Fronteer Gold (TSX:FRG)(NYSE Amex:FRG) announces that ongoing drilling to the northeast of the current resource area continues to intersect wide intervals of high-grade gold at its wholly owned Long Canyon gold project in Nevada.
Coalcorp Mining Inc. (NEX: CCJ.H) announces that it has acquired 6,000,000 common shares of Gold Hawk Resources Inc. (TSX-V: GHK) by way of a private placement, at a subscription price of $ 1.25 per common share for $7.5 million.
Aurizon Mines Ltd. has announced the discovery of a major gold-silver-copper-tungsten mineralized zone on the Rex South property in Nunavik, Northern Quebec.
Canadian International Mineral Inc. (CIN - TSX.V) and Commerce Resources Corp. (CCE - TSX.V) has updated the current and ongoing diamond drill program on their Carbo Rare Earth Element property.
Brazilian Gold Corporation has announced that it has recently completed the acquisition of Regent Brazil Holdings Limited, which holds title through option agreements to four projects in the Tapajós Mineral Province in Pará state and two projects in Mato Grosso state of northern Brazil.
AmeriLithium Corp. (OTC Bulletin Board: AMEL) has released details on its planned 8-hole drill program on the Company's Paymaster Canyon Lithium brine project in Nevada, USA.
Randgold Resources Ltd. has announced their first gold pour from the Tongon mine in the Ivory Coast. The company had forecast an average annual production of about 277,000 ounces of gold from the mine. The first bar of gold was produced with great ceremony in the presence of government representatives and other dignitaries.
Galaxy Resources (ASX:GXY) is getting a financial shot in the arm from two of China's richest men. The money will come from Li Shu Fu, who controls Hong Kong listed carmaker Geely and 44-year-old Wu Yue Ming, the owner of fast-growing conglomerate Fengli.
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.