Cadillac Ventures has commenced its exploratory drilling program at the Burnt Hill project near Fredericton in New Brunswick. The Canadian project is a tin, tungsten and molybdenum project for which phase one of the three planned phases of exploration has begun.
By Joel Scanlon
14 Aug 2011
UQM Technologies has been selected to develop a unique motor that does not make use of rare-earth magnets. It will receive an advance of $3 million from the Department of Energy as part of the $175 million that it gives out for advanced vehicle research.
By Joel Scanlon
14 Aug 2011
Molycorp, Inc. announced its second quarter results with a record net sales of $99.6 million in the quarter. This was contributed to by a 58% increase in sales of rare earth oxides as compared to the previous quarter. The company saw a 314% increase in year over year rare earth alloy sales.
By Joel Scanlon
14 Aug 2011
Dragon Mining has good news from the Hangaslampi gold deposit in Finland. The exploratory drilling program at the gold deposit situated in the Kuusamo Gold project in the north of the country has found high levels of cobalt and rare earth elements in addition to the gold that it expected to find.
Macusani Yellowcake has pronounced further assay results from the drill campaign conducted at the two platforms, PT-CH2 and PT-CH17. These platforms are located at the Chilcuno Chico region of the Kihitian Property in Peru.
By Joel Scanlon
12 Aug 2011
Roxgold has extended the core drilling contract for 5000 m at the Yaramoko gold concession during mid-September. Moreover, the company is discussing for a further core drilling program of 5000 m later.
By Joel Scanlon
12 Aug 2011
Atacama Pacific Gold has announced continuous encouraging metallurgical results from the Cerro Maricunga gold project in northern Chile.
By Joel Scanlon
12 Aug 2011
Beaufield Resources has completed a month’s field work at the Schefferville iron property in Quebec. It has collected 700 grab-chip samples in total and these samples are being sent for analyzing the iron content.
By Joel Scanlon
12 Aug 2011
Elissa Resources has begun the core drilling program at the Sage Creek gold project. This project is situated in east-central Idaho, USA.
By Joel Scanlon
12 Aug 2011
Galaxy Resources Limited have posted strong production results for lithium at the Mount Cattlin spodumene mine and processing facility in Western Australia. The mine near Ravensthorpe in Western Australia has a spodumene concentrate production of 8,916 wet metric tonnes in the month of July. This is an increase of 25% compared to the month of June.
Kinross Gold saw profits soar in the second quarter and its revenue went up by 42% as the prices of gold bullion continued to rise. The Canadian gold mining company announced that its Board of Directors had declared a $0.06 dividend per common share.
Second quarter profits soared for Iamgold Corporation as the higher price of the precious metal was enhanced by the increase in production of gold for the company. The operating profits for the second quarter more than tripled as compared to the previous year. This was helped by the fact that profit margins on gold shot up by 35% over that time frame.
Aquila Resources Ltd is selling its Washpool coal project. Tony Poli, chief executive officer of the company said that dozens of potential buyers were studying the purchase of the asset. The Perth based company hopes to raise AUD $1 billion for the asset.
As Chinese steelmakers begin to refurbish their dwindling stockpiles the prices of iron ore are set to rise again. China saw iron ore imports increase by 6.8 % in the month of July as the seasonal demand for raw material was considered.
By Joel Scanlon
11 Aug 2011
The Swiss mining company Xstrata has decided to start a $47 million study to transform its Mount Isa mining operation. The firm wishes to develop a large multi-commodity open pit mine at the already present mine in north west Queensland. The study is to begin in August and will be completed by early 2013.
By Joel Scanlon
11 Aug 2011