A decision of a South African court to allow miners suffering from lung disease to sue their employers may spell millions of dollars in damages to the mining industry. A recent ruling of the Supreme Court ordered a mining firm in Johannesburg to pay compensation to the family of a dead miner. This overturns a law which prohibited mine workers with lung diseases from claiming compensation.
By Joel Scanlon
7 Mar 2011
De Beers has spent $43.4 million in 2010 exploring for diamonds. The company, of which Anglo American owns 45%, produces more than one third of the world’s rough diamonds is looking for new resources to expand output and replace old mines. It had spent $44.8 million on exploration purposes in 2009.
The role of China in global mergers and acquisitions in the mining sector has been overstated as per a new report. A PricewaterhouseCoopers report by Tim Goldsmith said that the US and Canada were far ahead of China when it came to global mergers and acquisitions in the mining sector.
By Joel Scanlon
6 Mar 2011
The Copper output for Zambia in January went up 60% compared to the production in January in 2010. The country is busy increasing its copper production so as to be able to benefit from the strong global price for copper as per the Central Bank of Zambia.
By Joel Scanlon
6 Mar 2011
The shares in Fortescue Metals Group went up after it said that it had discovered a 1 billion metric ton iron ore deposit near its existing mining operations. The shares in the Perth based Australian company were trading at $6.60, 7th Mar 10:48am AEST, on the Australian stock exchange. This is its largest gain since February 14 this year.
The Parkes Shire Council said that it was happy with the announcement of an elected New South Wales Coalition government committing to a policy of returning financial resources to the mining affected regions. This would translate into thousands of dollars over the next four years in terms of infrastructure projects.
By Joel Scanlon
6 Mar 2011
In a report published by the Fraser Institute, British Columbia is placed at the 39th on international mining jurisdictions. Only Nunavut and Northwest Territories ranked below B.C.
By Joel Scanlon
6 Mar 2011
Australia is near the top of the global mining merger and acquisition deals that took place last year as per a PricewaterhouseCoopers report. It is second only to Canada in the number of transactions that it made in the mining industry as a number of Australian firms tried to benefit from the surging minerals market.
By Joel Scanlon
6 Mar 2011
NW Tech Capital Inc. (PINK SHEETS:NWTT) subsidiary Canada Corp. announced today that it's looking into expanding its exploration portfolio with a potential new deal.
Cap-Ex Ventures Ltd. (TSX VENTURE:CEV) has announced that it has received regulatory approval to close its purchase and sale and royalty agreement between the Company and Mandu Resources Ltd., Bedford Resources Partners Inc. and 743584 Ontario Inc. to acquire a 100% interest in the Schefferville Properties, comprised of Block 103, Block 44 and Lac Connelly covering a combined area of 9,050 hectares in the Labrador Trough.
Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) has presented a corporate update for the Nixon Fork Gold Mine Project and to announce a non-brokered private placement.
Guyana Frontier Mining Corp. has entered into a definitive private placement and property rights agreement with Teck Resources Limited of Vancouver, B.C., pursuant to which Teck has purchased 7,000,000 units of Guyana Frontier, each a "Unit", at a price of $0.35 per Unit for total gross proceeds to Guyana Frontier of $2,450,000, and Guyana Frontier has granted Teck certain rights in respect of its exploration properties located in Guyana, South America.
Labrador Iron Mines Holdings Limited (TSX:LIM) has reported a new resource estimate for its Denault deposit, located in Quebec, about 6 km northwest of the town of Schefferville.
Quad Energy Corp. (Pink Sheets: CDID) has announced it has received information on an estimate of the PUD reserves on the Cave Pool Unit.
Argus Metals Corp. (TSX VENTURE:AML) releases a new Transient electromagnetic survey ("TEM") geophysical model of the "Sulphide Feeder Zone" on the Hyland Gold Project, Selwyn Basin, Yukon Territory.