International PBX Ventures Ltd. has announced the discovery of a new copper porphyry mineralized zone called Copper South. The zone is located about 2.5 km west of the Sulfato South and Cerro Moly Zones in Chile.
The company holds 20,503 hectares of land in the Tulameen region near Princeton in British Colombia. This is a combination of 56 mineral claims. The project property is an ideal geological setting for a copper gold mine.
Rio Tinto announced that it is increasing its stake in Ivanhoe Mines, a Canadian mineral exploration and development company which is currently developing the world's largest undeveloped copper-gold project in the South Gobi region of Mongolia.
The construction of Ivanhoe's Oyu Tolgoi Copper Gold complex in Mongolia is proceeding as per schedule. The President and Chief Executive Officer of Ivanhoe Mines Ltd. John Macken said that the successful ramp up to full scale construction was a remarkable achievement by the project's workforce and contractors.
The Zijin Mining Group Company has called off the acquisition of Platmin Congo Ltd. after it was saddled with regulatory probes in China over a recent toxic spill.
After failing to acquire the copper mine in Namibia with Hindustan Copper, Indian company Nalco, Asia's largest, and one of the world's leading aluminium companies, has now decided to shoot for uranium assets in the African country.
After acquiring Lihir Gold for $10 billion, Newcrest Mining is now looking for fresh mergers and acquisition opportunities in the Asia-Pacific and West Africa regions.
The call to reject the Prosperity Mine proposal has received strong support from the Union of British Colombia Indian Chiefs in Canada. It is also supported by the Tsilhqot'in Nation, Esketemc First Nation, Canoe Creek Band and the Northern Shuswap Tribal Council.
Ascot Resources, a Canadian mining company is hoping to drill near Mount St. Helens to determine if it is a viable site for mining minerals. The site is about 12 miles from the volcano.
Chile is reforming the mining tax on the mining industry and as the world’s largest producer of copper it will be able to raise close to a billion dollars over the next three years if the new tax bill is passed.
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