After its first democratic transfer of power last year the West African nation of Guinea is planning to stake a claim in one third of all mining projects. The nation of Guinea has considerable bauxite and iron ore deposits.
The mining industry may face an acute shortage of manpower in the next few years as per a report from professional services organization Deloitte. The report said that the industry will need 58,000 more workers by 2020 to maintain the production levels that the industry has at present.
The floods may not be the worst thing that miners will be facing in Queensland according to the Construction, Forestry, Mining and Energy Union (CFMEU). The CFMEU says that the mine workers in Queensland may also lose their jobs thanks to the heavy rains and floods.
The multinational mining giant Rio Tinto has seen record iron ore production in the last quarter of 2010. There was a 6% increase in the quarterly production in the final quarter of the year despite the troubles with Iron Ore Company of Canada.
The floods in Queensland are affecting its mining sector adversely. Projects worth $2 billion are facing delays and additional costs as the floods cause work disruptions in many mines across the state. Many mines have had to cease production on a temporary basis or shut down completely due to the heavy rains.
Anglo Aluminum Corp. (TSX-V:ALU) announces that it has filed with regulatory authorities an independent technical report dated December 15, 2010, on the Koba and Koumbia Bauxite Projects, located in Guinea, West Africa, prepared by Coffey Mining Limited.
According to the report, Queensland Premier Anna Bligh has taken the side of the mining industry in the debate with the federal government over royalties in the proposed mineral resource rent tax (MRRT.
Resources Minister Martin Ferguson said that the Australian federal government was not responsible for the latest mining tax row.
The air and sea borders of Guinea have been re-opened by Prime Minister Jean-Marie Dore ending the curfew that had been imposed. The West African nation saw street violence after elections which had led to the imposition of the curfew. The hours of the night time curfew have also been reduced from 6 pm to 6 am to 10 pm to 6 am.
Rio Tinto is all set to embark on a new Chinese joint venture and expand an existing one in place with Sinosteel. The Sinosteel deal involves extending the existing Channar iron ore joint venture in Australia. The expansion will help produce an extra 50 million tonnes of iron ore.
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