company’s Ollachea gold project in Peru could produce an average 117,000oz/y Full story...Long Canyon study for Fronteer
Consultant Mine Development Associates has produced a scoping study for Fronteer Development Group Inc’s 51%-owned Long Canyon gold project in Nevada, which forecasts six-year production of 565,000oz Full story...Nyota increase for Mantra
An updated independent resource estimate for Mantra Resources Ltd’s Nyota uranium deposit, part of its Mkuju River property in southern Tanzania, has increased contained U3O8 by 24% to 44.6Mlb (20,200t) Full story...Bentley results
Jabiru Metals Ltd has intersected polymetallic mineralisation outside the resource envelope at the Bentley deposit, 4.6km from its Jaguar copper-zinc operation in Western Australia Full story...Initial Ardeen assays
Coventry Resources Ltd reports it has received “exceptional high-grade results” from its initial drilling at the joint-venture Ardeen gold property in Ontario, where it is earning up to 75% from Pele Mountain Resources Inc Full story...Saganaga intercepts
Benton Resources Corp has completed a diamond-drilling programme at its Saganaga gold property in the Shebandowan greenstone belt of Ontario, intersecting a number of mineralised zones Full story...Balla Balla study confirms scope
Aurox Resources Ltd has completed an engineering and cost study for production of iron ore, vanadium and titanium at its Balla Balla project in Western Australia’s Pilbara region Full story...Tanjianshan assays
Eldorado Gold Corp has completed further drilling at the newly-discovered 323 zone at its Tanjianshan gold mine in China, which has been confirmed by the latest results as having a strike length of 300m Full story...Seymour Lake assays
Linear Metals Corp has recently restarted diamond drilling at its Seymour Lake lithium-tantalum-beryllium property in northwestern Ontario in response to the rising interest in the elements. Full story...Allied results
Allied Gold Ltd has intersected further gold mineralisation at its Pigiput and Pigibo prospects, part of its mining licence on Simberi Island, Papua New Guinea Full story...Philex releases Bayugo resource
Philex Gold Inc has reported an updated, independent resource estimate for its Bayugo copper-gold porphyry deposit on the island of Mindanao in the Philippines Full story...Back Forty assays
Joint-venture partners Aquila Resources Inc and HudBay Minerals Inc have reported assay results from drilling at the Back Forty polymetallic property in Michigan Full story...Doolgunna confirmed
Sandfire Resources NL has confirmed the discovery of a new copper-gold volcangenic massive-sulphide zone at its Doolgunna property in Western Australia. Full story...Finance
Cashed up Zijin is favoured Tampakan development partner
China's largest gold and third-largest copper producer, Zijin Mining Group Co Ltd, has made a play for a minority stake in the massive Tampakan copper-gold deposit. Zijin is offering A$545 million (US$505 million) in a friendly takeover offer for Indophil Resources NL. Full story...
Rusal repayment boost, IPO setback
Russian aluminium producer, UC Rusal, has reportedly secured an extension on its US$16.8 billion of debt, while suffering a blow in its plans to list on the Hong Kong Stock Exchange (HKEx) Full story...Dual acquisitions down under
Canada-based Entrée Gold Inc has entered into an agreement to buy Australia’s PacMag Metals Ltd, doubling the company’s copper resources. Full story...Lion scheme
Lion Selection Ltd has received approval from the Supreme Court of Victoria for its merger with Catalpa Resources Ltd Full story...Petra diamond
Petra Diamonds Ltd has sold a 168ct diamond recovered from its Cullinan mine in South Africa for US$6.28 million Full story...Exeter financing
Exeter Resources Corp has closed its C$50 million equity financing under which it sold 8.5 million shares at a price of C$5.85/share Full story...ARMZ makes unsolicited bid for Khan Resources
Russia’s state-owned nuclear energy company Atomredmetzoloto JSC (ARMZ) has made an unsolicited offer for Khan Resources Inc, which holds a majority interest in the Dornod uranium project in Mongolia Full story...De Beers shareholders agree on US$1bn rights issue
The three owners of De Beers have agreed in principle to invest up to US$1 billion into the company to reduce external debt and improve its capital structure Full story...ASX uranium IPO
Uranium explorer Raisama Ltd has listed on the ASX following an oversubscribed A$12.25 million capital raising Full story...Perseus completes financing
Perseus Mining Ltd has agreed financing from Macquarie Bank and Credit Suisse for its Ayanfuri gold project in Ghana Full story...Barrick completes hedge elimination
Barrick Gold Corp has completed the elimination of all its gold hedges, well in advance of its self-prescribed deadline. Full story...Taseko sells quarter of Gibraltar asset for C$180m
Taseko Mines Ltd has signed a letter of intent with Sojitz Corp for a 75:25 joint venture over its Gibraltor copper and molybdenum mine in British Columbia Full story...Petra raises US$120 million
Petra Diamonds Ltd has completed its previously announced share placing, raising £73 million (US$120 million) at £0.60/share. Full story...Fifth Column
Jack of all trades
Bob Foster says they take soccer seriously in Africa. He vividly remembers the time he was refereeing a local African league match in Zimbabwe, when the home team was being loudly supported by a local witchdoctor haranguing the players while brandishing a ceremonial axe. Full story...Reports
Mining Journal Outstanding Achievement Awards
THERE were clear signs of improved market conditions for the mining industry at this week’s Mines and Money conference and exhibition in London. Full story...
Minor metals: Unsettled month
In an interesting development, members of the Minor Metals Trade Association voted down proposals (as outlined in last month’s Minor Metals column) for an online price-discovery system. Full story...Mixed experience in central america
The conditions for mining companies varied widely between the countries of Central America during the past year Full story...People and Appointments
New directors at Wallbridge Mining
Parviz Farsangi and Roland Horst have joined the board of Wallbridge Mining Co Full story...
Ericsson joins Luleå Univeristy
Magnus Ericsson, the co-founder of Raw Materials Group, has been appointed as associated professor of mineral economics at the Luleå University of Technology (LTU) in Sweden. Full story...WGC investment team
The World Gold Council (WGC) has announced the appointment of Eily Ong to its investment-research team Full story...RMB rep leaves Simmers
Martin Eric Oberholster has resigned from the board of Simmer & Jack Mines Ltd Full story...Dia Bras chairman
Dia Bras Exploration Inc has appointed Philip Renaud as chairman to replace Thomas Robyn, who has taken over as head of exploration Full story...Company secretary at Nkwe
Mokganyetsi 'Staff' Sithole has been appointed as a director and joint company secretary of Nkwe Platinum Ltd Full story...Departures at Gabriel
Martin Eric Oberholster has resigned from the board of Simmer & Jack Mines Ltd Full story...Journal Team Diary
Mining memorial stolen
A bronze statue has been stolen in Scotland just months after being erected as a tribute to 47 miners that lost their lives at the Auchengeich colliery in 1959 Full story...Site Search
Log inIssue: 04/12/2009
PROFESSIONAL PLACEMENTS
Geologists- Senior and Junior Positions
Gryphon Minerals is aggressively growing its world class Banfora Gold Project in Burkina Faso, West Africa.
Mining and Metals Opportunities - Hatch
Mining and Metals Opportunities in London and Globally: Senior and junior roles.
Minerals Geoscientist Vacancy - Neftex
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Senior Hydrogeologist - Schlumberger
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