30/10/09
China buys in to SouthGobi’s Mongolian coal expansion
Coal producer SouthGobi Energy Resources Ltd has secured US$500 million from China’s sovereign wealth fund to push forward with expansion of its mines and development of projects in Mongolia Full story...Investors tageted by Pebble opponents
Groups opposed to the Pebble project in Alaska have begun to target potential investors, claiming that the project involves significant political and regulatory risk. The project is owned by Anglo American plc and Northern Dynasty Minerals Ltd Full story...Jinchuan withdrawal ‘astonishing’ - Tiomin
Bob Jackson, chief executive of Tiomin Resources Inc, has described the withdrawal of its long-time partner, Jinchuan Group Ltd, from the Kwale mineral sands project in Kenya, as ‘astonishing’ Full story...Venezuela seizes Brisas project
The Venezuelan government has seized Gold Reserve Inc’s Brisas project in Bolivar state, just a week after the company filed for international arbitration against the Latin American country Full story...Vote in the Mining Journal 2009 Outstanding Achievement Awards
Mining Journal's Outstanding Achievements Awards are presented at a black-tie Awards Dinner on Wednesday December 2 at Old Billingsgate in London. Click here to cast your vote. Full story...
Production and Markets
Spence negotiations “difficult” for BHPB
A strike at BHP Billiton’s Spence copper mine in Chile has resulted in a stoppage of all mining and stacking activity, with the company saying negotiations with striking workers were“difficult” Full story...
Confidence grows in CoAL’s three-mine growth plan
Coal of Africa Ltd is to apply for a mining licence at its 1,300Mt Makhado coking-coal project in South Africa Full story...NSW fears losing royalties to carbon scheme
The New South Wales Minerals Council has warned that the Australian state could lose billions of dollars worth of royalties if the country’s proposed Carbon Pollution Reduction Scheme (CPRS) goes ahead in its current form Full story...Two die at Harmony’s Target mine
Harmony Gold Mining Co Ltd says two miners have died in a rockfall at its Target mine in the Free State Full story...Kumba wins Sishen South arbitration
An arbitration decision has been awarded in favour of Kumba Iron Ore Ltd, following a claim by ArcelorMittal South Africa Ltd to participate in the Sishen South project in South Africa Full story...Exploration & Development
Duluth's Nokomis keeps growing
The Nokomis deposit in Minnesota is one of the world’s largest polymetallic resources, according to owner Duluth Metals Ltd, which has announced a further increase in the scale of the mineralisation Full story...
Investors tageted by Pebble opponents
Groups opposed to the Pebble project in Alaska have begun to target potential investors, claiming that the project involves significant political and regulatory risk. The project is owned by Anglo American plc and Northern Dynasty Minerals Ltd Full story...Mariana finds new style for Patagonia
Mariana Resources Ltd has found disseminated low-sulphidation epithermal precious-metals mineralisation, hosted within the margin of a hydrothermally-brecciated rhyolite dome, at its Dos Calandrias project in Santa Cruz, Argentina Full story...Nyota intercepts
Mantra Resources Ltd has received further intersections from drilling at its Nyota prospect, part of its Mkuju River uranium property in southern Tanzania Full story...Austin copper results
Silver Swan Group Ltd said drilling at its Austin volcanogenic massive sulphide discovery, part of its Quinns copper property in Western Australia, has confirmed that mineralisation remains open at depth Full story...Tete region boosted by Benga, Vale decisions
Mining development in the Tete region of Mozambique has been boosted by recent commitments by Riversdale Mining Ltd, Tata Steel Ltd and Vale SA Full story...Metals Ex secures Runruno FTAA
A Financial or Technical Assistance Agreement (FTAA) has been signed by order of the president of the Philippines for Metals Exploration plc’s Runruno gold-molybdenum project Full story...Shahuindo assays
According to Sulliden Exploration Inc, the first “significant” drilling at the Shahuindo gold deposit in Peru in five years has shown continuity between mineralised zones Full story...Chatree results
Kingsgate Consolidated Ltd has intersected additional near-surface gold mineralisation near its Chatree gold mine in Thailand. Full story...Entrée's Mongolian grants
Entrée Gold Inc reports that the Mongolian government has approved the conversion of its Shivee Tolgoi and Javhlant exploration concessions to mining licences Full story...Hollister intercepts
Great Basin Gold Ltd has received “exceptional” results from underground drilling at its Hollister gold project in Nevada Full story...Venezuela seizes Brisas project
The Venezuelan government has seized Gold Reserve Inc’s Brisas project in Bolivar state, just a week after the company filed for international arbitration against the Latin American country Full story...Fortuna raises San Jose resource
Fortuna Silver Mines Inc has received a resource update for its San Jose silver project in Oaxaca, Mexico. The company said the latest independent estimate for the Trinidad zone deposit represented an 83% increase in tonnage compared with the previous estimate Full story...Turkish progress for Eldorado and Ariana
Eldorado Gold Corp and Ariana Resources plc have each announced progress at their respective gold projects in Turkey. Full story...Falun results
Golden Rim Resources Ltd reports that drilling at the historic former Falun copper-gold mine in Sweden has intersected gold, copper and bismuth mineralisation at the Johannes Lucas zone. Full story...New Etango zone
Bannerman Resources Ltd has found a new zone of alaskite-hosted uranium mineralisation at its Etango property in Namibia. Full story...Snowfield assays
Silver Standard Resources Inc has received the final assay results from the drilling programme at its Snowfield gold-copper property in British Columbia. Full story...Churchill posts reserve at East Kutai
The first reserve estimate for Churchill Mining plc's 75%-owned East Kutai coal project in East Kalimantan, Indonesia, has defined 856Mt of thermal coal in the probable category. Full story...Cluff raises Baomahun to 2Moz
Cluff Gold plc reported this week that it had achieved successful commissioning at its Angovia gold mine in Ivory Coast, and that the latest estimate for its Baomahun gold project in Sierra Leone outlined a total of 2Moz contained gold with overall resources at five separate deposits Full story...Clone intercepts
Canasia Industries Corp has received all assay results from the second phase of drilling at the Clone gold joint venture in British Columbia. Full story...Progress at Cigar Lake
Cameco Corp reports that dewatering of its 50%-owned Cigar Lake mine in Saskatchewan has resumed. The mine was originally flooded three years ago, and suffered a setback in August last year with a further inflow. Cameco stopped remediation of the No1 Shaft at that time. Full story...Finance
China buys in to SouthGobi’s Mongolian coal expansion
Coal producer SouthGobi Energy Resources Ltd has secured US$500 million from China’s sovereign wealth fund to push forward with expansion of its mines and development of projects in Mongolia Full story...
Jinchuan withdrawal ‘astonishing’ - Tiomin
Bob Jackson, chief executive of Tiomin Resources Inc, has described the withdrawal of its long-time partner, Jinchuan Group Ltd, from the Kwale mineral sands project in Kenya, as ‘astonishing’ Full story...African Aura to merge diamond subsidiary
African Aura Mining Inc, formerly Mano River Resources plc, has reached a heads of agreement to combine its 58.5% subsidiary, Stellar Diamonds, with West African Diamonds Ltd in what will likely be a 75:25 merger Full story...Ruukki, Sylvania to seek JV after terminating merger
The potential joint venture between Ruukki Group plc and Sylvania Resources Ltd could see the former selling a portion of its P4 furnace to Sylvania for cash or shares Full story...Sesa Goa under investigation
Indian iron-ore producer Sesa Goa Ltd has come under scrutiny from the Serious Fraud Investigation Office in a probe into “malpractices, financial and other irregularities” Full story...Australia approves Chinese takeover of Felix
The Australian Foreign Investment Review Board (FIRB) has approved a US$2.9 billion takeover bid by Chinese firm Yanzhou Coal Mining Co Ltd for coal producer Felix Resources Ltd, but with some conditions attached Full story...Boseto BFS funding
Discovery Metals Ltd has placed 29.1 million shares at A$0.45 (US$0.42) each to raise A$13.1 million to fund completion of a definitive feasibility study for the Boseto copper project in Botswana Full story...Ayanfuri cash
Perseus Mining Ltd has raised A$58.5 million (US$54.1 million) to underpin development of its flagship Ayanfuri gold project in Ghana Full story...Sumatra listing
Sumatra Copper & Gold Ltd launched on the Australian Securities Exchange this week, following a A$12 million (US$11 million) initial public offering Full story...Straits cash boost following Indonesia rezoning
Straits Resources Ltd has received payment of US$115 million from the sale of its 60% interest in Straits Bulk and Industrial Pty Ltd to the PTT Group, which was completed in April 2009 Full story...Genesis down
Another junior explorer, Genesis Resources Ltd, listed on the Australian bourse this week, but had a less fortunate debut; down 20% from its IPO price Full story...Fifth Column
Game on
There probably has never been a time when inhabitants of the Johannesburg mining village have had so much to gossip about – there has been such a great deal of corporate drama and so many well known executives have been ‘let go’, or booted out, in the past week or so Full story...Reports
Minor metals stall
Perhaps of most interest during October was the announcement by the Minor Metals Trade Association of its plans for an online price discovery system. This would use anonymous bid and offer prices for 12 of the minor metals, with the aim of providing representative pricing in the form of a weekly quotation set by market participants. Full story...Mining Journal Outstanding Achievement Awards
Voting by Mining Journal subscribers will end on Friday, November 20, and the winners will be announced at a black-tie dinner on Wednesday, December 2 Full story...Copper holds up Zambia
The geographical diversification of copper production in Zambia continued in 2008 and 2009. In the past, production of the metal focused almost entirely in the Copperbelt region around Kitwe and Chingola. However, with the recent development and ramp-up of open-pit mines at First Quantum Minerals Ltd’s Kansanshi and Equinox Minerals Ltd’s Lumwana operations in the northwestern province, most of Zambia’s copper production may soon originate from these areas. Full story...Changing gear
It has been a noteworthy month for European Goldfields Ltd Full story...Tanzania moves on from gold
Since the introduction of its 1998 Mining Act, Tanzania has become one of the world’s fastest-growing gold producers. It is now ranked third-largest, after South Africa and Ghana, among African countries. From 1998 to 2008, gold production increased from about 64,300oz/y to over 1.6Moz/y. There is still further potential for gold, and based on ongoing projects and developing mines, Tanzania’s proven reserves are now in excess of 45Moz. Full story...Mozambique builds a mining future
Despite the financial crisis, prospects for Mozambique’s mining sector look bright. Fatima Momade, National Director of Mining Resources, has recently forecast that the mining and oil sectors are planned to remain as the future drivers of GDP growth, reaching close to 15% by 2010. While oil revenues will lead this growth, mining-sector revenues, starting from a low base in 2000, are expected to be worth US$380 million by 2012. Full story...People and Appointments
New FD at CanAlaska
CanAlaska Uranium Ltd has hired Joseph Bowes as the new chief financial officer Full story...Kamstra takes CEO role at Pangea
Boris Richard Kamstra has been appointed as the new chief executive officer of Pangea DiamondFields plc, following the departure of Brett Thompson Full story...New COO at Rockwell
Rockwell Diamonds Inc has appointed Graham Chamberlain as its chief operating officer Full story...Trans Siberian appoints new CEO
Trans-Siberian Gold plc has announced Dmitry Khilov as its new chief executive officer, following the exit of Oleg Bagirov Full story...Nyota appoints executive director
Martyn John Churchouse has been appointed as an executive director at Nyota Minerals Ltd Full story...Azumah announces board changes
Azumah Resources Ltd has appointed Michael Atkins as non-executive chairman of the company Full story...Appointments at Galaxy
Chris Rainsford and Phil Harris have joined the team at Galaxy Resources Ltd’s Mt Cattlin operation Full story...Fred Roux removed as Implats chairman
In a short announcement on Friday, October 22, the board of Impala Platinum Ltd (Implats) terminated the chairmanship of Fred Roux with immediate effect, and have named Dr Khotso Mokhele as his replacement Full story...Journal Team Diary
Davis makes £8m on Xstrata share sale
Mick Davis, chief executive officer of Xstrata plc, has made a near £8 million (US$3.1 million) profit on a share sale after exercising options granted on his appointment in 2001 Full story...
Vote in the Mining Journal 2009 Outstanding Achievement Awards
Mining Journal's Outstanding Achievements Awards are presented at a black-tie Awards Dinner on Wednesday December 2 at Old Billingsgate in London. Click here to cast your vote. Full story...Site Search
Log inIssue: 30/10/09
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