AMEX Exploration has received all the essential license and permits for the drilling program at the Nueva Escondida property.
The rescue of 33 miners trapped in an underground mine in Chile is now going to hit the big screen. Producer Mike Medavoy maker of the Black Swan and his company Phoenix Pictures have come to an agreement with the miners to turn their ordeal into a motion picture.
The New South Wales Minerals Council said that the health and safety of miners could be in jeopardy without harmonized Occupational Health and Safety (OHS) regulations. The chief executive of the NSW Minerals Council, Nikki Williams made the statement at the largest OHS conference which hosted over 500 people.
In Queensland a Wagyû cattle breeding farm is to be sold to Xstrata. The Swiss mining giant is buying the 17,474 hectare pastoral farm from the Australian Agricultural Company. The deal has been struck for $21.6 million and the farm is to be sold minus the cattle and machinery.
A Deloitte Access Economics report said that the Reserve Bank of Australia (RBA) would increase interest rates three times over the coming year. This will be in response to rising wages that go along with the mining boom that will help lift the economy out of the slump that it went into following natural disasters.
Newcrest Mining had good news to share in its quarterly gold production report. The fourth quarter production of Australia’s biggest gold producer has rebounded 16% despite the problems being faced at its Hidden Valley and Lihir Mines.
OZ Minerals has confirmed a $200 million share buyback after announcing high copper and gold production from the Prominent Hill mine. The buyback is to take place after August 17, 2011 once the half year financial results are announced.
Afferro Mining is planning on raising funds through an institutional placing. The gold and iron ore mining company has projects in Cameroon and Liberia.
St. Eugene Mining Corp. said that private equity firm Churchill Natural Resources Partners had retreated from a potential bidding war with St. Eugene’s biggest share holder Claude Resources over the Tartan Lake gold mine.
Chilean President Sebastian Pinera has named a new Mining Minster after a cabinet reshuffle. Hernan de Solminachhas been appointed as the new mining minister, he was previously the Public Works Minister. Fernando Echeverria will take over the post of Energy Minister.
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