BHP Billiton is to acquire HWE Mining from Leighton Holdings, allowing the mining giant to switch to an owner-operater model at its iron ore mining operations in the Pilbara region. The deal will see Leighton Holdings richer by $735 million. HWE Mining had provided close to 70% of operations on behalf of BHP Billiton on contractual basis.
BonTerra Resources has obtained the complete drilling results from the hole BA-11-10. The company has identified extensive gold intercepts in this hole of the Urban-Barry belt.
Lundin Petroleum has discovered significant oil at the 16/2-8 appraisal or exploration well, which is located at the Aldous South prospect in PL265, Norwegian North Sea. The discovery is possibly an Avalsdnes discovery expansion, which was made by Lundin in PL501.
By Joel Scanlon
9 Aug 2011
Baobab Resources has provided the details on the exploration works that are ongoing at the Tete iron-vanadium-titanium project and Massamba Camp.
By Joel Scanlon
9 Aug 2011
HudBay Minerals has signed a definitive agreement with the Solway Group for the sale of 100% interest in the Fenix project.
Douglas Lake Minerals is a budding mineral exploration firm based in Tanzania, which focuses on the exploration and development opportunities in mining.
By Joel Scanlon
9 Aug 2011
Jindal Steel and Power Limited are going to use a new technology for smelting iron ore by using non-coking coal in their upcoming plants in the Indian states of Jharkhand and Orissa. Jindal Steel operates a 3.0 million tons a year steel plant in Chhattisgarh state and is setting up a plant of an equal capacity in Jharkhand state.
A proposed copper mine in Tucson is awaiting federal approval. The south Arizona mine that would have and output of 234 million pounds of copper per year is stuck in limbo as it waits for permit applications to be passed. The Rosemont Copper mine is located 30 miles south east of Tucson on private and public land in the Santa Rita Mountains.
By Joel Scanlon
8 Aug 2011
Sesa Goa, India's largest producer and exporter of iron ore in the private sector, is to acquire 51% stake in Western Cluster Ltd for a cash deal worth $90 million.
The biggest business risk for global miners is from resource nationalism. When the governments around the globe decide that they want to keep the profits of the blooming mining industry to themselves it is the multinationals who will suffer the most as per a new report from financial institution Ernst & Young, ‘Business risks facing mining and metals 2011–2012’.
By Joel Scanlon
8 Aug 2011
Adamus Resources has reported further oxide intersections from the reverse circulation (RC) drilling program along the Salman Trend. The location of this trend is at the Nzema gold project in south-west Ghana.
By Joel Scanlon
8 Aug 2011
Gulfmark Resources, a subsidiary of Gulfmark Energy Group, has applied for the drilling permits to the Texas Railroad Commission. The company has planned to drill the primary test well at the Kiefer Lease having 4,261 acres in Zavala County, Texas, after receiving the permit drilling program.
By Joel Scanlon
8 Aug 2011
Samaranta Mining has proclaimed that MPX Geophysics (MPX) of Markham Ontario has completed the Gamma Spectrometer and Helicopter Magnetometer survey of 501 line kilometer at four individual Samaranta properties, comprising the Guadalupe property, which is contagious to the northern border of the Colombia-based Frontino Gold Mines in Antioquia.
By Joel Scanlon
8 Aug 2011
Trafina Energy has performed drilling, coring, testing and casing at its third well in northeastern Alberta’s McMullen region. Trafina Martin Hills located at the 11-28 well was rig-released.
By Joel Scanlon
8 Aug 2011
The Reserve Bank of Australia (RBA) issued a quarterly statement on Friday to the effect that economic growth in the country would be pick up over the next couple of years but would face serious challenge from inflation which is expected to increase to 2-3% by the end of 2013.
By Joel Scanlon
7 Aug 2011