14/05/2010
Vedanta buys Anglo’s zinc
Iindia's Vedanta Resources plc has agreed to purchase Anglo American’s zinc business for US$1.34 billion in cash. The assets were put up for sale late last year. Full story...Death toll rises to 66 at Siberian mine
The confirmed death toll from explosions at a Siberian coal mine in the Kemerovo province has reached 66 people, with 24 miners still missing underground Full story...Henry backs his Australian resources tax
Amid a continuing backlash from mining companies, Australian Treasury Secretary Ken Henry has defended the government’s proposed Resources Super Profit Tax (RSPT), saying it will boost the mining industry and economy Full story...Oyu Tolgoi study confirms world class
The Oyu Tolgoi copper-gold project in Mongolia is capable of supporting an average annual output of 544,000t of copper and 650,000oz of gold during the first ten years, according to an independent study completed by a group of leading consultants led by AMEC Minproc Full story...Zimbabwe: African Consolidated executive arrested
The ongoing dispute over the Marange diamond fields in Zimbabwe took another turn recently when an executive of African Consolidated Resources plc (ACR) was arrested Full story...Glencore secures US$10.2bn credit facility
Glencore International AG said it has signed a US$10.2 billion revolving credit facility with 76 banks Full story...
Production and Markets
Death toll rises to 66 at Siberian mine
The confirmed death toll from explosions at a Siberian coal mine in the Kemerovo province has reached 66 people, with 24 miners still missing underground Full story...
SA gold producers report weaker quarter, improvement expected
South Africa’s three major gold producers reported results this week, with output from all three companies’ lower and costs up, in a seasonally weak quarter Full story...Rio Tinto to expand iron ore in Canada
Rio Tinto plc said it will resume expansion of its Iron Ore Company of Canada (IOC) unit, with an investment of more than US$400 million Full story...Hyundai Steel reaches out to Korea Resources
Korean steelmaker Hyundai Steel Co said it is pursuing mining projects with state-run Korea Resources Corp to secure raw material supplies as costs increase. Full story...Zimbabwe: African Consolidated executive arrested
The ongoing dispute over the Marange diamond fields in Zimbabwe took another turn recently when an executive of African Consolidated Resources plc (ACR) was arrested Full story...CGA sets new record
Dual-listed CGA Mining Ltd said it has set a record throughput at its Masbate gold project in the Philippines Full story...Q1 for Uranium One
Kazakh miner Uranium One Inc produced 1.8Mlb of uranium in the first three months of this year, an increase of 147% from the same period last year and 49% higher than the immediately preceding quarter Full story...Exploration & Development
Randgold moves on with Gounkoto
Randgold Resources Ltd has begun a feasibility study for development of its 80%-owned Gounkoto gold project in Mali, following a positive prefeasibility Full story...
Scope for Fox's Sholl
A positive preliminary economic evaluation of the Sholl B2 nickel-copper deposit in Western Australia has been delivered by Snowden Mining Consultants. Development of the property, wholly-owned by Fox Resources Ltd, was deferred in mid-2008 because of low metals prices and strong Australian dollar. Full story...High-grade San Luis viable
Silver Standard found that the small, high-grade deposit could support a 3.5-year underground operation producing 400t/d of ore for 78,000oz of gold and 1.86Moz of silver Full story...Canahuire proves major find
Gold Fields Ltd and Cia de Minas de Buenaventura have confirmed the Canahuire gold-copper-silver discovery at the Chucapaca joint venture as a major deposit, containing about 5.1Moz of gold, 75,300t of copper and 22Moz of silver Full story...Red Chris resource rises
Imperial Metals Corp has increased the resource estimate for its Red Chris copper-gold deposit in British Columbia after including data from recent drilling into its calculations. Full story...Gem's Gope grows
An independent resource estimate for Gem Diamonds Ltd’s Gope kimberlite diamond deposit in Botswana has raised tonnage, grade and carat value Full story...Oyu Tolgoi study confirms world class
The Oyu Tolgoi copper-gold project in Mongolia is capable of supporting an average annual output of 544,000t of copper and 650,000oz of gold during the first ten years, according to an independent study completed by a group of leading consultants led by AMEC Minproc Full story...Los Pumas estimate
Southern Hemisphere Mining Ltd has received a resource estimate for its Los Pumas manganese deposit from consultant Coffey Mining Full story...Wild Cattle Creek results
Anchor Resources Ltd has intersected the widest zone of antimony mineralisation so far at its Wild Cattle Creek property in New South Wales Full story...Hannukainen scope for Northland
A positive preliminary economic assessment has been delivered by Watts, Griffis and McOuat Ltd for the Hannukainen iron oxide-copper-gold (IOCG) project in northern Finland Full story...Perseus assays
Drilling below the South Botiksi Extension pit at Perseus Mining Ltd’s Central Ashanti gold project in Ghana has returned “relatively” high grades, according to the company Full story...Ciresata intercepts
Initial results from a deep-drilling programme at Carpathian Gold Inc’s Rovina copper-gold porphyry project in Romania have extended mineralisation 300m below previous drilling at the Ciresata deposit Full story...Syama reopening
Resolute Mining Ltd has reopened the Syama gold mine in Mali, holding an official ceremony attended by the president of the country, His Excellency Amadou Toumani Toure Full story...Ngasamo intercepts
African Eagle Resources plc continues to intersect lateritic nickel mineralisation at its Ngasamo Hill discovery, part of its Dutwa property in Tanzania Full story...New Prominent find
Drilling below known resources at Oz Minerals Ltd’s Prominent Hill copper-gold mine in South Australia has intersected a new zone of mineralisation Full story...Jaguar refines Gurupi prefeasibility study
The prefeasibility study for development of Jaguar Mining Inc’s Gurupi gold project in Brazil has outlined a US$224.6 million mine producing 154,000oz/y, but the company is revising the outcome to reduce pre-production capital costs Full story...Tulu Kapi resource doubles
Nyota Minerals Ltd has reported that an independent resource estimate for its Tulu Kapi gold deposit in Ethiopia put the amount of gold contained at 1.38Moz, compared with 690,000oz for the previous calculation Full story...Continental re-emerges in Tibet
After a two-year hiatus, Continental Minerals Corp is resurrecting its Xietongmen copper-gold project in China’s Tibet Autonomous Region, 200km west of Lhasa Full story...Lucknow scandium results
Metallica Minerals Ltd has discovered scandium mineralisation near a former nickel mine on its Nornico nickel-cobalt project in north Queensland Full story...Finance
Vedanta buys Anglo’s zinc
Iindia's Vedanta Resources plc has agreed to purchase Anglo American’s zinc business for US$1.34 billion in cash. The assets were put up for sale late last year. Full story...
Henry backs his Australian resources tax
Amid a continuing backlash from mining companies, Australian Treasury Secretary Ken Henry has defended the government’s proposed Resources Super Profit Tax (RSPT), saying it will boost the mining industry and economy Full story...Petropavlovsk's iron resolve
London-based Petropavlovsk plc (previously Peter Hambro Mining) is widely reported to have decided to spin off its iron-ore division. However, Jay Hambro, who as Petropavlovsk's chief investment officer is head of the group's iron ore, and other non-core assets, told Mining Journal that a decision had not yet been taken. Full story...Costs blowout at Sino Iron
China’s CITIC Pacific Mining Ltd has said it is “clearly unhappy” at the prospect of paying a further US$835 million for its Sino Iron project in the Pilbara region of Western Australia Full story...PwC: M&A on the way back
Professional services firm PricewaterhouseCoopers (PwC) believes the global metals industry is becoming more “conducive” to merger and acquisition (M&A) deals, but warns that it has “not yet fully recovered” from the global economic downturn Full story...Eldorado to buy Brazauro
Canada’s Eldorado Gold Corp will strengthen its asset base in Brazil after agreeing to buy Brazauro Resources Corp for about C$122.4 million (US$120.4 million) Full story...DMC Resources takeover battle continues
Cape Lambert Resources Ltd has again increased its takeover offer for DMC Resources Ltd following a rival bid for the West African iron-ore explorer and developer from China’s Meijin Energy Group Full story...Chromex buys Waylox
Chromex Mining plc has purchased Waylox Mining Ltd for US$1.15 million in cash and shares Full story...Finsch job cuts
South African labour union Solidarity said it has been notified by De Beers that a process of potentially retrenching 40% of the 870 employees at the Finsch diamond mine has begun Full story...Anooraq restructures
Anooraq Resources Corp said it has completed a labour restructuring programme at its Bokoni platinum mine (formerly Lebowa) in South Africa Full story...DRC rejects Zijin takeover bid
China’s Zijin Mining Group Co said a proposed takeover of Platmin Congo will “probably” be approved by the Democratic Republic of Congo Full story...Bendigo branches into West Africa
ASX-listed Bendigo Mining Ltd will form a strategic alliance with AIM-listed Goldstone Resources Ltd after announcing it would purchase 20% of the company’s share capital Full story...Glencore secures US$10.2bn credit facility
Glencore International AG said it has signed a US$10.2 billion revolving credit facility with 76 banks Full story...Chinese buy TNG project
ASX-listed TNG Ltd, formerly known as Tennant Creek Gold, has agreed to sell its Manbarrum zinc-lead-silver project to Chinese company Teng Fei Mining. Full story...Castle to make placement
Castle Resources Inc said it will raise up to C$9 million (US$8.8 million) through a brokered private placement led by Byron Capital Markets. Full story...Shanduka takes control of Lonmin BEE partner
Cyril Ramaphosa’s Shanduka Group has taken control of Incwala Resources (Pty) Ltd, Lonmin plc’s empowerment partner, in a US$373 million cash and debt deal Full story...Fifth Column
Mexican nightmare
Ken Gooding recounts a tale that involves murder, alleged intimidation, extortion, corruption and mining in Mexico. It all adds up to a nightmare for Blackfire Exploration Ltd. Full story...Reports
Lagging supply and robust demand
Sizable Chinese investments into overseas molybdenum projects might be revealing new supply trends in the rather opaque Chinese molybdenum market Full story...Anglo American at home
After the group recently reorganised its operational subsidiaries, Mining Journal reports on some of its most prominent South African mines to see the effects Full story...Executive survey: Safety first
Not surprisingly, safety remains the highest priority for the chief executives of mining companies Full story...Regaining its lustre
Mexico can count on its mining industry to shine as the country’s economy begins to recover Full story...People and Appointments
DTCB assigns Gabaak
The De Beers subsidiary, Diamond Trading Company Botswana (DTCB) has appointed Gabaake Gabaake as chairman Full story...First Uranium assigns new board
Peter Surgery has been appointed as chairman of the board at First Uranium Corp Full story...SRK opens new office
Congolese mining engineer Susa Maleba will head SRK Consulting’s new Lubumbashi office Full story...Sheridan steps into president role
Goldstone Resources Inc has appointed Patrick Sheridan, currently chief executive officer of the company, to the additional position of president Full story...McCulloch joins DiamondCorp
DiamondCorp plc has strengthened its management with the appointment of Keith McCulloch as general manager of the Lace mine in South Africa Full story...Anglo Canadian appoints Brewer
Kevin Brewer has joined Anglo Canadian Uranium Corp as a director Full story...Spanish Mountain welcomes Halas
Ron Halas has been appointed by Spanish Mountain Gold Ltd as chief operating officer Full story...Journal Team Diary
Gold found in Cornwall
Gold has been found in the UK at Western United Mines Ltd’s South Crofty mine in Cornwall. Full story...Site Search
Log inIssue: 14/05/2010
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