12/12/08
Rio Tinto in cost-cutting drive
RIO Tinto revealed on Wednesday it would axe 14,000 jobs, cut capital spending by more than half and sell “significant assets” to preserve cash and stave off slowing demand for raw materials amid the global recession. Full story...Gilbertson ensures Platmin survival with investment
SOUTH African platinum company Platmin Ltd has signed an agreement with Pallinghurst Resources and the Bakgatla-Ba-Kgafela Tribe that will inject US$175 million into Platmin, rescuing the Pilanesberg project. Full story...China opens opportunities for individual investors in Hong Kong
THE Hong Kong stock exchange (HKEx) may soon get a trading boost as Chinese authorities consider allowing individual investors to trade on the exchange. Full story...Talvivaara ramping up and evaluating nickel expansion
TALVIVAARA Mining Co plc is already considering expansion of its mine in Sotkamo, Finland despite not yet being at full production and nickel prices that are substantially lower than when construction began. Full story...Chief criticises HudBay performance and prospects
CHIEF executive of HudBay Minerals Inc Allen Palmiere reportedly criticised his own company’s assets, while promoting the logic behind a merger proposal with Lundin Mining Corp. Full story...Fresnillo relegated, Randgold rises on FTSE 100
FRESNILLO plc, the world’s largest silver producer, has fallen from the FTSE 100, to be replaced by rising gold producer Randgold Resources Inc, the first gold company to enter the FTSE 100 in 19 years. Full story...DRC cuts tax to counter slump
THE government of the Democratic Republic of the Congo (DRC) has announced that it will cut taxes for mining companies, and finally conclude its mining contract review. Full story...
Production and Markets
Xstrata treads water at McArthur River
XSTRATA plc has curbed ore production by 20% at its McArthur River lead-zinc mine in northern Australia in response to slowing demand for metals. Full story...More aluminium output curtailed
UC RUSAL, the world’s largest aluminium producer, revealed it would soon close several potlines at its Bogoslovsk and Urals aluminium smelters in Russia, accounting for 2% of the group’s output. Full story...Codelco eyes copper rebound
CODELCO, the world’s largest copper producer, plans to expand output at the Gabriela Mistrel copper mine in northern Chile, despite a bleak near-term outlook for metal prices. Full story...Talvivaara ramping up and evaluating nickel expansion
TALVIVAARA Mining Co plc is already considering expansion of its mine in Sotkamo, Finland despite not yet being at full production and nickel prices that are substantially lower than when construction began. Full story...Mincor shelves Miitel mine on nickel drop
MINCOR Resources NL warned it would suspend production at its Miitel nickel mine in Western Australia from Christmas owing to the deterioration of the nickel price, and is unlikely to post a profit in the six months to December 31. Full story...More iron-ore production derailed as demand slides
CIA Vale do Rio Doce (Vale), the world’s largest iron ore producer, has suspended production at two iron ore pellet plants at the port of Tubarão, in Brazil,. Full story...Endako expansion suffers setback
THOMPSON Creek Metals Co has reduced capital expenditure and deferred an expansion at its Endako molybdenum mine in northern British Columbia owing to weak prices for the metal. Full story...Anvil halts copper output at Dikulushi
ANVIL Mining Ltd has suspended production at its Dikulushi copper mine in the Democratic Republic of Congo (DRC) owing to dwindling prices for the metal. Full story...Exploration & Development
Highland delays Russian projects to save cash
HIGHLAND Gold Mining Ltd has delayed commissioning of its Novoshirokinskoye gold-polymetallic joint venture project in Russia’s Chita region, and construction of the Mayskoye gold project in the country’s Chukotka region. Full story...De Beers warns Lukoil over Grib
DE BEERS’ 58%-owned subsidiary Archangel Diamond Corp (ADC) has notified OAO Lukoil that the global downturn has seriously affected the proposed acquisition of a 49.99% interest in Lukoil’s subsidiary Arkhangelskoe Geologdobychnoye Predpriyate (AGD. Full story...Young-Davidson upgrade
NORTHGATE Minerals Corp has compiled an updated resource estimate for its Young-Davidson gold deposit in the Abitibi greenstone belt of Ontario. Full story...Ivanhoe boosted by Oyu Tolgoi deadline, discoveries
IVANHOE Mines Ltd reported this week that the Mongolian parliament has set a deadline of February 1, 2009, for a draft investment agreement for Ivanhoe and Rio Tinto’s major Oyu Tolgoi copper-gold project to be negotiated. Full story...Gabriel denied Rosia Montana permit
THE Romanian Supreme Court has annulled an archaeological permit for Gabriel Resources Ltd’s Rosia Montana gold project. Full story...Atlas completes first shipment to China
ATLAS Iron Ltd is the first junior mining company in Western Australia’s Pilbara to complete a shipment of iron ore to Chinese customers, the company announced this week. Full story...Major copper mines on stream
EQUINOX Minerals Ltd has produced the first concentrate from its Lumwana copper project in Zambia, and Codelco officially inaugurated its Gabriela Mistral (or Gaby) mine in Chile. Full story...Pebble resource exceeds 5,000Mt
NORTHERN Dynasty Minerals Ltd has released a new resource estimate for the Pebble copper-gold-molybdenum project in Alaska, a 50:50 joint venture with Anglo American plc. Full story...Marubeni joins Khan in Dornod project
JAPAN’S Marubeni Corp has signed a letter of intent (LoI) with Khan Resources Inc regarding exploration and mining of the Dornod uranium project in Mongolia. Full story...Finance
Chinese whispers about struggling OZ Minerals
OZ Minerals Ltd Full story...
Rio Tinto in cost-cutting drive
RIO Tinto revealed on Wednesday it would axe 14,000 jobs, cut capital spending by more than half and sell “significant assets” to preserve cash and stave off slowing demand for raw materials amid the global recession. Full story...Hochschild to fund Mexican mine development
HOCHSCHILD Mining plc has invested US$5 million in Mexican explorer Gold Resource Corp (GRC), taking a 5% stake. GRC will use the proceeds to fund development of its flagship property, El Aguila. Full story...Gilbertson ensures Platmin survival with investment
SOUTH African platinum company Platmin Ltd has signed an agreement with Pallinghurst Resources and the Bakgatla-Ba-Kgafela Tribe that will inject US$175 million into Platmin, rescuing the Pilanesberg project. Full story...China opens opportunities for individual investors in Hong Kong
THE Hong Kong stock exchange (HKEx) may soon get a trading boost as Chinese authorities consider allowing individual investors to trade on the exchange. Full story...Perilya’s bank balance buoyed by proposal
AUSTRALIAN zinc producer Perilya Ltd has been thrown a cash lifeline from China’s Shenzhen Zhongjin Lingnan Nonfemet Co Ltd (Shenzen Zhongjin), which could take a majority stake in the company. Full story...Chief criticises HudBay performance and prospects
CHIEF executive of HudBay Minerals Inc Allen Palmiere reportedly criticised his own company’s assets, while promoting the logic behind a merger proposal with Lundin Mining Corp. Full story...Fresnillo relegated, Randgold rises on FTSE 100
FRESNILLO plc, the world’s largest silver producer, has fallen from the FTSE 100, to be replaced by rising gold producer Randgold Resources Inc, the first gold company to enter the FTSE 100 in 19 years. Full story...DRC cuts tax to counter slump
THE government of the Democratic Republic of the Congo (DRC) has announced that it will cut taxes for mining companies, and finally conclude its mining contract review. Full story...Fifth Column
A different approach
You would have thought that Bob Buchan had more than enough to keep himself occupied and entertained without taking on the challenging role of being one of only two independent directors on the board of OJSC Polyus Gold, Russia’s biggest gold company. Full story...Focus
Mongolia lures back miners
Mongolia’s mining sector has experienced unprecedented growth in the past few years; however, changes to the mining law caused a slowdown in 2007 – a situation the government is seeking to reverse Full story...Kazakhstan remains calm and confident
Kazakhstan has a long tradition of mining and metals production based on its rich geology. The country is home to some of the world’s largest resources of copper, zinc, iron ore, titanium, chrome, silver, uranium and gold. Full story...Site Search
Log inIssue: 12/12/08
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
We need you in Australia or Canada
Mining Journal is looking to employ a full-time member of staff in British Columbia
SEARCH FOR NEWS BY COMPANY
Recently Created or Updated Company News Portals
READ IN-DEPTH REPORTS
SPECIAL FEATURES
RESOURCE NEWS