The rescue operation for the 33 miners trapped underground at the San José copper-gold mine, Chile reached a milestone when the 'Phoenix Capsule' reached the mine site on Saturday.
Cudeco (ASX:CDU) has picked up $20 million to ease market volatility via an institutional investor. The company has issued 10 million new shares at the rate of $2 each to the investor. The announcement made Cudeco shares rise by 12 cents, closing the week out at $2.15 per share.
The Orsu Metals Group is starting its feasibility study at the sulphide copper mine it owns in Kazakhstan. The London based mineral exploration company is examining the use of Chinese equipment to reduce its operational costs and to seek potential clients who would be interested in purchasing copper concentrate.
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.
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