GoldCorp Inc is reaffirming its commitment to precious metals. The chief executive officer of GoldCorp, Chuck Jeannes said that with their growth profile intact for the next five-plus years, it gave them the opportunity to try to continue that growth organically and through early-stage acquisitions, rather than going out and paying full price for a fully developed asset.
By Joel Scanlon
8 May 2011
Environmentalists in New Mexico are renewing their efforts to gain permanent protection for the Otero Mesa area in the south. About 183 claims are held by the Colorado based company Geovic Mining Corp in the region. The company finished staking a 5 square miles claim in the Cornudas Mountains last week in a bid to find rare minerals.
By Joel Scanlon
8 May 2011
Peel Mining Ltd has announced that its exploration drilling at the 4 Mile prospect has found significant silver, lead and zinc mineralization. The prospect which is owned 100% by Peel Mining is located in the May Day Gilgunnia project, situated 100 km south of the Cobar.
By Joel Scanlon
8 May 2011
Globe Metals & Mining have discovered virgin rare earth in Malawi. The discovery was made from a reconnaissance sampling program that it conducted at Mount Salambidwe in southern Malawi in south eastern Africa.
By Joel Scanlon
8 May 2011
Campbell Stewart has been named the head of Metals and Mining for UBS for the Asia Pacific region for investment banking. Mr Stewart is currently the head of investment banking for UBS in Melbourne besides heading the resources team for Australia. His new appointment will let him continue working based in Australia keeping his old roles while taking on the new one.
By Joel Scanlon
8 May 2011
Zijin Mining Group has been ordered to pay a fine of $4.6 million for the toxic spills in the Fujian province originating from its properties. The spill at the Zijinshan Gold and Copper Mine which occurred a year ago poisoned a river and killed many fish besides devastating the area.
By Joel Scanlon
5 May 2011
State run Brazilian steel maker CSN has announced first quarter profits as Net Income rose by 617.5 million Brazilian reais, a bit short of estimates of 677 million reais profits as expected by financial analysts. The Rio de Janeiro based company said that profits in the first quarter were up by 38%.
By Joel Scanlon
5 May 2011
Glencore is gearing up for its initial public offering (IPO) in London this year and it’s being highly anticipated by the market.
By Joel Scanlon
5 May 2011
The state government of New South Wales plans a tough new interim assessment regime for mining and coal seam gas extraction applications. The interim policy is applied in regional areas to help reduce the conflict between agriculture and tourism and the fast developing coal and coal seam gas industries.
By Joel Scanlon
5 May 2011
In Western Australia the government is hoping to protect the wine growing area of Margaret River from mining by setting up new laws. WA’s Environmental Protection Authority (EPA) recently denied LD Operations permission for a coal mine in the region. EPA chairman Dr Paul Vogel said that the proposal was fundamentally and fatally flawed.
By Joel Scanlon
5 May 2011
Auric Mining has signed a Letter of Intent (LOI) to purchase Homestead Tonopah Gold, which is situated at Carson City in Nevada.
By Joel Scanlon
5 May 2011
Habanero Resources has engaged Equity Exploration Consultants of Vancouver to supervise the 2011 drilling program in Yukon. The primary budget allotted for exploration work commencing on Haldane Silver prospect in June 15, 2011, is around $800,000.
By Joel Scanlon
5 May 2011
Exile Resources has spud the primary exploration well, Bostanci-1 in Turkey, along with its partner Valeura Energy and operator Aladdin Middle East.
By Joel Scanlon
5 May 2011
French company Areva announced 2 billion euro worth of sales in the first quarter in a statement on Monday. This is 2.2% higher than the same quarter last year. The rising prices of uranium have undoubtedly contributed to the mining and enrichment business of the company.
By Joel Scanlon
4 May 2011
IronClad Mining Ltd had signed an agreement with Sea Transport Corporation to use a multi-user port facility concept developed by Sea Transport Corporation.
By Joel Scanlon
4 May 2011