29/05/09
Kazakhstan claims foreign deals are illegal
Kazakhstan, the world’s third largest uranium producer, has accused the head of state mining company Kazatomprom of illegally selling deposits to foreign mining companies, in a move that has renewed fears of resource nationalisation in the Central Asian country Full story...Venezuela denies Brisas concession
The Venezuelan government has denied Gold Reserve Inc an extension of the Brisas del Cuyyni gold concession which contains around 3% of the Brisas gold project’s proven and probable reserves Full story...Canadian bill aims to increase accountability abroad
A new bill being sent to the Canadian Standing Committee on Foreign Affairs and International Development for further study, aims to promote responsible environmental practices and international human rights standards by Canadian mining companies operating in developing countries Full story...Rio secures Japanese benchmark, China holds firm
After longer than usual negotiations Rio Tinto announced this week that it had settled its 2009 iron ore prices with Japan’s Nippon Steel Corp at a 33% deficit to 2008 prices Full story...Mongolian election does not secure Oyu Tolgoi deal
This week’s elections in Mongolia, which saw a victory for the opposition Democratic Party candidate Tsakhiagiin Elbegdorj, may have increase uncertainty for an investment agreement for the Oyu Tolgoi copper-gold project owned by Ivanhoe Mines Ltd Full story...
Production and Markets
Kazakhstan claims foreign deals are illegal
Kazakhstan, the world’s third largest uranium producer, has accused the head of state mining company Kazatomprom of illegally selling deposits to foreign mining companies, in a move that has renewed fears of resource nationalisation in the Central Asian country Full story...
The battle for Rossing South heats up
AIM-listed Kalahari Minerals has issued a requisition notice to Perth-based Extract Resources - in which it holds a 39% equity stake - for a shareholders’ meeting to consider a resolution to remove Extract’s managing director Peter McIntyre as a board member Full story...Canadian bill aims to increase accountability abroad
A new bill being sent to the Canadian Standing Committee on Foreign Affairs and International Development for further study, aims to promote responsible environmental practices and international human rights standards by Canadian mining companies operating in developing countries Full story...Toledo recommences Berong shipping
Toledo Mining has recommenced direct ore shipping operations to BHP Billiton at the Berong nickel mine on Palawan Island in the Philippines Full story...SOLIDARITY REJECTS WAGE OFFER
Solidarity, the South African trade union, has rejected a salary increase offer of 6.5% from the Chamber of Mines and a 7.5% offer for coal mineworkers in categories four to eight Full story...MCA warns of more job loses from carbon scheme
The Minerals Council of Australia (MCA) has warned that a further 23,510 mining industry jobs could be lost in Australia as a result of the government’s Carbon Pollution Reduction Scheme (CPRS). Full story...Misleading signs for minor metals
The signs of recovery seen in some of the minor-metals markets during April proved mostly to be misleading, with only cadmium maintaining any impetus (and even this would appear to have been based on market manipulation rather than fundamentals). Full story...Rio secures Japanese benchmark, China holds firm
After longer than usual negotiations Rio Tinto announced this week that it had settled its 2009 iron ore prices with Japan’s Nippon Steel Corp at a 33% deficit to 2008 prices Full story...Mining Eye gains 29% in first quarter
The Ernst & Young Mining Eye index of the top 20 companies on AIM closed the first quarter of 2009 up 29% compared with the end of 2008, according to the accountanting group's latest report Full story...VALE NAME CHANGE
Cia Vale do Rio Doce has changed its name to Vale SA Full story...TAMBANG LOOKS TO COAL
PT Aneka Tambang, Indonesia’s second-biggest nickel mining company, said it is in talks to buy coal mines to help generate electricity. Full story...Rio reduces Argyle open pit staff
Rio Tinto has revealed that is to cut 121 staff from the open-pit operation at its Argyle diamond mine in Kimberley, Australia Full story...ASSMANG SHUTS OPERATIONS
Assmang Ltd, South Africa’s second largest manganese producer, said it would cut production at all of its operations as demand for steel making materials has fallen following the downturn in the world’s economies Full story...SUDBURY STRIKE MANDATE
Unionised workers at Vale Inco’s Sudbury, Ontario, nickel operations have voted to strike if labour negotiations with the company fail, a union spokesman said. Full story...South African economy falls with gold production
The South African economy has fallen into recession for the first time in 17 years on the back of declines in the mining and manufacturing sectors, which together represent one-fifth of the country’s economy. Full story...HOCHSCHILD TARGETS COSTS
Latin American gold and silver producer Hochschild Mining plc said unit costs were due to fall this year and reiterated its full-year production target. Full story...Mongolian election does not secure Oyu Tolgoi deal
This week’s elections in Mongolia, which saw a victory for the opposition Democratic Party candidate Tsakhiagiin Elbegdorj, may have increase uncertainty for an investment agreement for the Oyu Tolgoi copper-gold project owned by Ivanhoe Mines Ltd Full story...Exploration & Development
Chinese back Palmer’s Waratah
Privately-held Waratah Coal Pty Ltd plans to develop what could be Australia’s largest coal mine, after signing a memorandum of understanding with Metallurgical Corp of China Ltd (MCC) that would provide the majority of the required US$5.15 billion capital. Full story...
Official opening for Prominent Hill, Gedabek
The Premier of South Australia, Mike Rann, has officially opened Oz Minerals Ltd’s Prominent Hill copper-gold mine, and the first gold mine to be built in Azerbaijan has poured its first gold. Full story...Spongelite discovery
Chrysalis Resources Ltd has discovered a new gold zone at the Spongelite prospect at its Pioneer gold property in Western Australia. Full story...Impact discoveries
Impact Silver Corp has drilled silver mineralisation at two new discoveries within its properties in central Mexico. Full story...Big Hill numbers for Hazelwood
Preliminary plans for development of Hazelwood Resources Ltd's Big Hill tungsten deposit in Western Australia's Pilbara region suggest resources could support a five-year open-pit operation. Full story...Wheeler upgrade
Denison Mines Corp reports that chemical assay results for samples from the 60%-owned Wheeler River uranium property in northern Saskatchewan have confirmed, and "significantly exceed" down-hole probe results previously reported. Full story...Blackthorn results
The first phase of reverse-circulation drilling at Blackthorn Resources Ltd's group of tenements in Burkina Faso has intersected gold mineralisation at several zones. Full story...Utah U mine permit
White Canyon Uranium Ltd has received a mining permit for its planned Daneros Mine development in the US state of Utah. Full story...Plutus confirmation
Discovery Metals Ltd has confirmed additional near-surface copper-silver mineralisation at the Plutus prospect of its Boseto project in northwest Botswana. Full story...Venezuela denies Brisas concession
The Venezuelan government has denied Gold Reserve Inc an extension of the Brisas del Cuyyni gold concession which contains around 3% of the Brisas gold project’s proven and probable reserves Full story...Salt Creek intercepts
Further high-grade gold intersections have been returned for Integra Mining Ltd at the Salt Creek prospect of its Randalls gold project near Kalgoorlie in Western Australia. Full story...Rossing South confirmed
The high-grade nature of uranium mineralisation at the Rossing South prospect in Namibia has been confirmed again by the receipt by owner Extract Resources Ltd of what it said were some of the best chemical assays thus far. Full story...Kilbricken confirmation
Belmore Resources (Holdings) plc has received further drilling results from a programme at the joint-venture Kilbricken zinc-lead-silver property in Ireland. Full story...New Barnat find
Osisko Mining Corp has discovered a type of gold mineralisation new to the South Barnat area in a zone close to the deposit in Quebec. Full story...Cardero's Pongo payout halved
Cardero Resources Ltd has accepted a revised offer for its Pampa de Pongo iron-ore deposit in Peru from Chinese company Zibo Hongda Mining Co Ltd, a subsidiary of Nanjinzhao Group. Full story...Atlas confirms Wodgina development
Atlas Iron Ltd will develop its Wodgina iron-ore project in Western Australia's Pilbara region, after receiving interim results from the continuing feasibility study. Full story...Cudeco updates Rocklands
Further drilling results from its Rocklands copper project in Queensland have highlighted the high-grade nature of copper mineralisation, with native copper intersected in several holes. Full story...Rainy River raises indicated resources
An updated resource estimate by SRK Consulting has increased indicated resources at the Rainy River gold deposit in northern Ontario for Rainy River Resources Ltd. Full story...BC Iron agrees FMG infrastructure deal
BC Iron Ltd and Fortescue Metals Group Ltd have reached an agreement in principle concerning BC Iron’s use of the latter’s rail and port facilities to help develop BC Iron’s Nullagine iron-ore project in the Pilbara region of Western Australia. Full story...Block A contributes to Detour
Detour Gold Corp has received an independent resource estimate for the joint-venture Block A gold property close to its Detour Lake gold project in northern Ontario. Full story...Mountain Province updates Gahcho Kué estimate
Mountain Province Diamonds Inc has received a new resource estimate for the joint-venture Gahcho Kué diamond project in Canada's Northwest Territories. Full story...Finance
Platmin raises £39 million on AIM
Platmin Ltd’s £39 million (US$62 million) secondary raising was the biggest such deal on London’s AIM in 12 months, according to GMP Securities Europe LLP, the placing agent. Full story...
Signs of hope from equity financing
Equity financing of mining projects has returned to 2007 levels in the UK and US, and shows signs of recovering in Canada, but is still moribund elsewhere. Full story...HARMONY CLEARS DEBT
Harmony Gold Mining Co has repaid its R1.7 billion (US$210 million) convertible bond and is now debt free. Full story...Norilsk posts US$555 million loss on write-down
MMC Norilsk Nickel, the world’s largest nickel producer, recorded a loss of US$555 million for 2008, compared with a profit of US$5.3 billion the previous year. Full story...CHINA’S FIRST MINING FUND
The China Mining United Fund, China’s first mining investment fund, has raised Yu500 million (US$73.2 million) in its first phase of fund raising. Full story...DENISON SECURES FUNDING
Denison Mines Corp has secured funding of C$82 million (US$73.2 million) through the sale of 40 million common shares at C$2.05 per common share. Full story...First Arab uranium company formed
Thani Holdings, a privately-owned company in the United Arab Emirates, has established the region’s first independent uranium company, Arabian Uranium Ventures Inc, to develop uranium projects in the Middle East and Africa. Full story...PanAust gets Chinese investment
PanAust Ltd has received A$180 million (US$141million) investment from Chinese state-owned Guangdong Rising Assets Management (GRAM) in return for a 19.9% interest in the company, it was announced this week Full story...Fifth Column
Looking for a monster
Rob McEwen, one of North America’s most high-profile gold enthusiasts and now chairman and chief executive of US Gold Corp (UGC), has bought some more shares in his company – over US$8 million-worth Full story...Focus
TECHNICAL REVOLUTION
Mining pioneers of the late 19th century would have been surprised to learn that one day geologists would be able to delineate a resource on a computer with amazing accuracy. Three dimensional modelling has replaced hand-drawn maps, airborne surveys detect geology deep under the earth and computer software can process data in days that would have previously taken weeks. Full story...
PGM: weighed down by the economic downturn
The economic recession that gripped the world during the latter half of 2008 had a devastating impact on the three major platinum group metals (PGM) – platinum, palladium and rhodium. Demand for these metals is linked to the auto catalyst sector, where the metals are used for their catalytic properties to convert harmful tailpipe emissions into less harmful gases. Full story...Reports
Technical revolution
Mining technology has come a long way since the days of hand-dug pits and horse-driven whims. These days a good geologist will not only have a hand-lens, hammer and compass-clinometer in the tool kit, but a computer with 3D modelling software as well. Full story...
PGM: weighed down by the economic downturn
Around 60% of demand for platinum group metals is for auto catalyst use in vehicle manufacture, and the metal has been severely hit by the global collapse of this sector. Full story...People and Appointments
ANGLOGOLD ASHANTI BOARD CHANGE
Wiseman Nkuhlu is to join the board of Anglogold Ashanti Full story...OZ PROPOSES CHANGES
OZ Minerals has made a number of executive appointments. Full story...LARA CFO
Lara Exploration Ltd has announced that David L Miles has been appointed chief financial officer of the company, replacing Michael Sadhra, who has resigned. Full story...NEW CHIEF AT KOLA
Kola Mining Corp has named Victor Tskhovrebov as president and chief executive Full story...AFRICAN COPPER BOARD CHANGES
African Copper plc has announced the appointment of David Rodier and Jordan Soko to the board of directors Full story...HEAD AT DE BEERS DIAMOND JEWELLERS
Guy Leymarie, chief executive of De Beers Diamond Jewellers, a joint venture between De Beers and LVMH is to step down when his contract finishes on January 1, 2010 Full story...Site Search
Log inIssue: 29/05/09
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
We need you in Australia or Canada
Mining Journal is looking to employ a full-time member of staff in British Columbia
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