The South African government has launched a state owned mining company. President Jacob Zuma launched the African Exploration Mining and Finance Corporation or AEMFRC with the hope that it would bring all state mining interests into its remit.
By Dr. Cameron Chai
28 Feb 2011
Ludin Mining's proposed merger with Inmet Mining Corp may now face a new obstacle - a hostile takeover bid from Equinox Minerals. The Vancouver based company Ludin Mining said on Sunday that Equinox Minerals intends to make an unsolicited takeover bid for the company before Monday markets resume.
By Dr. Cameron Chai
28 Feb 2011
Moly Mines Limited (TSX:MOL)(ASX:MOL) has advised a shipment of Spinifex Ridge Iron Ore Fines has this evening sailed from Port Hedland, destination China.
Perseus Mining Limited (ASX/TSX: PRU) has announced that pre-strip mining operations have commenced at the Central Ashanti Gold Project in Ghana.
Western Copper Corporation (TSX:WRN)(NYSE Amex:WRN) received notification of the Yukon Supreme Court's ruling regarding the Company's appeal of the Yukon Water Board's decision not to grant the Carmacks Copper Project a Water Use License on February 24, 2011.
Metals Creek Resources Corp. (TSX VENTURE:MEK) has announced the commencement of its first phase of drilling on its Ogden Gold Property in Timmins, Ontario.
Huldra Silver Inc. (TSX VENTURE:HDA) has announced that, further to its news release of February 18, 2011, it has completed its acquisition of four district lots consisting of 70.7 hectares of land located at Treasure Mountain, British Columbia, pursuant to the terms of a Purchase and Sale Agreement dated February 17, 2011 with The Gak Holdings Inc.
Endeavour International Corporation (NYSE Amex: END) (LSE: ENDV) has announced the United Kingdom Department of Energy and Climate Change (DECC) has approved the Rochelle Field Development Plan (FDP) for Block 15/27 in the Central North Sea, now known as East Rochelle. This approval represents phase one of the development of the Greater Rochelle area.
As previously reported, underground channel sampling continues at Nambija in accessible drifts in order to increase our geological knowledge and better define the boundaries of the known mineralization.
Midway Gold Corp. reports that exploration drilling conducted in the fourth quarter of 2010 has resulted in an extension of the mineralized strike length by about 1.8 km to the south-southwest of the previously known gold resource at Spring Valley.
Callinan Mines (TSX.V: CAA) ongoing exploration program at Gossan Hill has intersected gold mineralization in each of 12 holes for which assay results have recently been received.
Yukon-Nevada Gold Corp. (TSX: YNG) (Frankfurt Xetra Exchange: NG6) has announced additional assay results from its ongoing 2010 and 2011 Smith Mine underground drilling program at its wholly-owned gold production Jerritt Canyon property in Nevada, USA.
Richard Boulay, Chairman of StrikePoint Gold (TSXV: SKP) (OTCQX: STK) has announced commencement of the 2011 Strike Point Property diamond drill program and to summarize the results of exploration work conducted during the second half of 2010.
Pele Mountain Resources said in a press release that it had completed a resources estimate at the Eco Ridge Mine Uranium and Rare Earths Project it owns in Elliot Lake, Ontario. The mine is owned 100% by First Canadian Uranium which is a wholly owned subsidiary of Pele Mountain Resources.
By Joel Scanlon
27 Feb 2011
The initial public offering (IPO) of the Tavan Tolgoi coal mine will be the largest that Mongolia has ever had. The country has shortlisted four banks for the process. The lucky four which survived the culling from a 150 plus applicants are BNP Paribas, Deutsche Bank, Goldman Sachs and Macquarie Bank.
By Joel Scanlon
27 Feb 2011