17/07/09
Politicians weigh in on Rio’s bribery accusation
The case of a Rio Tinto executive with Australian citizenship who has been detained in China on bribery allegations, has escalated into a global political affair with world leaders intervening in the affair Full story...Metals and equity boost
WITH the US dollar weakening and encouraging economic news from China (not least news of burgeoning cash stockpiles), metals prices and mining equities have generally strengthened. Full story...Freeport spooked by Grasberg shootings
Freeport McMoRan Copper & Gold Inc has warned employees at its Grasberg mine in Indonesia to stay at home after almost a week of violence on the road leading to the mine Full story...
Production and Markets
Eastplats cuts contract after hostage situation
Eastern Platinum Ltd has cancelled an agreement with contractors after contractor employees took seven managers hostage during a sit-in at its Crocodile River mine on July 10 Full story...
Hochschild on track for 28Moz
HOCHSCHILD Mining plc said it was on track to produce 28Moz of silver equivalent in 2009, following a 19% year-on-year increase in production for the June quarter. Full story...Metals and equity boost
WITH the US dollar weakening and encouraging economic news from China (not least news of burgeoning cash stockpiles), metals prices and mining equities have generally strengthened. Full story...Freeport spooked by Grasberg shootings
Freeport McMoRan Copper & Gold Inc has warned employees at its Grasberg mine in Indonesia to stay at home after almost a week of violence on the road leading to the mine Full story...Fortescue swells production
EMERGING Australian iron-ore producer Fortescue Metals Group Ltd exceeded its full-year production forecast with a 36% jump in production in the June quarter. Full story...Gem’s sales drop
Gem Diamonds Ltd has reported a drop in sales of almost 50% in the first half of 2009, a result of weakness in the rough diamond price at the start of the year Full story...Chinese miners survive underground ordeal
Three miners, trapped underground for 25 days in Chinese coal mine, miraculously survived by licking moisture from the walls and chewing coal Full story...Botswana: Winter sun
BOTSWANA has enjoyed a memorable week. Last Friday, the southern African country was ranked a creditable 18th out of the 71 jurisdictions ranked by the Fraser Institute in its annual survey of mining-investment climates. Full story...Iron-ore spot price hits record high
The iron-ore spot price has risen to its highest level this year the Steel Index has revealed Full story...ERA boosts Ranger output
ENERGY Resources Australia Ltd, a subsidiary of Rio Tinto, has boosted uranium production at its Ranger mine by 44% in the June quarter compared with the same quarter last year. Full story...AngloGold resumes Guinea exports
ANGLOGOLD Ashanti Ltd has resumed exports from its Siguiri gold mine in Guinea following progress in discussions with the West African country’s government. Full story...Sudbury strike
Vale SA has confirmed that a strike has commenced at its Sudbury operations this week Full story...Russian threat
ArcelorMittal, the world’s largest steelmaker, is considering selling its Anzherskaya coal mine in eastern Russia Full story...South African unions reject wage offer
South Africa’s National Union of Mineworkers (NUM) has warned that strike action is imminent after reaching a deadlock in wage negotiations with the Chamber of Mines Full story...Exploration & Development
Costs rise at Polymetal’s Albazino project
Pre-production capital costs have risen 9% at JSC Polymetal’s Albazino gold project in eastern Russia, a review of the feasibility study has shown Full story...
Benga mine development considered by Riversdale and steelmaking partner
Riversdale Mining Ltd has determined the Benga coal project in Mozambique would cost US$410 million to develop, and has forwarded the results of a feasibility study to the project’s 35% partner Tata Steel Ltd Full story...Peñasquito progress
Goldcorp Inc has announced that it has achieved mechanical completion at its Peñasquito project in Mexico Full story...Romarco results
Romarco Minerals Inc has reported recent drilling results from its Haile Mine gold project in the US Full story...Rattlesnake Hills gold
Evolving Gold Corp has provided an update on the definition drilling at its Rattlesnake Hills gold project in Wyoming Full story...Joaquin drilling
Mirasol Resources Ltd has released drilling results from the second phase drilling programme at its Joaquin silver project in southern Argentina Full story...Porcupine results
Helio Resources Corp has announced the first drilling results from the 2009 programme at the Porcupine target at its SMP project in Tanzania Full story...Pigibo RC drilling
Reverse circulation drilling at Allied Gold Ltd’s Pigibo gold prospect on Simberi Island, Papua New Guinea has continued testing the area of the previously published inferred resource of 2.1Mt at 1.1g/t gold for 74,000oz Full story...Kalplats upgrade
Platinum Australia Ltd (PAL) has increased the high-grade resource at its Orion and Crux deposits on the Kalahari Platinum (Kalplats) project in South Africa by 13% and 8%, respectively. Full story...CoAL plans Vele development
Coal of Africa Ltd (CoAL) plans to take full ownership of the Vele coking-coal project in South Africa’s Limpopo province through a scrip deal to acquire the remaining 26% stake owned by Limpopo Coal Full story...Sukari boost
Centamin Egypt Ltd has announced a 6% increase in gold contained in measured and indicated mineral resources at its Sukari gold mine in Egypt Full story...Caval Ridge delay
Good, and bad, news for BHP Billiton’s proposed A$4 billion (US$3.1 billion) Caval Ridge coking-coal project in Queensland. Full story...Bucko Lake assays
Crowflight Minerals Inc reported further assay results from its phase 2 drilling programme on the 1,000-foot underground level Full story...Four Mile uranium gets environmental nod
Australia’s environment minister Peter Garrett has approved development of the Four Mile uranium project in South Australia Full story...Tujuh Bukit attracts Vale’s interest
Vale SA will spend a minimum of S$40 million to acquire a 60% stake in the Tujuh-Bukit copper-gold project from Intrepid Mines Ltd Full story...Southern Gold results
Gold mineralisation has been intercepted by Southern Gold Ltd in the company’s first reverse circulation drilling program on its gold projects in northeast Cambodia Full story...Finance
Politicians weigh in on Rio’s bribery accusation
The case of a Rio Tinto executive with Australian citizenship who has been detained in China on bribery allegations, has escalated into a global political affair with world leaders intervening in the affair Full story...
Bidding war erupts for Moto
Randgold Resources Ltd may gain control of the coveted 22.5Moz Moto gold project in the Democratic Republic of the Congo, with a US$244 million takeover bid for Moto Gold Mines Ltd Full story...Cauldron stake
Cape Lambert Iron Ore Ltd will become the major shareholder of junior uranium explorer Cauldron Energy Ltd Full story...Jubilee raising
Jubilee Platinum plc has applied to have 1.775 million new shares admitted for trading on the Johannesburg Stock Exchange Full story...Anglo Platinum suffers on rand prices.
Anglo Platinum Ltd, the world’s largest producer o the metals, said earnings per share (EPS) fell 65-75% lower for the first half of the year, compared with results from 2008 Full story...Vedanta subsidiary raising US$1.5bln
VEDANTA Resources plc subsidiary Sterlite Industries will issue new American depositary receipts (ADRs) to raise US$1.5 billion. Full story...Dwyka/Minerva marriage approved
The merger between Dwyka Resources Ltd and Minerva Resources plc will eventuate, after the Dwyka board declared the offer unconditional Full story...Mulga Rock funding
Energy and Minerals Australia Ltd has secured commitments for a placement to deliver A$9.16 million (US$7.35 million) from institutional and sophisticated investors Full story...Dioro rejection
Takeover target Dioro NL has told shareholders to reject Avoca Resources Ltd’s upgraded takeover bid and has confirmed it is in talks with other parties over a possible rival offer. Full story...Finn Nickel bankruptcy
Belvedere Resources Ltd has announced that its Finnish subsidiary Finn Nickel OY has entered voluntary bankruptcy proceedings Full story...Mechel refinancing
Russian steelmaker OAO Mechel has agreed to refinance US$2.6 billion of credit facilities for coal acquisitions it made in 2007 Full story...Nevsun secures finances
Nevsun Resources Ltd has secured debt facilities totalling US$235 million for its Bisha gold project in Eritrea, East Africa Full story...Fifth Column
On guard
THE unexpected announcement that Sir John Parker is to take over as chairman of Anglo American plc on August 1 has put a stop – but perhaps only temporarily – to the whispering campaign against Cynthia Carroll, the chief executive whom some of the group’s so-called ‘South African old guard’ apparently would like to see ousted. Full story...Reports
Asia's zinc domination
Since 1998, Asia has been the centre of global production of zinc ore and consumption of zinc metal. With China’s insatiable appetite for raw materials, there is no stopping this trend Full story...Fund Fundamentals: View from Down Under
Mining Journal presents the 13th in a series of interviews with professional investors in the resource sector Full story...Kosovo ready to roll
Kosovo hosts some of the world’s largest lead, zinc and silver deposits, and the government is ramping up a tendering process to encourage exploration Full story...Steady Spain holds on during downturn
Spain has some exciting new projects under way – and most mines are managing to hold on following the commodities downturn Full story...People and Appointments
Toledo shareholder appointment
Toledo Mining Corp plc has appointed Jason Ann Minn Cheng as a non-executive director Full story...Kodiak president
Brian Maher has been appointed president and chief operating officer of Kodiak Exploration Ltd Full story...Anglo American chairman
Sir John Parker is the new chairman of Anglo American plc, succeeding Sir Mark Moody-Stuart Full story...Van Dieman departures
Van Dieman Mines plc said non-executive directors Bill Wise and Harry Stacpoole have resigned to pursue other business interests Full story...Bralorne recruitment
Entrepreneur and consultant Brandon Munday has joined the board of Bralorne Gold Mines Ltd Full story...Zincore board changes
Zincore Metals Inc has made changes to its board of directors Full story...Excellon movements
Excellon Resources Inc has appointed Andre Douchane as president and chief executive officer Full story...Barrick departures
Alex Davidson, executive vice-president, exploration and corporate development, has decided to retire from Barrick Gold Corp, which he joined in 1993. Full story...Maximus MD
Former senior Newmont Mining Corp executive Simon Booth has been appointed managing director of Maximus Resources Ltd Full story...Site Search
Log inIssue: 17/07/09
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