The Collahuasi copper mine is said to be running normally even as the workforce strike enters a fourth day as per the joint owners Anglo American and Xstrata.
The world's largest steel producing company, ArcelorMittal, has decided to buy Baffinland Iron Mines Corp for Canadian $433 million. Its subsidiary ArcelorMittal South Africa Ltd which made the bid had been worried about heading into a bidding war with rival Nunavut Iron Ore. However no competing bid is currently expected.
Royal Dutch Shell has agreed to sell one third of its stake in the Australian company Woodside Petroleum for $US3.3 billion or about $A3.26 billion. Approximately 78.34 million shares would be sold by Shell to equity investors as per a company statement.
Zimbabwe has still not managed to get approval from the Kimberley Process Certification Scheme (KPCS) to sell its diamonds from the controversial Marange field. KPCS officials were hoping to reach an agreement by Thursday but this did not materialize.
By Dr. Cameron Chai
8 Nov 2010
The Chinese domestic mining industry is set to get a major financial shot in the arm as it gets ready to spend 30 billion yuan or almost 4.5 billion dollars on domestic exploration activities over the next five years. The hunt for domestic mineral deposits is part of an effort by China to reduce its reliance on imported material.
By Dr. Cameron Chai
8 Nov 2010
China hopes to tighten the environmental standards for Rare Earth Element (REE) miners. This will naturally increase the price of exports of the REEs. The news is causing concern to Japan and the U.S. who are the largest importers of the minerals. China currently supplies 95% of global REEs.
By Joel Scanlon
8 Nov 2010
The Woomera weapons testing range in South Australia's outback will be downsized to allow mining in the region as per a federal government report recommendation. Vast restricted areas of South Australia will be opened up to mining companies including foreign investors if the review is considered favourably.
Sudan is all set to give its fledgling mining industry a boost by signing ten new deals. The 10 exploration deals for gold and other minerals hope to diversify the dependency on the oil producing south.
By Joel Scanlon
8 Nov 2010
European Goldfields Limited (AIM: EGU / TSX: EGU) has announced that another milestone has been reached in the permitting process for its Project in Greece.
Diamonds North Resources Ltd. (TSX VENTURE:DDN) reports gold values of 7.92 g/T Au over a 4.25 metre chip sample including a 16 g/T Au assay over 0.25 metres on its 100% owned HI-1 Gold Prospect located on the Halkett Inlet project, Nunavut.
African Metals Corporation (TSX VENTURE:AFR)(FRANKFURT:OWW) has provided an exploration update on its on drilling activities at its projects in the Democratic Republic of the Congo.
Mr. Renaud Hinse, President and C.E.O. of Abcourt Mines Inc. (TSX VENTURE:ABI)(BERLIN:ABI)(FRANKFURT:ABI), has provided an update on Elder-Tagami surface diamond drilling.
China Gold International Resources Corp. Ltd. has announced intercepts of high grade gold mineralization at the Jiama copper poly metals project in the Gandise Metallogeny Belt in Tibet, China.
Copper Fox Metals Inc. (TSX-Venture: CUU) has announced the assay results for the recently completed diamond drill hole CF398.
Eagle Plains Resources Ltd. (EPL:TSX-V) has received and compiled analytical results from its 100% owned Sprogge project, located within the Tintina Gold Belt approximately 35km southeast of the Cantung Mine, along the Yukon/NWT border.