27/08/10
Concern for health of trapped Chilean miners
Chilean authorities are preparing for the mental and physical toll on the 33 miners trapped underground at the San Jose copper-gold mine. Full story...Labour union against wholesale nationalisation of South African mines
The National Union of Mineworkers (NUM), South Africa’s largest labour union, says it does not support the “wholesale” nationalisation concept proposed by the youth league of South Africa’s ruling African National Congress (ANC) party. Full story...Australia’s mining tax hangs in the balance
The fate of Australia’s proposed mining tax on the producers of iron ore and coal remains unknown as the country awaits an outcome from last weekend’s federal election. Full story...Kolwezi controversy deepens
The controversy surrounding the disputed Kolwezi tailings project in the Democratic Republic of Congo (DRC) has deepened following a deal that provides Eurasian Natural Resources Corp (ENRC) with indirect control of the venture. Full story...Kloppers embarks on international road show
Marius Kloppers, chief executive of BHP Billiton, and fellow executives are set to meet shareholders of both BHPB and acquisition target Potash Corporation of Saskatchewan Inc over the next few weeks. In North America, as many as half of BHPB’s shareholders are believed also to own equity in PotashCorp. Full story...
Production and Markets
Concern for health of trapped Chilean miners
Chilean authorities are preparing for the mental and physical toll on the 33 miners trapped underground at the San Jose copper-gold mine. Full story...
Vedanta’s Orissa mining plan rejected
Vedanta Resources plc’s application to mine for bauxite in the Niyamgiri Hills area of India’s Orissa state has been refused by the Ministry of Environment and Forests. Full story...Review of Western Australian uranium regulations
The contentious issue of uranium mining in Western Australia is set to be monitored by an independent group of experts appointed by the state’s government. Full story...European retail gold demand more than doubles
European retail investors bought more than double the amount of gold in the June quarter than the previous three-month period. This represent the highest sales since end-2008, the peak of the global financial crisis. Full story...Talvivaara jolts production
Talvivaara Mining Company plc has reported new nickel and zinc production records for each month of the second quarter of 2010. Full story...Copper misses
Antofagasta plc says that so far in 2010 approximately 600,000t of expected global copper production has been lost due to supply disruptions. Full story...Russian miners die
The bodies of two miners have been found by rescuers at the Voroshilov coal mine in the Kemerovo region of Russia, the country's emergency situations ministry reported. Full story...Exploration & Development
Updated Burnstone resource rises to 20Moz
Overall resources at Great Basin Gold Ltd’s Burnstone gold project in South Africa were estimated to contain about 20Moz of gold, according to the latest estimate, compared with 16.2Moz previously. Full story...
Rambler plans Ming build
A feasibility study for redevelopment of the Ming copper-gold mine in Newfoundland has returned positive results, according to owner Rambler Metals and Mining plc. Full story...Consultant updates Cudeco's Rocklands
An independent resource estimate for Cudeco Ltd’s Rocklands copper deposit in Queensland has incorporated data from more than 260,000m of drilling completed since the last inferred estimate (25Mt at 2.04% Cu-equivalent), about four years ago Full story...Lake Giles assays
Macarthur Minerals Ltd has received assay results from further drilling at its Lake Giles iron-ore project in Western Australia Full story...Malrok intercepts
The first holes of Commander Resources Ltd’s programme at the Malrok gold zone, part of its Baffin Island gold property in Canada’s Nunavut Territory, have intersected further mineralisation. AngloGold Ashanti Ltd is earning a 51% interest. Full story...Homestead results
Recent results have confirmed Marra-Mamba-style iron-ore mineralisation at the Homestead zone of Giralia Resources NL’s Western Creek property in the Pilbara region of Western Australia. Full story...Perkoa binding
Glencore International AG and Blackthorn Resources Ltd have signed a binding agreement for a joint venture concerning the Perkoa zinc project in Burkina Faso. Full story...Metallurgy improves KSM costs
A metallurgical testing programme has found that operating costs at Seabridge Gold Inc’s KSM gold project in British Columbia could be reduced by US$20/oz. Full story...Developers sign up to Oakajee plan
Western-Australian infrastructure developer Oakajee Port & Rail Pty Ltd (OPR) has signed memoranda of understanding (MoU) with three potential foundation customers for the proposed transport of iron ore Full story...Vale secures Liberian route for Simandou joint venture
The Vale SA-BSG Resources Ltd Simandou iron-ore joint venture, based in Guinea, has signed an agreement with the government of Liberia to allow transport of output from the proposed development through the country Full story...Cairn Hill opening
South Australian Premier, Mike Rann, has officially opened IMX Resources Ltd’s 50%-owned Cairn Hill iron ore-copper-gold mine. Full story...First Marropino shipment
Noventa Ltd has shipped the first concentrate from its refurbished and recently-reopened Marropino tantalum operation in Mozambique. Full story...Orvana outlines Don Mario future
Orvana Minerals Corp has completed a reserve and cash-flow model for the exploitation of the copper-gold-silver Upper Mineralised Zone at its Don Mario gold mine in Bolivia. Full story...Rambler plans Ming build
A FEASIBILITY study for redevelopment of the Ming copper-gold mine in Newfoundland has returned positive results, according to owner Rambler Metals and Mining plc. Full story...Finance
New World reinstates dividend
New World Resources NV (NWR), the Czech coal and coke producer, has reinstated its dividend. Despite a '50% of earnings' dividend policy, the company paid out less than half in 2008 and nothing last year, blaming "market conditions". Full story...
Labour union against wholesale nationalisation of South African mines
The National Union of Mineworkers (NUM), South Africa’s largest labour union, says it does not support the “wholesale” nationalisation concept proposed by the youth league of South Africa’s ruling African National Congress (ANC) party. Full story...Xstrata buys more iron ore exposure
Xstrata plc has made a A$428 million (US$383 million) cash offer for all the shares in Sphere Minerals Ltd, owner of the Askaf iron-ore project in Mauritania. Full story...Rio asserting control
Rio Tinto is to deploy internet-based software to manage the expenses of 20,000 employees. The Global Expense Management Solution is provided by UK-based Spendvision Group, and will be rolled out to ten business units over the next 12 months. Full story...Glencore profit
Commodity trader Glencore has reported a 42% increase in profits for the first half of calendar 2010 compared with a year earlier. Full story...Oz Minerals profit higher
A strong performance from Oz Minerals Ltd’s Prominent Hill gold-copper mine in South Australia has guided the company to a A$405.7 million (US$350 million) net profit for the first half of 2010. Full story...Chalco H1
Aluminium Corporation of China Ltd (Chalco) achieved an attributable profit of RMB531 million (US$78 million) in the six months to end-June as revenue increased by 114% to nearly RMB60 billion. Full story...Australia’s mining tax hangs in the balance
The fate of Australia’s proposed mining tax on the producers of iron ore and coal remains unknown as the country awaits an outcome from last weekend’s federal election. Full story...Kolwezi controversy deepens
The controversy surrounding the disputed Kolwezi tailings project in the Democratic Republic of Congo (DRC) has deepened following a deal that provides Eurasian Natural Resources Corp (ENRC) with indirect control of the venture. Full story...Austrian project acquired
Gold Mining Company Ltd has signed an agreement to acquire the entire share capital of Kibe Investments No2 Ltd, which holds exploration licenses covering “potentially high-grade gold projects” in Austria. Full story...Mineral Deposits changes mind on asset unbundle
Mineral Deposits Ltd (MDL) said a “number of factors” have influenced the decision to spin-off the Sabodala gold mine rather than its Grande Côte mineral sands project. Full story...HudBay invests further in Augusta
Canadian miner HudBay Minerals Inc will increase its stake in Augusta Resource Corp to 11% after agreeing to invest C$30 million (US$28.2 million) in the company. Full story...Macarthur to expand in Queensland’s Bowen Basin
ASX-listed miner Macarthur Coal Ltd has proposed an institutional placement to raise funds for an acquisition in Queensland. Full story...Lihir approves merger
Lihir Gold Ltd’s shareholders have overwhelmingly approved an A$10 billion (US$9 billion) takeover by Newcrest Mining Ltd. Full story...Hyundai, Samsung buy into Ambatovy nickel mine
State-owned Korea Resources Corp has sold a 5% stake in the Ambatovy nickel project to three Korean companies for US$140 million. The buyers are Samsung C&T, Hyundai Heavy Industries and Hyundai Corp. Full story...Agrium bid recommended
Australia’s AWB Ltd has recommended a A$1.2 billion (US$1.1 billion) cash offer from Agrium Inc, North America’s third-largest fertiliser producer. Full story...Wesizwe gets Bank of China support
Wesizwe Platinum Ltd has received an interim funding facility of R91 million (US$12 million) from the Bank of China ahead of more comprehensive funding from recently announced Chinese partners. Full story...Kloppers embarks on international road show
Marius Kloppers, chief executive of BHP Billiton, and fellow executives are set to meet shareholders of both BHPB and acquisition target Potash Corporation of Saskatchewan Inc over the next few weeks. In North America, as many as half of BHPB’s shareholders are believed also to own equity in PotashCorp. Full story...Fifth Column
Happy birthday
There are a couple of anecdotes being told about Marius Kloppers since he made his bid to take over Potash Corp of Saskatchewan Inc (PotashCorp). They are supposed to illustrate aspects of his personality. Full story...Reports
A Communication of Mining
A special feature in this week's Mining Journal celebrates Mining Journal's 175th anniversary. The publication was established in 1835, two years before Queen Victoria came to the throne. At that time, Britain was a major metals producer and its coal mines were expanding rapidly to meet the needs of the industrial revolution. Full story...
Minor Metals: Snap recovery
Having succumbed to the summer slowdown in July, several minor metals rose in August Full story...Powering the demand for energy
The uranium sector continues to grow steadily as the prospects for nuclear power improve with the rising need for primary supply Full story...People and Appointments
Bellzone welcomes Humphry
Exploration company Bellzone Mining plc has appointed Nick Humphry as project director of the Kalia iron-ore mine in the Republic of Guinea Full story...Continental changes
Canadian explorer Continental Gold Ltd has made several senior management appointments to augment its Toronto corporate team and Colombia operations team Full story...Avalon appoints Munckton
Andrew Munckton, previously general manager of operations at Gindalbie Metals Ltd, has joined ASX-listed Avalon Minerals Ltd as managing director Full story...Hillgrove signs MD
Hillgrove Resources Ltd has appointed Drew Simonsen as managing director Full story...Smith quits
Exploration and development company African Minerals Ltd has announced that chief financial officer and director Craig Smith has resigned to pursue other interests Full story...Gill replaces Scanlan
Matthew Gill will replace Gary Scanlan as managing director and chief executive officer of Castlemaine Goldfields Ltd next month Full story...McTiernan new director
Steve McTiernan has joined First Quantum Minerals Ltd as a non-executive director Full story...Issue: 27/08/10
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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