Rapidly growing South African mid-tier miner, Metorex Limited, has clinched a deal that would increase its stake in the Chibuluma South Mine Limited on the Zambian Copperbelt.
Metorex chief executive officer Charles Needham said in a brief emailed statement on Friday that the miner would acquire the Industrial Development Corporation (IDC)’s 35 per cent interest in [...]

Geograce Resources Philippines Inc said its nickel assets will increase following its recent signing of a memorandum of agreement with Garnierite Mining Inc to acquire 100 percent of the issued and outstanding capital stock of the latter’s nickel mine rights in Palawan.
Geograce told the stock exchange it has offered Garnierite a share-for-share or property-for-share swap [...]

The Canadian-owned Rosebel gold mine in Suriname has been temporarily shut down after striking workers allegedly flooded part of the plant, welded shut some gates and doors, and damaged 17 all-terrain vehicles, a company official said Thursday.
A number of workers began the strike one week ago at the mine, located about 60 miles south of [...]

Mid-west iron ore companies have welcomed the Western Australian Government’s commitment to complete a new berth at the Geraldton port by the end of the year.
Berth five is expected to boost iron ore shipment capacity out of the port from almost five million tonnes to about 15 million tonnes per year.
Mining companies are currently using [...]

Mitsui & Co Ltd. 8031.T, Japan’s second-biggest trading house, said on Thursday it would spend $284 million on expanding iron ore export capacity at Australia’s Cape Lambert port, in response to strong global demand.
The port’s capacity will be expanded to 80 million tonnes of ore annually from 55 million tonnes.
The investment is owned by [...]

Rio Tinto Group, the world’s third- largest mining company by sales, may say second-half profit rose 19 percent to a record as commodity prices soared last year and iron-ore production grew.
Net income advanced to $3.72 billion in the six months ended Dec. 31, from $3.03 billion a year earlier, according to the median estimate of [...]

Iron ore miner MSPL Ltd. is planning an initial public offering to fund iron ore mine takeovers and buyouts of iron ore mining companies in India and abroad, a senior official said.
“We are interested in buyouts of good firms in India and abroad,” Narendrakumar Baldota, chairman and managing director, told Reuters on Thursday.
The company has [...]

GOLD prices have again started moving up after remaining stable for a few days. Yesterday 24-carat gold closed at QR79.50 a gram in the local market. Twentytwo-carat gold closed at QR73.50 a gram while for 10 tolas (116gm) the price was QR8,950 yesterday.
Industry sources said despite the rising prices the gold sales had been brisk. [...]

Temex Resources Corp. is pleased to announce results from a Phase I drilling program completed on its wholly-owned Gowganda Silver Project (”the Property”). The Property contains the Miller Lake O’Brien Silver Mine, the largest past producing Cobalt-style silver mine outside of Cobalt, Ontario. It was operated by Miller Lake O’Brien Mines (1910-1944) and later by [...]

Tulsa-based Helmerich & Payne Inc. reported record profits Thursday for its first fiscal quarter, driven by strong demand for its drilling rigs and substantial investment income.
The company had net income of $110.79 million, or $1.06 per diluted share, from operating revenue of $386.4 million for the quarter that ended Dec. 31.
That compares with net [...]