In South Africa the National Union of Minerworkers is worried that the Department of Mineral Resources (DRM) may be unable to fully regulate the mining industry in the nation. In its national executive committee meet, on Tuesday, it said that it had serious concerns about the DRM being able to handle the new online system that it had opted for.
By Joel Scanlon
4 May 2011
Woomera village is the center for an Australian Defence Force facility that supports a defence weapons testing range for the RAAF. Located in the north western part of the outback desert it was established in mid 1947. The launch site in the facility was in its day a rival to the one at Cape Canaveral and was central to Australia’s position in space research and development.
By Joel Scanlon
4 May 2011
U.S. coal producer Alpha Natural Resources has been in the news after it announced the deal to buy Massey Energy in January for $7.1 billion. The company recently announced a large increase in quarterly profits as well. However profits fell short of what analysts expected.
Nyrstar is eyeing one of Ludin Mining’s zinc mines. The European metals company has decided to take over one more zinc mine and is seriously considering getting its hand on the $1 billion zinc mine in Sweden which is currently owned by Ludin Mining.
By Joel Scanlon
3 May 2011
ESCO Corporation has filed for an Initial Public Offering with U.S. regulators on Monday. The mining equipment component maker is looking to list stock on Nasdaq under the ESCO symbol. It hopes to raise $175 million plus from the sale of its shares on the market.
By Joel Scanlon
3 May 2011
Coal mining acquisitions see Arch Coal buying out International Coal Group for $3.4 billion. This will allow Arch Coal to boost coal production for steelmaking grade coal and benefit from the soaring prices and global demand. It will also make Arch Coal the second largest U.S. producer of metallurgical coal by nearly doubling its production by 2015.
By Joel Scanlon
3 May 2011
New Dawn Mining Corporation is holding talks with the government of Zimbabwe concerning a new law that needs it to cede or sell 51% of its shares to black Zimbabweans.
By Joel Scanlon
3 May 2011
Senator Bob Brown of the Australian Greens is likely to ask for a Senate inquiry into the impact of undersea mining. Using underwater robots for mining the sea floor is likely to have some environmental impact and the leader of the Australian Greens wants to find out what it will be.
By Joel Scanlon
3 May 2011
The world's largest gold mining company Barrick Gold has moved into copper mining at a large scale. The company expects to produce nearly 300 million pounds of copper in the current year along with 7.8 million ounces of gold. With its acquisition of Equinox Minerals the copper figure may quadruple.
Explosives and chemicals manufacturer Orica has reported a strong profit with a nearly fivefold increase in the first half net profit for the year. The net profit of $263.8 million was posted by the company for the six months till March 31, 2011. This is a 379% increase from $55 million that was posted in the first fiscal half of 2010.
By Joel Scanlon
2 May 2011
After months of anticipation and waiting Rio Tinto finally gets its hands on Riversdale Mining. Having taken control of the company Rio Tinto has moved to delist Riversdale Mining from the Australian Securities Exchange.
By Joel Scanlon
2 May 2011
Once again the Treasury is warning the Australian government about the danger of inflation over the next couple of years as the resources boom powers yet another high growth year for the mining industry.
By Joel Scanlon
2 May 2011
President Evo Morales of Bolivia restructured mining, banking and investment laws in the country to increase state control over the economy. The legislation that the congress will draft is to replace 8 current laws that were annulled by the President on a Labor Day event. These laws had been enforced by President Victor Paz Estenssoro in 1985.
By Joel Scanlon
2 May 2011
Osisko Mining Corporation gave fresh data on its Malartic mine in Quebec based on a recently concluded resource estimation. The Montreal based mining company used the services of independent consultants G Mining Services to disclose the revised annual mine production plan.
Mining contractor NRW Holdings has bagged a contract from Rio Tinto for earthworks and primary civil works in the Pilbara region. The $160 million worth 12 month contract will see work at the Brockman project and the Western Turner Syncline project.
By Joel Scanlon
1 May 2011