The Rio Tinto Group has approved the expansion of its iron ore operations in Australia. The company is to invest $676 million over the next six months to profit from ever growing global thirst for iron ore. The funds have been sanctioned to enhance work on port and rail engineering projects in the Pilbara region.
By Joel Scanlon
15 Jun 2011
The Tanzania parliament has approved a five year development plan which includes an Australian inspired super-profit tax for the mining industry. The $27.4 billion development plan hopes to earn revenue from the mineral resources of the nation.
By Joel Scanlon
15 Jun 2011
Kansanshi Mining a subsidiary of First Quantum Minerals operates the largest copper mine in Zambia. The company may spend to the tune of $900 million to increase production at the mine over the next three to four year period as copper prices soar.
By Joel Scanlon
15 Jun 2011
Australian Treasurer Wayne Swan said on Tuesday that the investment needs and demand for capital for the country are set to grow proportionately with the resources boom. For this reason Australia will have huge opportunities for foreign investment. The Treasurer was speaking to the International CEO Forum in Canberra.
By Joel Scanlon
15 Jun 2011
TVI Pacific has announced that Chinese National Petroleum Corporation International Ténéré (CNPCIT), Niger project operator, has started the drilling program at the Facai-1 exploration well.
Skeena Resources has reported the additional assay results of four holes from its ongoing 5,000 m diamond drilling at its Tropico Project in Mexico.
Quia Resources has started drilling at its San Lucas property in Colombia and has reported a ground magnetic survey and a 10 km induced polarization results.
By Joel Scanlon
15 Jun 2011
Harvest Natural Resources has identified oil in the wildcat well Dussafu Ruche Marin-1 (DRM-1), which was drilled in the Dussafu Marin PSC that is located in Gabon’s offshore waters, West Africa.
By Joel Scanlon
15 Jun 2011
Astra Mining, an Australian diversified mining company, has confirmed its intention to list on the Frankfurt Stock Exchange at an Extraordinary General Meeting held today.
South Africa’s National Union of Mineworkers is to ask the Chamber of Mines for a 14% wage hike as official talks began between between the two parties this week. This is part of the 2011 wage negation process.
By Joel Scanlon
14 Jun 2011
The debate over the proposed Carbon Tax continues to gather steam as a new survey released on Tuesday by the Australian Coal Association shows that mining jobs in New South Wales and Queensland will be affected by it.
By Joel Scanlon
14 Jun 2011
Kazakhstan based metals producer Kazakhmys has been approved for a $1.5 billion loan by the China Development Bank. This will allow it to develop its huge Aktogay copper project situated in eastern Kazakhstan.
By Joel Scanlon
14 Jun 2011
Anti-mining activists in West Virginia have been told in no uncertain way that they can no longer go climbing trees and chaining themselves to mining equipment. The activities used to protest at coal mines formerly owned by Massey Energy will now be brought to an end. The permanent injunction issued by US District Judge Irene Berger will see to that.
The Hecla Mining company has been ordered to pay $263.4 million plus interest to settle the Superfund lawsuit after nearly two decades. The lawsuit was first filed by the American Indian tribe of Coeur d’Alene in 1991. They were joined by the federal government in 1996 and later by the state government of Idaho.
Clifton Star Resources has obtained an updated NI 43-101 compliant resource estimate report from Peter Bevan, for the Donchester property that belongs to the Duparquet Gold Project in southwestern Quebec, which is functioned under a joint venture agreement with Osisko Mining.
By Joel Scanlon
14 Jun 2011