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.
A study released by the NMA on Thursday said that the EPA researchers in West Virginia did not prove that environmental harm was caused by mountain top mining. It also said that the study by the EPA was based merely on one organism, a type of mayfly.
By Joel Scanlon
2 Sep 2010
Patriot Coal Corp. is going to have to spend millions of dollars on a selenium clean up drive at two of its surface coal mines in West Virginia as a federal judge has ordered them to clean up the pollution they have caused.
Philex Mining Corp is looking to investment $5.2 billion in the Tampakan project in the Philippines. In a disclosure made by the COO and President Jose Ernesto C. Villaluna Jr to the Philippine Stock Exchange he mentioned that the company is constantly looking at all investment opportunities.
Ascot Resources, a Canadian mining company is hoping to drill near Mount St. Helens to determine if it is a viable site for mining minerals. The site is about 12 miles from the volcano.
The Mali government is hoping to attract new investments in the mining industry with its new mining code.
By Joel Scanlon
2 Sep 2010
Keeping illegal mining under check is turning out to be the next big challenge for the Indian state of Karnataka. The government is also going to install more checkposts and increate investigative squads to check the illegal mining and exports of iron ore.
By Dr. Cameron Chai
2 Sep 2010
Chile is reforming the mining tax on the mining industry and as the world’s largest producer of copper it will be able to raise close to a billion dollars over the next three years if the new tax bill is passed.