Zambia is looking to realise greater profits from its mining industry. The Mines Minister Wilbur Simuusa was speaking to mine supplier and contractors at the Chingola mine club when he said that in terms of mineral resources they were the richest nation and yet they were counted amongst the poorest nations in the world.
Wallbridge Mining Company Limited has signed an agreement with Lonmin Plc in which Lonmin will buy 13.2 million units of Wallbridge for $2.5 million. Each unit of the Canadian company will cost Lonmin CAD $0.19 and comprise of one common share of Wallbridge and a half common share purchase warrant.
Newmont Mining said that costs for mining gold and copper would rise this year. This will be due to higher labor and power costs in Australia. The company also said that it would expect a lower production of copper this year due to hitting low grade ores Indonesia.
Lundin Mining Corporation declared that its fourth quarter copper output was up by 10%. The company produced 27,488 tonnes of copper in the final quarter of 2011.
Paget Minerals has reported the drilling results from the Ball Creek project. The drilling program was conducted on the Rainbow gold porphyry target, which is situated in the Golden Triangle - Iskut Mineral District in Northwest BC.
Blue River Resources has obtained the mineral assay results from the Castle Copper project. The location of this project is 25 km towards the northern part of the Copper Mountain mine and 12 km towards the northern part of Princeton BC.
Australian mineral exploration company AXG Mining has signed an agreement with Toronto Stock Exchange (TSX) listed Lara Exploration for the exploration of copper, gold, molybdenum porphyry projects in the Andahualyas Yauri mineral field located in south Peru.
Australian company Capital Gold Pty Ltd has signed a deal yesterday with Dizon Copper Silver Mines Inc. for the recovery of 110 million tons of gold and copper in its tailings dam in San Marcelino, Zambales in the Philippines.
Integra Mining Limited has released the assays of the follow up diamond drilling at its Imperial prospect. The assays returned high grade gold copper intersections at 6.2 meters at 13.43 grams per tonne of gold and 1.5% of copper.
Peel Mining Limited is happy to announce that the follow up drilling that it conducted at the Mallee Bull prospect has intersected more high grade Cobar style polymetallic mineralization. The Perth based mining company began the follow up drilling program in November 2011.
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