16/10/2009
Xstrata abandons Anglo merger, commits to US$700m expansion
Xstrata plc has decided against pursuing an immediate merger with Anglo American plc, and will focus instead on organic growth for the near future. Full story...Rio and BHP scrap joint sales agreement
Rio Tinto and BHP Billiton have scrapped their agreement to sell 15% of production through proposed Pilbara joint venture Full story...Novagold sued by shareholders
Novagold Resources Inc is facing legal proceedings in Canada over allegations that the company knowingly misled investors that its Galore Creek gold project was on schedule and on budget Full story...
Production and Markets
Mwana restarts Zimbabwe mine
Mwana Africa plc has poured the first gold doré after refurbishment of its Freda Rebecca mine in Zimbabwe Full story...
Rio and BHP scrap joint sales agreement
Rio Tinto and BHP Billiton have scrapped their agreement to sell 15% of production through proposed Pilbara joint venture Full story...Spence strike
Workers at BHP Billiton’s Spence mine in Chile begun a strike this week, saying that the mining company has failed to meet contract demands Full story...Workers return
DRDGold Ltd has announced that 3,900 employees have returned to work after a three-week strike over wages Full story...UK government criticises Vedanta community engagement
The UK government has joined non-governmental organisations in criticising the community relations practices of Vedanta Resources plc at its proposed bauxite operation in Orissa, India Full story...Eskom to scrap commodity-linked legacy tariffs
South Africa’s power utility Eskom has confirmed its plans to renegotiate commodity-linked electricity tariffs with mining companies Full story...Vale signs US$5.6bn investment agreement
Vale SA has signed an investment agreement with the state of Minas Gerais in Brazil to expand its production in the region at a total cost of R$9.5 billion (US$5.6 billion) Full story...Fatality at Harmony’s Bambanani mine
Harmony Gold Mining Co Ltd said an employee has died following a fall of ground at the Bambanani mine Full story...Guinea goes for China funding
Guinea’s military Junta has agreed a huge mining-for-infrastructure deal with China reminiscent of the deal the latter struck with the Democratic Republic of the Congo last year Full story...Exploration & Development
Update raises Mt Milligan reserve
Terrane Metals Corp's Mt Milligan copper-gold project in British Columbia (BC) contains 6Moz of gold in reserves, 31% more than previously calculated, according to an estimate produced as part of an update to the 2008 feasibility study Full story...
Platinum Australia moves Kalplats to feasibility
Platinum Australia Ltd has begun a feasibility study for development of the joint-venture Kalahari Platinum (Kalplats) project in South Africa following a positive prefeasibility. Full story...Livengood resource estimate at 12Moz
International Tower Hill Mines Ltd reports that an independent resource estimate for the Money Knob deposit at its Livengood gold property in Alaska outlines 12Moz of gold within indicated and inferred categories, at a 0.5g/t Au cut-off grade, compared with the previous 7.5Moz delineated in June this year. Full story...Western Bushveld uprated
An update of the feasibility study for development of Project 1 of the Western Bushveld platinum group metals (PGM) joint venture in South Africa has estimated a 10% higher output of PGM and 13% lower capital costs, according to Platinum Group Metals Ltd, the 74%-owner of the project Full story...Discovery refines Boseto plan
An update to the ongoing feasibility study for Discovery Metals Ltd’s Boseto copper project in Botswana has incorporated a recent resource estimate, a switch to owner-operated mining and the addition of a new ball mill. Full story...Mbalam study sent to government
Sundance Resources Ltd has submitted a feasibility study for development of its Mbalam iron-ore project in Cameroon to the country's government. Full story...Riversdale unveils second Moatize deposit
Riversdale Mining Ltd has completed an in-house resource estimate for a second large-scale coal deposit in the Moatize area of Mozambique Full story...Mt Lindsay find
Venture Minerals Ltd has discovered a “substantial” tungsten-mineralised zone at its flagship Mt Lindsay tin-tungsten deposit in Tasmania Full story...More from Pallas Green
Minco plc, continuing its drilling programme at the joint-venture Pallas Green base-metals property in Ireland, reported extra results from holes testing extensions to the Tobermalug deposit Full story...Chirundu licence
The Zambian government has approved a mining licence for the Chirundu uranium joint venture, reported 70%-owner African Energy Resources Ltd Full story...East Hill intercepts
The latest results from drilling at the joint-venture Yandan gold property have confirmed continuity of gold mineralisation within the East Hill discovery, according to Drummond Gold Ltd. Full story...Zone 3 confirmed
Extract Resource Ltd has confirmed the discovery of a new zone of uranium mineralisation at its Rossing South property in Namibia. Full story...Dynasty Fe assays
Dynasty Metals Australia Ltd has received the final assay results from the first stage of drilling at its Prairie Downs property, testing for Marra Mamba-type iron-ore mineralisation Full story...Burnstone resource rises
Overall resources at Great Basin Gold Corp's Burnstone gold project in Mpumalanga, South Africa contain 16.4Moz, according to the latest independent estimate. Full story...New Sabina zone
Sabina Silver Corp has discovered a new zone of volcanogenic massive sulphide mineralisation at its Wishbone property, 15km from its Hackett River deposits in Canada’s Nunavut Territory Full story...Laverty dyke assays
Mega Precious Metals Inc (MPM) has received the first assays from diamond drilling of the Dyke zone at the Laverty gold property in the Red Lake area of Ontario Full story...Novagold sued by shareholders
Novagold Resources Inc is facing legal proceedings in Canada over allegations that the company knowingly misled investors that its Galore Creek gold project was on schedule and on budget Full story...Hardrock results
Premier Gold Mines Ltd has intersected gold mineralisation in several zones during drilling at its Hardrock historical gold mine in northwestern Ontario Full story...Kilgore intercepts
Otis Gold Corp has intersected wide intervals of gold mineralisation while drilling the Kilgore gold property in Idaho, reported owner Bayswater Uranium Corp Full story...Finance
Xstrata abandons Anglo merger, commits to US$700m expansion
Xstrata plc has decided against pursuing an immediate merger with Anglo American plc, and will focus instead on organic growth for the near future. Full story...
Xstrata sells El Morro stake to Barrick
Xstrata plc has sold its 70% stake in the El Morro copper-gold project to Barrick Gold Corp for US$465 million in cash Full story...Sentula agrees to sell Koornfontein for US$93m
Sentula Mining Ltd, the South African coal company and contract miner, has accepted a conditional offer for its near-half share in the Koornfontein mine for R686 million (US$93 million) in cash Full story...IGC asset sale
International Goldfields Ltd has signed a formal asset sale agreement with Nkwe Platinum Ltd Full story...Rio doubles Ivanhoe stake
Rio Tinto has raised its stake in Ivanhoe Mines Ltd from 9.9% to 19.7% by exercising its option under an agreement signed in October 2006 Full story...Cliffs to exercise right on Wabush iron ore
Cliffs Natural Resources Inc plans to exercise its right of first refusal on the remaining 73.2% stake in Wabush Mines Full story...DiamondCorp deal off
DiamondCorp plc said potential acquisition talks have closed without a result, but that it had been able to use existing cash resources to cover an interest payment due this week Full story...Allied support
Allied Gold Ltd said it has received support from a major shareholder in Australian Solomons Gold Ltd (ASG) for its friendly takeover bid Full story...Randgold approved
Shareholders of Moto Goldmines Ltd this week approved a resolution regarding a business combination with Randgold Resources Ltd Full story...Angel loan
Angel Mining plc (formerly Angus & Ross) has secured a new loan for its two mines in Greenland; Nalunaq (gold) and Black Angel (zinc-lead) Full story...Yanzhou resubmits Felix bid
China's Yanzhou Coal Mining Co Ltd is continuing its bid for Australian coal producer Felix Resources Ltd, and has resubmitted the offer to Australia’s Foreign Investment Review Board (FIRB) Full story...Petropavlovsk signs China funding deal
Petropavlovsk plc (formerly known as Peter Hambro Mining) has secured an opportunity to boost its non-gold assets in Russia after signing a funding and off-take pact with China’s Xuan Yuan Industrial Development Co Ltd (XYI) Full story...Fortescue funds itself as Chinese deal fails
Fortescue Metals Group Ltd has decided to self-fund the expansion of its Pilbara operations to double output to 90Mt/y after a funding deal with Chinese financiers fell through Full story...Galaxy raises A$65 million
Galaxy Resources Ltd has successfully completed an institutional capital raising of A$65 million (US$60 million) Full story...Continental assets come to market
Cronus Resources Ltd has agreed to a reverse takeover by Continental Gold Ltd, a Colombian gold explorer Full story...Aurora takes East Rand as court closes Pamodzi chapter
A final liquidation order has been granted against South African miner Pamodzi Gold Ltd in the North Gauteng High Court in Pretoria. The company listed in Johannesburg several years ago, aiming to grow production aggressively, through organic growth and acquisitions Full story...Polaris agrees new Mineral Resources bid
The board of Polaris Metals NL has approved the improved offer from Mineral Resources Ltd, following an attempt by Malaysia’s Lion Group to trump the deal a week earlier Full story...Monopoly rules
Winning is all about having the correct strategy Full story...Conquest funds
Conquest Mining Ltd plans to raise A$65 million (US$60 million) partly to fund development of its Silver Hill silver-gold project in Queensland Full story...Pan American to own Navidad under Aquiline merger proposal
Pan American Silver Corp has made a C$626 million (US$607 million) friendly bid for Aquiline Resources Inc, to gain control of the large Navidad project in Argentina and boost its silver resource base to 945Moz Full story...Fifth Column
Inco diaspora
According to Tom Griffis, many of the former executives of Inco Ltd who left the group after it was taken over by Vale are keen to build another substantial Canadian nickel company Full story...Reports
Mongolia heads for take off
As approval for Oyu Tolgoi, the world’s largest copper-gold development, is finally signed, Mongolia anticipates a mining boom Full story...
Polish coal powers Europe
Poland is one of europe’s top nations for minerals output, with coal at the forefront, and is an important producer of copper and silver Full story...Fund Fundamentals: Setting sail
Mining Journal presents the 17th in a series of interviews with investors in the resource sector Full story...People and Appointments
Wallington appointed MD at Firestone Energy
John Wallington, former head of coal at Anglo American plc, has been appointed managing director of Firestone Energy Ltd Full story...Watson to leave Platmin
Platmin Ltd has announced the retirement of its chief executive, Ian Watson, effective at year-end Full story...Management reshuffle at SouthGobi
Alexander Molyneux, current president of SouthGobi Energy Resources Ltd, has also taken on the role of chief executive Full story...New executive for Austral
Austral Gold Ltd has announced the appointment of Stabro Kasaneva, the current COO, as a director of the company Full story...Linear appoints COO
Linear Gold Corp has announced the appointment of Mike Sylvestre as chief operating officer Full story...Reading leaves European Goldfields
David Reading, chief executive of European Goldfields Ltd, is leaving the company after six years in charge Full story...Rovig moves to chairman role at Greystar
David B Rovig will retire as president and chief executive of Greystar Resources Ltd and take on chairmanship Full story...First Iridium jewellery revealed
American Elements, a Los Angeles-based rare-metals manufacturer, says it has patented and begun production of the first-ever pure iridium jewellery Full story...Site Search
Log inIssue: 16/10/2009
PROFESSIONAL PLACEMENTS
Geologists- Senior and Junior Positions
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Mining and Metals Opportunities - Hatch
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Minerals Geoscientist Vacancy - Neftex
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