Mining Business News

RSS

Australian Mining Tax Changes Rattle BHP and Rio Tinto

The two large Australian mining companies BHP Billiton and Rio Tinto are unhappy about the changes being written into the mining tax post-election. This was made evident to the Senate select committee that is investigating the proposed Minerals Resource Rent Tax (MRRT) in Melbourne.

From BHP Billiton Plc 9 Dec 2010

Fortescue Metals Launches $800 Million Bond Sale

To fund a mine expansion the Australian company Fortescue Metals Group Ltd is planning a $800 million bond sale. The money from the funds raised will be used for infrastructure expansions of the company's operations in the Pilbara region of Western Australia.

From Fortescue Metals Group Ltd 9 Dec 2010

REC Minerals to Conduct Geophysical Survey at Borden Lake South Gold Property

REC Minerals Corp. (TSX VENTURE:REC) has announced that it has entered into a contract with Geotech Ltd. to carry out a VTEM (helicopter-borne versatile time-domain electromagnetic) geophysical survey over its recently acquired 10,240 acre Borden Lake South gold property.

9 Dec 2010

Visible Gold Mines Begins Phase I Drilling at Silidor Gold Project in Quebec

Visible Gold Mines Inc. (VGD:TSXV and 3V4:Frankfurt) has announced than the company has mobilized a drill rig to its Silidor gold project located in the Rouyn township Province of Quebec.

From Visible Gold Mines Inc. 9 Dec 2010

Aultra Gold, Shamika Resources Sign Agreement to Buy 5 Gold Exploration Permits

Aultra Gold, Inc. (OTCBB:AGDI), operating internationally as Shamika2Gold, Inc., has entered into a definitive agreement with Shamika Resources to acquire 5 gold exploration permits in the Democratic Republic of the Congo for a total consideration consisting of 15 million shares of Aultra Gold, a $ 500,000 promissory note and a 2.5% net smelter return on exploration licenses PR-10190, PR- 10192, PR- 10185, PR- 8708 and PR- 3619 covering a total of 830 km2.

9 Dec 2010

HudBay Minerals Signs Subscription Agreement with Halo Resources

HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) today announced it has entered into a subscription agreement with Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) providing for the sale to HudBay on a private placement basis of 3,655,000 units of Halo at a purchase price of C$0.50 per Unit for total consideration of C$1,827,500.

From HudBay Minerals Inc. 9 Dec 2010

Everton Resources, Canadian Star Minerals Execute MoU with Strike Minerals

Everton Resources Inc. (TSX VENTURE:EVR)(FRANKFURT:ERV) has announced that, jointly with Canadian Star Minerals Ltd., a private company, it has executed a Memorandum of Understanding to sell or transfer ownership of options to give Strike Minerals Inc. (TSX.V: STK) a 100% undivided interest in a package of gold exploration properties at Hays Lake near Schreiber, Ontario approximately 70 kilometres west along the Trans Canada Highway from the multi million ounce Hemlo gold deposit in the Schreiber Hemlo greenstone belt.

From Everton Resources Inc. 9 Dec 2010

Illegal Mining in Indian Tiger Protection Zone

Illegal mining has come to light in Goa in the tiger corridor. The forestry department has initiated an investigation into the mining activity which was being conducted near the Netravali wildlife sanctuary in east Goa.

8 Dec 2010

Eldorado Gold Restarts Construction at Eastern Dragon

Eldorado Gold has restarted construction activities at the Eastern Dragon mine in China. The engineering is almost complete and procurement is 95 % done as per a company press release.

From Eldorado Gold Corporation 8 Dec 2010

Xstrata Board Approves Hunter Valley Coal Expansion

The $1.4 billion Hunter Valley coal expansion planned by Xstrata has been approved by the company board of directors. The expansion of operations in that area will create about 800 new jobs subject to Xstrata getting all necessary approvals from the state and federal government.

8 Dec 2010