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
Catalyst Resource Group, a company that deals with recovery of precious metals, has declared that its precious metals recovery system is about to increase the rate of recovery to about 10,000% higher than the traditional method.
By Joel Scanlon
14 Jun 2011
The coal mine project at Tavan Tolgoi in Mongolia is all set to move ahead with the government being deep into negotiations to appoint an operator for the mine. About six different companies have bid on operating the large coking coal resource. The ownership of the mine will remain with the government.
By Joel Scanlon
13 Jun 2011
Rare earth elements have been a hotly traded stock since China said that it was limiting their exports last year. The move led to a number of countries digging in their back yards for whatever rare earth elements they could mine on their own. It also saw stocks of mining companies dealing in rare earths go through the roof.
By Joel Scanlon
13 Jun 2011
The Swiss multinational mining and commodities trading company Glencore is looking for new acquisitions after its successful London float last month. If Glencore does manage to acquire the miner it is targeting the company would become one of the world’s largest mining operators, rivalling mining giants BHP Billiton and Rio Tinto in market capitalisation.
By Joel Scanlon
13 Jun 2011
A draft of the proposed Minerals Resource Rent Tax (MRRT) has been released by the Treasury department of the Australian government. The new tax is a compromise which resulted after Kevin Rudd’s tax was rejected outright by the mining industry. The original resources supertax is what caused the ouster of the former Prime Minister after vehement opposition was seen to the tax proposal.
By Joel Scanlon
13 Jun 2011
Newcrest Mining is using ‘Fly in, Fly out’ labor for its Telfer mine in Western Australia. The workers are being sourced from the east coast instead of from Perth. The move signals a new beginning to the mining industry’s approach to employing workers.
Capella Resources has identified two recent mineralization zones at its Lajitas gold-copper project in northern Chile through the airborne hyperspectral imaging survey, which was completed recently by SpecTIR of Nevada.
By Joel Scanlon
13 Jun 2011
Redhill Resources has announced that Mutiny Gold has reported to the company about the completion of infill drilling through the first reverse circulation (RC) drilling program at the Deflector extension zones.
By Joel Scanlon
13 Jun 2011
Everton Resources has announced its second drill rig’s arrival to begin the 20,000 m deep-drilling program at the Ampliación Pueblo Viejo (APV) project in the Dominican Republic’s central region.
Rodinia Oil has spudded its Mulyawara 1 well, which is the first well, in the Officer Basin of South Australia.
By Joel Scanlon
13 Jun 2011
UnionTown Energy has begun the drilling program at the New Miami property. The company is anticipating the completion of drilling in 10-14 days that comprises the turn, horizontal drilling leg and vertical drilling.
By Joel Scanlon
13 Jun 2011
Hong Kong based commodities trader Noble Group has made a rival bid for Territory Resources, an iron ore mining company. Territory Resources is currently under a takeover bid from Exxaro Resources, a South African coal mining company which is offering them 46 cents per share.
By Joel Scanlon
12 Jun 2011
The Construction Forestry Mining and Energy Union (CFMEU) has applauded the breakthrough deal with mining giant Rio Tinto in Western Australia. The collective agreement for iron ore rail workers in the Pilbara region is the first such union agreement with the mining company for 18 years. With this the union gains its first foothold in the region after nearly two decades.