17/04/09
Investors demand answers at Rio Tinto AGM
Outgoing Rio Tinto chairman Paul Skinner faced tough questions about the company’s desperate need for capital and admitted the acquisition of Alcan, which led to the financial quagmire, was poorly timed. Full story...Anglo stands by decisions at AGM
Anglo American plc faced down disgruntled shareholders and Alaskans at its annual general meeting in London this week as chairman Sir Mark Moody-Stuart and chief executive Cynthia Carroll battled a series of questions about dividends and the proposed Pebble project. Full story...Lion Selection wants Indophil board to be held accountable
Mining investment firm Lion Selection Ltd has raised serious questions about the motives and actions of directors of Philippines-focused explorer Indophil Resources NL. Full story...Guinea considers legal action against Rusal
Guinea’s new military government said it is considering legal action against UC Rusal over its contract for the Friguia bauxite and alumina complex. Full story...Maoist guerrillas attack Indian mine
Indian security forces clashed with Maoist guerrillas attempting to steal from the explosives store at a National Aluminium Co (Nalco) bauxite mine in Orissa. Full story...
Production and Markets
Xstrata suspends more operations on market downturn
Xstrata plc will delay the development of the underground mine at its Sinclair nickel mine in Western Australia and will put the property on care-and-maintenance in August when the open-pit operation closes, the company has announced. Full story...
De Beers restarts Botswana mines
De Beers is so confident that it has begun to see a recovery in the diamond market that it has reopened three of its mines in Botswana, just 50 days after it suspended production in response to declining demand. Full story...Lihir cuts back at Ballarat
Lihir Gold Ltd is set to streamline its Ballarat gold mine in Victoria following disappointing results from mining the central and southern zones. Full story...Ontario diamond facility
Ontario is to build the province’s first diamond cutting and polishing facility in Greater Sudbury. Full story...Codelco gets the wind up
Codelco said more than 110 companies are in the bidding process that started on March 30 to provide 20-40MW of wind-powered electricity to the Chilean state-owned copper producer’s Gaby mine. Full story...Drummond lay-offs
Drummond Coal Co, the US-based coal producer, has laid off 80% of its port employees in Colombia following a strike by workers at Colombian railroad service company Fenoco that began on March 25. Full story...Guinea considers legal action against Rusal
Guinea’s new military government said it is considering legal action against UC Rusal over its contract for the Friguia bauxite and alumina complex. Full story...Maoist guerrillas attack Indian mine
Indian security forces clashed with Maoist guerrillas attempting to steal from the explosives store at a National Aluminium Co (Nalco) bauxite mine in Orissa. Full story...Timah sees less tin
PT Timah Tbk, the world’s biggest integrated tin mining company, said it would produce 45,000-48,000t of refined tin in 2009, against 49,029t in 2008. Full story...Cliffs cuts coal output
Cliffs Natural Resources Inc has cut production at its metallurgical coal mines in the US, following a decline in demand for the product from the steel industry. Full story...Facing an industrial revolution
Phil Halliday talks to Harry Adams, founder and managing director of EMED Mining. Full story...Copper output increases in DRC
Anvil Mining Ltd has recommenced operation of the heavy media separation (HMS) processing plant and shut down the electric-arc furnace (EAF) at its Kinsevere copper mine in the Democratic Republic of the Congo. Full story...Fresnillo silver production up 9%
Fresnillo plc, the world’s largest primary silver producer, reported a production increase of 9% in the first three months of the year. Full story...A market view
Letter to the editor: a market view Full story...Exploration & Development
Regis gives Duketon go ahead
The board of directors of Regis Resources Ltd, the subject of a shareholder revolt, has approved the development of the company’s flagship Duketon gold project in Western Australia. Full story...
Cerro Casale costs rocket
The major Cerro Casale gold-copper-silver project in Chile’s Region III may cost US$4 billion, compared with previous estimates of US$2 billion. Full story...Aquiline's Navidad gets even bigger
Resources at the large-scale Navidad silver project in Argentina’s Chubut Province have increased to contain more than 630Moz of silver and 1.3Mt of lead in measured and indicated categories, according to owner Aquiline Resources Inc. Full story...Marampa tests
Cape Lambert Iron Ore Ltd reports that metallurgical testing of tailings at the Marampa iron-ore project in Sierra Leone has returned “positive” results. Full story...Dargues intercepts
The first holes in Cortona Resources Ltd’s current reverse-circulation drilling programme at the Dargues Reef gold property in New South Wales has returned “positive” results, according to the company. Full story...Roughrider results
Hathor Exploration Ltd completed more than 30,000m of diamond drilling during the winter season at the Roughrider zone of its Midwest Northeast uranium property in northern Saskatchewan. Full story...Yamana updates Pilar resource
Drilling during 2008 at Yamana Gold Inc’s Pilar gold project in Brazil’s Goias state has allowed the company to raise inferred resources by 50%. Full story...Hislop intercepts
A diamond-drilling programme at St Andrew Goldfields Ltd’s Hislop former gold mine property near Timmins, Ontario has targeted an envelope of gold mineralisation at a lower grade than that formerly mined. Full story...Marillana resource update
Infill drilling at Brockman Resources Ltd’s Marillana iron-ore project in mid-west Western Australia has generated a 74% increase in the indicated resource category for the deposit, though an overall reduction from 1,600Mt to 1,400Mt was also calculated. Full story...Atikwa assays
Opawica Explorations Inc has received results from initial holes at its Atikwa Lake copper-gold property in Ontario. Full story...Cerro Negro assays
A continuing drilling programme at Andean Resources Ltd’s Cerro Negro gold-silver project in southern Argentina has discovered a new mineralised vein at Bajo Negro (denoted BRC), as well as confirming the mineralisation at Eureka West (EDD). Full story...Pan American helps Orko at La Preciosa
Pan American Silver Corp will pay for development of Orko Silver Corp’s La Preciosa, a silver project in Durango, Mexico, in return for a 55% interest in the asset. Full story...Centamin raises Sukari reserves
Reserves for Centamin Egypt Ltd’s Sukari gold mine project in Egypt’s eastern desert have risen by 72%, according to an independent estimate, and contains 6.4Moz of gold. Full story...Adamus raises reserves above 1Moz
Proven and probable reserves are estimated to contain more than 1Moz of gold at Adamus Resources Ltd’s Southern Ashanti gold project in Ghana. Full story...Thor Lake assays
Results from holes testing Avalon Rare Metals Inc's Thor Lake Rare Earth property in Canada's Northwest Territories have extended the strike length of the Lake Zone by more than 100m, according to the company. Full story...Gurvanbulag notice
Western Prospector Group Ltd has received a notice from Mongolia’s mineral resources authority that the company’s licences for the Gurvanbulag uranium project have been suspended for three months. Full story...New Gold scopes Amapari CIL option
A different approach to processing at New Gold Inc’s Amapari gold project in northern Brazil could breathe new life into the mine, which is on care-and-maintenance. Full story...Ridley potential 'confirmed' by study
Further work is justified on development of Atlas Iron Ltd’s Ridley iron-ore project in Western Australia’s Pilbara region, according to the results of a prefeasibility study. Full story...Black Diamond coal
Westcore Energy Ltd reports that the vendors of the Black Diamond property on the border of Manitoba and Saskatchewan have discovered a new zone of coal. Full story...Oromin intercepts
A step-out and infill drilling programme at the Sabodala gold project in Senegal held by Oromin Explorations Ltd has returned results from the Kerekounda gold deposit, focus of a feasibility study in progress. Full story...Finance
Investors demand answers at Rio Tinto AGM
Outgoing Rio Tinto chairman Paul Skinner faced tough questions about the company’s desperate need for capital and admitted the acquisition of Alcan, which led to the financial quagmire, was poorly timed. Full story...
Anglo stands by decisions at AGM
Anglo American plc faced down disgruntled shareholders and Alaskans at its annual general meeting in London this week as chairman Sir Mark Moody-Stuart and chief executive Cynthia Carroll battled a series of questions about dividends and the proposed Pebble project. Full story...Lion Selection wants Indophil board to be held accountable
Mining investment firm Lion Selection Ltd has raised serious questions about the motives and actions of directors of Philippines-focused explorer Indophil Resources NL. Full story...Legal suit against De Beers thrown out
A legal suit for damages brought against diamond mining company De Beers by British national Gordon Brown, a former employee in Namibia, has been rejected by the UK high court of justice without a hearing. Full story...Highveld enters BEE deal
Highveld Steel and Vanadium Corp Ltd, the South African unit of Evraz Group, has transferred 26% of its equity interest in Mapochs Mine (Proprietary) Ltd to local partners. Full story...Significant interest
Toledo Mining Corp plc has had initial discussions with Daintree Resources Ltd, following the substantial recent purchase of Toledo shares. Full story...Vale dividend
Cia Vale do Rio Doce (Vale) directors have approved the payment of the first instalment of the 2009 dividend to shareholders, totalling BR$2.735 billion (US$1.25 billion), or about BR$0.52/share. Full story...Vatukoula stake sale
AIM-quoted Vatukuola Gold Mines plc said Canadian Zinc Corp had taken an 18.25% stake in the company. Full story...Double booked
Shareholders attending the Anglo American plc Annual General Meeting this week expressed their disappointment at the double booking with the Rio Tinto AGM being held on the same day, at the same time, just up the road in Westminster Full story...Mano River and African Aura propose merger
West Africa-focused Mano River Resources Inc has proposed a merger with African Aura Resources Ltd. Mano will offer 1.57 of its shares for each African Aura share. Full story...ETF record flows
Net flows into ETF Securities’ physically-backed precious metals exchange-traded commodities rose by more than 400% in the first quarter compared with the final quarter of 2008. Full story...Quadra cash
Quadra Mining Ltd said the syndicate of underwriters, led by Macquarie Capital Markets Canada Ltd, has exercised its over-allotment option for Quadra’s bought deal that was announced on March 20. Full story...Gold juniors in M&A push
Gold companies continue to show signs of vitality in a flagging resources sector, using bullion price strength to consolidate and expand production profiles. Full story...Reports
Mexico 17-04-09
There is optimism regarding the future of the mining sector in Mexico, as foreign investors warm to the country’s lack of resource nationalism – despite the spectre of drug-associated violence and the hard-hitting recession effects Full story...
LegalEase: Arbitration clauses can save you millions
This is the first report of a regular series on legal issues within the mining industry. Full story...Focus
Fund Fundamentals: Fresh funds
Mining Journal presents the tenth in a series of interviews with professional investors in resource stocks Full story...People and Appointments
AngloGold Ashanti resignations
Joseph Mensah and Reginald Bannerman have given notice of their intention to retire from the board of AngloGold Ashanti Ltd. Full story...Merger movements
Victory Nickel Inc announced that Richard Murphy has resigned from the board of directors. Full story...Australian Zircon managing director
Australian Zircon NL has appointed resources executive Johann Van Zyl to the position of managing director. Full story...Anvil names Evans as director
Anvil Mining Ltd has appointed Patrick Evans as independent director to its board. Full story...New Cameco office for Kintyre
Cameco Corp has opened an office in Perth and appointed Ron Matthews managing director of the Kintyre uranium project in Western Australia. Full story...Chairman appointed at WA Metals
West Australian Metals Ltd has named Graham Woolford as a non-executive chairman Full story...FerrAus appoints metals trader
The directors of FerrAus Ltd said Joe Singer had agreed to join the company as a non-executive director Full story...Journal Team Diary
Monkey taunts
At the Rio Tinto AGM in London this week, one shareholder asked why the directors are getting paid so much money. Full story...Site Search
Log inIssue: 17/04/09
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