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Kinross Gold to Acquire 100% of Kupol

Kinross Gold Corporation hopes to buy a 25% stake in the Chukotka Mining and Geological Company for $350 million. This will give it full ownership of the Russian mining company and accord it full control of the Kupol gold mine in east Russia. The stake is currently owned by the Chukotka Autonomous Okrug.

5 Apr 2011

Mount Gibson Iron Ends Agreement with Shougang Concord

Mount Gibson Iron Ltd has ended its agreement with Shougang Concord International Enterprises. The agreement included the sale of 80% of its mine production to the Chinese steel manufacturing company from the Extension Hill mine. The company did not give any specific reason for the termination of the agreement.

From Mount Gibson Iron Limited 5 Apr 2011

Hunan Nonferrous Looks to Takeover Abra Mining

Abra Mining Ltd shares rose by more than 20% after the company recommended the takeover offer of Hunan Nonferrous Metals Corporation. The Chinese company currently is a majority stockholder of Abra Mining holding 74% shares of the company.

5 Apr 2011

Mexco Energy Acquires Working Interests in Fuhrman-Mascho Field in Texas

Mexco Energy is buying working interests in the 160 gross acres in the Fuhrman-Mascho Field of Andrews County, Texas, for an estimated purchase value of $670,000.

5 Apr 2011

Hondo Minerals Plans to Complete the Construction of Tennessee Mine Processing Plant

Hondo Minerals has planned to complete the Tennessee Mine Processing Plant near Chloride, Arizona.

5 Apr 2011

Everett Resources Starts Initial Drilling Program at Menarik Polymetallic Property, Quebec

Everett Resources has commenced the preliminary 2011 diamond drilling program at its Menarik polymetallic property, situated in the James Bay area of Quebec.

5 Apr 2011

Universal Potash Commences Staking Interests in Paradox Basin of Utah

Universal Potash has begun staking on its assets in the Paradox Basin of Utah. UPCO has hired Harrison Land Services to start the recon phase for two drill hole sites located in the recently purchased leases.

5 Apr 2011

Minmetals Resources Plans Equinox Takeover

Hong Kong-based base metals company Minmetals Resources (HKSE:1208) hopes to make a takeover bid for Equinox Minerals, an international mining company that is dual listed in Canada and Australia. The bid from the Chinese company may put the target’s hope to acquire Ludin Mining into jeopardy.

4 Apr 2011

VHGI Holdings Adds New Claims to Sun Gold Project

VHGI Holdings and VHGI Gold have announced the addition of 24 new claims to the Sun Gold Project situated between Prescott and Mayer, AZ, U.S.A. Now the area of the claim site is above 500 acres compared to the former 80 acres.

4 Apr 2011