24/04/09
Teck Cominco secures debt reprieve
Vancouver-based Teck Cominco Ltd has been granted relief from its large debt, deferring US$4.4 billion of repayments due this year. Full story...China could lead clean coal revolution
China has the opportunity to lead the way in the development of cleaner coal technologies, the International Energy Agency said this week Full story...Guinea threatens gold companies
Guinea’s ruling military junta has caused further alarm for foreign mining companies operating in the country this week, threatening to close gold mines being operated by Crew Gold Corp and AngloGold Ashanti Ltd because of supposed environmental concerns Full story...Canadian government questions Vale shutdown
The Canadian government has this week questioned Cia Vale do Rio Doce’s (Vale) proposed eight-week suspension of its Sudbury nickel mine, saying it may consider legal action to fight any job losses Full story...DRC contract debate continues
Confusion reigns for six of the biggest mining companies operating in the Democratic Republic of the Congo as government ministers continue to make conflicting statements about the state of mining contracts Full story...
Production and Markets
China could lead clean coal revolution
China has the opportunity to lead the way in the development of cleaner coal technologies, the International Energy Agency said this week Full story...
Diamond market heads to new equilibrium
Angola’s mining minister, Makenda Ambroise, said the country’s diamond sales are finally picking up after a depressing end to 2008 and first quarter in 2009, but industry insider Chaim Even-Zohar believes the market will not stabilise until the end of the year. Full story...Gold heist
Resolute Mining Ltd had 3,500oz of gold stolen from its Golden Pride mine in Tanzania this week. Armed intruders robbed the site, taking with them more than US$3 million-worth of gold. There were no fatalities during the incident Full story...GFMS concerm over platinum fundamentals
Last year was a hugely exciting and volatile year for PGMs with prices touching both exceptional highs and pronounced lows during the 12 months, according to Peter Ryan, senior consultant of GFMS Full story...Centerra agreement
Centerra Gold Inc has confirmed that is aware of press reports in Kyrgyz Republic suggesting that the government and the company have reached a decision resolving matters and issues relating to its Kumtor gold project Full story...AngloGold fatalities
AngloGold Ashanti Ltd had two fatalities at its Moab Khotsong mine in South Africa in the past week Full story...NUM seeks hike
South Africa’s National Union of Mineworkers (NUM) asked for a 15% wage increase from gold and coal producers, and said negotiations on their pay would begin in the second week of May. Full story...Doe Run strike
Workers at The Doe Run Co’s La Oroya smelter in Peru have delayed a strike at the plant after the government agreed to meet with union leaders Full story...Strike delayed at Doe Run Peru
Workers at Doe Run Peru's sprawling La Oroya smelter have delayed a strike at the plant after the government agreed to meet with union leaders on Wednesday, union director Luis Castillo said on Tuesday Full story...Angola sees diamonds shine
Angola’s mining minister, Makenda Ambroise, said the country’s diamond sales are finally picking up after a depressing end to 2008 and first quarter in 2009, but industry insider Chaim Even-Zohar believes the market will not stabilise until the end of the year. Full story...Chatree output increases to full capacity
Kingsgate Consolidated Ltd said it has ramped up to full capacity at its Chatree and Chatree North cold mines in Thailand, having seen a three-fold increase in production in the March quarter Full story...Vale discounts iron ore
Cia Vale do Rio Doce (Vale) is selling iron ore at a discount while it negotiates commercial contracts for the upcoming year Full story...BHPB maintains iron-ore strength
Despite weakening demand, BHP Billiton has achieved record iron-ore production for the nine months to March 31, up 6% from 2008 levels. Full story...Guinea threatens gold companies
Guinea’s ruling military junta has caused further alarm for foreign mining companies operating in the country this week, threatening to close gold mines being operated by Crew Gold Corp and AngloGold Ashanti Ltd because of supposed environmental concerns Full story...Gold Reserve arbitration
Gold Reserve Inc has formally notified the Venezuelan government of a dispute with regard to the company’s Las Brisas gold project in Bolivar state. Full story...ICSG forecasts 3.8% rise in copper production
The International Copper Study Group (ICSG) has forecast a copper production surplus of at least 345,000t in 2009, as a result of a 3.8% increase in mine production to 16Mt Full story...Canadian government questions Vale shutdown
The Canadian government has this week questioned Cia Vale do Rio Doce’s (Vale) proposed eight-week suspension of its Sudbury nickel mine, saying it may consider legal action to fight any job losses Full story...Indonesian permits
Indonesia is to issue a presidential decree allowing underground mining in its protected forests, in a move that has angered environmental groups Full story...Mozambique rail
The development of the Sena railway line to transport coal across Mozambique to the port of Beira port is on track and should be completed by the end of the year Full story...Magma raising
Magma Metals Ltd is to issue 50 million shares to raise US$16 million. Full story...DRC contract debate continues
Confusion reigns for six of the biggest mining companies operating in the Democratic Republic of the Congo as government ministers continue to make conflicting statements about the state of mining contracts Full story...Exploration & Development
High grade Merlin resource
Resource estimates have been unveiled for two molybdenum-rhenium deposits, with Ivanhoe Mines Ltd's Australian subsidiary revealing what it described as the world's highest-grade Mo-Re deposit at Merlin in Queensland, and International PBX Ventures Ltd updating its Copaquire property in Chile. Full story...
Tampakan to cost more than US$5 billion
The completed prefeasibility study for development of the Tampakan copper-gold deposit in the Philippines, one of the world’s largest undeveloped resources, has estimated an initial capital cost of US$5.2 billion. Full story...Exco boosts Cloncurry resource
Exco Resources Ltd has received an updated resource estimate for its Cloncurry copper project in Queensland, raising the total to more than 51Mt at 0.84% Cu and 0.23g/t Au. Full story...Tasiast discovery
Red Back Mining Inc has discovered a new zone of mineralisation at its Tasiast gold mine in Mauritania, in the hanging wall, an area previously though to be non-gold-bearing. Full story...Nayarit intercepts
Nayarit Gold Inc, drilling the Animas/Del Norte Discovery zone at its Orion property in Nayarit state, Mexico, has intersected further gold mineralisation. Full story...Wide Railway assay
United Minerals Corp NL has intersected a wide zone of iron-ore mineralisation at its Railway property in Western Australia’s Pilbara region. Full story...Gold Reserve
Gold Reserve Inc has formally notified the Venezuelan government of a dispute with regard to the company’s Las Brisas gold project in Bolivar state Full story...Allammaq intercepts
At Canadian Royalties Inc's Nunavik nickel project in northern Quebec, drilling during 2008 intersected wide zones on nickel-copper-platinum group metals (PGM) mineralisation. Full story...Frasers Find
OceanaGold Corp has discovered a new zone of gold mineralisation below the base of the current reserve at its Frasers underground operation in the Macreas goldfield of New Zealand’s South Island Full story...Investing in Indonesia
As planned, Indonesia’s new mining law has facilitated more investment in the country from international companies. Full story...Detour Lake results
Detour Gold Corp's infill drilling at the Detour Lake gold project in northern Ontario continues to show continuity of mineralisation, according to the company. Full story...Wodgina intercepts
Atlas Iron Ltd has intersected more high-grade iron mineralisation at its Wodgina project in the Pilbara region of Western Australia. Full story...Kenmare strives for full Moma output
Kenmare Resources plc is implementing an improvement plan at its Moma minerals sands project in Mozambique, after the performance of its contractor was found wanting. Full story...Blake Wilshaw spoke to David Archer, managing director of Hillgrove Resources Ltd
Blake Wilshaw spoke to David Archer, managing director of Hillgrove Resources Ltd Full story...Tiger revises Kipoi plan
Tiger Resources Ltd has changed its development plan for the Kipoi copper project in the Democratic Republic of the Congo, in which it is earning a 60% interest, targeting a copper concentrate product during the initial three years, rather than the 'black copper' first intended. Full story...Discovery links Petra and Plutus
The latest resource estimate for the Petra deposit at Discovery Metals Ltd's Boseto copper project in Botswana has doubled the size of the zone, and connected it to the Plutus deposit. Full story...Rönnbacken update for IGE
International Gold Exploration AB’s subsidiary, IGE Nordic, has released an updated resource estimate for its Rönnbacken nickel property in northern Sweden, upgrading the initial estimate from earlier this month Full story...Gt coal estimates in Mozambique, Australia
Riversdale Mining Ltd, Central African Mining & Exploration plc (Camec) and East Energy Resources Ltd have announced coal resources of 1,000Mt or more, the first two in Mozambique, and East Energy in Australia. Full story...BHPB programme
Exploration by BHP Billiton during the nine months to the end of March 31, 2009 cost the world’s largest mining group US$514 million, compared with US$437 million during the same period in 2008 Full story...Moran assays
Independence Group NL's underground infill and extension drilling programme at the new Moran nickel deposit at the Long nickel mine in Western Australia has intersected high-grade nickel mineralisation. Full story...Matoush finds
Strateco Resources Inc has intersected two new mineralised zones at its Matoush uranium property in the Otish mountains of Quebec. Full story...Sphere's Lebtheinia update
Sphere Investments Ltd has received an updated resource estimate for its Lebtheinia iron-ore project in Mauritania from consultant Golder Associates. Full story...Perseus raises in-pit Ayanfuri ounces
Recent revisions to forecast operating costs and resource estimates at Perseus Mining Ltd’s 90%-owned Ayanfuri gold project in Ghana have allowed the company to update pit optimisations, raising the amount of gold contained within the pits to 4Moz (based on US$950/oz gold) Full story...Finance
Teck Cominco secures debt reprieve
Vancouver-based Teck Cominco Ltd has been granted relief from its large debt, deferring US$4.4 billion of repayments due this year. Full story...
Minmetals purchase of Oz assets approved with conditions
Australian Treasurer Wayne Swan has told China Minmetals Corp it can acquire most of Oz Minerals Ltd’s assets if it operates the mines with “commercial objectives” and abides by conditions aimed at protecting jobs Full story...Norilsk stake
Russian billionaire Vladimir Potanin reduced his stake in OAO Norilsk Nickel by 4.8 percentage points to 25% plus one share Full story...St Andrew funding
St Andrew Goldfields Ltd has closed a private placement of US$16.2 million of senior secured gold notes Full story...Hambro bottom line impacted by costs
London-based, Russian gold producer, Peter Hambro Mining plc (PHM), which posted a 53% increase in annual earnings, will conserve cash by not paying a final dividend. Full story...Valin closer to Fortescue investment approval
Hunan Valin Iron and Steel Group Co Ltd is closer to sealing its planned A$1.2 billion (US$845 million) investment in Pilbara iron-ore producer Fortescue Metals Group Ltd. Full story...Albidon in administration
Albidon Ltd, developing the Munali nickel project in Zamabia, has voluntarily appointed administrators. Full story...Fifth Column
Unwanted attention
Jeff Lucy took nearly two years to decide which listed company board he would join after stepping down as chairman of the Australian Securities and Investments Commission (ASIC), a position that effectively made him the country’s top corporate cop. Full story...Focus
Investment Demand – The Key to Higher Silver Prices
The investment demand for silver has outweighed declining industrial demand for the metal, keeping prices buoyant. Full story...People and Appointments
Central Asian Metals movements
Nick Clark has been appointed chief executive officer and Nigel Robinson has been named chief financial officer of Kazakhstan and Mongolia focused Central Asian Metals Ltd Full story...MMC at Lord’s
The Melbourne Mining Club’s third London event switches to the Nursery Pavilion at Lord’s cricket Ground on June 29. Full story...First Quantum directorship
First Quantum Minerals Ltd has appointed Paul Brunner to the board of directors Full story...New Rio Tinto chairman
Jan du Plessis assumed the role of chairman of the boards of Rio Tinto this week. Full story...Site Search
Log inIssue: 24/04/09
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