12/03/2010
London set for mining IPOs
Market activity in London will receive a boost in coming weeks as the local bourse prepares for its first sizeable new mining initial public offerings (IPOs) since the middle of 2008 Full story...Coking coal prices: Structural change
Initial coking-coal contract prices have settled at US$200/t, 55% higher than previous benchmark prices, according to reports Full story...'Catastrophic' effect of iron-ore hike
Rising iron-ore prices could result in a “catastrophe” for western steel firms Full story...Batista jumps up rich list
Brazilian Eike Batista, controlling shareholder of iron-ore producer MMX Mineraçao & Metalicos SA, is the biggest gainer in this year’s rich-list from Forbes Magazine. Full story...
Production and Markets
Coking coal prices: Structural change
Initial coking-coal contract prices have settled at US$200/t, 55% higher than previous benchmark prices, according to reports Full story...Patriot resumes mining, again
Patriot Coal Corp has for the second time this year resumed operations at its Federal No2 underground mine near Fairview in West Virginia after they were suspended due to issues with air quality Full story...Cluff resource update
Cluff Gold plc has released an updated, NI 43-101 compliant, reserve and resource statement for its two producing mines Full story...Long-only investments
In a letter to the Editor, Peter Hollands writes that "Your leading article on February 12, my study (as referenced in the issue of February 5) and Professor Crowson’s letter (March 5) may each have a point. Surely, as Professor Crowson points out, the prices of many commodities have risen since 2004. But that does not mean that they have necessarily all risen for exactly the same mix of reasons." Full story...Exploration & Development
Eagle study forecasts 170,000oz/y
An independent prefeasibility study for development of Victoria Gold Corp’s Eagle gold project, part of its Dublin Gulch property in Canada’s Yukon Territory, has estimated annual average output over the seven-year operation at 170,000oz, said Chad Williams, president and chief executive Full story...
Kings scopes Mexican gold
A scoping study described as “highly encouraging” has been produced for the Cerro Del Gallo precious metals project of Kings Minerals NL Full story...FerrAus adds to its iron
FerrAus Ltd has lifted the total resource at its eponymous iron-ore project in Australia’s Pilbara by 66% to 276.9Mt Full story...Pele finds gold at East Highland
Pele Mountain Resources Inc has said a program to locate near-surface, mineable gold at its East Highland project has proved successful Full story...Second zone at Mt Jewell
The first seven RC holes drilled on the Hughes prospect at Pioneer Resources Ltd’s Mt Jewell project have intersected “significant mineralisation” Full story...Argentina update for Patagonia
A drilling update has been reported by Patagonia Gold plc for its La Manchuria gold-silver project in Santa Cruz province, Argentina Full story...McPhillamys proceeds to BFS
Newmont Mining Corp has given the go-ahead for a bankable feasibility study on the McPhillamys gold deposit in New South Wales Full story...Garrison strike for Northern
Toronto-based Northern Gold Mining Inc has intersected 20m of 6.74g/t gold in recent drilling on its Garrison property east of Timmins Full story...Chester boost for Trelawney
Toronto-based Trelawney Mining and Exploration Inc has announced the results from four follow-up drill holes on its Chester project near Gogama, Ontario Full story...Underground potential at Minto
Assay results have been announced from six of 17 holes completed to-date at the Minto property of Capstone Mining Corp Full story...Boseto backing
Discovery Metals Ltd has agreed an off-take agreement and equity deal with metals trader Transamine for Discovery’s Boseto copper project in Botswana Full story...Dachang results
Inter-Citic Minerals Inc has received further results from drilling at the Placer Valley zone of its Dachang gold property in China. The zone was not included in a scoping study last year Full story...London Mining boosts Isua resource
London Mining plc has increased the iron-ore resource at its wholly-owned Isua project in Greenland by almost two-thirds after expanding the shell of the proposed pit Full story...Golden Highway: Initial results positive
Moneta Porcupine Mines Inc, which is in its centenary year, has announced initial results from this year’s 30,000m drill programme Full story...Finance
London set for mining IPOs
Market activity in London will receive a boost in coming weeks as the local bourse prepares for its first sizeable new mining initial public offerings (IPOs) since the middle of 2008 Full story...
Cape Lambert to sell Lady Annie
ASX-listed Cape Lambert Resources Ltd will sell its Lady Annie project in Queensland to an unknown Asian buyer, abandoning the proposed listing it had planned for spin-off Q Copper, MiningNews.net reports Full story...Pangea puts Dimbi on sale
African-focused Pangea Diamond Fields plc intends to sell the Dimbi project in the Central African Republic to a senior employee Full story...NovaGold announces US$175m financing
Dual-listed NovaGold Resources Inc has said it plans to raise US$175 million for exploration and acquisitions by selling shares to investment funds managed by two of its major shareholders Full story...Rio Novo closes IPO
Rio Novo Gold Inc has raised C$40 million (US$38.9 million) from its initial public offering, which closed on Monday Full story...Kenmare eyes Moma expansion
Irish miner Kenmare Resources plc plans to raise almost £180 million (US$269 million), through a share placement, for the expansion of its Moma titanium mine in Mozambique Full story...Glencore takes back Prodeco
Glencore International AG will buy back Colombian coal unit Prodeco from Xstrata plc Full story...'Catastrophic' effect of iron-ore hike
Rising iron-ore prices could result in a “catastrophe” for western steel firms Full story...Batista jumps up rich list
Brazilian Eike Batista, controlling shareholder of iron-ore producer MMX Mineraçao & Metalicos SA, is the biggest gainer in this year’s rich-list from Forbes Magazine. Full story...Essar Group ventures into coal
Indian company Essar Group has made inroads into coal mining with the purchase of Trinity Coal from Denham Capital for US$600 million Full story...Hargreaves, UK Coal in merger talks
Hargreaves Services plc has confirmed that it is exploring a potential merger with UK Coal plc after the latter company revealed on Tuesday that it is in takeover discussions Full story...Lihir sells Ballarat
Lihir Gold Ltd is selling its Ballarat project in Victoria, Australia, to Castlemaine Goldfields Ltd for A$4.5 million (US$4.1 million) in cash, plus an additional 2.5% royalty on future production, capped at A$50 million Full story...Atlas Iron to buy Aurox for A$143m
Atlas Iron Ltd, the Australian iron-ore producer, will buy Aurox Resources Ltd for A$143 million (US$131 million), a 170% premium to its market value prior to the deal Full story...Red Rock rerating
The recent ‘company transforming’ deal for Jupiter Mines Ltd has caused a positive re-rating for Red Rock Resources plc despite the company having its equity in Jupiter diluted from 25.1% to around 6% Full story...Baker Steel to list fund
Baker Steel Capital Managers plans to rebrand and list its Genus Capital Fund on the London Stock Exchange as an investment trust, raising US$100 million in the process. Full story...Canadian mining: Strength returning
Economic strength is returning to the mining and metals sector in Canada, according to a report by Ernst & Young published to coincide with this week’s Prospectors & Developers Association of Canada conference Full story...Underworld bid
Kinross Gold Corp is to acquire 100% of Underworld Resources Inc in an agreed takeover bid that values the latter at C$139 million (US$135 million) Full story...Fifth Column
Career choices
Ian Cockerill, one of South Africa’s most respected executives, has puzzled some observers by his recent job choices Full story...Reports
Fund Fundamentals: Winning allocations
In the latest of a series of interviews with professional investors in the resources sector, Mining Journal talks to the manager of the Falcon Gold Equity Fund Full story...
Marine mining: Into the deep
Traditionally limited to near-shore dredging operations, marine mining is increasingly testing deeper waters for new deposits rich in cobalt, copper, gold, zinc and silver Full story...PDAC president attack's 'damaging' C-300 bill
Using his introduction to the Prospectors and Developers Association of Canada convention this week, its president, Jon Baird, ramped up the organisation’s opposition to the C-300 bill that is currently being considered in Canada’s parliament Full story...People and Appointments
Project manager joins African Eagle
African Eagle Resources plc has appointed Chad Czerny as project manager for the Dutwa oxide nickel project in Tanzania Full story...On board La Quinta
La Quinta Resources Corp has appointed Walter Martin to its board Full story...Kalahari boost
AIM-listed Kalahari Minerals plc, which has a 40.3% stake in Extract Resources, has appointed Richard Lockwood as a non-executive director Full story...Leslie switches
Jonathan Leslie has been named as chief executive officer of uranium exploration and development company Extract Resources Ltd Full story...Morrow joins Cobre
Cobre Exploration Corp has appointed Arden Morrow as its new chairman Full story...Centamin make Michael CEO
Harry Michael has joined the board of Centamin Egypt Ltd as chief executive officer Full story...Journal Team Diary
Rio Tinto's Star Wars
The Wall Street Journal initiated a spate of robot articles this week following a story about Rio Tinto plc’s research into the use of ‘robots’ at mining locations that are too remote, too dangerous or the conditions too harsh for humans Full story...Site Search
Log inIssue: 12/03/2010
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
Do you want to help develop the world’s most detailed commercially-available 4D Earth Model to support the mining majors?
Opportunities for Senior & Principal Level Consultants - SRK
Professionals needed for central Moscow office.
Senior Hydrogeologist - Schlumberger
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