14/08/2009
Strong balance sheet creates opportunities for BHP Billiton
BHP Billiton chief executive Marius Kloppers said his company’s strong balance sheet could allow it to take advantage of opportunities in quality assets as mining competitors struggle financially. Full story...Slovakia mourns mining deaths
The government of Slovakia held a national day of mourning across the country this week to grieve the 20 miners who died in an explosion at the Handlova coal mine on Monday Full story...Yanzhou announces US$2.8bn Felix bid
Yanzhou Coal, the Chinese mainland coal producer, has made a A$3.3 billion (US$2.8 billion) cash offer for all of the shares of Australian coal producer Felix Resources Ltd. Full story...Zambia won’t refund tax payments
The Zambian government said it would not refund companies for taxes paid when a controversial windfall tax was introduced last year Full story...Freeport under fire again
Employees at Freeport McMoRan Copper & Gold Inc’s Grasberg mine in Indonesia have been targeted by gunmen for a second time in two months Full story...
Production and Markets
Slovakia mourns mining deaths
The government of Slovakia held a national day of mourning across the country this week to grieve the 20 miners who died in an explosion at the Handlova coal mine on Monday Full story...
Rio four arrested
The four Rio Tinto employees being held in China face charges that carry a jail sentence of up to seven years for unlawfully obtaining trade secrets. Full story...Fatality at Barrick prompts industry safety reform calls
A mineworker has died at a Barrick Gold Corp operation in Western Australia, prompting calls for a change in safety standards Full story...US Court stops u-turn on mountaintop mining
A US district court has stymied the government’s plans to overturn a ruling that allows coal companies to dump waste from mountaintop mines in streams and rivers Full story...Zambia won’t refund tax payments
The Zambian government said it would not refund companies for taxes paid when a controversial windfall tax was introduced last year Full story...Uranium One buys Wyoming assets
Uranium One Inc has agreed to pay US$35 million for a uranium processing plant and resources in Wyoming from a joint-venture company owned by Areva and EDF. Full story...Pangea equipment
Pangea DiamondFields plc has secured additional mining and processing equipment for the ramp up of its Cassanguidi project in Angola from New Millennium Resources Ltd Full story...Protestors block road access to mines
Sino Gold Mining Ltd has suspended operations at its White Mountain gold mine in China after protestors blocked access to the operation Full story...Tanzanite one sees profit on horizon
Tanzanite One Ltd’s chief executive Zane Swanepoel said the company could return to profitability by the end of the year as demand for the company’s coloured gemstones continues to grow Full story...Freeport under fire again
Employees at Freeport McMoRan Copper & Gold Inc’s Grasberg mine in Indonesia have been targeted by gunmen for a second time in two months Full story...Exploration & Development
Khumani expansion cost falls
An expansion of the recently-completed Khumani iron-ore mine in South Africa will cost less than previously-estimated, according to 50%-owner African Rainbow Minerals Ltd (ARM). Full story...
Nickel performance drives Forrestania expansion
The board of directors of Western Areas NL has decided to develop an open-pit mine based on the Spotted Quoll nickel deposit at its Forrestania project in Western Australia, and to double the capacity of the concentrator for the project, to take advantage of what was described as a period of strong growth in the price for nickel, and improving market conditions. Full story...Banro pays more in final ratification
Banro Corp has accepted what it called minor modifications of the agreement with the government of the Democratic Republic of the Congo concerning Banro's mining assets in the country, and the government has provided final ratification thereof. Full story...Harz searches for second Rammelsberg
Søren Lund Jensen, managing director of Scandinavian Highlands Holding A/S, plans a drilling programme this October to test the potential for a sedimentary-exhalative base-metals deposit similar to that mined by the historic Rammelsberg base-metals operation in Germany. Full story...Gold price revives Richmont's Francoeur
Richmont Mines Inc has decided to restart gold mining at its Francoeur historical mine in Quebec, having outlined reserves with an internal prefeasibility study. Full story...Carpathian looks forward to RDM revival
A scoping study for redevelopment of the Riacho dos Machados (RDM) historical open-pit gold mine in Minas Gerais, Brazil, has indicated the project could support production of more than 100,000oz/y, according to owner Carpathian Gold Inc. Full story...Mount Polley results
Exploration drilling has intersected copper-gold minrealisation in all zones tested at Imperial Metals Corp's Mount Polley operation in British Columbia. Full story...Zeta infill assays
Discovery Metals Ltd has completed an infill drilling programme for the Zeta deposit at its Boseto copper project in Botswana, reporting results consistent with expectations and previous holes. Full story...New Syndicated zone
A new high-grade copper-mineralised zone has been intersected by drilling at Syndicated Metals Ltd's Barbara property in Queensland. Full story...Rau intercepts
Drilling results at Atac Resources Ltd's Rau gold property in Canada's Yukon Territory have demonstrated continuity of mineralisation within a near-surface oxide zone, according to the company. Full story...Raub doubles capacity
Peninsular Gold Ltd will nearly double the throughput capacity at its Raub mine in Malaysia to 2Mt/y after it secured US$28 million in local financing to go ahead with the project. Full story...Mkuju River update
Mantra Resources Ltd has received infill drilling results for the Nyota prospect at its Mkuju River uranium project in Tanzania. Full story...Baobab Tete results
Diamond drilling completed so far at Baobab Resources plc's Tete iron-ore/vanadium property in Mozambique has tested 500m of a target 8km strike length. Full story...New Liberty licence
The Liberian authorities have granted a 25-year mining licence for Mano River Resources Inc's New Liberty gold project within the Bea Mineral Development Agreement. Full story...Golden Saddle potential confirmed
Further holes have intersected wide zones of gold mineralisation in Underworld Resources Inc's drilling programme targeting the Golden Saddle zone at its White gold property in Canada's Yukon territory. Full story...Brockman moves Marillana to feasibility
If port and rail access agreements are secured, Brockman Resources Ltd's Marillana iron-ore project in Western Australia's Pilbara region could support a viable operation from late 2012, according to a recent prefeasibility study. Full story...Platina continues Skaergaard studies
Platina Resources Ltd has received preliminary results from work by consultants GRD Minproc and AMC on prefeasibility studies for development of Platina's Skaergaard gold-platinum group metals project in eastern Greenland. Full story...First Pallas Green estimate
Xstrata plc has provided an initial resource estimate for the Pallas Green base-metals joint venture in Ireland to partner Minco plc. Full story...Friday-petsite results
Results from Premium Exploration Inc's first phase of drilling at its Friday-Petsite gold property in Idaho have confirmed continuity of historical mineralisation. Full story...Minto North confirmed
Infill drilling results from Capstone Mining Corp's programme at the recent Minto North discovery at its into copper mine in Canada's Yukon Territory have confirmed the presence of high-grade mineralisation, acording to the company. Full story...Diggers & Dealers wrap
It may not have been the most drunkenly raucous Diggers & Dealers mining forum on record, but this year’s event had a marked change in tone from the past few years – as well as some glorious winter weather. Full story...Finance
Rio to sell North American coal mines
Rio Tinto will offload the bulk of its remaining North American coal assets via an initial public offering (IPO), tentatively valued at US$500 million Full story...
Strong balance sheet creates opportunities for BHP Billiton
BHP Billiton chief executive Marius Kloppers said his company’s strong balance sheet could allow it to take advantage of opportunities in quality assets as mining competitors struggle financially. Full story...Yanzhou announces US$2.8bn Felix bid
Yanzhou Coal, the Chinese mainland coal producer, has made a A$3.3 billion (US$2.8 billion) cash offer for all of the shares of Australian coal producer Felix Resources Ltd. Full story...Chinese companies snap up more projects
China is once again on a buying spree, with two state-controlled companies this week making bids for overseas companies Full story...Fortescue maiden profit
Fortescue Metals Group Ltd has reported a maiden annual profit of US$508 million Full story...More Malartic funds
Osisko Mining Corp has raised a further C$130 million (US$120 million) for the 6.28Moz Malartic gold project in Quebec. The Montreal-based company completed a C$402.9 million bought-deal share and purchase warrant sale in February Full story...Outside interest on Xstrata's El Morro
Xstrata plc has been approached by potential buyers or partners for its El Morro project in Chile. Full story...Jubilee raises finance
Junior platinum explorer Jubilee Platinum plc has raised £13.25 million (US$22 million) after selling 44.17 million shares at £0.3 per share, a 23% discount to its average share price for the prior month. Full story...EMED approval
EMED Mining Public Ltd has received shareholder approval to raise £2.9 million (US$ 4.7 million) through a placing of 38 million new ordinary shares Full story...Bidders up cash in Asarco offer
Vedanta Resources plc has raised its bid for bankrupt US copper producer Asarco LLC, in an attempt to win favour over two competing bids Full story...Kinsevere financing
Anvil Mining Ltd has agreed a strategic alliance with Trafigura Beheer BV, the world’s second-largest independent non-ferrous metals trader. The agreement includes a US$200 million financing and off-take agreement for the Kinsevere copper mine in the Democratic Republic of the Congo (DRC). Full story...Andean finance
Andean American Mining Corp has announced that it has signed a debt financing deal to raise up to US$70 million Full story...Centerra safe
Cameco Corp has denied rumours that it is about to sell its 49% stake in Centerra Gold Inc Full story...Atlantic approach
Pennsylvanian coal producer Atlantic Coal plc, has confirmed it made two approaches to take over Strategic Natural Resources plc (SNR) Full story...Adamus raising
Adamus Resources Ltd completed the placement of 115 million new shares at A$0.35 (US$0.29) each to raise gross proceeds of A$40.25 million Full story...Dioro targeted
The rival suitors have stepped up their bids for Western Australian gold producer Dioro NL Full story...Anglo sell-off
Anglo American plc plans to offload its 49.5% stake in South African sugar company Tongaat Hulett Ltd through a sale of shares and convertible bonds Full story...Fifth Column
Legal implications
It’s shaping up to be a very memorable year for self-made millionaire Terry Streeter – but not in a positive way. First there was the disappointment of seeing the hostile bid made by Fox Resources Ltd – where Mr Streeter is chairman and a major shareholder – for Hannans Reward Ltd, conclusively rejected. Full story...Reports
Argentina cries out for more
Argentina has a diverse mining sector, but a 5-10% export tax is hurting some companies Full story...
Fund Fundamentals: Banking on growth
Mining Journal presents the 15th in a series of interviews with professional investors in the resource sector Full story...People and Appointments
Herald joins Atna
Christopher Herald has replaced William Coulter on the board of Atna Resources Ltd. Full story...
New COO at Thompson Creek
Thompson Creek Metals Co Inc has announced Scott Shellhaas is its new vice president and chief operating officer Full story...Wolff to advise Ambrian
Ambrian Capital plc, has appointed John Wolff as an adviser to its commodities division Full story...Avion exec joins Allana board
Rene Bharti has joined the board of Allan Resources Inc. Full story...Goldstein joins Bloomsbury
Bloombsury Minerals Economics (BME) has announced the appointment of Robert Goldstein to assist the company in its further development. Full story...Needham leaves Metorex board
Charles Needham, the former chief executive of Metorex Ltd, has stepped down from the company’s board along with alternate director, Edward Legg. Both will continue their roles as executives within the company. Full story...Journal Team Diary
Rags to riches
A village community from rural China have suddenly found themselves the centre of riots, government tax demands and a host of targeted advertising after shares in Zijin Mining Group offered to them in compensation reach more than 600 times their original value Full story...Site Search
Log inIssue: 14/08/2009
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