The Australian Securities Exchange (ASX) is looking at updating its disclosure rules for mining companies when reporting their mineral reserves and resources. As per the ASX the new rule will help make it easier for the mining companies to procure funding for projects in the pipeline.
By Joel Scanlon
6 Oct 2011
Northgate Minerals Corporation announced that assay results from the four diamond drill holes at their Young – Davidson project were favorable. Two holes drilled showed a new Indicated and Inferred Resource estimate of 536,000 and 53,000 ounces, respectively.
By Joel Scanlon
5 Oct 2011
Sundance Resources is likely to accept the takeover offer initiated by Hanlong Mining. The board of directors of Sundance Resources, have endorsed the $1.65 billion takeover plan of the Chinese company.
Former Australian Prime Minister Bob Hawke is hoping to strengthen the ban on mining in Antarctica. He was joined by former French leader Michel Rocard in Tasmania to persuade more nations to join the mining ban. Michel Rocard is the French ambassador for the polar regions.
By Joel Scanlon
5 Oct 2011
The Worldwide Fund for Nature (WWF) has said that toxic mining disasters and industrial accidents are waiting to happen in Eastern Europe. Especially as after a year since the toxic mud spill in Hungary the European Union has been unable to pass any related legislation.
By Joel Scanlon
4 Oct 2011
There was trouble in the Philippines as rebel communists raided 3 mining companies disarming the guards and taking managerial employees hostage briefly.
By Joel Scanlon
4 Oct 2011
Calibre Mining announced the results from two of its ongoing five-trench sampling program on Monday. The exploration is based on its Primavera project in the Borosi property it owns in north eastern Nicaragua. The results of the assays are promising.
West Kirkland Mining has discovered a fresh gold zone at its optioned mineral claims, which is situated between the towns of Matachewan and Kirkland Lake.
By Joel Scanlon
4 Oct 2011
ECR Minerals has got additional 60 days from the date of paying a US$1.3 million of cash to the Unchimé iron ore project’s proprietors in Argentina, to obtain a 70% primary possession interest in the Unchimé project.
By Joel Scanlon
4 Oct 2011
Balmoral Resources has reported that the crews are moving presently to commence the preliminary drill testing program at the gold exploration targets, which is present at the Detour east property in west-central Quebec.
By Joel Scanlon
4 Oct 2011
Cayden Resources will commence the drilling program at its Las Calles target, which is located in the Morelos Sur project in Mexico.
By Joel Scanlon
4 Oct 2011
Rare earth prices which have been soaring in the wake of the Chinese export ban may now begin to fall. Many leading industrial houses have been working on substitute materials for rare earth metals in their manufacturing processes.
By Joel Scanlon
3 Oct 2011
The Environmental Protection Agency (EPA) has approved a cleanup project at an old uranium mine in the Navajo Nation reservation located in New Mexico. The plan calls for securing close to 1.4 million tons of contaminated soil in a lined pit at the Northeast Church Rock Mine.
By Joel Scanlon
3 Oct 2011
Yancoal Australia is likely to buy more mines in Australia. The company which is a subsidiary of the fourth biggest coal producer in China, the Yanzhou Coal Mining company is looking at spending $1 billion to acquire new Australian mines.
By Joel Scanlon
3 Oct 2011
Minmetals Resources is to buy Anvil Mining for $1.3 billion. Minmetals Resources is part of China’s largest metals trader and is interested in Anvil Mining for its copper mines in Africa, in particular the Kinsevere project in the Katanga province of the Democratic Republic of Congo.
By Joel Scanlon
3 Oct 2011