Rio Tinto has been granted an extension of three months in the dispute in Guinea over the Simandou iron ore concession. The Anglo Australian mining giant had invested in the largest undeveloped iron ore deposit in Guinea but has been in dispute over blocks 1 and 2 which were given to BSG Resources.
By Joel Scanlon
24 Feb 2011
Copper Mountain Mining Corporation released a statement saying that the construction on its flagship project is right on schedule. They hope that the construction of the mine in southern British Columbia will finish by April this year and that production will begin by June. The project is located 20 km south of Princeton town in British Colombia.
By Joel Scanlon
24 Feb 2011
Wildcat Mining Corporation is wondering if it will find tellurium, a rare mineral, at its mines in southwest Colorado. The new managers of Wildcat Mining have filed a petition in La Plata County last week to re-open the gold and silver mines of the company near Hesperus.
By Joel Scanlon
24 Feb 2011
Hong Kong based Fortune Oil is venturing into Armenian iron mines. The Prime Minister of Armenia Tigran Sarkisian met with a delegation from the company led by the Executive Vice Chairman Daniel Chiu. After the meeting it was announced that Fortune Oil would invest around $500 million in the iron mining industry in Armenia.
By Joel Scanlon
24 Feb 2011
Central Iron Ore Ltd. (TSX VENTURE:CIO) has announced that three of its applications for exploration licences that are prospective for the occurrence of Iron Ore in Western Australia have now been successfully granted. It is expected that the remaining tenements will be granted over the coming months.
Athabasca Uranium Inc. has announced that it has arranged a private placement in the capital of the Company for aggregate gross proceeds of up to $2,500,000.
Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) today announces an increase in proved and probable reserves as of December 31, 2010 resulting in a 419 percent reserve replacement rate of 2010 production, based on 2P reserves.
Expedition Mining Inc. (TSX VENTURE:EXU) has announced that it has arranged the non-brokered private placement of up to 3,500,000 units of the Company at a price of CDN $0.32, and of up to 2,625,000 flow-through units of the Company at a price of CDN $0.40, for aggregate gross proceeds of up to CDN $2,170,000.
Nuinsco Resources Limited (TSX:NWI) today announced that field work conducted in January 2011 has identified a four kilometre strike length at the Talat Gadalla gold occurrence located on the Company's Bukari Concession Area in Egypt's Eastern Desert.
The United States Magnetic Materials Association, a trade association dedicated to restoring a secure rare earth supply-chain to support the domestic manufacturing of rare earth permanent magnets, today countered a recent study by the American Physical Society and Materials Research Society.
Golden Star Resources Ltd. (TSX:GSC)(NYSE Amex:GSS)(GSE:GSR) has announced significant increases in its Proven and Probable Mineral Reserves and Mineral Resources as at December 31, 2010.
Excalibur Resources Ltd. (CNSX:XBR)(FRANKFURT WKN:A0MMDH) has reported excellent progress in its 49% subsidiary called Minera Catanava S.A. de C.V. The Catanava Joint Venture is 51% held by Minera Apolo S.A. de C.V. which is providing the property, mining asset and the management of the project, and 49% held by Excalibur which is providing the financing.
Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) announces drill results on Monster Lake Project in Chibougamau Quebec.
VMS Ventures Inc. (TSX VENTURE:VMS) has announced the latest drill and assay results from the in-fill diamond drill program at the Reed Lake copper-zinc-gold-silver deposit, near Snow Lake, Manitoba, Canada.
YAMANA GOLD INC. (TSX: YRI) (NYSE: AUY) (LSE: YAU) today announced its mineral reserves and mineral resources for the year ended December 31, 2010.