Ruby Creek Resources has inked agreements for purchasing prospecting licenses of the mineral and mining rights for seven fresh properties, namely DB1, DB2, DB3, the Tunduru North, Tunduru South and the Keigei. All these properties are located adjoining its Gold Plateau project.
A new report from Ernst & Young said that the top risk factor for the mining sector was resource nationalization. The annual report, ‘Business Risks Facing Mining and Metals 2011-2012’, said that the most hindering factor for the minerals industry was going to be nationalization as close to 25 countries come up with new mining laws.
White Tiger Gold Ltd is all set to acquire the Century Mining Corporation after having received approvals from shareholders of both companies involved on Tuesday. Almost 100% votes were cast in favor of the deal by shareholders of White Tiger Gold, while close to 84% of votes cast by Century Mining shareholders were also in favor of the deal.
Hanlong Mining Managing Director, Steven Hui Xiao, Vice President Calvin Zhu and employee Fan Zhang have resigned until the investigation related to proposed investments in two Australian miners is concluded. All of them have been asked to stay in Australia whilst legal issues pending are resolved.
Seadrill has received a four year deal from Statoil, which is a global energy firm, for the West Hercules ultra-deepwater drill rig to operate in harsh surroundings.
As per a PricewaterhouseCoopers report the national labor productivity growth in 2010 slowed down to it’s lowest since 2005 for Australia.
The coal mining company Banpu Pcl from Thailand is to bid for the Australian-based coal explorer Hunnu Coal. Hunnu Coal is focused on Mongolia and had called for a trading halt on its shares last Friday saying that a potentially significant corporate transaction was due on or before Tuesday.
The Premier of Western Australia Colin Barnett has said that the resolution of the Oakajee port and rail development matter is merely weeks away. He said that the project was the most difficult one that he had worked on as Premier in his three years in office, but he was confident that it would commence soon.
Is the mining industry really the big boon for the Australian economy that it is made out to be? A new report from The Australia Institute questions this. The author of the report and economist Richard Dennis said that the political clout of the mining industry was way out of proportion with its economic reality.
Firebird Resources has reported the second hole results from the ongoing drill campaign at its Buzzard project in South Carolina.
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