18/06/2010
European Union adds to metals shortage warnings
The European Commission (EC) has sounded the alarm about a looming shortage of some critical metals. The warning comes just one month after a similar message from the US Government Accountability Office (GAO) Full story...Indophil suspends shares on reports of open-pit mining ban
Indophil Resources NL has suspended trade in its shares in Australia following reports of a potential ban on open-pit mining in the region of the Philippines where the company’s part-owned US$5 billion Tampakan copper-gold mine is being developed Full story...Half of Rio's iron-ore sales on quarterly contracts
The Rio Tinto group said close to half of its iron ore was now being sold using quarterly contracts instead of the traditional annual deals Full story...Conman pleads guilty to securities fraud
A Canadian developer has pleaded guilty to securities fraud after selling US$26 million worth of stakes in mining projects that did not exist Full story...
Production and Markets
European Union adds to metals shortage warnings
The European Commission (EC) has sounded the alarm about a looming shortage of some critical metals. The warning comes just one month after a similar message from the US Government Accountability Office (GAO) Full story...
Rusal and BHPB engage in West Africa
UC Rusal has reached a series of agreements with the government of the Republic of Guinea in West Africa Full story...Half of Rio's iron-ore sales on quarterly contracts
The Rio Tinto group said close to half of its iron ore was now being sold using quarterly contracts instead of the traditional annual deals Full story...Wattle Dam reaches milestone
Australian gold miner Ramelius Resources Ltd said it has reached a production milestone at the Wattle Dam mine in the Western Australian goldfields of 100,000oz of the precious metal. Full story...Demand returning for molybdenum
Molybdenum demand volumes are forecast to return to pre-recession levels by the middle of 2011, according to the latest Molybdenum Market Outlook report from the CPM Group Full story...Mining casualties in China and South Africa
Four miners have died and another two are still missing after a coal-mine gas outburst in central China’s Human Province, the Xinhua news agency reported Full story...Massey: Regulators increased methane risk
The US Mine Safety and Health Administration (MSHA) contributed to the sequence of events that led to 29 miners dying at the Upper Big Branch (UBB) coal mine in April, Massey Energy Co claimed this week Full story...Talvivaara production line commissioned
Dual-listed Talvivaara Mining plc said its second production line at its metal recovery plant was successfully commissioned on June 9 with zinc sulphide precipitation, followed by nickel sulphide on June 10 Full story...Exploration & Development
Grande Côte feasibility defines major mine
Mineral Deposits Ltd’s 90%-owned Grande Côte minerals sands project in Senegal could yield annual production representing 10% of world ilmenite output, and 7% of world zircon output, according to a recently-completed feasibility study Full story...
Haematite early focus for Tonkolili
African Minerals Ltd, despite having completed insufficient exploration to produce a resource for haematite mineralisation at its Tonkolili iron-ore project in Sierra Leone, said it is on schedule to begin producing 8Mt/y of haematite from the March 2011 quarter Full story...Nechalacho estimate expansion "pleasant surprise"
The scale of an upgrade of rare-earth resources at Avalon Rare Metals Inc’s Nechalacho deposit, part of its Thor Lake property in Canada’s Northwest Territories, came as a “pleasant surprise” to Don Bubar, the company’s chief executive Full story...Rio Tinto's Eagle finally set free
Construction is to begin this year at Rio Tinto’s Eagle nickel-copper project in Michigan, following final environmental approvals from the state, ending a two-year wait for the group, which noted Michigan’s nonferrous mining legislation is among the most stringent in the US Full story...Jogmec signs lithium deal
State-funded Japan Oil, Gas and Metals National Corp has signed a lithium exploration joint venture with American Lithium Minerals Inc for its properties in Nevada, US Full story...53.5ct Mothae stone
Lucara Diamond Corp has recovered a 53.5ct white-type IIA diamond in the first week of production from the Mothae kimberlite mine in Lesotho Full story...Mascota update
Ventana Gold Corp has continued infill drilling at the Main zone at La Mascota, the gold-mineralisation zone that is part of La Bodega gold property in Colombia. Full story...Snow Lake zone
Alexis Minerals Corp has intersected gold mineralisation in the Main and No3 zones at its Snow Lake project in Manitoba. Full story...New Wodgina zone
Atlas Iron Ltd has discovered a new zone of iron-ore mineralisation at its Wodgina property, 110km south of Port Hedland in Western Australia. Full story...Patagonia results
Further drilling on Patagonia Gold plc’s Tranquilo gold-silver property in San Juan, Argentina, has returned high-grade results from the Cap Oeste (CO) and COSE (CSE) prospects Full story...New Liberty zone
African Aura Mining Inc has intersected high-grade gold mineralisation during drilling at a new zone at its New Liberty mine in western Liberia Full story...Hemerdon estimate rises for Wolf
An independent resource estimate for Wolf Minerals Ltd’s Hemerdon Ball tungsten-tin project in Devon, UK, has raised contained metal by 84%, according to the company Full story...Dutwa boost from Ngasamo
The inclusion of a second lateritic nickel-cobalt deposit at African Eagle Resources plc’s Dutwa project in Tanzania has tripled the estimated overall tonnage, and doubled contained metal, according to the company Full story...Resource update at Livengood
Vancouver-based International Tower Hill Mines Ltd has announced a mineral resource update at its Livengood gold project near Fairbanks in Alaska. Full story...Creso intercepts
Creso Exploration Inc has intersected high-grade gold mineralisation during drilling at its Minto property in Ontario. Full story...More from Altar
Peregrine Metals Ltd has received further results from a recently-completed drilling programme aimed at delineating a leachable copper resource at its Altar porphyry copper deposit in San Juan, Argentina Full story...Finance
Eldorado Gold to purchase stake in Serabi Mining
Eldorado Gold Corp will buy a 26.8% share in Brazilian gold company Serabi Mining plc, owner of assets near Eldorado's Tocantinzinho project in the Tapajos region. Full story...
Indophil suspends shares on reports of open-pit mining ban
Indophil Resources NL has suspended trade in its shares in Australia following reports of a potential ban on open-pit mining in the region of the Philippines where the company’s part-owned US$5 billion Tampakan copper-gold mine is being developed Full story...Thor: Mining tax will hurt exploration companies
Despite assurances from the Australian government that the proposed Resources Super Profits Tax (RSPT) will benefit smaller companies, the chairman of Thor Mining plc, Mick Billing, has slammed the impact that it is already having on those in the exploration field Full story...Cape Lambert dividend
Cape Lambert Resources Ltd will return A$44 million (US$38 million) to shareholders by way of a special dividend following the recent sale of the Lady Annie copper project in Queensland to China Sci-Tech Holdings Ltd for A$135 million Full story...Vale and Aquila in disagreement
A dispute has arisen between Vale SA and Aquila Resources Ltd over the budget at their Eagle Downs coking-coal joint venture in Queensland Full story...Lesego deal approved
Shareholders in Village Main Reef Gold Mining Co Ltd have approved a deal for the company to take a controlling stake in Lesego Platinum Ltd valued at R411 million (US$55 million) Full story...Conman pleads guilty to securities fraud
A Canadian developer has pleaded guilty to securities fraud after selling US$26 million worth of stakes in mining projects that did not exist Full story...Big Daddy: Cliffs raises Spider offer
Cliffs Natural Resources Inc has increased its offer for Spider Resources Inc to C$109 million (US$106 million) in its push for control of the Big Daddy chromite deposit in Canada Full story...New Dawn makes acquisition
Canada’s New Dawn Mining Corp has bought an 89% interest in Central African Gold plc (CAG) from its three largest shareholders Full story...Avocet share sale
Avocet Mining plc has raised £1.48 million (US$2.2 million) after selling shares to Norwegian retail investors as part of the compliance procedures for a listing in the country Full story...Quadra FNX's China deal falls through
A memorandum of understanding (MOU) to form a joint venture between Quadra FNX Mining Ltd and a subsidiary of the State Grid Corp of China, covering copper assets in Chile, has expired and an equity purchase will be unwound Full story...Centaurus expands in Brazil
ASX-listed Centaurus Metals Ltd has purchased the Jambreiro iron-ore project in Brazil from Brazilian company Celulose Nipo-Brasileira SA (Cenibra) Full story...Financing for Coal of Africa
Coal of Africa Ltd (CoAL), which is listed on the AIM, ASX and JSE, intends to raise £55 million (US$81.5 million) through the placing of 50 million ordinary shares with institutional investors Full story...Fifth Column
Exchanges: Blind justice
Ken Gooding notes that “Justice should not only be done, but should be seen to be done.” He notes, however, that this form of so-called 'open justice' is not necessarily adhered to by the world's stock exchanges. Full story...Reports
e3 Plus: Building CSR principles into your company
PDAC’S e3 Plus principles offer explorers rationale and direction for good practices Full story...
Extending the search
As its mining has declined, Japan has focused on custom smelting and metals processing Full story...The nickel seesaw
The nickel market swung from decline to growth in 2009 spurred by rising demand from China, Europe and the US Full story...Financing a resurgence in mining
Norton Rose's Martin McCann and Daniel Metcalfe discuss a resurgence of activity in the mining sector in the first half of 2010. They note that traditional bank financing on an underwritten and syndicated basis still appears to be absent from the market, however the market has adapted and we have seen a variety of alternative products available to borrowers. Full story...Small company advantage
In the latest in Mining Journal's series of interviews with professional investors, we speak with Andy Crossley, the fund manager of Invesco Perpetual's UK Smaller Companies Growth Fund. Full story...People and Appointments
Winkelmann joins Western Coal
Western Coal Corp has appointed Neil Winkelmann as chief operating officer Full story...Silvore Fox adds new board member
Silvore Fox Minerals Corp has welcomed Andrew Smith to the company as a director, bringing the total number of board members to six Full story...Lithium appoints Karayannopoulos
Constantine Karayannopoulos has been hired to the board of directors at exploration company Lithium Americas Corp Full story...INV Metals makes board changes
INV Metals Inc, formerly International Nickel Ventures Corp, has appointed Terry MacGibbon as chairman, and Paul Conibear and Parviz Farsangi as directors Full story...Northland appoints senior staff
Northland Resources SA has assigned Bert-Ove Johansson as vice president of its Swedish operations, and Pekka Veisto as manager of operations in Finland Full story...Brockman hires Cusack
Cusack will join Brockman Resources Ltd as non-executive director Full story...Journal Team Diary
Companies back mining dog film
A group of mining companies, including Rio Tinto, are funding a low-budget film about a hitch-hiking dog that travelled throughout Western Australia’s mineral-laden Pilbara region during the 1970s Full story...Issue: 18/06/2010
PROFESSIONAL PLACEMENTS
General Manager Processing - OK Tedi Mining
Ok Tedi Mining Limited operates a world class open pit mine and copper concentrator located in the Western Province of PNG.
Chief Operating Officer - TiZir Limited
Key Leadership Role with a $600M Joint Venture Project in West Africa, competitive salary package on offer with Residential and FIFO options.
Chief Executive Officer - Tin International Ltd
Tin International Ltd. (“TIN”) is in the process of becoming an ASX listed tin development company with assets located in Germany.
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