Wayne Swan the treasurer seems at odds with the tax summit being offered to key independent MPs in return for their support to form a Labor government. Mr. Swan said that the tax was not on the summit agenda and that he would like to get this into legislative shape as quickly they possibly can.
By Joel Scanlon
8 Sep 2010
The Zijin Mining Group Company has called off the acquisition of Platmin Congo Ltd. after it was saddled with regulatory probes in China over a recent toxic spill.
By Joel Scanlon
7 Sep 2010
Locals in the world class Margaret River wine region in western Australia are protesting furiously over plans by two companies to build an underground coal mine 15 km from the town.
By Dr. Cameron Chai
7 Sep 2010
ArcelorMittal and Indiabulls will form a joint venture for coal and iron ore mining. Indiabulls Real Estate has power plants while ArcelorMittal is the world’s largest steelmaker. It currently produces 8% of global steel supply.
By Dr. Cameron Chai
7 Sep 2010
Johannesburg is under threat from a toxic tide of acid mine water which is steadily rising. The water which is right now about 600 meters below the city is rising at a rate of 0.4 to 0.9 meters per day. If left unchecked this toxic acid water can cause earth tremors, power blackouts and cancer among the residents of the city.
By Dr. Cameron Chai
7 Sep 2010
The proposed mining tax (MRRT) was criticized as being a mere election ploy by opposition finance spokesperson Andrew Robb.
By Joel Scanlon
7 Sep 2010
The new deposit in Mato Grosso state of Brazil may be the largest discovered iron ore deposit in the world. It may potentially be greater than Vale SA’s Carajas mine. The state Secretary Pedro Nadaf said that the new deposit may contain 11.5 billion metric tons of ore with 41% iron content.
By Dr. Cameron Chai
6 Sep 2010
After failing to acquire the copper mine in Namibia with Hindustan Copper, Indian company Nalco, Asia's largest, and one of the world's leading aluminium companies, has now decided to shoot for uranium assets in the African country.
By Dr. Cameron Chai
6 Sep 2010
China Metallurgical Group Corp is planning to start construction on an iron ore mine in Western Australia by mid 2012 and start operations by 2015.
After acquiring Lihir Gold for $10 billion, Newcrest Mining is now looking for fresh mergers and acquisition opportunities in the Asia-Pacific and West Africa regions.
Goldcorp Inc. has agreed to buy Andean Resources Ltd. for $3.5 billion. The second largest Canadian gold producer exceeded a rival offer made five hours earlier to gain control of an Argentinean mine. The shares in Andean Resources also rose to Canadian $6.98 on the Toronto stock exchange before a trading halt was announced.
With the future of the new mining tax lying undecided, Fortescue has started lobbying the Australian Independent candidates. Andrew Forrest the Chief Executive of the Fortescue Metals Group Ltd. has met with some of the key independent MPs who could influence the fate of the mining tax on Thursday.
Kinross Gold Corp is hoping that Red Back Mining’s Tasiast mine located in the African nation of Mauritania is going to be substantially bigger than it is today. That is why it is asking Institutional Shareholder Services to back its friendly combination with Red Back Mining Inc.
The call to reject the Prosperity Mine proposal has received strong support from the Union of British Colombia Indian Chiefs in Canada. It is also supported by the Tsilhqot'in Nation, Esketemc First Nation, Canoe Creek Band and the Northern Shuswap Tribal Council.
Harry Winston Diamond Corporation is studying a different underground mining method which has the potential to reduce the costs of operations at the Diavik diamond mine. This new technique may allow them to explore recently discovered regions where mineralised kimberlite reserves have been identified.