Sichuan Hongda Co. Ltd, has signed a deal worth $3 billion for a coal and iron ore mining in Tanzania. The Chinese company is one of many that are seeking a steady supply of raw materials from Africa to support its demand due to industrialization.
Castle Resources has reported the encouraging results of third set of drill cores from the current 35,000 m surface exploration that was conducted at the Granduc copper project, B.C.
Australia’s export earnings from the resources and energy sector are likely to hit a record high of $215 billion as per official forecasts. The Bureau of Resources and Energy Economics forecast in its last quarterly report that a 21% increase was expected in the 2011-2012 export earnings.
The Orissa state government has decided to ‘beef up’ the regulation of the mining industry in the state in response to the recent ban of iron ore mining by the Supreme Court of India in the state of Karnataka’s Bellary region. The state government has issued a notification for reducing environmental effects of iron ore mining in the Joda and Koira regions.
Quebec mining royalties reached a record high of $304 million last year. The Quebec Treasury had expected only about $133 million from the mining royalties in the budget last March. The amount is also higher than the $289 million collected over the last 10 years.
Cap-Ex Ventures has reported the preliminary drilling results from its Block 103 property and has identified a fresh high-grade magnetite zone at the Green Bush Lake’s east side.
Ferrex has begun resource drilling at its Malelane iron ore project in the prospective Mpumalanga Province of South Africa. They intend to cover 2,700 meters over 4 months to make the make the first JORC compliant resource by the opening quarter of 2012.
Indian companies are bidding on iron ore mining contracts in Afghanistan. The mine in question in Bamiyan province is being eagerly bid for despite security issues.
Guinea signed a new 106 page updated mining code into law last week. Mines Minister Mohamed Lamine Fofana said that it would root out unconscionable provisions and tone down Chinese investment in the nation.
Northern Iron has announced the next set of assay results of three drill holes from the Karas property.
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