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Rio Tinto Granted 3-Month Extension in Guinea Iron Ore Dispute

Rio Tinto has been granted an extension of three months in the dispute in Guinea over the Simandou iron ore concession. The Anglo Australian mining giant had invested in the largest undeveloped iron ore deposit in Guinea but has been in dispute over blocks 1 and 2 which were given to BSG Resources.

By Joel Scanlon 24 Feb 2011

Copper Mountain Project on Schedule

Copper Mountain Mining Corporation released a statement saying that the construction on its flagship project is right on schedule. They hope that the construction of the mine in southern British Columbia will finish by April this year and that production will begin by June. The project is located 20 km south of Princeton town in British Colombia.

From Copper Mountain Mining Corporation 24 Feb 2011

Wildcat Mining Looks to Re-Open Mines in Search for Tellurium

Wildcat Mining Corporation is wondering if it will find tellurium, a rare mineral, at its mines in southwest Colorado. The new managers of Wildcat Mining have filed a petition in La Plata County last week to re-open the gold and silver mines of the company near Hesperus.

By Joel Scanlon 24 Feb 2011

HK's Fortune Oil to Invest $500 Million in Armenian Iron Ore

Hong Kong based Fortune Oil is venturing into Armenian iron mines. The Prime Minister of Armenia Tigran Sarkisian met with a delegation from the company led by the Executive Vice Chairman Daniel Chiu. After the meeting it was announced that Fortune Oil would invest around $500 million in the iron mining industry in Armenia.

By Joel Scanlon 24 Feb 2011

Central Iron Ore Receives Exploration Licenses in Western Australia

Central Iron Ore Ltd. (TSX VENTURE:CIO) has announced that three of its applications for exploration licences that are prospective for the occurrence of Iron Ore in Western Australia have now been successfully granted. It is expected that the remaining tenements will be granted over the coming months.

From Central Iron Ore Limited 24 Feb 2011

Athabasca Uranium to Use Net Proceedings for Exploration at its Uranium Properties

Athabasca Uranium Inc. has announced that it has arranged a private placement in the capital of the Company for aggregate gross proceeds of up to $2,500,000.

24 Feb 2011

Endeavour International Announces Increased Reserves in 2010

Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) today announces an increase in proved and probable reserves as of December 31, 2010 resulting in a 419 percent reserve replacement rate of 2010 production, based on 2P reserves.

24 Feb 2011

Expedition Mining to Use Private Placement Proceedings to Continue Drilling at Yukon and Nevada Projects

Expedition Mining Inc. (TSX VENTURE:EXU) has announced that it has arranged the non-brokered private placement of up to 3,500,000 units of the Company at a price of CDN $0.32, and of up to 2,625,000 flow-through units of the Company at a price of CDN $0.40, for aggregate gross proceeds of up to CDN $2,170,000.

24 Feb 2011

Nuinsco Resources Discovers New Gold Target at Talat Gadalla in Egypt

Nuinsco Resources Limited (TSX:NWI) today announced that field work conducted in January 2011 has identified a four kilometre strike length at the Talat Gadalla gold occurrence located on the Company's Bukari Concession Area in Egypt's Eastern Desert.

From Nuinsco Resources Limited 24 Feb 2011

United States Magnetic Materials Association to Establish Strategic Reserve for Rare Earth Metals

The United States Magnetic Materials Association, a trade association dedicated to restoring a secure rare earth supply-chain to support the domestic manufacturing of rare earth permanent magnets, today countered a recent study by the American Physical Society and Materials Research Society.

24 Feb 2011

Golden Star Resources Announces Increase in Proven and Probable Mineral Reserves and Resources

Golden Star Resources Ltd. (TSX:GSC)(NYSE Amex:GSS)(GSE:GSR) has announced significant increases in its Proven and Probable Mineral Reserves and Mineral Resources as at December 31, 2010.

From Golden Star Resources Ltd. 24 Feb 2011

Excalibur Resources Provides Details on Minera Catanava Joint Venture

Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT WKN:A0MMDH) has reported excellent progress in its 49% subsidiary called Minera Catanava S.A. de C.V. The Catanava Joint Venture is 51% held by Minera Apolo S.A. de C.V. which is providing the property, mining asset and the management of the project, and 49% held by Excalibur which is providing the financing.

From Excalibur Resources Ltd. 24 Feb 2011