Zimbabwean President Robert Mugabe is set to take over 51% of all mines operating in the country, including foreign owned mines. The guidelines for mine ownership in Zimbabwe will be published on Friday and will take effect in a week’s time.
The intersection of a wide zone of mineralization grading 3.15 g/t Au over 21.5m including 9.78 g/t Au over 2m and 9.31 g/t over 2.5m in VL-11-250 located at the Leprechaun Gold Deposit has been declared by Marathon Gold and Mountain Lake Resources.
Rudy Gomez, a mining prospector, has sold the Carrapateena gold and copper project to Oz Minerals. The prospective mine is located in South Australia close to the BHP Billiton Olympic Dam mine.
Century Mining Corp said in a statement on Tuesday that it has put all capital projects on hold at their Lamaque gold mine in Val d'Or, Québec. The hold has been indicated due to equipment problems.
AngloGold Ashanti Chief Executive Mark Cutifani said that the company was not currently looking at making acquisitions, although they were always open to opportunities if they made economic sense. The company was ready to accept a range of options as per the CEO.
Shamika2Gold (Shamika) acquires 85% of MIG International Mining Group (MIG), a Mauritius company, that has concession of license in gold and ruby exploration in Cambodia.
Goldcorp and Xstrata Queensland ("Xstrata") sign a letter of intent (LOI) with Yamana Gold (Yamana) in which Minera Alumbrera (MAA) will have an option with respect to acquisition of Yamana's Agua Rica project in Alumbrera mine in the Catamarca province, northwest Argentina.
Resolute Mining (ASX:RSG) hopes to increase its gold output to 450,000 ounces by 2012. As its current assets are 'maxed out' so the company is looking forward to new acquisitions to enhance its gold production. The Chief Executive Officer of Resolute Mining, Peter Sullivan was speaking in an interview before the Prospectors and Developers Conference in Toronto.
The Fraser Institute has released its latest Survey of Mining Companies last week. This international survey is conducted annually by the Toronto based institute. It assesses the attractiveness of a particular region to mine investors and operators. The ranking of South Africa fell this year amongst the 79 major mining regions to position 67.
The Premier of New South Wales Kristina Keneally is on a road trip in Hunter Valley gathering votes in what was once a Labor stronghold. In Newcastle she said that the new state based tax on mining profits being proposed by the Shadow Treasurer Mike Baird would result in a loss of jobs.
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