CGA Mining Ltd is looking forward to an increased production from its Masbate gold mine in the Philippines. The processing plant was originally designed to operate at a rate of 4 million tonnes per annum but a recent investment in it is likely to increase the throughput to 6.5 million tonnes per annum.
Rio Tinto announced that it is increasing its stake in Ivanhoe Mines, a Canadian mineral exploration and development company which is currently developing the world's largest undeveloped copper-gold project in the South Gobi region of Mongolia.
Caerus Resources Corporation (TSX VENTURE:CA) provided an exploration update on its El Cafatel Gold Mine in Colombia.
The construction of Ivanhoe's Oyu Tolgoi Copper Gold complex in Mongolia is proceeding as per schedule. The President and Chief Executive Officer of Ivanhoe Mines Ltd. John Macken said that the successful ramp up to full scale construction was a remarkable achievement by the project's workforce and contractors.
Eldorado Gold Corporation has withdrawn its takeover bid for Andean Resources. The Canadian gold mining company's president and chief executive Paul Wright made the announcement on Wednesday.
The Zijin Mining Group Company has called off the acquisition of Platmin Congo Ltd. after it was saddled with regulatory probes in China over a recent toxic spill.
After acquiring Lihir Gold for $10 billion, Newcrest Mining is now looking for fresh mergers and acquisition opportunities in the Asia-Pacific and West Africa regions.
Goldcorp Inc. has agreed to buy Andean Resources Ltd. for $3.5 billion. The second largest Canadian gold producer exceeded a rival offer made five hours earlier to gain control of an Argentinean mine. The shares in Andean Resources also rose to Canadian $6.98 on the Toronto stock exchange before a trading halt was announced.
Kinross Gold Corp is hoping that Red Back Mining’s Tasiast mine located in the African nation of Mauritania is going to be substantially bigger than it is today. That is why it is asking Institutional Shareholder Services to back its friendly combination with Red Back Mining Inc.
The call to reject the Prosperity Mine proposal has received strong support from the Union of British Colombia Indian Chiefs in Canada. It is also supported by the Tsilhqot'in Nation, Esketemc First Nation, Canoe Creek Band and the Northern Shuswap Tribal Council.