26/06/09
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Production and Markets
Nyrstar eyes mining assets
Belgian zinc and lead smelting company Nyrstar NV has proposed a strategy change to move increasingly into mining
Avocet confirms takeover of Wega
Wega Mining was being looked at by a couple of majors before Avocet Mining plc took it over, according to Jonathan Henry, Avocet’s chief executive.Mano gets approval to acquire Aura
Mano River Resources Inc, the TSX-V and AIM-listed exploration and development company on Thursday won approval from its shareholders to take over African Aura Resources LtdProduction downgrade
Crew Gold Corp has adjusted its production guidance for 2009 at its Lefa gold mine in Guinea to a range of 220,000-240,000oz, down from its previous estimate of 290,000ozIndia considers revising royalties
India's Minister of Mines, Bijoy Handique, has announced a new 100-day agenda to reform the mining industry, driven principally by the new mining policy introduced last year.PanAust suspends Phu Kham
PanAust Ltd has declared force majeure on all sales contracts from its Phu Kham copper-gold mine in Laos, after a motor that drives the SAG mill failed on June 19Vale sets prices with ArcelorMittal
Vale SA has concluded its iron-ore and pellet price negotiations with steelmaker ArcelorMittal.Tsvangirai urges investors to embrace Zimbabwe’s mining sector
Zimbabwe’s mining sector presents the best opportunity for the nation to attract significant investment for economic development to take advantage of the global mining boom expected to resume by the end of 2010, Morgan Tsvangirai said in London on WednesdayTeck output down
Teck Resources Ltd is to cut production from its Highland Valley copper mine by around 35Mlb in the second half of the year and by 115Mlb in 2010 as it works with consultants to address geotechnical issues at the mineSouth Africa has shed 25,000 jobs
South Africa has lost almost 25,000 jobs in the mining sector so far this year, Minister of Minerals and Energy Susan Shabangu has said, but the figure is much lower than the 100,000 jobs some have estimated.Chambishi owner
Zambia has awarded ownership of Chambishi Metals plc to Enya Holdings BV, Minister of Mines Maxwell Mwale has announcedFinnish law
The Finnish government plans to propose a new mining law later this year that will restructure the funding it offers to mining companiesDriefontein reopens
Gold Fields Ltd has said its Driefontein mine has reopened after two miners died in an underground collapse last weekExploration & Development
Pitarrilla study outlines Breccia Ridge mine
A prefeasibility study for development of underground mining at the Breccia Ridge zone at Silver Standard Resources Inc's silver-zinc-lead Pitarrilla project in Durango Mexico has defined about 92Moz of silver in reserves.
Ajax scoping leads to prefeasibility
A scoping study for development of Abacus Mining and Exploration Corp's Ajax copper-gold project in British Columbia has encouraged the company to "move aggressively" and target completion of a prefeasibility study by the end of this year.Thunder Creek assays
West Timmins Mining Inc reports a wide zone of gold mineralisation was intersected at its 40%-owned Thunder Creek gold property in Timmins, Ontario.China's 3,000Mt deposit
An iron-ore deposit estimated to contain 3,000Mt of resources has been defined in China.Manalo clarification
Appleton Exploration Inc has clarified a recently-released drilling result from the Manalo gold property in Mali, in which it is earning a 100% interest.Summervale extension?
Jervois Mining Ltd has intersected lateritic nickel-cobalt mineralisation at Summervale in New South Wales, in what the company believes could be an extension of known mineralisation outlined by Anaconda Ltd before that company became Minara Resources Ltd.Iamgold raises Westwood resource
Data from more than 65,000m of drilling completed since the last resource estimate at Iamgold Corp's Westwood gold project in Quebec's Abitibi region have allowed the company to produce an updated estimate, raising contained gold by 9% to 3.4Moz.Linc sale
Linc Energy Ltd has decided to stop exclusive negotiations with Yanzhou Coal and its related entities regarding the sale of certain coal assets in Queensland, and has appointed investment bank UBS to help sell the properties.African Eagle moves to Dutwa feasibility
The results of a draft scoping study for development of African Eagle Resources plc's Dutwa lateritic nickel-cobalt project in Tanzania have encouraged the company to begin a feasibility study immediately.Kirkland Lake results
Continuing drilling at Kirkland Lake Gold Inc's South Mine Complex in Kirkland Lake, Ontario, has intersected further high-grade gold mineralisation.Final Mankayan assays
Bezant Resources plc has received the final results from the drilling programme at its Mankayan porphyry copper-gold-silver deposit in the Philippines.More from Underworld
Underworld Resources Inc has received aditional results from drilling at its White Gold gold property in Canada's Yukon Territory.Legal dispute
Centaurus Resources Ltd has commenced legal action for alleged breach of contract against its joint venture partner Mineração Marsil LtdaVotorantim in talks for iron-ore project
Grupo Votorantim, the Latin American industrial conglomerate, is holding confidential "strategic" discussions with interested parties regarding a new iron-ore project in Brazil's Minas Gerais State.West Pilbara port co-operation potential
Aquila Resources Ltd reports that its 50%-owned iron-ore joint venture to develop the West Pilbara iron-ore project in Western Australia has signed a co-operation agreement with Fortescue Metals Group Ltd to consider the joint development of a port at Anketell Point.High River updates Bissa
A new estimate for High River Gold Mines Ltd's Bissa gold deposit in Burkina Faso has raised resources.Invicta audit passes feasibility
Andean American Mining Corp reports that and audit has been completed of the feasibility study for development of its Invicta polymetallic project in Peru's Lima department.Tshipi feasibility outlines viable plan
Pallinghurst Resources Ltd reports its 10%-owned (effective) Tshipi manganese project in South Africa could support an open-pit operation.US Supreme court backs Coeur's Kensington
The US Supreme Court appers to have brought to an end the long-running dispute over the disposal of tailings from Coeur d'Alene Mines Corp's planned Kensington gold project near Juneau in Alaska.Pujada hope glimmers
The two sides in the dispute over the Pujada lateritic nickel project in Davao Oriental, Mindanao, in the Philippines, have agreed to drop their respective legal actions.Quellaveco approval
Anglo American plc's project manager for its 80%-owned Quellaveco copper development in Peru said the government had approved a revised environmental study.Bass plans Tasmanian expansion
Bass Metals Ltd has increased its Hellyer polymetallic tailings resource in Tasmania, with a view to start production near its existing Que River mineFinance
Kiernan revives Monarch Gold
Monarch Gold Mining Ltd could be brought out of administration and return to production within three months.Anglo American likely to attract more bids
Anglo American plc could be targeted for takeover by Vale SA or a Chinese consortium, according to analysts who saw a proposed merger between Anglo and Xstrata plc fail this week.Fresnillo/MAG takeover ends with more accusations
The attempted hostile takeover of MAG Silver Corp by Fresnillo plc has ended with both companies taking parting shotsAnglo American likely to attract more bids
Anglo American plc could be targeted for takeover by Vale SA or a Chinese consortium, according to analysts who saw a proposed merger between Anglo and Xstrata plc fail this week.Norseman listing
AIM-listed Norseman Gold plc commenced trading on the Australian Securities Exchange yesterday, following a successful A$9 million (US$7.2 million) equity raisingXstrata/Anglo American merger: analyst opinion
Most commentators agreed a merger between Xstrata plc and Anglo American plc would be a positive for the companies; however, there would be significant corporate and strategy differences to overcome to make it workableCatalpa to merge gold assets with Lion Selection
Gold mine developer Catalpa Resources Ltd plans to merge with its 47% shareholder, mining investment firm Lion Selection Ltd (LST), to create a 130,000oz/y producer.Sage gold goes on the hunt
Sage Gold Inc, a gold junior with projects focused in North America, particularly Ontario, is on the hunt for mergers and acquisitions.Kinross investment
Kinross Gold Corp has subscribed for 1.2 million units of Underworld Resources Inc for C$1.5 million (US$1.3 million)US approves IMF gold sale
The US Congress has approved measures that will boost the International Monetary Fund’s international funding and allows the IMF to go ahead with a proposed sale of up to 12.96Moz of goldBrockman stake
Hong Kong-based investment group Wah Nam International Holdings has increased its stake in Brockman Resources Ltd to 11.3% through two recent on-market purchasesStarfield buy
Starfield Resources Inc is to acquire Nevoro Inc in a deal worth about C$22.4 million (US$19.5 million)Gold One raising
Gold One International Ltd plans to raise A$37.5 million (US$30 million) by placing up to 120 million ordinary sharesSherritt funding
Sherritt International Corp has reached a deal with its partners in the Ambatovy nickel project in MadagascarFifth Column
Building a nest egg
Tony Sage, executive chairman of Cape Lambert Iron Ore Ltd, has not only fended off a tentative bid approach by Roman Abramovich’s Evraz Group SA, he has also survived a threat to oust him and some big shareholders from the Cape Lambert boardReports
