In Colombia major legislation was passed that will spread billions of dollars from oil and mining royalties more evenly across the nation. Colombia is the fourth largest producer of crude oil in Latin America and is set to hike exports of not just oil but also coal and metals in the coming years.
By Joel Scanlon
12 Jun 2011
China and Chile have signed agreements for mining, telecommunication and banking deals during the visit of Vice President Xi Jinping to Chile this week. Xi is expected to be the next President once current Chinese President Hu Jintao finishes his term in 2013.
By Joel Scanlon
12 Jun 2011
RPG Group firm CESC Ltd has decided to invest $10 million to gain a 4.8 % stake in Resource Generation which is a listed Australian mining firm. It made the investment using Bantal Singapore Pte Ltd, which is a Singapore based subsidiary that CESC owns wholly. The decision to buy a 10% stake in the company had been made last year.
By Joel Scanlon
12 Jun 2011
Uranium North Resource is mobilizing the drill rigs to the Amer Lake uranium project in Nunavut for the 2011 drilling program.
By Joel Scanlon
10 Jun 2011
Cadan Resources has reported additional results from the resource definition drilling program at its Tagpura porphyry skarn, which is located on its Comval property in Philippines.
By Joel Scanlon
10 Jun 2011
Gold Finder has encountered potential high-grade gold mineralization from its latest phase III drilling campaign at the Golden Rose Property.
By Joel Scanlon
10 Jun 2011
First Star Resources has reported its 2011 winter drilling program results from its flagship LMS property in Alaska.
By Joel Scanlon
10 Jun 2011
Arcus Development Group has mobilized the crews to the Dawson Gold project. The company has started the in-fill auger soil sampling and is expected to begin diamond drilling soon.
By Joel Scanlon
10 Jun 2011
South African Mining Minister Susan Shabangu has revoked the mining rights for a Wild Coast dune mining venture. The move was expedited due to strong opposition from the local community ably backed by environmental and tourism groups.
By Joel Scanlon
9 Jun 2011
President-elect Ollanta Humala of Peru said that the county would respect the existing mining contracts. The price of mining stocks had plummeted on June 6, when the concerns over raising mining royalties and increased government control over natural resources were feared.
By Joel Scanlon
9 Jun 2011
In Tanzania the planning commission is considering introducing a super profit tax in the mining sector which would be similar to Australia’s resource rent tax. The country is amongst the top three gold producing nations in Africa.
Australian miner Newcrest has cut its output estimates for gold in the current year. Newcrest Mining said that a power malfunction at the Lihir mine in Papua New Guinea was the reason why they had downgraded the full year gold production guidance from 2.82 million ounces to 2.7 million ounces of gold in 2011.
Australian Prime Minister Julia Gilard was happy with the new mining lease agreement that was signed between Rio Tinto and the Indigenous people this week. The bauxite mine and alumina refinery have been in operation since 1960 but only now have the Aboriginal people been given their due for the use of their traditional lands.
By Joel Scanlon
9 Jun 2011
Fairmont Resources has started the exploration at its Marmion South Contact Property. This property covers 8,208 ha around 200 km west of Thunder Bay in Ontario.
By Joel Scanlon
9 Jun 2011
Molycor Gold has begun the drilling program at its Beaverdell Silver property. This property is situated 4 km southeast of Beaverdell in British Columbia.
By Joel Scanlon
9 Jun 2011