15/05/09
North American coal producers plan US$2bln merger
Alpha Natural Resources Inc and Foundation Coal Holdings Inc (FCL) have planned a US$2 billion all-stock merger to become the third-largest US coal producer Full story...Grace acquitted of asbestos charges
Chemicals company WR Grace &Co and three of its executives have been cleared of all criminal charges by a federal jury in the US, in what has been called one of the most significant criminal environmental cases in the country’s history Full story...Aus government injects A$2 billion into clean coal
The Australian government has pledged to invest A$2 billion to develop industrial-scale carbon capture and storage projects, as part of a A$4.5 billion investment in the development of clean technology and infrastructure to reduce carbon emission Full story...China to restructure and revitalise base metals industry
China’s state committee revelled this week a three year plan to consolidate the country’s base metals industry and restrict new aluminium projects, to cope with the international financial crisis and speed up industry restructuring. Full story...Fancy diamond lifts blues with record breaking price
The latest gem to be sold from the historic Cullinan diamond mine, a fancy vivid blue weighing 7.03ct, has reached a record breaking price at auction, strengthening the reputation of the mine and putting a smile on the face of owners Petra Diamonds Ltd in an otherwise depressed diamond market Full story...
Production and Markets
Vale tops Goldman investment list
Cia Vale do Rio Doce (Vale) was the only mining company to be featured in Goldman Sachs recent list of ten companies to invest in for the long term Full story...
Cape Lambert to develop and sell CopperCo assets
Acquisitive exploration company Cape Lambert Iron Ore Ltd has purchased the assets of bankrupt copper producer CopperCo Ltd for A$105 million (US$80.6 million). Full story...Grace acquitted of asbestos charges
Chemicals company WR Grace &Co and three of its executives have been cleared of all criminal charges by a federal jury in the US, in what has been called one of the most significant criminal environmental cases in the country’s history Full story...Pamodzi workers strike over no wages.
A reported 4,200 workers have downed-tools at the only remaining operating mine of South Africa’s Pamodzi Gold Ltd, while management waits for a financial lifeline. Full story...Lomas Bayas workers return
Mine workers continued to strike at Xstrata plc’s Lomas Bayas copper mine in Chile this week, after rejecting the company’s final offer during pay negotiations and voting to strike on May 6 Full story...Aus government injects A$2 billion into clean coal
The Australian government has pledged to invest A$2 billion to develop industrial-scale carbon capture and storage projects, as part of a A$4.5 billion investment in the development of clean technology and infrastructure to reduce carbon emission Full story...China to restructure and revitalise base metals industry
China’s state committee revelled this week a three year plan to consolidate the country’s base metals industry and restrict new aluminium projects, to cope with the international financial crisis and speed up industry restructuring. Full story...South Africa splits mines ministry in two
South Africa’s newly-elected President Jacob Zuma has announced sweeping government reforms in his first few days in power, including splitting the former Department of Minerals and Energy into two separate departments. Full story...BHP cuts more WA nickel jobs
BHP Billiton has closed down the cash-negative Rocky’s Reward open pit at its Leinster nickel operations in Western Australia, slashing 240 jobs. Full story...Frog’s Leg resources jump above 1Moz
Dioro Exploration NL has reported that a resource update at its 49%-owned Frog’s Leg underground mine in Western Australia has taken the mine’s contained gold to over 1Moz, allowing for depletion due to mine production. Full story...Iluka delays
Iluka Resources Ltd has delayed the first production from the Murray Basin Stage 2 project by six weeks because of delays in the fabrication and delivery of structural frames required to support two thickeners which are part of the pre-concentrator plant Full story...Luanshya deal
The Zambian government has chosen Chinese company NFC Africa, a subsidiary of China Non-ferrous Metals Corp to run the Luanshya copper mine, ahead of two other bidders Full story...Explorer with cash
Phil Halliday talked to the management team at Vane Metals Group Full story...Fancy diamond lifts blues with record breaking price
The latest gem to be sold from the historic Cullinan diamond mine, a fancy vivid blue weighing 7.03ct, has reached a record breaking price at auction, strengthening the reputation of the mine and putting a smile on the face of owners Petra Diamonds Ltd in an otherwise depressed diamond market Full story...AngloGold fatality
A stope driller at AngloGold Ashanti Ltd’s Kopanang mine in South Africa has died in a in a fall of ground accident Full story...Exploration & Development
Explorator plans Espino improvement
A scoping study for development of Explorator Resources Inc's El Espino iron oxide copper-gold deposit in Chile has identified opportunities for improvement that the company planned to pursue. Full story...
Grande Côte minerals sands resource update
Minerals Deposits Ltd (MDL) has received an updated resource estimate for its Grande Côte zircon-ilmenite project in Senegal. Full story...High-grade HM
Image Resources NL reports that the high-grade (>20% heavy minerals) zone at its Atlas heavy-minerals deposit in Western Australia has been extended by recent drilling to more than 1.4km in length. Full story...Livengood results
The final results have been received by International Tower Hill Mines Ltd for the (northern) winter drilling programme at its Livengood gold property in Alaska. Full story...Ramu interruption
Highlands Pacific Ltd reported this week that work was suspended on the Ramu nickel-cobalt laterite project in Papua New Guinea, in which it holds an 8.56% interest, owing to assaults on workers and damage to equipment. Full story...Randalls power deal
Integra Mining Ltd's Randalls gold project in Western Australia wil be powered by grid electricity, after the company received confirmation that Western Power would provide up to 5.5MW of mains supply. Full story...President visits Vubachikwe
President of Zambia, Rupiah Banda visiting Duration Gold Ltd’s Vubachikwe gold mine near Gwanda, Matabeleland, Zimbabwe on May 3 Full story...Major Minto hits
Capstone Mining Corp, continuing its exploration drilling programme at the Minto North discovery at the Minto copper-gold mine in Canada's Yukon Territory, has intersected copper-gold mineralisation it described as "unprecedented in the history" of the operation, surpassing intersections during the 1970s. Full story...Riverstone, Kagara post +1Moz gold estimates
An initial estimate for Riverstone Resources Inc at its Karma gold property, and the latest estimate for Kagara Ltd’s Red Dome deposit, have both outlined contained gold of more than 1Moz. Full story...Mindoro resource confidence rises
A revised resource estimate for Oslo-listed Intex Resources Ltd’s Mindoro lateritic nickel project in the Philippines has increased the amount of material in measured and indicated categories by 64%. Full story...Igurubi partner sought
African Eagle plc's geological modelling of its 75%-owned Igurubi gold property in Tanzania has resulted in an exploration target of about 700,000oz of gold, and the company wants to sign a partner to help further investigation. Full story...Ansteel deal gets Swan backing, partners appeal EPA ruling
Australia’s Treasurer, Wayne Swan, has approved a A$162 million (US$124 million) investment by Anshan Iron and Steel Group Corp in Gindalbie Metals Ltd, its joint-venture partner in the Karara iron-ore project in Western Australia, but the partners plan to appeal against certain conditions imposed by the state’s Environmental Protection Agency. Full story...Banro celebrates school, water handover
Banro Corp's charity in the Democratic Republic of the Congo, the Banro Foundation, recently handed over two projects to the community of Luhwindja, in South Kivu, near its Twangiza gold project. Full story...Henkries intercepts
Niger Uranium Ltd has intersected further mineralisation at its Henkries uranium property in Namibia. Full story...Platinum Australia quadruples Vela
Platinum Australia Ltd has increased contained platinum group metals (PGM) within its Vela deposit by 300%, according to a resource estimated compiled by Coffey Mining. Full story...Posse scoping points to development
A scoping study for Crusader Resources Ltd's Posse iron ore project in Minas Gerais, Brazil recommended development of the deposit in two stages, according to the company. Full story...CGA reaches Masbate first pour milestone
CGA Mining Ltd has poured the first gold bar at its US$250 million Masbate gold project on Masbate island in the Philippines. Full story...Iron Valley confirmed
Iron Ore Holdings Ltd has received drilling results that it said confirmed its Iron Valley iron-ore property in the central Pilbara region of Western Australia contained a large-tonnage, Brockman-style deposit. Full story...Mystique anomaly
PacMag Metals Ltd has identified what it described as a gold soil geochemical anomaly larger than that reported for the Tropicana gold deposit (70% AngloGold Ashanti Ltd, 30% Independence Group NL) in the early stages of discovery of that deposit, estimated to contain 5Moz of gold overall. Full story...Cap-Oeste assays
Patagonia Gold plc has received additional drilling results from its programme at the Cap-Oeste prospect, part of El Tranquilo gold-silver property in Santa Cruz, Argentina. Full story...Finance
North American coal producers plan US$2bln merger
Alpha Natural Resources Inc and Foundation Coal Holdings Inc (FCL) have planned a US$2 billion all-stock merger to become the third-largest US coal producer Full story...
Lonmin sells shares to slash borrowings
Platinum producer Lonmin plc will raise US$457 million through a rights issue following a lacklustre set of six-month results. Full story...Novagold payout
Canadian-based Novagold Inc has agreed to pay a US$883,628 civil penalty to the US government to resolve violations of a storm water discharge permit at its Rock Creek mine Full story...Juanicipio claims stall Fresnillo’s MAG takeover
MAG Silver Corp has applied to the Ontario Securities Commission to compel Fresnillo plc to supply information regarding the company’s Juanicipio silver joint venture in Mexico Full story...Canada celebrates mining week with investment promise
Canada this week celebrated its national mining week, highlighting the important role the industry plays in the lives of its citizens, and promising to accelerate funding to support innovation in the sector Full story...Western Areas cash
Nickel sulphide producer Western Areas NL has raised A$35.35 million (US$26.62 million) through the placement of 7 million shares at A$5.05 each Full story...Santa Rita funding
Mirabela Nickel Ltd has placed 5 million shares to institutional investors at A$2.15 (US$1.63) each to raise A$10.75 million Full story...Zambian investment firm saves African Copper
African Copper plc (ACU) has signed a US$22.5 million financing deal with Zambia Copper Investments Ltd (ZCI), after ACU shareholder rejected a proposed debt and equity deal with Natasa Mining Ltd Full story...Pilbara spend
The Western Australian government is planning to inject A$300 million (US$228 million) into upgrading infrastructure in the Pilbara, the states mining centre Full story...HudBay/Lundin cut ties
Copper and zinc producer HudBay Minerals Inc will boost its cash through the sale of its stake in Lundin Mining Corp for C$236 million (US$202 million) Full story...First Uranium expanding tailings recovery
Toronto and Johannesburg-listed First Uranium Corp has signed a bought-deal financing agreement with a syndicate of underwriters to sell 15.12 million shares at C$7 (US$6) each for total proceeds of C$106.75 million Full story...Fifth Column
Steely ambition
Rinat Akhmetov, Ukraine’s richest man, has just completed two strategic deals. Full story...Reports
LegalEase: Bribery and corruption
In the third of our legal series, Memery Crystal discusses how to not get caught up in a scandal in the murky world of bribery and corruption Full story...
Steel’s demise slices molybdenum supply
With several moly mines placed on care-and-maintenance since the start of the commodities bust, and even more projects now on hold, there is concern about future supply if the market picks up next year. China may end up saving moly prices in 2009, with demand still strong in the Asian nation Full story...People and Appointments
Zambia president visits mine
President of Zambia, Rupiah Banda, visiting Duration Gold Ltd’s Vubachikwe gold mine near Gwanda, Matabeleland, Zimbabwe on May 3. Full story...Turning on the heat
This month will see the publication of the latest book from Ian Plimer. Called Heaven and Earth global warming: the missing science, the book offers evidence that our fear of global warming derives from politics and dogma rather than scientific proof Full story...To the rescue
The University of Nevada, Reno Fire Science Academy is to host the fifth annual Western Region Underground Mine Rescue Competition on June 5-6 in Carlin, Nevada Full story...Sinosteel Midwest operations manager
Sinosteel Midwest has bolstered its regional team with the appointment of Phil Allsopp as operations manager. Full story...Stirling appoints DECOmetal director
Stirling Resources Ltd has appointed DCM DECOmetal managing director Rohtraut Skatsche-Depisch to the board as a non-executive director Full story...Advisory CEO
Asian energy and minerals sector advisory firm AWR Lloyd, has appointed Hal Kaiser as its first chief executive officer Full story...Anglo American technical director
Anglo American plc has appointed David Weston as technical director Full story...Kodiak president retires
Kodiak Exploration Ltd reported that Bill Chornobay has stepped down as president, chief operating officer and a director of the company Full story...Randgold retirements
Randgold Resources Ltd announced the retirement of two senior directors: Aubrey Paverd and Bernard Asher Full story...Button joins Sylvania
Grant Button has been named as an executive director at Sylvania Resources Ltd Full story...Adanac appointments
Adanac Molybdenum Corp appointed Christopher Kirby to the position of president and chief executive officer Full story...Gemfields product director
Gemfields plc has appointed Adrian Banks as product director Full story...Turning on the heat
The latest book from Ian Plimer will be published this month. Full story...Journal Team Diary
Parent power
BHP Billiton is planning on attracting the best people the industry can provide, by offering standardised parental leave to all its employees Full story...Site Search
Log inIssue: 15/05/09
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