Greystar Resources is unlikely to get its permit for the operation of a gold mine in the north eastern area of Colombia. The Mines and Energy Minister Carlos Rodado said that the $1 billion gold and silver mine would be rejected as it lacked viability due to environmental concerns. The project is located in a watershed area of the Colombian state and may have been difficult to manage.
In a mine collapse in Pakistan 10 people were killed and another 38 are feared to have died after methane explosions rocked the underground mine. The state-owned Pakistan Mineral Development Corporation mine is located in the Baluchistan province about 35 km away from the province capital of Quetta.
By Joel Scanlon
21 Mar 2011
Ludin Mining has asked its shareholders to reject the Canadian $4.7 billion bid made by Equinox Minerals saying that the offer is under valuing the company and is considered too uncertain. Ludin Mining said that the debt financed takeover bid from the company was financially inadequate and highly risky.
RX Exploration has announced encouraging gold and silver intersections from the ongoing 70,000 ft underground diamond drilling program at Drumlummon Mine, Montana.
By Joel Scanlon
21 Mar 2011
Breitling Oil and Gas, a Texas-based autonomous exploration and production company in Irving, has began the drilling in Magnolia #1, the first of the 2 wells at Breitling-Magnolia prospect in Pottawatomie County, Oklahoma.
By Joel Scanlon
21 Mar 2011
Cliffs Natural Resources Inc is hoping to raise $1 billion by selling senior notes. Bonds that carry a coupon rate of 4.8% that will mature in April 2021 will be issued for $700 million worth of notes. These will be offered on March 23, 2011. An additional $300 million worth of notes will be issued on April 1, 2011 and these will be with a coupon rate of 6.25% that will mature in October 2040.
The Federal Bureau of Land Management has issued a Record of Decision approving the Supplemental Environmental Impact Statement (SEIS) for the Cortez Hills mine in Nevada.
Magellan Metals Pty Ltd said that it would resume regular lead transport operations from its mine in Western Australia in the next few days. It said that after resumption of mining operations at the Magellan Mine in February 2011 there was a stockpile of lead concentrate waiting at its Wiluna mine site.
By Joel Scanlon
20 Mar 2011
Timber workers from Manjimup are the latest beneficiaries of the Pilbara region mining industry’s booming success. The mining giant Rio Tinto has decided to hire 24 former timber workers giving them a fresh lease of employment after the timber mills that they used to work for closed down.
By Joel Scanlon
20 Mar 2011
Entrée Gold remarks on the latest news of Ivanhoe Mines, which has announced the occurrence of a new shallow copper-molybdenum-gold mineralization zone just north of Entrée – Oyu Tolgoi joint venture ground in Mongolia.
By Joel Scanlon
18 Mar 2011
Brunei Shell Petroleum (BSP - Shell 50%) discovers new oil in coastal waters of the south-east Asian sultanate, Geronggong.
By Joel Scanlon
18 Mar 2011
Largo Resources is a mineral exploration and development company, Canada focused on establishing a global leading strategic metals company.
Gold Resource announces the production conversion and beginning of processing the La Arista underground ore. Gold Resource is a low-cost gold producer in the southern state of Oaxaca, Mexico.
Mining apprenticeships are being fast tracked in Queensland to try and meet shortfalls that the mining industry is currently facing. As per official estimates a shortfall of about 36,000 tradespersons will be found in the mining sector by 2015.
By Joel Scanlon
17 Mar 2011
Shares in Sundance Resources, an international resources company developing the Mbalam Iron Ore Project in the Republic of Cameroon and the Republic of Congo, in central west Africa, shot up by almost 7% once it reported finding high quality iron ore at Mbalam.