22/05/09
End of the road for iron-ore benchmarking?
The traditional system of setting an annual price for iron ore could be nearing an end as iron-ore producers and steel manufacturers remain at loggerheads over this year’s benchmark price. Full story...Gold surges despite jewellery demand decline
Gold showed its strength in the March quarter this year, as total demand rose 38% year-on-year, a 36% rise in value terms to US$29.7 billion, according to the latest figures from the World Gold Council. Full story...Esperanza’s billion dollar boost
Antofagasta plc and its partner have secured a US$1.05 billion loan for the large Esperanza copper-gold project in Chile. Full story...Ecuador to create state mining company
Ecuador is planning to create a state mining company to take charge of the country’s mining industry following the introduction of a new mining law earlier this year. Full story...PDAC calls for federal increase to flow-through tax break
The Prospectors and Developers Association of Canada (PDAC) has called for the federal government to double the mineral exploration tax credit, or flow-through programme, from 15% to 30% for a period of two years, to help exploration companies survive the financial storm. Full story...
Production and Markets
End of the road for iron-ore benchmarking?
The traditional system of setting an annual price for iron ore could be nearing an end as iron-ore producers and steel manufacturers remain at loggerheads over this year’s benchmark price. Full story...
Platinum market to calm down in 2009
The supply and demand for platinum will be more closely aligned in 2009 than in 2008 and there will be less volatility in the price, according to Johnson Matthey. Full story...Gold dehedging stabilise after seven years
Analysts say stability in gold hedging levels is not an indication companies will increase their price protection levels in upcoming months Full story...Choco 10 has 500,000oz/y potential
A scoping study identified Rusoro Mining Ltd could expand its 95%-owned Choco 10 gold mine in Venezuela to produce more than 500,000oz/y Full story...Braemore Jubilee sign smelting agreement
Braemore Resources plc and Jubilee Platinum plc have signed a production and smelting agreement to apply Braemore’s ConRoast technology to Jubilee’s platinum group metal (PGM) concentrate from tailings Full story...In search of equipment
Phil Halliday talks to David Paxton, chief executive of Vatukoula Gold Full story...New safety tool to be commercially available
New mine safety software developed by Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) will be available around the world after a licence to commercially develop the software was awarded to Queensland-based Mining Logic Solutions Full story...CAMEC, Katanga clear DRC review
Two more mining companies have jumped the final hurdle in the Democratic Republic of the Congo’s epic mining review process Full story...Ecuador to create state mining company
Ecuador is planning to create a state mining company to take charge of the country’s mining industry following the introduction of a new mining law earlier this year. Full story...Beneficiation hold
Gem Diamonds Ltd has put development of its beneficiation facilities in Dubai and Mauritius on hold, owing to the economic downturn Full story...Peñoles lifts force majeure, concludes negotiations
Fresnillo plc, the world’s largest primary silver producer, has announced that the force majeure at its Met-Mex metallurgical complex has been lifted after two months of suspension. Full story...Xstrata stoppage
Xstrata plc has temporarily suspended operations at its George Fisher zinc mine in Mt Isa for a 24 hour period after an employee died in an accident at the mine on Tuesday Full story...Philippines landslide
A landslide resulting from several days of heavy rain in the Philippines has killed upto 28 people in a small mining village in the southern part of the country Full story...Copper price
Chile’s government has raised its copper price estimate for 2009 by 9.4% after stronger than expected Chinese demand Full story...Exploration & Development
Oxus amends Amantaytau sulphide plan
A revised plan for a sulphide deposit at Oxus Gold plc’s 50%-owned Amantaytau gold mine in Uzbekistan is both technically and economically feasible, according to an amended study. Full story...
Heron left alone at KNP
Cia Vale do Rio Doce (Vale) has decided not to continue with development studies for Heron Resources Ltd’s Kalgoorlie Nickel Project in Western Australia, and will not exercise its option to earn up to a 60% interest. Full story...Woggaginna results
Warwick Resources Ltd has intersected high-grade iron mineralisation during the second phase of reverse-circulation drilling at its Woggaginna property near Newman in Western Australia's Pilbara region. Full story...Barlee intercepts
Beacon Minerals Ltd has intersected mineralisation with initial reverse-circulation drilling at its Barlee gold property in Western Australia, according to the company. Full story...Bajo Negro assays
Further drilling at Andean Resources Ltd's Cerro Negro gold-silver property in southern Argentina has intersected more mineralisation at the Bajo Negro prospect, confirming discovery of a new high-grade vein. Full story...Western Cluster bids
The Liberian government has received four bids for the US$1.6 billion Western Cluster iron-ore project, comprising the Bomi Hills, Manor Rivre and Bea Mountain deposits. Full story...Jacinth approval
The South Australian government has given Iluka Resources Ltd final approval to develop its Jacinth-Ambrosia zircon project in the far west of the state, in the Eucla Basin. Full story...Pallas Green hit
A high-grade zinc-lead intersection at the Pallas Green joint venture in Ireland between Minco plc and Xstrata plc has extended the strike length of the Northwest Extension of the Tobermalug deposit to 1km, according to Minco's chief executive, Terence McKillen. Full story...Mariners potential
A high-grade nickel intersection could indicate a new discovery at the Mariners nickel mine in Kambalda, Westen Australia, according to owner Mincor Resources NL. Full story...New Oromin zone
Oromin Explorations Ltd reports the discovery of a new zone of gold mineralisation near the Kerekounda deposit at its Sabodala project in eastern Senegal. Full story...Glencore backs SouthGobi's Mamahak
Ivanhoe Mines Ltd’s 80%-owned subsidiary, SouthGobi Energy Resources Ltd, has signed a marketing agreement with Glencore International AG for production from its 85%-owned Mamahak coking-coal project in East Kalimantan, Indonesia. Full story...Atlas discovery
Initial results from reverse-circulation drilling have confirmed the discovery of additional iron mineralisation at Atlas Iron Ltd's Mt Webber iron-ore property in Western Australia's Pilbara region. Full story...Diamond prices force Kono suspension
Joint-venture partners Petra Diamonds plc (51%) and Stellar Diamonds Ltd (a 59.6%-owned subsidiary of Mano River Resources Inc – 49%) have agreed to place the Kono diamond project in Sierra Leone on care-and-maintenance. Full story...Esperanza’s billion dollar boost
Antofagasta plc and its partner have secured a US$1.05 billion loan for the large Esperanza copper-gold project in Chile. Full story...Sandfire discovery
Sandfire Resources NL has discovered a new zone of high-grade copper-gold mineralisation at its Degrussa prospect, part of its Doolgunna project in Western Australia. Full story...Thunder Bay link
Magma Metals Ltd has confirmed the connection between zones at its Thunder Bay platinum group metals (PGM) property in Ontario, after drilling results intersected high-grade mineralisation in the so-called Bridge zone between the Current Lake and Beaver Lake zones. Full story...Ramu resumes
Highlands Pacific Ltd reports that construction of the Ramu lateritic nickel – cobalt project in Papua New Guinea has resumed, following an incident during which fighting broke out between local and Chinese workers. Full story...Tijirit intercepts
Initial reverse-circulation drilling completed at Shield Mining Ltd's Tijirit gold property in Mauritania has confirmed sampling and trenching results, according to the company. Full story...Churchill raises resource 100%
An overall resource at Churchill Mining plc's 75%-owned East Kutai coal deposit in Kalimantan, Indonesia contains more than 3,000Mt, according to the company. Full story...Western Copper resource for Prominent Hill
A new resource estimate for a satellite deposit at Oz Minerals Ltd's Prominent Hill copper-gold mine in South Australia has outlined 245,000t of copper, representing a 32% increase over the previous calculation. Full story...Orvana commits to Don Mario development
Orvana Minerals Corp will develop the outcropping Upper Mineralised zone (UMZ) at its Don Mario gold mine in Bolivia, which currently exploits the Lower Mineralised zone. Full story...Trevali gets Santander backing from Glencore
Trader Glencore International AG has agreed to help Trevali Resources Corp develop its Santander silver-lead-zinc project in Peru, under the terms of a memorandum of understanding between the companies. Full story...Sulphide boost raises Simberi resource
A new resource estimate for the Pigiput deposit at Allied Gold Ltd’s Simberi gold operation in Papua New Guinea has increased overall contained gold by 45% to 4.7Moz. Full story...Tonkolili grows to over 5Gt
African Minerals Ltd has received an updated resource estimate for its Tonkolili magnetite iron-ore deposit in Sierra Leone from SRK Consulting, raising overall resources to 5,100Mt, compared with the initial estimate of 4,700Mt. Full story...Finance
Gold surges despite jewellery demand decline
Gold showed its strength in the March quarter this year, as total demand rose 38% year-on-year, a 36% rise in value terms to US$29.7 billion, according to the latest figures from the World Gold Council. Full story...
Gold producer looks to Australian bourse
AIM-listed Norseman Gold plc, owner of Australia’s longest continually-running gold operation, is planning to list on the ASX Full story...World Bank as fund manager
The International Finance Corp (IFC) has established a subsidiary which, for the first time, will serve as a fund manager of third-party capital. Full story...PDAC calls for federal increase to flow-through tax break
The Prospectors and Developers Association of Canada (PDAC) has called for the federal government to double the mineral exploration tax credit, or flow-through programme, from 15% to 30% for a period of two years, to help exploration companies survive the financial storm. Full story...Avocet offer
Avocet Mining plc this week formally launched its offer for Wega Mining ASA Full story...Gryphon investment
Gryphon Minerals Ltd has signed a letter of intent with the International Finance Corp (IFC) whereby the IFC will acquire 10 million Gryphon shares for an investment of A$2 million (US$1.54 million) Full story...Anglogold offering
AngloGold Ashanti Ltd has announced the pricing of an offering of US$650 million 3.5% convertible bonds due 2014 Full story...Fifth Column
Speed mining
Only three years and ten months after drilling its first hole into the Sabodala deposit, Mineral Deposits Ltd (MDL) poured its first gold bar. Full story...Reports
How Russia is riding the economic storm
Mineral-rich Russia has already survived and thrived during times of economic crisis. Alexander Yakubchuk describes the state of affairs Full story...
Chile stands firm in wake of commodity crash
Good financial management will see Chile somewhat buffered from the global commodity crisis, with copper output expected to drop only slightly this year. Production is ramping up at some mines, with exploration still alive in several regions Full story...People and Appointments
Mines and Money Asia returns to Hong Kong
The second annual Mines and Money Asia conference takes place in Hong Kong at the Four Seasons Hotel from June 2-5, 2009. Full story...Mystery not solved
One mystery of the mining industry is how to pronounce the name Johnson Matthey. Full story...Communications expert for Commerce Resources
Sven Olsson has joined the board of Commerce Resources Corp Full story...Riverstone board appointment
Riverstone Resources Inc appointed Ron Cooper to its board of directors Full story...Richmont vice-chairman
Gregory Chamandy has been appointed vice-chairman of the board of Richmont Mines Inc Full story...Part-time Volta CFO
Volta Resources Inc has named Alan Rootenberg as chief financial officer and corporate secretary, on a part-time basis Full story...Australian Zircon key appointments
Australian Zircon NL has made two appointments with finance executive Giga Bedineishvili joining the board as a non-executive director and Richard Fagan as general manager of operations Full story...Site Search
Log inIssue: 22/05/09
PROFESSIONAL PLACEMENTS
Geologists- Senior and Junior Positions
Gryphon Minerals is aggressively growing its world class Banfora Gold Project in Burkina Faso, West Africa.
Mining and Metals Opportunities - Hatch
Mining and Metals Opportunities in London and Globally: Senior and junior roles.
Minerals Geoscientist Vacancy - Neftex
Do you want to help develop the world’s most detailed commercially-available 4D Earth Model to support the mining majors?
Opportunities for Senior & Principal Level Consultants - SRK
Professionals needed for central Moscow office.
Senior Hydrogeologist - Schlumberger
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Mining Journal is looking to employ a full-time member of staff in British Columbia
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