A proposed copper mine in Tucson is awaiting federal approval. The south Arizona mine that would have and output of 234 million pounds of copper per year is stuck in limbo as it waits for permit applications to be passed. The Rosemont Copper mine is located 30 miles south east of Tucson on private and public land in the Santa Rita Mountains.
The Chief Executive Officer of Ivanhoe Mines, Robert Friedland is extremely pleased with the progress being made at the Oyu Tolgoi mine in Mongolia. The massive gold and copper mine is expected to begin production ahead of schedule and under budget as per Mr Friedland.
Full Metal Zinc has announced the ongoing surface exploration and drilling program at the Fortymile copper-lead-silver-zinc project in east-central Alaska.
High Desert Gold (HDG) has discovered two new excellent gold, silver and base metal mineralization areas, and also a skarn mineralization area at the San Antonio Project in Mexico.
Orestone Mining has begun the 2011 phase I exploration at the Captain project, which is situated around 65 km to the northeastern side of Fort St. James in British Columbia.
Calibre Mining has declared that its business partner B2Gold has agreed a Phase II exploration and budget for the Primavera prospect, which is a gold-copper project situated 7 km to the southern part of the past Santa Rita skarn mine, producing gold and copper, in the Borosi Project, northeast Nicaragua.
Stillwater Mining Company has reported record profits for the quarter ending June 30, 2011. The Montana based company has seen a 192% hike in profits recorded compared to the same quarter the previous year. The company earned nearly $42.7 million in the second quarter this year equating to 39 cents a share.
Freeport McMoRan Copper & Gold, Inc. (FMCG), the world's largest producers of copper, gold & molybdenum, has had an excellent second quarter. Earnings have practically doubled based on soaring metal prices and sales growth in double digits. The company posted a net profit of $1.37 billion.
The second quarter earnings of Lundin Mining Corporation have shown an increase of 36% from the corresponding period last year. However this was less than what the company expected. The lower earnings were a result of poor ore grades at their Portugal and Sweden based mines.
Eastmain Mines is currently performing a 15,000 m drilling campaign at the Eastmain Mine property, which is situated in James Bay, Québec.
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