The uncertainty over the new mining tax does not seem to be affecting the opening of a new mine in Southern Australia. The proposed Mineral Resource Rent Tax and its previous avatar have been held responsible for reduced investments in mines and ongoing projects around the country.
By Joel Scanlon
27 Aug 2010
In a tragedy in an abandoned gold mine in Venezuela six miners were killed while two others were injured as they worked the mine illegally.
By Joel Scanlon
26 Aug 2010
The National Union of Mineworkers (NUM) is in favor of a state mining company to invest in strategic minerals such as platinum, uranium, coal, iron ore and manganese.
By Dr. Cameron Chai
26 Aug 2010
Uranium Resources Inc. is showing its commitment to New Mexico as it begins plans to drill in the Grants mineral belt. They have contacted Stewart Brothers Drilling Co. of Milan, to help with the drilling, which would help evaluate the viability of the property for recovery mining.
Global mining giant Xstrata has launched a friendly takeover bid for Australian-based Sphere Minerals, valuing them at A $428 million. The iron ore prospector Sphere Minerals is active in Mauritania.
By Dr. Cameron Chai
26 Aug 2010
In a historic first, the government of British Columbia, Canada has agreed to share taxes collected from a new mine with the aboriginal people who are the traditional land owners of the region where the mine will be located.
The Indian Government has blocked the plans of Vedanta Resources to mine bauxite from the Niyamgiri hills sacred to local tribes.
Origin Energy (ASX:ORG) wishes to build a multi-billion dollar LNG plant with partner ConocoPhillips. The liquefied natural gas plant is one of almost a dozen scheduled to start up in Australia by the year 2016.
As the signs of financial recovery continue to affect the mining industry OZ Minerals presented a net profit for the six months ending 30 June 2010 at $405.7 million. A marked improvement compared to the $580.7 million loss it reported in the corresponding period last year.
Speculation over who is likely to make a bid for PotashCorp is growing with bids from Rio Tinto and a Chinese partner being considered as likely candidates.
The ban on open pit mining in the Philippine province of South Cotabato will be pushed through unless a court issues a restraining order or if local lawmakers craft a new directive. Gov. Arthur Pingoy Jr. said.
By Joel Scanlon
24 Aug 2010
Yukon government regulators have granted a water license to Alexco Resource Corp for its Bellekeno underground mine.
Brazil's Vale, the second-largest mining company in the world, had been seen as a possible saviour for PotashCorp but on Monday Vale denied that it was in talks to acquire the Canadian fertilizer company.
Lihir Gold Limited (ASX: LGL), a gold company with operations in Papua New Guinea, Australia and West Africa, has accepted the takeover bid offered by Newcrest Mining as shareholders have voted unanimously in favour of the bid.
With Iran expanding its uranium base as per the International Atomic Energy Agency, the United Nation’s Security Council has imposed a fourth round of economic sanctions on the country. It has also brought forth a strong international reaction especially from the French.
By Joel Scanlon
23 Aug 2010