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Hecla Mining to Settle Superfund Lawsuit for $263.4 Million

The Hecla Mining company has been ordered to pay $263.4 million plus interest to settle the Superfund lawsuit after nearly two decades. The lawsuit was first filed by the American Indian tribe of Coeur d’Alene in 1991. They were joined by the federal government in 1996 and later by the state government of Idaho.

From Hecla Mining Company 14 Jun 2011

Clifton Star Resources Receives Updated NI 43-101 Complaint Report for Donchester Property

Clifton Star Resources has obtained an updated NI 43-101 compliant resource estimate report from Peter Bevan, for the Donchester property that belongs to the Duparquet Gold Project in southwestern Quebec, which is functioned under a joint venture agreement with Osisko Mining.

14 Jun 2011

Draft Mining Tax Released by Australian Government

A draft of the proposed Minerals Resource Rent Tax (MRRT) has been released by the Treasury department of the Australian government. The new tax is a compromise which resulted after Kevin Rudd’s tax was rejected outright by the mining industry. The original resources supertax is what caused the ouster of the former Prime Minister after vehement opposition was seen to the tax proposal.

13 Jun 2011

Newcrest Flying Workers from East to West Coast to Fulfil Staffing Needs

Newcrest Mining is using ‘Fly in, Fly out’ labor for its Telfer mine in Western Australia. The workers are being sourced from the east coast instead of from Perth. The move signals a new beginning to the mining industry’s approach to employing workers.

From Newcrest Mining Limited 13 Jun 2011

China and Chile Ink New Mining and Banking Deals

China and Chile have signed agreements for mining, telecommunication and banking deals during the visit of Vice President Xi Jinping to Chile this week. Xi is expected to be the next President once current Chinese President Hu Jintao finishes his term in 2013.

12 Jun 2011

Arcus Development Group to Commence Diamond Drilling at Dawson Gold Project

Arcus Development Group has mobilized the crews to the Dawson Gold project. The company has started the in-fill auger soil sampling and is expected to begin diamond drilling soon.

10 Jun 2011

Peru Reassures Miners Over Honouring Existing Contracts

President-elect Ollanta Humala of Peru said that the county would respect the existing mining contracts. The price of mining stocks had plummeted on June 6, when the concerns over raising mining royalties and increased government control over natural resources were feared.

9 Jun 2011

Tanzania Looks to Increase Mining Taxes

In Tanzania the planning commission is considering introducing a super profit tax in the mining sector which would be similar to Australia’s resource rent tax. The country is amongst the top three gold producing nations in Africa.

From Barrick Gold Corporation 9 Jun 2011

Condor Petroleum Begins Drilling Operations at Kiyaktysay North-3 Well

Condor Petroleum has started drilling operations at the Kiyaktysay North-3 (KN-3) in Zharkamys West 1 Territory, Kazakhstan.

9 Jun 2011

Celebrities, Statesmen and Scholars Pressure Obama on Grand Canyon Mining Buffer

President Obama is being forced to take notice of the mining issues near the Grand Canyon by celebrities. An open letter with signatures of a number of prominent Americans has been printed in the New York Times urging the President to consider the 20 year extension of the mining buffer zone around the Grand Canyon National Park.

8 Jun 2011