22/01/10
BHPB and Arcelor Mittal may combine west African iron-ore assets
BHP Billiton and Arcelor Mittal are investigating an amalgamation of their iron-ore assets in Guinea and Liberia into a single joint venture Full story...Cyclone Magda threatens iron-ore mine
Tropical cyclone Magda has caused the evacuation of Mount Gibson Iron Ltd’s Koolan Island mine in the far northwest of Western Australia Full story...Africa’s risky investments
Somalia, the Democratic Republic of the Congo and Zimbabwe are countries that carry extreme risks for businesses, according to a report issued this week by corporate risk intelligence firm Maplecroft Full story...African Minerals raises funds
African Minerals Ltd says it has conditionally raised £80 million (US$130 million) through institutional investors in North America and in the UK to finance the construction of key infrastructure for phase one of its Tonkili iron-ore project, in Sierra Leone. Full story...Canplats nearly secured
The bid by Goldcorp Inc for Canplats Resources Corp has received approval from the latter’s board of directors ahead of a shareholders meeting at the end of January Full story...South African platinum sit-in
A SIT-in by 54 workers at the Two Rivers platinum mine in South Africa began on January 19, and the workers were still underground at the time Mining Journal went press. Full story...
Production and Markets
BHPB and Arcelor Mittal may combine west African iron-ore assets
BHP Billiton and Arcelor Mittal are investigating an amalgamation of their iron-ore assets in Guinea and Liberia into a single joint venture Full story...
Cyclone Magda threatens iron-ore mine
Tropical cyclone Magda has caused the evacuation of Mount Gibson Iron Ltd’s Koolan Island mine in the far northwest of Western Australia Full story...BHPB hits iron-ore records and plans coal expansion
BHP Billiton has reported another record in quarterly iron-ore production, with an 11% increase in the three months to end-December Full story...Residents seek long-term damages from Inco
Vale SA’s Canadian unit, Inco Ltd, has denied liability in a class-action lawsuit over alleged pollution of land near a former-nickel refinery in Port Colborne, Ontario Full story...First Uranium environmental authorisation withdrawn
First Uranium Corp has said an environmental authorisation (EA) for a tailings storage facility at its Mine Waste Solutions (MWS) tailings recovery project has been withdrawn by the authorities Full story...Hochschild’s record year
Hochschild Mining plc has increased its production by 8% and achieved its forecast of 28Moz of silver equivalent for the year ended December 31 Full story...South African platinum sit-in
A SIT-in by 54 workers at the Two Rivers platinum mine in South Africa began on January 19, and the workers were still underground at the time Mining Journal went press. Full story...Exploration & Development
Baja's Boleo could be revived
A review of Baja Mining Corp’s 70%-owned Boleo copper-cobalt project in Baja Californa Sur, Mexico, has confirmed that the project could be developed economically Full story...
Toyota Tsusho moves to secure lithium through Orocobre
Toyota Tsusho, a major trading company, owned 21.8% by Toyota Motor Corp, has agreed to back development of Orocobre Ltd’s Salar de Olaroz lithium brine project in Argentina, targeting lithium products to be used in vehicle batteries Full story...Initial 1.4Moz Golden Saddle resource
Underworld Resources Inc has received the first resource estimate for the Golden Saddle zone at its White Gold property in Canada’s Yukon Territory Full story...Donner results
Exploration drilling by Donner Metals Ltd has returned a wide zone of base-metals mineralisation down-dip of the McLeod zone at the Bracemac-McLeod project, part of the Matagami project in Quebec Full story...Antofagasta buys into Nokomis
Duluth Metals Ltd will get backing from Antofagasta plc for its Nokomis polymetallic project in Minnesota, with funding for exploration and feasibility work in return for up to a 65% interest Full story...Fortune's NICO heads for longer life
An independent reserve estimate for Fortune Minerals Ltd’s polymetallic NICO project in Canada’s Northwest Territories would support a longer mine life at a higher throughput, according to Fortune Full story...Koodaideri discovery
Iron Ore Holdings Ltd has found a zone of iron-ore mineralisation at its Koodaideri South property in Western Australia’s Pilbara region Full story...Black Thor resource
Freewest Resources Canada Inc has received an independent resource estimate for the Black Thor chromite deposit, part of its McFaulds Lake property in Ontario Full story...Esaase step-out
Keegan Resources Inc has completed a step-out drilling programme at its Esaase gold property in southwest Ghana, returning mineralised intercepts at up to 1km from the known resource Full story...Cold and Lost assays
Halo Resources Ltd reports that drilling at the Cold and Lost volcanogenic massive-sulphide joint venture in Manitoba has intersected mineralisation within 10m of predictions Full story...Price rises help Kihabe potential
Mount Burgess Mining NL has been informed by its engineering consultant, ProMet, that a number of positive developments, including commodity prices that have more than doubled since May last year, mean the Kihabe lead-zinc project in Botswana was likely to be “economically attractive” under current conditions Full story...Goliath intercepts
Diamond-drilling at Treasury Metals Inc’s Goliath gold property in Ontario has confirmed the continuation of gold mineralisation west of the Main zone at the Thunder Lake gold deposit, estimated to contain 1Moz of gold in indicated (130,000oz) and inferred (920,000oz) resources using a cut-off grade of 2.0g/t Au Full story...Ecuador mining firm plans US$30 million on exploration
Ecuador’s newly-created state-controlled mining company plans to spend an initial US$30 million on exploration Full story...Sino Vanadium pursues Daquan after scoping potential
A scoping study has encouraged Sino Vanadium Inc to pursue a prefeasibility study for development of its Daquan vanadium project in Shaanxi Province, China Full story...Mt Cattlin raised for Galaxy
Galaxy Resources Ltd has received an updated resource estimate for its Mt Cattlin lithium-tantalum project in Western Australia, which could extend the life of a planned operation by a year to 16 years Full story...Phoenix expands
Further drilling at the Wheeler uranium property in Saskatchewan's Athabasca Basin has intersected additional high-grade mineralisation at the Phoenix prospect, according to joint-venture partner Denison Mines Corp (60% interest). Full story...Cerro Negro find
Andean Resources Ltd has discovered a new zone, named Mariana Norte, at its Cerro Negro gold-silver property in southern Argentina Full story...Wa intercepts
Azumah Resources Ltd has intersected new zones of gold mineralisation at its Wa gold property in Ghana Full story...Chaarat Main assays
Chaarat Gold Holdings Ltd said its drilling programme last year extended the strike length of the Main zone at the Chaarat project in Kyrgyzstan from 600m to 680m Full story...BHPB spend
BHP Billiton spent US$239 million in minerals exploration during the six months to the end of December 31, 2009 Full story...Finance
Stellar Diamonds listing and fundraising nears end
The proposed reverse takeover by Stellar Diamonds plc of West African Diamonds plc is set for completion by February 18, when the new company will start trading on London’s AIM bourse Full story...
Nuinsco and Gold Hawk join forces
Nuinsco Resources Ltd and Gold Hawk Resources Inc have signed a binding letter of agreement to merge the companies Full story...Africa’s risky investments
Somalia, the Democratic Republic of the Congo and Zimbabwe are countries that carry extreme risks for businesses, according to a report issued this week by corporate risk intelligence firm Maplecroft Full story...African Minerals raises funds
African Minerals Ltd says it has conditionally raised £80 million (US$130 million) through institutional investors in North America and in the UK to finance the construction of key infrastructure for phase one of its Tonkili iron-ore project, in Sierra Leone. Full story...Canplats nearly secured
The bid by Goldcorp Inc for Canplats Resources Corp has received approval from the latter’s board of directors ahead of a shareholders meeting at the end of January Full story...Alrosa considering fund-raising options
Alrosa Co Ltd, Russia’s largest diamond company, has said it is contemplating raising funds on capital markets, and also through its mining subsidiaries Full story...African Copper loan
African Copper plc, owner of the Mowana mine in Botswana, is replacing its existing bridging loan with a four-year facility of US$31.13 million Full story...Tiomin to acquire Vaaldiam
Tiomin Resources Inc is to acquire Vaaldiam Resources Ltd in an all-share transaction Full story...African Minerals raises funds
African Minerals Ltd says it has conditionally raised £80 million (US$130 million) through institutional investors in North America and in the UK to finance the construction of key infrastructure for phase one of its Tonkili iron-ore project, in Sierra Leone Full story...Donner Metals raising
Donner Metals Ltd plans to raise C$5.14 million (US$4.94 million) through two placements Full story...Anglo Platinum earnings fall
Anglo Platinum Ltd, the world’s largest platinum producer, said it expects its basic earnings for the full year to end-December to have fallen by 75-85% below the R60.11/share (US$7.27) reported in 2008 Full story...Oz to maintain ties with IMX
Oz Minerals Ltd will spend A$3.7 million (US$3.4 million) to maintain its 13% stake in magnetite-copper-gold developer IMX Resources Ltd Full story...CBH and Toho sign Broken Hill zinc deal
Zinc-lead producer CBH Resources Ltd has signed a A$67.5 million (US$61.2 million) joint-venture deal with Japanese firm Toho Zinc Co Ltd Full story...Fifth Column
Farming out
Graham Birch pauses for just a moment when I ask him to name the worst investment he ever made. Full story...Reports
London - shift in focus
Investors in Europe have begun to raise their head above the parapet Full story...People and Appointments
Wits professor retires
After nearly 25 years as head of the Department of Mining Engineering at the University of the Witwatersrand, Professor Huw Phillips retired at the end of 2009 to focus on teaching and research Full story...Norton MD steps down
Jon Parker has resigned as managing director of Norton Gold Fields Ltd after “a difference in opinion at board level” Full story...New director at African Aura
African Aura Mining Inc has appointed Boris Granovsky as a non-executive director Full story...Board changes at Paramount
Paramount Gold and Silver Corp has elected Robert Dinning as its new chairman, and Christopher Reynolds as head of the company’s audit committee (replacing Mr Dinning in that role) Full story...New Caza CEO
Caza Gold Corp has appointed Greg Myers as CEO, and Jim Robinson as its vice president of exploration Full story...Medusa chairman steps down
Kevin Tomlinson has resigned from Medusa Mining Ltd “to attend to increased work commitments” Full story...Lihir CEO steps down
Chief executive Arthur Hood has resigned from Lihir Gold Ltd, and the company’s chief financial officer, Phil Baker, has been appointed as interim CEO Full story...Change at Silver Standard
Robert Quartermain has resigned as president and chief executive officer of Vancouver-based Silver Standard Resources Inc. Mr Quartermain said: “The directors and I have agreed that it would be an appropriate time for me to step down as an executive”. Full story...Site Search
Log inIssue: 22/01/10
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