09/10/09
Tenke talks deadlocked
Negotiations over the contract for the Tenke Fungurume mine in the Democratic Republic of the Congo have reached “deadlock”, deputy minister of mines Victor Kasongo has told Mining Journal Full story...Mongolia signs historic Oyu Tolgoi deal
The Mongolian government has signed an investment agreement for Ivanhoe Mines Ltd’s Oyu Tolgoi copper-gold project, after more than two years of negotiations Full story...AngloGold and De Beers sign undersea JV
AngloGold Ashanti Ltd and the De Beers Group have formed a joint venture to explore for gold and other minerals in marine deposits worldwide Full story...Petropavlovsk and Leader in gold-fund deal
Petropavlovsk plc, formerly Peter Hambro Mining, has signed a memorandum of understanding with Leader, Russia’s largest asset management company, to create a US$100 million fund involved in the acquisition and development of gold mining businesses in the country Full story...
Production and Markets
BHPB reports mechanical failure at Olympic Dam
BHP Billiton has reported damage to the haulage system in the Clark shaft at its Olympic Dam uranium and copper mine Full story...
Tenke talks deadlocked
Negotiations over the contract for the Tenke Fungurume mine in the Democratic Republic of the Congo have reached “deadlock”, deputy minister of mines Victor Kasongo has told Mining Journal Full story...Zimbabwe to challenge Marange ruling
The Zimbabwe government has announced that it will appeal a High Court ruling returning the Marange diamond region to British-based African Consolidated Resources plc Full story...DRDGold: less stricken
Last week Mining Journal reported that 4,400 workers had gone on strike at DRDGold Ltd’s Blyvoor and Crown mines in South Africa. Full story...Gold Fields maps out plan for South Deep
Gold Fields Ltd has detailed its R8.5 billion (US$1.14 billion) plan to boost production at the South Deep gold mine to 750,000oz/y from December 2014 Full story...Asia-Pacific M&A increasing
Fitch Ratings said it anticipates an increasing level of cross-border mergers and acquisitions by Asia-Pacific companies over the next few years Full story...MMG zinc spill
Some 300t of zinc concentrate, comprising about 160t of zinc metal, has been discharged from a pipe failure at the Century operation of Minerals and Metals Group Ltd Full story...Exploration & Development
Mongolia signs historic Oyu Tolgoi deal
The Mongolian government has signed an investment agreement for Ivanhoe Mines Ltd’s Oyu Tolgoi copper-gold project, after more than two years of negotiations Full story...
AngloGold and De Beers sign undersea JV
AngloGold Ashanti Ltd and the De Beers Group have formed a joint venture to explore for gold and other minerals in marine deposits worldwide Full story...Sleeping Giant pour
North American Palladium Ltd has poured the first gold bars at its restarted Sleeping Giant gold mine in Quebec Full story...Echo discovery
Sabina Silver Corp has discovered a new zone of gold mineralisation near its Golden Goose gold deposit, part of its Back River property in Canada's Nunavut Territory. Full story...Booysendal expected to convince Northam board
Northam Platinum Ltd’s board of directors is expected to approve the development of the Booysendal platinum group metals (PGM) project in South Africa early next year, following the completion of the feasibility study Full story...Nyota intercepts
Mantra Resources Ltd has received results from drilling at its Mkuju River property in Tanzania that it interprets as indicating expansion of the recently-discovered mineralisation at the Nyota prospect Full story...Sabodala results
Continued drilling at the joint-venture Sabodala gold property in Senegal has intersected further mineralisation at several deposits, according to operator Oromin Explorations Ltd Full story...Initial Morelos gold resource
Gleichen Resources Ltd has announced an initial resource estimate for the Morelos gold project in Mexico’s Guerrero state, in which Gleichen is acquiring a 78.8% indirect interest from Teck Resources Ltd Full story...Gold Fields presses ahead with Athena
Gold Fields Ltd has started a new underground project, based on the Athena gold deposit, at its St Ives operation in Western Australia Full story...Platina plans gold focus at Skaergaard
Platina Resources Ltd reports that after an independent review of last year's scoping study for development of its Skaergaard gold-platinum group metals deposit in Greenland it plans to focus on a gold zone within the larger resource for the current prefeasibility study. Full story...Ventana's Mascota returns more high grades
The continuing drilling programme at Ventana Gold Corp’s Mascota gold zone, part of La Bodega gold property in Colombia, has returned what the company said was the highest-value intersection so far Full story...CUMO assessment encourages Mosquito
Mosquito Consolidated Gold Mines Ltd is considering development of its CUMO copper-molybdenum project in Idaho as a large-scale open-pit operation producing 91,000-136,000t/d Full story...Central Bore find
Eleckra Mines Ltd has discovered high-grade gold mineralisation at the Central Bore prospect, part of its Yamarna property in Western Australia Full story...Reno Creek could support 2Mlb/y
An independent prefeasibility study for development of the Reno Creek uranium deposit in Wyoming has found it could support production of up to 2Mlb/y (about 900t) of U3O8. Full story...Aura's Serrote scoping
The results of a scoping study for development of Aura Minerals Inc's Serrote da Laje copper-gold-iron project in Brazil have convinced the company to take the project to the stage of a feasibility study by the September 2010 quarter. Full story...Greek approval for European Goldfields projects
European Goldfields Ltd has received preliminary environmental approval for its Skouries copper-gold and Olympias polymetallic projects in Halkidiki province, Greece, after a wait of several years Full story...Decade results
Drilling at the Red Cliff gold property in British Columbia has intersected mineralisation in an extension to the Montrose zone. Full story...623 Manto assays
Excellon Resources Inc has found extensions to the massive-sulphide mineralisation discovered at the 623 Manto within its Platosa polymetallic property in Mexico. Full story...Phillipus results
West Australian Metals Ltd has intersected primary uranium mineralisation with the initial holes of its drilling programme at the first regional target tested within its 80%-owned Marenica propeorty in Namibia. Full story...Venturex intercepts
Further drilling at the Evelyn prospect, part of Venturex Resources Ltd's Liberty-Indee polymetallic property in Western Australia's Pilbara region, has confirmed discovery of massive sulphide mineralisation, according to the company. Full story...Toka Tindung support
The Indonesian provincial government in North Sulawesi has written a letter of support for Archipelago Resources plc's delayed development of the 85%-owned Toka Tindung gold project. Full story...Golden Ridge assays
Golden Predator Royalty and Development Corp has received assay results from holes testing epithermal gold mineralisation at its Golden Ridge property in California. Full story...Finance
Hochschild raises US$260 million
Hochschild Mining plc, the Latin American silver miner, has raised US$260 million through debt and equity to invest in existing assets and potentially make acquisitions Full story...
Lion Group makes rival bid for Polaris
Lion Asiapac Ltd and private equity group Vital Bond Ltd have joined forces to make a bid for Australian iron-ore explorer Polaris Metals. Full story...Chariot invests US$10.5 million
Chariot Resources Ltd has announced it will invest US$10.5 million in the Mina Justa project in Peru Full story...Kalahari share purchase agreement
Kalahari Minerals plc has entered into a conditional share-purchase agreement with North River Resources plc. NRR will acquire the entire issued share capital of West African Gold Exploration (Namibia) Ltd (WAGE) and Craton Diamonds Ltd, both in Namibia, which hold gold and base-metal assets Full story...Colorado gold buy
Denver-based Colorado Goldfields Inc has acquired a mining lease (with a purchase option) for the Brooklyn gold property in Colorado Full story...Pamodzi to enter endgame
The JSE SENS service has this week announced that a final liquidation order has been granted against South African miner Pamodzi Gold Ltd in the North Gauteng High Court in Pretoria Full story...Alcoa enjoys profit turnaround after three poor quarters
Aluminium producer Alcoa Inc has recovered from three consecutive loss-making quarters, posting a US$73 million profit in the three months to September Full story...Petropavlovsk and Leader in gold-fund deal
Petropavlovsk plc, formerly Peter Hambro Mining, has signed a memorandum of understanding with Leader, Russia’s largest asset management company, to create a US$100 million fund involved in the acquisition and development of gold mining businesses in the country Full story...Galaxy raises A$65 million
Galaxy Resources Limited has successfully completed an institutional capital raising of A$65 million (US$58 million). Full story...Catalpa on budget
Catalpa Resources Ltd has announced that the fully-funded construction of its US$92 million flagship Edna May Gold Project, WA, is proceeding on time and within budget. Full story...Oz to defend class action
A class action has been filed against Oz Minerals Ltd in the Federal Court of Australia, over alleged breaches of disclosure obligations Full story...Gammon raises Mexican gold-silver development funds
Halifax-based Gammon Gold Inc has reached an agreement to sell US$100 million of shares Full story...Avoca plant A$1.5 million under budget
Perth-based gold producer Avoca Resources Ltd has announced that operations have commenced at its Trident paste plant Full story...Xstrata given Anglo deadline
The UK Takeover Panel has told Xstrata plc it must make a formal offer for Anglo American plc by October 20, or walk away from the deal for a minimum of six months Full story...ZincOx risks losing Jabali loan after delay
ZincOx Resources plc will have to assure lenders that the Jabali zinc project in Yemen is still worthy of their investment, after it was announced the development is up to three months behind schedule Full story...Territory offered short debt reprieve
Territory Resources Ltd has transferred its bank debt to major shareholder Noble Resources Ltd Full story...Centamin LSE date
Centamin Egypt Ltd says it expects to transfer its listing from the AIM market to the official list of the London Stock Exchange on, or around, November 5 Full story...Rusal to list on Hang Seng
UC Rusal, the largest aluminium producer, is applying to become the only Russian company listed on the Hong Kong stock exchange Full story...Sino Gold share surge
The share price of Sino Gold Mining Ltd has risen since the Australian Foreign Investment Review Board unconditionally approved Eldorado Gold Corp’s takeover bid Full story...IGC transactions
International Goldfields Ltd has signed a formal asset sale agreement with NKWE Platinum Ltd. The deal is for IGC to relinquish its 15% interest in the Buchveldt platinum region, SA, for A$60 million (US$53 million). Full story...Fifth Column
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Reports
Still froth
The Mining Journal ‘Comment’ of September 18 referred to UNCTAD’s Trade and Development Report, which criticised the strength of speculative forces in various markets Full story...
Companies struggle on in Zimbabwe
The tide may be turning for the troubled African nation of Zimbabwe – but there is still a long way to go before normal conditions return Full story...China facilitates global buying spree
In 1978, former Chinese leader Deng Xiaoping started opening up the reclusive Asian nation to the outside world. At that time, China had a miniscule global economic footprint. After Deng, China began the process of integrating itself in the world, based on a model of foreign direct investment in China, with net exports Full story...The waiting game
As we drive through the town of Rio Tinto towards the historic mine, red waste dumps lining the sides of the highway, Mr Adams is explaining to the assembled troupe of media and analysts why the company has been waiting for more than a year for regulatory approval to restart the operation, and why he is willing to continue waiting. Full story...Shareholder activism: the new smoking gun?
A campaign spearheaded by the charity ActionAid to stop London-listed Vedanta Resources plc opening a bauxite mine and alumina refinery in India gained quite a bit of mainstream media coverage earlier this year Full story...People and Appointments
Daniel Stewart appoints adviser
Daniel Stewart & Co has appointed Chris Pearson as a specialist mining analyst to add to the company’s growing research capability Full story...
ENRC new ED and CFO
Zaure Zaurbekova has been appointed executive director and chief financial officer of Eurasian Natural Resources Corp with immediate effect Full story...New executive for Austral
Austral Gold Ltd has announced the appointment of Stabro Kasaneva, the current COO, as a director of the company. Full story...Goldfields new non-exec
Peter Ruxton has been appointed as the new non-executive chairman of Central China Goldfields plc. Dr Ruxton has many years experience in the natural resources sector and mining private equity Full story...True North new advisers
True North Gems announced that Jeff Giesbrecht and Warren Boyd have been appointed to the company’s advisory board. Full story...Homeland management changes
Homeland Energy Group Ltd has announced that Jeff Lowe, a current director of the company, has been appointed acting chief financial office following the resignation of Andrew Gottwald from that position Full story...Linear appoints COO
Linear Gold Corp has announced the appointment of Mike Sylvestre as chief operating officer of the company. Full story...Mines management new VP
Michael Rasmussen has been appointed vice president of exploration at Mines Management Inc Full story...Journal Team Diary
SmartCap to reduce mine deaths
The Australian research organisation CRC Mining has designed a cap, called SmartCap, which measures the wearer’s brainwaves to warn of fatigue Full story...Site Search
Log inIssue: 09/10/09
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