11/12/2009
Ravensthorpe changes hands
First Quantum Minerals Ltd is acquiring the Ravensthorpe nickel operation from BHP Billiton for US$340 million. The deal, through wholly-owned First Quantum Minerals Australia Pty, should be finalised in the first quarter of next year. Full story...Accountability bill would hurt industry
A Canadian private-members bill which aims to improve the accountability of Canadian companies operating in developing countries has been labelled “unnecessary and damaging” to the Canadian mining industry. Full story...Miners pull out as Guinea unrest worsens
The political unrest in Guinea continues to worsen after the country’s self-imposed president Captain Moussa Dadis Camara was shot by a bodyguard last week Full story...UN sanctions to hit DRC trade
Minerals and arms smuggling worth millions of dollars persists in the east of the Democratic Republic of the Congo, despite international sanctions, the United Nations has said Full story...
Production and Markets
Accountability bill would hurt industry
A Canadian private-members bill which aims to improve the accountability of Canadian companies operating in developing countries has been labelled “unnecessary and damaging” to the Canadian mining industry. Full story...
BHP Billiton and Rio Tinto sign iron ore JV
BHP Billiton and Rio Tinto have officially formalised the joint-venture agreement over the two companies' iron-ore assets in Western Australia Full story...Saskatchewan's incentive
The government of Saskatchewan has announced plans to introduce a five-year tax incentive for companies that process imported minerals into prime metal Full story...Miners pull out as Guinea unrest worsens
The political unrest in Guinea continues to worsen after the country’s self-imposed president Captain Moussa Dadis Camara was shot by a bodyguard last week Full story...UN sanctions to hit DRC trade
Minerals and arms smuggling worth millions of dollars persists in the east of the Democratic Republic of the Congo, despite international sanctions, the United Nations has said Full story...Thompson expenditure
Thompson Creek Metals Co has announced plans to increase its capital expenditure to US$298 million in 2010, incorporating US$89 million in sustaining capital and US$209 million for an expansion of the Endako molybdenum mine Full story...Gold Fields quake
Gold Fields Ltd has reported that the bodies of two employees have been recovered after an earthquake caused a fall of ground at its Driefontein mine in South Africa on December 6 Full story...Coal guidance
Teck Resources Ltd has released ‘guidance’ for its coal production next year Full story...Jubilee's first Sylvania smelt
Sylvania Resources Ltd and Jubilee Platinum Ltd have announced successful treatment results from smelting at the latter’s Conroast DC arc furnace Full story...Exploration & Development
Cortez Hills setback for Barrick
A US appeals court has told Barrick Gold Corp that further work should be done on the environmental impact of the company’s US$500 million Cortez Hills gold project in Nevada Full story...
Sulliden to advance Shahuindo after study
Sulliden Gold Corp will commission a feasibility study for its Shahuindo gold-silver project in Peru, following what it described as a positive independent scoping study Full story...Noront receives Blackbird resource
Noront Resources Ltd, currently in a takeover battle with Cliffs Natural Resources Inc for Freewest Natural Resources Canada Inc, has released an independent initial resource estimate for its Blackbird chromite deposit in the McFaulds Lake region of Ontario Full story...Stornoway more than triples Renard resource
The Renard diamond project, within the Foxtrot joint venture in Quebec between Stornoway Diamond Corp and Soquem Inc, is estimated to contain 36.3Mct of diamonds, more than triple the amount previously thought. Full story...Firestone to develop BK11
The board of directors of Firestone Diamonds plc has decided to develop the company’s 80%-owned BK11 diamond mine in Botswana Full story...Santa Rita commissioned
Mirabela Nickel Ltd has commissioned the processing plant at its Santa Rita sulphide nickel mine in Brazil’s Bahia State. The company said it had achieved the design rate of 4.6Mt/y with both mechanical and electrical components, and was optimising the plant and mining operations. The rate was expected to be achieved with both plant and mine during the June 2010 quarter Full story...Kokomo assays
Infill drilling at the Kokomo lateritic nickel-cobalt deposit at Metallica Minerals Ltd’s Nornico project in northern Queensland has returned wide zones of mineralisation Full story...Cöpler intercepts
Exploration drilling at Anatolia Minerals Development Ltd’s Çöpler gold-silver project in Turkey has returned results that the company interpreted as extensions to mineralisation Full story...Farellon results
Red Metals Resources Ltd has received results from confirmation drilling completed at its Farellon gold-copper property in Chile Full story...London updates Isua estimate
An independent estimate for London Mining plc’s Isua iron-ore deposit in Greenland has delineated JORC-compliant overall resources of 574Mt at an average grade of 37% Fe Full story...Stornoway more than triples Renard resource
The Renard diamond project, within the Foxtrot joint venture in Quebec between Stornoway Diamond Corp and Soquem Inc, is estimated to contain 36.3Mct of diamonds, more than triple the amount previously thought Full story...Kodo intercepts
Results from Mwana Africa plc’s diamond-drilling programme at the Kodo Main section of its Zani-Kodo gold property in the Democratic Republic of the Congo indicate that the known mineralisation extends at depth and appears to be widening Full story...Two Mile Hills assays
Troy Resources NL will conduct a further eight-hole drilling programme at the Two Mile Hill prospect at its Sandstone gold mine in Western Australia, following recent intersections of high-grade mineralisation in banded iron formation Full story...Gurupi adds to Jaguar resource
Jaguar Mining Inc reports that the newly-acquired Gurupi gold project in northern Brazil has contributed a 72% increase to its company-wide measured and indicated resources, which are now estimated to contain 6Moz of gold Full story...Echo confirmation
Sabina Gold & Silver Corp has received the final results from a drilling programme targeting the newly-discovered Echo zone at its Back River gold property in Canada's Nunvut Territory. Full story...New Barlee zone
Initial results from Beacon Minerals Ltd’s Barlee gold property in Western Australia have returned high-grade results from reverse-circulation drilling at the new Halleys West zone Full story...Eleckra intercepts
Eleckra Mines Ltd has intersected high-grade gold mineralisation during infill drilling at the Khan North deposit, part of its Yamarna gold project, 150km east of Laverton in Western Australia Full story...Ivanhoe details Oyu Tolgoi 2010 budget
Ivanhoe Mines Ltd has committed US$758 million next year for development of the US$3-3.5 billion Oyu Tolgoi copper-gold project, following the signing of an investment agreement with the Mongolian government Full story...Catalpa raises Edna May reserves
Drilling results and a change in gold price assumption have contributed to an increase in resources and reserves at Catalpa Resources Ltd’s A$92 million (US$83.5 million) Edna May gold project in Western Australia Full story...Mt Padbury assays
Montezuma Mining Company Ltd has received assay results from drilling completed by Sinosteel Midwest Corp Ltd, which holds an option over the iron-ore rights to Montezuma’s Mt Padbury property in Western Australia Full story...Finance
Ravensthorpe changes hands
First Quantum Minerals Ltd is acquiring the Ravensthorpe nickel operation from BHP Billiton for US$340 million. The deal, through wholly-owned First Quantum Minerals Australia Pty, should be finalised in the first quarter of next year. Full story...
Cameco sells Centerra equity
Cameco Corp has finally reached an agreement to dispose of its residual 48.5% stake in Centerra Gold Inc. The net proceeds of C$872 million (US$820 million) will be used by Cameco “primarily to grow its core uranium business as it pursues its target of doubling uranium production”. Full story...Banlaw-Banro agreement
Banlaw Africa has entered into a memorandum of understanding with Banro Corp, and is finalising a contract to provide infrastructure and civil works for Phase 1 of the latter’s Twangiza gold project in South Kivu Province, Democratic Republic of the Congo Full story...Xstrata takes on US$2.4 billion impairment charge
Xstrata plc has announced US$2.4 billion in impairment charges for 2009 after closing a number of nickel and copper assets, including its Kidd metallurgical site in Canada Full story...Rusal's HK listing delayed, again
The Hong Kong stock exchange (HKEx) continues to delay approval for a proposed initial public offering (IPO) by UC Rusal Full story...Allied raises C$145m for PNG operations
Allied Gold Ltd has raised C$145 million (US$136 million) in its initial public offering on the Toronto Stock Exchange, selling 432 million shares at C$0.33/share Full story...ATH gets approval
UK coal producer ATH Resources plc this week reported a small increase in revenue for the year to October 4. The AIM-listed company posted revenue of £77.5 million (US$126 million) despite a 10% fall in output to 1.8Mt Full story...Mines and Money
Many, many congratulations for once again organising an excellent Mines and Money conference and exhibition. It gets better every year, and the introduction of free tickets to the exhibition hall was an inspired move, encouraging investors, students and other interested parties to learn more about our industry. The mood was certainly more upbeat than last year and we had many more enquiries at our stand. Full story...Royalty rivalry
Resource royalty firm Franco-Nevada Corp has made a takeover offer for its smaller rival International Royalty Corp Full story...Felix takeover gets seal of approval
Yanzhou Coal Mining Co’s A$3.3 billion (US$2.9 billion) takeover offer for Australian coal producer Felix Resources Ltd has been approved by both Felix shareholders and the Chinese authorities Full story...Battle brews over ‘ring of fire’ assets
The battle between Noront Resources Ltd and Cliffs Natural Resources Inc for Freewest Resources Canada Inc has reached boiling point Full story...Fifth Column
Transforming Moose Pasture
Tim Coughlin says that working for AngloGold in Columbia at the end of the 1990s whetted his appetite for what he describes as “frontier exploration”. He points out that today the probability of discovering big, world-class mining projects is higher in prospective, yet neglected, regions – for example, some parts of the former Soviet Union (FSU) that are now developing free market economies. Full story...Reports
Mining Journal Outstanding Achievement Awards 2009
The winners of the 2009 Mining Journal Outstanding Achievement Awards were announced to 750 guests at a black-tie dinner on Wednesday, December 2. The event (held at London’s Old Billingsgate) was hosted by John Humphrys, the well-known UK broadcaster. Full story...
Investor Seminars: Australia Day 11/09 - Brighter message from down under
This year’s Australia Day Investor Seminar in London took place under much better market conditions than a year earlier Full story...Eritrean charms
Recent remote-sensing investigations have demonstrated that Eritrea is prospective for mineral deposits Full story...Zinc supply limited by cutbacks
The international zinc-mining and smelting industry has done well to mitigate the effects of the financial crisis Full story...New World's big spend to modernise coal mines
When Klaus Dieter-Beck joined New World Resources NV in 2007, he realised quickly that the company’s production equipment was outdated and in need of significant upgrading. Significant – and expensive – but also vital to the company’s standing as one of Europe’s top coal-mining companies. Full story...Mines and Money London 2009 - Guarded optimism returns
There was a marked improvement in sentiment at this year’s Mines and Money conference in London. The two-day conference and exhibition, which is organised by Aspermont UK (publisher of Mining Journal), saw sharply higher delegate numbers, and much more investor activity, than at last year’s event Full story...People and Appointments
Gomwe to head Anglo SA
Godfrey Gomwe has been appointed executive director of Anglo American South Africa with immediate effect Full story...Harry Winston jewellery chief
Harry Winston Diamond Corp has announced the appointment of Frederic de Narp to the position of president and chief executive officer of Harry Winston Inc, its New York-based jewellery and watch subsidiary Full story...JDA Indonesia appointment
Terry Moore has recently been appointed to the role of president director of JDA Indonesia PT Full story...Alhambra VP
Paul Marchenko has been appointed as vice president of business development for Alhambra Resources Ltd Full story...Journal Team Diary
Shimmer Time
Scrap-gold trader Cash4Gold says it has made the three-time grammy award winner, Stanley Kurk Burrell, an equity partner Full story...Sunday Times points at decade's best
The Sunday Times newspaper has highlighted gold and Randgold Resources Ltd as two top-performing investments since the FTSE100 index hit an all-time high in 1999 Full story...Site Search
Log inIssue: 11/12/2009
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
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Senior Hydrogeologist - Schlumberger
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