25/06/2010
New Australian PM gives mining industry hope for tax changes
Australia’s mining industry has welcomed incoming Prime Minister Julia Gillard as the country’s new leader opened the door to negotiations over the proposed Resources Super Profits Tax (RSPT) Full story...Blast kills 47 Chinese miners
In the deadliest accident to occur in China this year, a coal-mine explosion has killed at least 47 workers in the central province of Henan Full story...Sundance plane recovery continues, investigation to begin
Rescue workers were still busy with recovery operations five days after the tragic light-aeroplane crash in which 11 people died, including the entire board of directors of Sundance Resources Ltd Full story...Central role for gold
There has been a sea-change in attitudes towards gold from central banks, which have recently reversed their sales of bullion Full story...European minerals protection
The European Union has been called on to provide greater protection to its mineral assets. The call, signalled last week by the European Commission, came with publication of the findings from a two-year working group, the ‘Raw Materials Initiative’ Full story...Zimbabwe to amend ownership rules
Zimbabwe plans to alter its local ownership rules, including varying the required shareholdings depending on sector Full story...Guinea plans to buy 20% of Simandou
Guinea is to exercise a right to buy a fifth of Rio Tinto’s Simandou iron-ore project in the country, as a dispute over ownership of the project escalates Full story...
Production and Markets
Blast kills 47 Chinese miners
In the deadliest accident to occur in China this year, a coal-mine explosion has killed at least 47 workers in the central province of Henan Full story...
Central role for gold
There has been a sea-change in attitudes towards gold from central banks, which have recently reversed their sales of bullion Full story...European minerals protection
The European Union has been called on to provide greater protection to its mineral assets. The call, signalled last week by the European Commission, came with publication of the findings from a two-year working group, the ‘Raw Materials Initiative’ Full story...Patriot to close Harris mine early
Patriot Coal Corp says it has terminated operations and will permanently close its Harris No1 coking-coal mine following a recent roof-fall on its main line belt Full story...First Uranium receives final tailings permit
First Uranium Corp has received its long-awaited water-use licence for the Mine Waste Solutions (MWS) gold and uranium project in South Africa Full story...Massey sues Federal Agency over ventilation control
Massey Energy Co has sued the US Mine Safety and Health Administration (MSHA), alleging improper use of regulatory authority relating to the design of ventilation systems and limiting the use of underground scrubbers Full story...Guatemalan government to investigate Marlin claims
The Guatemalan government has said it would comply with a request from a human-rights group regarding suspension of Goldcorp Inc’s Marlin gold mine and would initiate an administrative process under the laws of the country Full story...Exploration & Development
Peñasquito heads for full output
Goldcorp Inc reports that it has achieved mechanical completion of the second sulphide-processing line ahead of schedule at its major Peñasquito polymetallic mine in Mexico, which it said was the largest open-pit mine in Mexico Full story...
Sundance plane recovery continues, investigation to begin
Rescue workers were still busy with recovery operations five days after the tragic light-aeroplane crash in which 11 people died, including the entire board of directors of Sundance Resources Ltd Full story...Atlantis II makes progress
David Heydon, the founder of Nautilus Minerals Inc, told Mining Journal this week that he is planning a launch later this year of his new deep-sea mining venture, DeepGreen Resources Inc. Full story...Los Azules estimate rises for Minera Andes
The recent drilling programme at Minera Andes Inc’s Los Azules copper porphyry project in San Juan, Argentina, has raised overall resources and defined indicated resources for the first time Full story...Austin assays
Silver Swan Group Ltd has completed two boreholes to test its Austin polymetallic find in Western Australia Full story...Nechalacho prefeasibility finds positive outcome
The independent prefeasibility study for the development of Avalon Rare Metals Inc’s Nechalacho rare-earth elements (REE) project in Canada’s Northwest Territories has designed an economically viable, C$900 million (US$882 million) two-base project Full story...Khan goes to arbitration against Mongolia
Khan Resources Inc has retained legal representation to begin international arbitration proceedings against the Mongolian government in relation to the recent actions taken by the country’s Nuclear Agency, which appeared to invalidate Khan’s licences for the Dornod uranium project Full story...Altyntas intercepts
Central Asia Resources Ltd has intersected further gold mineralisation during drilling at its Altyntas property in Kazakhstan Full story...New Chatree zone
Kingsgate Consolidated Ltd has intersected a new zone of gold mineralisation near proposed open-pit mining areas in the northern portion of its Chatree gold mine in Thailand Full story...Arillery Peak assays
American Manganese Inc (formerly Rocher Derboule Minerals Corp) has intersected manganese mineralisation in palaeo-alluvial fans during drilling at the North Maggie zone, part of Artillery Peak manganese project in Arizona. Full story...Tharkhek find
PanAust Ltd has discovered high-grade skarn gold mineralisation at the Tharkhek gold property in Laos, near its Tharkhek copper-gold deposit Full story...More from Stonepark
Connemara Mining Company plc has received drilling results from Teck Resources Ltd for holes completed at the joint-venture Stonepark base-metals property in Limerick, Ireland Full story...Offshore mining study gives costs for Nautilus
Nautilus Minerals Inc has received an independent study of the detailed design and costings for its proposed Solwara offshore, underwater polymetallic massive-sulphide mining project in the waters off Papua New Guinea Full story...Mutooroo discovery for Sumitomo/Minotaur
Minotaur Exploration Ltd reports it has made a “significant magnetite iron-ore discovery” at its Mutooroo base-metals/iron-ore joint venture with Sumitomo Metal Mining Company Ltd in South Australia Full story...Riversdale MoU values Zambeze at US$2 bln
Riversdale Mining Ltd has signed two agreements with Chinese companies to advance its Zambeze coal project in Mozambique, under one of which a 40% interest would be sold at a price of US$800 million, valuing the project at US$2 billion Full story...Randalls initial target raised
Integra Mining Ltd has revised the mining schedule for the initial mine plan at its Randalls gold project in Western Australia, increasing target production by 20% to 90,000oz/y Full story...Finance
New Australian PM gives mining industry hope for tax changes
Australia’s mining industry has welcomed incoming Prime Minister Julia Gillard as the country’s new leader opened the door to negotiations over the proposed Resources Super Profits Tax (RSPT) Full story...
BHPB, Rio improve efficiency by paying higher royalties in WA
BHP Billiton and Rio Tinto have said agreements signed with the Western Australia government to pay higher royalties on their iron-ore production in the Pilbara region will improve efficiency at their operations Full story...Zimbabwe to amend ownership rules
Zimbabwe plans to alter its local ownership rules, including varying the required shareholdings depending on sector Full story...Northern Gold Mining makes placement
Toronto-based junior Northern Gold Mining Inc, which has exploration projects in the Timmins and Lake mining camps of Northern Ontario, has entered into an agreement with BayFront Capital Partners Ltd to complete a private placement worth US$2.5 million Full story...Uranium One positive on ARMZ deal success
Uranium One Inc chief executive Jean Nortier said he is confident that the proposed acquisition of a controlling stake in his company by Russia’s JSC Atomredmetzoloto (ARMZ) would be successful Full story...Codelco seeking partner on US$130m tailings project
Corporación Nacional del Cobre de Chile (Codelco), the world’s largest copper producer, has said it is seeking a partner to invest in and operate a US$130 million tailings project at its Andina Mining Division Full story...Guinea plans to buy 20% of Simandou
Guinea is to exercise a right to buy a fifth of Rio Tinto’s Simandou iron-ore project in the country, as a dispute over ownership of the project escalates Full story...Avocet wants to address onerous hedge
Brett Richards, the acting chief executive of Avocet Mining plc, has said proceeds from the potential sale of the company’s southeast-Asian gold assets could be used to reduce a hedging liability Full story...African Barrick likely to acquire early-stage projects
African Barrick plc, the recently-unbundled subsidiary of the world’s largest gold producer, will likely seek to buy undeveloped deposits rather than already producing mines Full story...AMC takes larger stake in Luisha
African Metals Corp (AMC) has entered into a letter of intent with TSM Enterprise Sprl to acquire a further 33% interest in Luisha Mining Enterprise Sprl (LME) and its eponymous project in the Democratic Republic of Congo Full story...Chaarat to acquire Kyrex
Chaarat Gold Holdings Ltd intends to add to its portfolio in the Kyrgyz Republic with a share-for-share acquisition of private exploration company Kyrex Ltd Full story...Meijin withdraws DMC offer
DMC Mining Ltd has disputed a decision from Chinese company Meijin Energy Group to withdraw its takeover offer for the company Full story...ABARE predicts iron ore, coal to lead Australian growth
The Australian Bureau of Agricultural and Resource Economics (ABARE) believes demand for iron ore and metallurgical coal will underpin the country’s short-term growth, but warned that Europe’s economic instability may have a negative impact Full story...Noble makes Gloucester bid
Noble Group is looking to buy the equity it does not already own of Gloucester Coal Ltd after its merger with Macarthur Coal Ltd failed to take place Full story...Citadel plans to fund Saudi Arabia mine
Citadel Resource Group has announced a A$250 million (US$220 million) entitlement issue to fund continued development of its Jabal Sayid copper-gold project in Saudi Arabia Full story...Remgro to unbundle diamond stake
Investment holding company Remgro Ltd plans to unbundle its 28.49% stake in South African and Angolan diamond company Trans Hex Group Ltd Full story...Fifth Column
Win some, lose some
Ken Gooding reports that Mark Creasy has millions of dollars already invested in Central Rand Gold Ltd, whose share price performance is one of the very worst among companies listed on AIM. Yet he is about to contribute another US$1 million to help keep CRG alive. Full story...Reports
Unlocking mineral potential
As the world’s third-largest democracy, and boasting a major economy and political stability, Indonesia has a lot going for it Full story...People and Appointments
Rusal signs Rio employee
UC Rusal, billionaire Oleg Deripaska’s aluminium company has split it’s sales unit in two and hired Steven Hodgson (pictured) from Rio Tinto to run its international division Full story...Rae joins Andean
Andean American Mining Corp has appointed David Rae as president Full story...AQM Copper adds board member
Ron Simkus has joined Canadian exploration company AQM Copper Inc as an independent director on its board Full story...Méthot to lead Blue Note
Blue Note Mining Inc has appointed Leon Méthot as chairman and chief executive officer Full story...Khan makes organisational changes
Martin Quick has retired as president and chief executive officer of Khan Resources Inc Full story...Huldra appoints CEO, president
After 30 years, and an extensive search for his replacement, Magnus Bratlien has stepped down as the president and chief executive of Huldra Silver Inc Full story...Mantra assigns alternate director
William Smart has been appointed by Mantra Resources Ltd as an alternate director for Colin Steyn Full story...Top End board changes
Australian company Top End Uranium Ltd has advised that Craig Michael has been appointed as a director and Saul Michaelis has resigned as a director of the company Full story...Journal Team Diary
Iron: Answer to global warming?
Thousands of tonnes of iron are to be dumped at sea in an effort to cut global warming by sucking carbon dioxide from the atmosphere Full story...Issue: 25/06/2010
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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