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
Medusa Mining has announced that it has produced 25,114 ounces of gold in the March quarter. The Philippines focused Australia and Canadian listed miner said that gold production costs were US$191 per ounce after being recovered from an average grade of 11.58 g/t gold ore.
Extract Resources is a uranium explorer hoping to conduct business in Namibia. The company has said that it will be seeking clarification from the Namibian government on comments that were made by it regarding plans to assign almost all mining and exploration rights to the state owned mining company.
By Joel Scanlon
1 May 2011
In a new report the International Monetary Fund (IMF) has warned Australia to save the revenue that it is generating from the mining boom in order to deal with the upcoming challenge of handling an aging population.
By Joel Scanlon
1 May 2011
Sandvik Mining and Construction and Shandong Energy Machinery Co. in Xintai, Shandong Province, China, have signed an agreement to form a 50/50 owned joint venture for the production and sales of coal mining equipment.
Esperanza Resources has commenced drilling at the Pucarana project. The company has planned to drill 2,500 meters totaling 10 diamond-drill core holes.
By Joel Scanlon
30 Apr 2011
Treasury Metals has announced the addition of a third drill rig to the Goliath Gold project. The company is extending the ongoing 20,000 metre diamond drill program to 30,000 metres.