The Fortescue Metals Group is now considering a listing on the Hong Kong or Shanghai stock exchanges as per its Chief Executive officer Andrew Forrest. The third largest iron ore mining firm in Australia has decided that it would be the best way to cement ties with steel mills in China.
AngloGold Ashanti has decided to sell about 390,000 square meters of its Savuka mining area to Blyvooruitzicht Gold Mining. The deal will bring cash to the tune of 35 million Rand (US$5.1 million) allowing the company to deal with their operating cash flow problems in the distressed DRDGold unit.
Northgate Minerals Corp. and Primero Mining Corp. decided on merging to resolve problems on both sides. Northgate Minerals will give 1.5 shares for each share of Primero Mining. The share exchange will be worth Canadian $370 million. The combined market capitalization of the new company will be approximately Canadian $1.2 billion.
Empire Mining has reported the initial underground diamond drilling results from the Bulqiza chromite project in Albania.
Pilot Gold has proclaimed that High Desert Gold (HDG) has concluded its earn-in option agreement for the Gold Springs gold project at the boundary of Nevada and Utah.
After Caterpillar completed its $8.8 billion acquisition of Bucyrus on Friday it announced the start of a new mining equipment division in Milwaukee. The acquisition deal was announced last December. The president of the new division Steve Wunning said that there were great times ahead for the newly merged company.
Hewlett Packard (HP) is making it easier for the Minerals and Mining Group (MMG) to communicate in-house in a multi million dollar IT transformation. When MMG took over OZ Minerals it had two infrastructure backbones. Then adding to the confusion was the fact that OZ Minerals had been formed by merging Oziana and Zinifex.
Despite the impending doom being spelled out by analysts against the mining tax and carbon tax, the coal industry in Australia has projects worth $15.9 billion under construction. There is also the hope that by the financial year 2015-16 exports of coal will be up by 60%.
Zone Resources has entered into a diamond drilling contract to conduct drilling at its Nunavik district, Northern Quebec-based Labrador Trough iron properties.
Gina Rinehart said that the international competitiveness of Australia would be impaired by the proposed mining and carbon taxes. The iron ore heiress was speaking on the sidelines of the Boao Forum for Asia business conference in Perth.
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