06/08/2010
Xstrata looks to internal growth
Xstrata plc will meet a forecast 50% growth in volumes by 2014 through the development of the company’s own projects, according to chief executive, Mick Davis Full story...Adani completes largest investment by an Indian company into Australia
Adani Enterprises Ltd, the diversified Indian group, will buy Linc Energy Ltd’s coal licences in Queensland’s Galilee Basin for A$500 million (US$456 million) and a A$2/t royalty on future production. Full story...First Quantum says Kolwezi faces liquidation
Canada’s First Quantum Minerals Ltd has reported the joint venture in control of the Kolwezi tailings project in the Democratic Republic of Congo (DRC) faces liquidation Full story...Batista exploring MMX sale
Brazilian Eike Batista, the world’s eighth richest man, is reportedly in talks to sell his stake in iron-ore producer MMX Mineracao e Metalicos SA and a port on the country’s southeastern coast, according to Brazil’s O Estado de Sau Paulo newspaper Full story...Kinross asks for trust over Red Back valuation
The chief executive of Kinross Gold Corp, Tye Burt, has said he is quite confident his company can deliver the US$1.0-1.5 billion “trust me” component in its US$7.1 billion share offer for Red Back Mining Inc Full story...Zambia mines minister backs Vale
Zambian mines minister Maxwell Mwale has defended Vale SA’s planned investment in the country’s new Konkola North mine in the face of opposition from local unions Full story...ANC discussion document questions nationalisation
Ahead of next month’s general council meeting, the South African ruling party, the African National Congress (ANC), has released seven discussion documents on issues to be addressed Full story...
Production and Markets
Centerra shows production increase despite Kyrgyz unrest
Centerra Gold Inc increased total gold production by 10% in the quarter to end-June, despite civil and political unrest in the Kyrgyz Republic Full story...
First Quantum says Kolwezi faces liquidation
Canada’s First Quantum Minerals Ltd has reported the joint venture in control of the Kolwezi tailings project in the Democratic Republic of Congo (DRC) faces liquidation Full story...Zambia mines minister backs Vale
Zambian mines minister Maxwell Mwale has defended Vale SA’s planned investment in the country’s new Konkola North mine in the face of opposition from local unions Full story...Letter to the editor
Hernando Otero writes to Mining Journal regarding the free trade agreement between Canada and Colombia Full story...Kazakhgold blames Assaubayev family for asset freeze
Kazakhstan’s Agency of Economic and Corruption Crimes (AECC) has placed a freezing order on bank accounts held by JSC Kazakhaltyn (a subsidiary of Kazakhgold Group Ltd) Full story...Harmony Reserves
Harmony Gold Mining Company Ltd had reported reserves of 48.1Moz at the end of June, similar to the number reported a year earlier Full story...RSA clean energy
South Africa’s Department of Science and Technology has partnered with Anglo Platinum Ltd and Altergy Systems, to establish a company for the distribution and eventual manufacture of platinum fuel cells Full story...Mining accidents in China, Turkey
The death toll in an explosion at a coal mine in Linfen City in northern China’s Shanxi province rose to 17 this week, the official Xinhua news agency reported, citing local authorities Full story...Exploration & Development
Xstrata looks to internal growth
Xstrata plc will meet a forecast 50% growth in volumes by 2014 through the development of the company’s own projects, according to chief executive, Mick Davis Full story...
Hellyer processing options scoped
Bass Metals Ltd has received a scoping study for the exploitation of highly refractory gold within tailings at the company’s Hellyer base-metals project in western Tasmania Full story...Tropicana should be approved
AngloGold Ashanti Ltd chief executive officer Mark Cutifani believes that the A$600 million (US$548 million) Tropicana joint-venture gold development in Western Australia should receive approval later this year Full story...Vogel assays
Lake Shore Gold Corp said its drilling at the Vogel prospect, 3km from its Bell Creek mine and mill facilities, has intersected gold mineralisation with potential for open-pit mining Full story...Frog's Leg potential
Avoca Resources Ltd has received drilling results for underground holes targeting an extension of mineralisation at the joint-venture Frog’s Leg gold mine in Western Australia from operator La Mancha Resources Inc (51% interest). Avoca holds a 49% interest Full story...Zani-Kodo estimate for Mwana
Recent drilling at Mwana Africa plc’s 80%-owned Zani-Kodo gold property in the Democratic Republic of the Congo has led to an upgraded resource estimate Full story...Red Rabbit assays
Ariana Resources plc has completed further reverse-circulation drilling at the Kiziltepe gold prospect at its Red Rabbit property in Turkey. Full story...Universal approves Outokumpu project
Universal Resources Ltd has approved development of its Outokumpu copper project in Finland after completing a review of plans for the operation Full story...INCA uranium upgrade
Additional deep reverse-circulation drilling at the INCA uranium deposit in Namibia has enabled Deep Yellow Ltd to report a 17% increase in the metal contained in JORC-compliant mineral resources Full story...Vele defence
Coal of Africa Ltd (CoAL) has defended managers at its Vele colliery in South Africa after the country’s Minister of Water and Environmental Affairs, Buyelwa Sonjica, criticised environmental management at the development project Full story...Paguanta results
Diamond-drilling at Herencia Resources plc’s Paguanta polymetallic property in Chile has intersected broad zones of mineralisation, and the company will include the results in the latest resource estimate, scheduled for next month Full story...Republic finalises Amayapampa plan
Republic Gold Ltd has completed a feasibility study for development of its Amayapampa gold project in Bolivia, designing a seven-year operation that would produce about 680,000oz Full story...Ivanhoe's Merlin content rises, tonnage drops
An updated independent resource estimate by consultant Golder Associates has raised contained metal within Ivanhoe Australia Ltd’s Merlin molybdenum-rhenium deposit at its Mt Dore project in Queensland, but reduced the tonnage in which it is contained Full story...Rau intercepts
Atac Resources Ltd has completed the first phase of diamond-drilling at the East zone within its Rau gold property in Canada’s Yukon Territory Full story...Finnish gold results
Dragon Mining Ltd has received results from a diamond-drilling programme at its Kaapelinkulma gold property in Finland, where the company is planning a resource estimate. The company has applied for a mining licence and environmental permitting. Full story...Red Dome hits
Mungana Goldmines Ltd has intersected “substantial widths and grades of mineralisation” outside the limits of the current resource boundary at its Red Dome copper-gold property in Queensland Full story...Khan wins again
Khan Resources Inc has won a second court case concerning the incorrect invalidation of its licences over the Dornod uranium project in Mongolia Full story...Scoping suggests Livengood could produce 500,000oz/y
An independent preliminary economic assessment (or scoping study) for development of International Tower Hill Mines Ltd’s Livengood gold project in Alaska has found it could support an average annual gold output of 504,000oz Full story...Roper River results
Batavia Mining Ltd said it has outlined an oolitic haematite body 8km long and up to 1.2km wide, with a width of 3-4m with drilling at its Roper River property in Australia’s Northern Territory Full story...Kalia deal closed
Bellzone Mining plc has concluded definitive terms for the funding and development of infrastructure for its Kalia iron-ore project in Guinea with China International Fund Ltd (CIF) Full story...Liaoning resource
China’s Northeast Coalfield Geological Bureau has discovered a large coal deposit in Liaoning Province, according to the Xinhua news agency Full story...Finance
Baja secures Boleo financing approvals
Baja Mining Corp has secured all necessary credit approvals from the US Export-Import Bank and the Korea Development Bank to provide US$573 million in financing for construction of the Boleo copper-cobalt project in Mexico Full story...
Adani completes largest investment by an Indian company into Australia
Adani Enterprises Ltd, the diversified Indian group, will buy Linc Energy Ltd’s coal licences in Queensland’s Galilee Basin for A$500 million (US$456 million) and a A$2/t royalty on future production. Full story...De Beers’ asset sales may continue
De Beers could end up having made seven mining sales within five years, after the company confirmed it has received approaches for two more of its assets Full story...Batista exploring MMX sale
Brazilian Eike Batista, the world’s eighth richest man, is reportedly in talks to sell his stake in iron-ore producer MMX Mineracao e Metalicos SA and a port on the country’s southeastern coast, according to Brazil’s O Estado de Sau Paulo newspaper Full story...Kinross asks for trust over Red Back valuation
The chief executive of Kinross Gold Corp, Tye Burt, has said he is quite confident his company can deliver the US$1.0-1.5 billion “trust me” component in its US$7.1 billion share offer for Red Back Mining Inc Full story...ANC discussion document questions nationalisation
Ahead of next month’s general council meeting, the South African ruling party, the African National Congress (ANC), has released seven discussion documents on issues to be addressed Full story...Gloucester to take stake in Middlemount mine
Australia’s Gloucester Coal Ltd plans to raise A$455 million (US$416 million) to purchase the interest of the Middlemount mine in Queensland that is owned by Noble Group Ltd, its largest shareholder Full story...Continental buys into Mashala
Continental Coal Ltd will pay US$35 million to acquire a majority share in unlisted South African coal company Mashala Resources Ltd Full story...Barrick confirms 'rationalisation'
Barrick Gold Corp has said it is looking to add value to its Australian exploration licences. In a message to junior mining companies, Barrick said that it was“open for business” Full story...Gold Fields plans black ownership sales
Gold Fields Ltd is developing “a number of transactions” to meet its 2014 Black Economic Empowerment (BEE) equity-ownership requirements Full story...Rio invests another US$1bn in iron ore
Rio Tinto has announced the allocation of nearly US$1 billion in capital towards its iron-ore projects in Australia and Guinea Full story...ERA falls on half-year
Energy Resources of Australia (ERA) said its interim net profit dropped 82% because of a fall in uranium production and a stronger Australian dollar. Full story...Xstrata in agreement
Xstrata plc has entered into a non-binding agreement in respect of a potential acquisition of Canada-based Noranda Income Fund, which owns the CEZinc refinery and processing facility in Salaberry-de-Valleyfield, Quebec Full story...Barrick, Fresnillo lift dividends
Barrick Gold Corp has raised its quarterly dividend to US$0.12/share, a 20% increase from the previous payout Full story...Australian Senate criticises MRRT
An Australian Senate fuel and energy select committee report has criticised the government’s proposed Mineral Resource Rent Tax (MRRT), saying the “same mistakes are being repeated” as with the original Resources Super Profits Tax (RSPT) Full story...Teck's notes offering
Teck Resources Ltd has raised US$750 million from the sale of debt instruments Full story...NMDC results
NMDC Ltd, India’s largest iron-ore producer, has reported its best ever quarterly numbers for the three period to end-June Full story...Rambler toll treatment
Rambler Metals and Mining plc has signed a toll-processing agreement with privately owned Tenacity Gold Mining Company Ltd Full story...Kebble considered poison before shooting – court told
The trial of Glenn Agliotti, accused of conspiring to murder the mining magnate Brett Kebble in 2005, continued this week with Clinton Nassif testifying against his former boss Full story...Reports
Read More: Select Committee on Fuel and Energy mining tax report
The Mining Journal website includes the second interim report from Australia's Select Committee on Fuel and Energy on the mooted new mining tax. Full story...
New energy fuels growth
President Hifikepunye Pohamba and the ruling South West African People’s Organisation (SWAPO) were decisively re-elected in the presidential and National Assembly elections of November 2009 Full story...Time for change
South Africa's mining industry is passing through a period of considerable change, readjustment and reappraisal Full story...New mining 'land-grab'
Debate rages over proposed new laws requiring all foreign-owned companies in Zimbabwe to relinquish a majority of their ownership to ‘indigenous’ nationals Full story...Diversifying out of diamonds
The southern-African country is planning to exploit its base-metal and uranium resources Full story...Issue: 06/08/2010
PROFESSIONAL PLACEMENTS
General Manager Processing - OK Tedi Mining
Ok Tedi Mining Limited operates a world class open pit mine and copper concentrator located in the Western Province of PNG.
Chief Operating Officer - TiZir Limited
Key Leadership Role with a $600M Joint Venture Project in West Africa, competitive salary package on offer with Residential and FIFO options.
Chief Executive Officer - Tin International Ltd
Tin International Ltd. (“TIN”) is in the process of becoming an ASX listed tin development company with assets located in Germany.
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