The successful rescue of 33 miners who were trapped underground for nearly two months in Chile is likely to be made into a Hollywood movie.
By Dr. Cameron Chai
15 Nov 2010
The Essakane Mine in Burkina Faso has re-commenced operations as IAMGOLD Corp announced that the maintenance crew has restarted the semi-autogenous grinding (SAG) mill at the mine. The SAG mill restart attempt on Monday had seen the variable frequency drive fail. This had resulted in a temporary blackout in the generating station.
Powertech Uranium Corp, a Canadian company, is suing the state of Colorado through its South Dakota subsidiary, Powertech USA Inc. The action was filed on Nov 1, 2010 in the Denver District Court. It contends that the state has now adopted rules to keep groundwater clean which are "unreasonable".
By Joel Scanlon
15 Nov 2010
The strike of the union workers may have entered its 10th day but the copper output at the Collahuasi Mine remains constant. The mine located in northern Chile is owned by Anglo American and Xstrata. It is the fourth largest copper mine in the world.
Mining giant Xstrata is all set to invest $6 billion in three iron ore projects located in Mauritania. The investment of the Zug, Switzerland based mining giant will be made through Sphere Minerals Ltd. The investment will help Mauritania to produce 50 million metric tons of the steel making ingredients annually.
By Joel Scanlon
15 Nov 2010
Reliance Power has received the go ahead from the Indian government for its project in the state of Jharkhand. The proposed Rs. 20,000 crore project has been granted initial clearances for coal mining.
By Dr. Cameron Chai
15 Nov 2010
Anglo American has made £589 million from the sale of two steel processing plants. This is part of a series of sales that it is initiating to reduce businesses which are not essential to its growth. The two steel plants sold to the Australian company One Steel are located in Chile and Canada.
By Dr. Cameron Chai
15 Nov 2010
In Afghanistan the old meets the new in a bizarre fashion. At an archaeology site where a 2,600 year old Buddhist monastery is being excavated, a Chinese company waits in the wings to exploit the copper mineral resources below. The archaeologists are working on top of the second largest unexploited copper mine in the world in Mes Aynak.
The Australian government has seen the proposed mining tax being criticised and slammed by the mining industry and analysts but it remains committed to seeing it passed into law. The federal treasurer Wayne Swan said that they would fight for it in the parliament as it was good for the economy.
BHP Billiton is trying to salvage the situation after its Canadian Potash bid fell through. The Chief Executive Officer Marius Kloppers must be disappointed after this third failed proposition. The first two being related to the hostile bid for Rio Tinto and the following iron ore joint venture with Rio Tinto in the Pilbara region of Australia.
By Dr. Cameron Chai
15 Nov 2010
FEI Company (Nasdaq:FEIC), has launched a website for natural resources as part of an increased focus on the mining and oil & gas industries.
Pure Nickel Inc. (TSX: NIC, OTCBB: PNCKF) today reported that its option partner in central Manitoba on the Tower Property, Rockcliff Resources Inc. (TSXV: RCR), announced earlier today high grade copper-gold mineralization intersected in their first two drill holes (see Rockcliff Resources news November 10, 2010).
Sego Resources reports that it has received a permit for continued work on the Miner Mountain Copper/Gold Porphyry Project.
Century Mining has announced that the Company has entered into an agreement with a syndicate of agents co-led by Haywood Securities Inc. and Byron Capital Markets, and including Union Securities Ltd. pursuant to which the Agents have agreed to offer for sale, on a best efforts private placement basis, up to 12,820,513 units of the Company at a price per Unit of C$0.39 for gross proceeds to the Company of up to C$5,000,000.
IAMGOLD Corporation (TSX:IMG)(NYSE:IAG)(BOTSWANA:IAMGOLD) today reported that during this past weekend the maintenance team has restarted the semi-autogenous grinding mill at the Company's Essakane Mine in Burkina Faso.