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
Rare earth miner Lynas Corporation officially opened its Mt Weld mine in Western Australia last week with the Premier of Western Australia Colin Barnett performing the honors. The mine is located 35 km south of Laverton and is a $100 million project.
By Joel Scanlon
7 Aug 2011
The Chief Executive Officer of Ivanhoe Mines, Robert Friedland is extremely pleased with the progress being made at the Oyu Tolgoi mine in Mongolia. The massive gold and copper mine is expected to begin production ahead of schedule and under budget as per Mr Friedland.
Mining giant Rio Tinto has a ‘bumper’ $7.6 billion first half net profit. The record profit is linked to the steadily rising prices of commodities which are being driven by demand from Asian nations.
Full Metal Zinc has announced the ongoing surface exploration and drilling program at the Fortymile copper-lead-silver-zinc project in east-central Alaska.
By Joel Scanlon
6 Aug 2011
High Desert Gold (HDG) has discovered two new excellent gold, silver and base metal mineralization areas, and also a skarn mineralization area at the San Antonio Project in Mexico.
Lundin Petroleum has discovered gas at the Cempulut-1 well in East Malaysia. This well was drilled in Block SB303 of the offshore Sabah.
By Joel Scanlon
6 Aug 2011
Auriga Gold has released a preliminary NI43-101 resource estimate of the previously producing Puffy Lake gold deposit, which is located at the Maverick Gold Project in Manitoba.
By Joel Scanlon
6 Aug 2011