Canadian Orebodies has released the first set of results from their ongoing drilling exploratory program at the Haig Inlet Iron Ore Project. The iron ore project is situated on the Belcher islands in Nunavut in Canada.
Is the mining industry really the big boon for the Australian economy that it is made out to be? A new report from The Australia Institute questions this. The author of the report and economist Richard Dennis said that the political clout of the mining industry was way out of proportion with its economic reality.
The Brazilian miner Vale SA is likely to sell its giant bulk carrier ships to China. The world’s largest iron ore producer had commissioned more than a dozen such ships but has decided that it does not want to become a major freight operator.
A new report that was commissioned by the Minerals Council of Australia says that miners will pay close to $23.4 billion in tax to federal and state governments in 2010-11 financial year. Deloitte Access Economics said in the report that the mining industry has paid an average tax of 41.5% from the financial years between 2007-8 to 2009-10.
In Guinea the new National Transitional Council has begun debating a mining code that proposes the government own a 35 percent stake in commodity companies. Rumors have it that the code recommends a free participation level of 15 percent for the government and the right to buy another 20 percent.
Nicole Roocke, director of Western Australia's Chamber of Minerals and Energy, is amongst the many people who are apprehensive that a heritage listing for the Kimberley region by the government will lead to restrictions on the region’s mining and exploration development.
Australian mining companies are increasing their investment in African mines. The Foreign Affairs Minister Kevin Rudd said in a pre-recorded message to more than a thousand delegates at a mining conference in Perth that Australia was committed to sharing its mining experience.
Beowulf Mining is optimistic about its flagship project in Sweden. The Kallak South and Kallak North exploration drilling program have shown interesting and positive assay results. Bewoulfe Mining says it is greatly encouraged by the results of the drilling at the large iron ore resource.
Zone Resources has reported that the Ontario-based Discovery Diamond Drilling has moved a drill rig to the Labrador Trough for commencing the diamond drill program at the Zone Land Package.
Argus Metals has completed the Phase I reconnaissance program at the "core" 60 sq. km claim block of the Iron King project. The company has discovered long iron magnetite outcrops trend of 2 km in the west part of the project along with a central iron unit, which is mapped to having a true width of 25 m over >300 m.
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