06/02/09
Zimbabwe allows gold sales on open market
Zimbabwe is on the brink of passing a law that will allow gold to be traded on the open market, potentially turning the tide for its flailing mining industry. Full story...BHPB results show boom times are over
BHP Billiton chief executive Marius Kloppers was bullish on the outlook for iron-ore prices – the commodity that accounts for one-fifth of his group’s revenue – as he commented on the company’s 56.5% drop in profit for the final six months of 2008. Full story...NUM: South Africa safety report incomplete
South Africa’s National Union of Mineworkers (NUM) has welcomed the release of the country’s long-awaited mine safety audit, but said it does not fully address the country’s failing safety standards. Full story...Rio Tinto in asset sale talks with Chinalco
Investors warmed to confirmation this week that Rio Tinto was in talks to sell some assets to Chinese state-owned aluminium producer Chinalco, to cut debt by as much as US$8 billion. Full story...Peru miners vote on industrial action
PERUVIAN mine workers will hold a vote on whether to stop work on March 15, in protest over job cuts and delays in legislation on pensions and profit-sharing. Full story...Zambia abolishes contentious windfall tax
Zambia has abolished its controversial 25% windfall tax, in an effort to keep its struggling mining industry afloat. Full story...Barrick dropped by Norwegian pension fund
Barrick Gold Corp has become the third mining company to be dropped by the Norwegian Pension Fund in two years. Full story...
Production and Markets
Zimbabwe allows gold sales on open market
Zimbabwe is on the brink of passing a law that will allow gold to be traded on the open market, potentially turning the tide for its flailing mining industry. Full story...Codelco shelves Anglo American option
Chile’s Codelco, the world’s largest copper producer, said it would defer exercising its option to buy up to a 49% interest in Anglo American plc’s copper operations in southern Chile. Full story...Antofagasta warns of copper cut
Antofagasta plc said it expects a drop in copper output at its Chilean operations in 2009, largely owing to the recovery of lower-ore grades at its flagship Los Pelambres mine in Chile. Full story...Ivernia to resume Australian lead shipments
Ivernia Inc said it will resume sealed lead exports in Australia by the end of the next quarter, two years after the company was barred from shipments owing to environmental concerns. Full story...NUM: South Africa safety report incomplete
South Africa’s National Union of Mineworkers (NUM) has welcomed the release of the country’s long-awaited mine safety audit, but said it does not fully address the country’s failing safety standards. Full story...Rio Tinto in asset sale talks with Chinalco
Investors warmed to confirmation this week that Rio Tinto was in talks to sell some assets to Chinese state-owned aluminium producer Chinalco, to cut debt by as much as US$8 billion. Full story...Fortescue settles shipping dispute
Fortescue Metals Group Ltd has settled a shipping dispute with Bocimar International NV by issuing the Belgium ship owner US$22 million in shares. Full story...Norilsk production toppled by slumping nickel prices
OAO Norilsk Nickel, the world’s largest nickel producer, posted a 16% fall in December-quarter production of the metal and said output of copper, platinum and palladium also dropped. Full story...Job losses continue to mount at Oz Minerals
Embattled Oz Minerals Ltd, the world’s second-largest zinc producer, revealed it had cut its global work force by 1212, or 17%, since the end of October, to conserve cash and stave off plunging metal prices during the global economic downturn. Full story...Constellation restarts heap leach
Constellation Copper Corp has resumed operations at the Lisbon Valley copper heap leach project in Utah, US. The group closed the underperforming mine in December 2007 as it was haemorrhaging funds since it started in 2005. Full story...Boliden copper cut
The “weak market situation” has prompted Boliden to cut copper production at its smelters in Sweden and Finland by as much as 17,000t in the three months to March 31. Full story...Rusal smelter halts
United Co Rusal has warned it will halt operations at alumina refineries in Jamaica and Sardinia, Italy, owing to weak demand for the raw material. Full story...Cliffs' closures
US-based Cliffs Natural Resources Inc has suspended coking-coal production at its Pinnacle mine complex in West Virginia, for one month Full story...Gold growth
Gold may average US$1,000/oz this year, spurred by soaring investment demand for haven assets amid the financial crisis, according to UBS AG. Full story...Rio Tinto derailed
Rio Tinto resumed iron-ore shipments in Australia’s Pilbara region after a train derailed last week, causing one-quarter of a fully-loaded, 230-wagon train to overturn. Full story...Xstrata copper sinks
Xstrata plc said it produced 952,426t of copper last year, 3.47% less than in the previous year, according to the company’s preliminary 2008 results report. Full story...Ferrexpo ups output
Ukraine-based iron-ore producer Ferrexpo plc said it lifted output to around 90% of “normal” levels. Full story...Zambian copper hike
Copper production in Zambia, Africa’s largest producer of the metal, rose 29% in November. Full story...Highland gold boost
Highland Gold Mining Ltd said it produced 158,885oz of gold in 2008, or 2.7% of Russia’s output, and planned to produce 155,000-165,000oz of gold this year. Full story...Peru miners vote on industrial action
PERUVIAN mine workers will hold a vote on whether to stop work on March 15, in protest over job cuts and delays in legislation on pensions and profit-sharing. Full story...Exploration & Development
Haile development to cost US$153m
Romarco Minerals Inc has released the results of a feasibility study at its Haile Mine gold project in South Carolina which indicated the project could be developed at a total capital cost of US$153 million. Full story...Silver Standard increases Snowfield resource
Silver Standard Resources Inc has reported a 46% increase in measured and indicated resources and a 30-fold increase in inferred resources at its Snowfield gold project in northern British Columbia. Full story...Appeal court backs Gabriel
The Bucharest Court of Appeal has found in favour of Gabriel Resources Ltd in one of its disputes with Romania’s environment ministry. Full story...Jack Hills grows to 1,000Mt
The Jack Hills iron-ore project in Western Australia contains just over 1,000Mt, according to the latest resource estimate, reports 50%-owner Murchison Metals Ltd. Full story...Kalukundi contract review concluded
Africo Resources Ltd has reached agreement with the government of the Democratic Republic of the Congo and the state-owned mining company, Gécamines, on amended terms for Africo’s 75%-owned Kalukundi copper-cobalt project. Full story...Initial Bracemac-McLeod estimate
Xstrata plc has produced an initial resource estimate for the joint-venture Bracemac-McLeod volcanogenic massive sulphide deposit in the Matagami region of Quebec. Full story...Tonkolili initial resource at 4,700Mt
African Minerals Ltd has unveiled its initial resource estimate for its Tonkolili iron-ore project, its flagship project in Sierra Leone. Full story...Jabal Sayid total rises
Overall contained copper at Citadel Resource Group Ltd’s 50%-owned Jabal Sayid copper deposit in Saudi Arabia has risen to more than 1.2Mt, after receipt by the company of an updated resource estimate. Full story...Continental resources more than double
Continental Precious Minerals Inc has reported an 82% increase in indicated resources and a 143% increase in inferred resources at its MMS Viken Licence in Sweden. Full story...Livengood resource increased by another 70%
International Tower Hill Mines Ltd , Livengood gold project Full story...Four mile uranium
Alliance Resources Ltd has released drilling results from its Four Mile uranium project in South Australia. Full story...Shayban drilling
Citadel Resources Group Ltd has announced drilling results from its Shayban gold project in Saudi Arabia. Full story...Trevali drilling
Trevali Resources Corp has reported further drilling results from its Santander silver-lead-zinc project in the Cerro de Pasco region of west-central Peru Full story...Australian Uranium
Pancontinental Uranium Corp has announced drilling results from its Chilling project in Australia’s Northern Territory. Full story...Frasergold results
Hawthorne Gold Corp and Eureka Resources Inc have reported drilling results from their Frasergold gold project in British Columbia Full story...Golden results
Golden Share Mining Corp has reported drilling results from its Malartic Lakeshore gold project in Quebec. Full story...Chatree results
Kingsgate Consolidated Ltd has announced further drilling results from its Chatree North project in Thailand. Full story...Fossey results
Bass Metals Ltd has provided further drilling results from the Fossey zone at its Hellyer zinc-lead project in Tasmania Full story...Doup resource
Avocet Mining plc has announced the release of the first resource estimate for its Doup gold project in Indonesia. Full story...Blue Ridge commissioned
Ridge Mining plc has announced that commissioning of the concentrator plant at its Blue Ridge platinum project in South Africa has commenced and that the first ore is anticipated to be processed in mid-February. Full story...Solitario drilling
Solitario Exploration & Royalty Corp has announced drilling results from its Bongará zinc-lead project in northern Peru. Full story...Vane uranium
Vane Minerals plc has announced exploration results from its uranium properties in Arizona and Utah. Full story...Finance
Cashed-up Newcrest ready to expand
NEWCREST Mining Ltd, Australia’s largest home-grown gold producer, is primed to purchase struggling gold companies after closing an A$750 million (US$479 million) capital raising this week. Full story...BHPB results show boom times are over
BHP Billiton chief executive Marius Kloppers was bullish on the outlook for iron-ore prices – the commodity that accounts for one-fifth of his group’s revenue – as he commented on the company’s 56.5% drop in profit for the final six months of 2008. Full story...Troubled Munali ramp-up receives financial backer
NICKEL project developer Albidon Ltd has reached an agreement with a private investment firm which could result in US$26 million of funding for ramp-up at the Munali project in Zambia. Full story...Century offers shares and gold in Lamaque raising deal
CENTURY Mining Corp plans to sell structured gold-based financing to raise up to US$66 million to fund development of its Lamaque gold project in Quebec. Full story...Central Sun, B2Gold agree to tie-up
LINEAR Gold Corp has dropped its takeover bid for Central Sun Mining Inc, following a higher bid from B2Gold Corp. Linear also scrapped a C$15 million (US$12 million) private placement associated with the offer. Full story...Rusoro wants rid of Gold Reserve ‘poison pill’ in takeover defence
RUSORO Mining Ltd has called for the Ontario Securities Commission (OSC) to terminate Gold Reserve Inc’s shareholder rights plan, calling it a “poison pill” in response to its attempted takeover. Full story...Zambia abolishes contentious windfall tax
Zambia has abolished its controversial 25% windfall tax, in an effort to keep its struggling mining industry afloat. Full story...MAG awaits Juanicipio data to finish Fresnillo valuation
MAG Silver Corp has suspended an independent valuation of its securities, required as part of a takeover bid from Fresnillo plc, claiming Fresnillo has not supplied MAG with sufficient data to complete the review. Full story...Osisko raising cash for Malartic, Newmont ups Boddington funds
OSISKO Mining Corp has signed a bought-deal financing programme with a syndicate of underwriters to raise C$350 million (US$285 million). Proceeds will go towards development of the Malartic gold project in Quebec. Full story...Russia may take stake in Rusal via convertible notes
UNITED Co Rusal chief executive and controlling shareholder Oleg Deripaska (pictured) said the Kremlin could obtain a stake in the aluminium producer through the issue of convertible bonds. Full story...Barrick dropped by Norwegian pension fund
Barrick Gold Corp has become the third mining company to be dropped by the Norwegian Pension Fund in two years. Full story...Fifth Column
A satisfying career
During his 20 years of managing listed companies, Derek Fisher has had the probably unique experience of working alongside three of the mining industry’s great entrepreneur-promoters: Andrew ‘Twiggy’ Forest; Robert Friedland’ and the late Adolf Lundin. Full story...Reports
Fund Fundamentals: Value Oriented
Mining Journal presents the seventh in a series of interviews with professional investors in resource stocks. This installment: Baker Steel Capital Managers LLP Full story...Focus
Fund Fundamentals: Value oriented
Mining Journal presents the seventh in a series of interviews with professional investors in resource stocks. In this installment: Baker Steel Capital Management LLP Full story...El Dorado legend lives on in Colombia
Gold can help Colombia out of the financial crisis that is crippling other South American countries Full story...People and Appointments
Extract chairman ousted
Bob Buchan has been removed as chairman of Extract Resources Ltd, following a shareholder vote called by the company’s 39.5% shareholder, Kalahari Minerals plc. Full story...New head of mining for Ambrian
Ambrian Partners has appointed Mark Wellesley-Wood as head of mining in its corporate finance division. Full story...Kenmare expertise
Kenmare Resources plc has named Jacob Deysel as chief operations officer and James White as general manager of the Moma titanium minerals project in Mozambique. Full story...Bluerock exploration
William Sheriff has resigned as a director of uranium exploration company Bluerock Resources Ltd. Full story...Galore advisory board
Al Fabbro has assumed the position of chair of Galore Resources Inc’s newly-formed advisory board. Mr Fabbro has more than 30 years of industry experience. Full story...Tianshan key changes
Tianshan Goldfields Ltd has announced several changes to its board and senior management team. Full story...Metorex executive chairman
Rob Still has accepted the role as executive chairman of Metorex Ltd. Mr Still succeeds Simon Malone, who has retired. Full story...Pelangio people
Pelangio Exploration Inc has appointed Chris Pegg as vice-president exploration (Africa) and Brendan Cahill as counsel and corporate secretary. Full story...Lumina changes
The board of Lumina Copper Corp has approved the appointments of Donald Shumka as a director of the company, Leo Hathaway as vice-president, exploration and Marshall Koval as vice-president, project development. Full story...Thor Management
Thor Mining plc has recently made changes to its management team. Mick Billing has assumed the role of executive chairman with more involvement in the daily managerial aspects of the company. Full story...Victory expertise
Victory Nickel Inc has named Alison Sutcliffe as vice-president, finance and chief financial officer. Ms Sutcliffe replaces Robert Wardell, who has retired. Full story...Galaxy CFO
John Sobolewski has been named by Galaxy Resources Ltd as chief financial officer. Full story...International gold mining director
David Taylor will join International Gold Mining Ltd as a director. Mr Taylor has more then 20 years of experience in capital markets at Canada’s Thomson Reuters. Full story...Oxus gold changes
Oxus Gold plc has appointed James McBurney as non-executive director. He has 20 years’ experience with the banking sector and has held senior positions in Bank of America, Merrill Lynch, Goldman Sachs and JNR (UK) Limited. Full story...Globestar officer
GlobeStar Mining Corp has named Eric Olson as senior vice-president and chief operating officer. Full story...Journal Team Diary
Japan's golden waste
Japan, not known for its wealth of mineral resources, has reportedly discovered a new source of gold: sewage. Full story...Site Search
Log inIssue: 06/02/09
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
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