Iron Ore Mining

New Mineralized Extension at LIMs Houston Deposits Increases Houston Resource to 20 Million Tonnes

Labrador Iron Mines Holdings Limited is pleased to report a new resource estimate for its 100% owned Houston deposits located in western Labrador following the 2010 exploration drilling program. The new resource estimate of 19,499,000 million tonnes of measured and indicated resources represents a significant increase over previous estimates. Commenting... 

Rio Tinto payout tops estimates, unveils $5 billion buyback

Rio Tinto surprised investors by more than doubling its full-year dividend and promising to return $5 billion to shareholders over the next two years to soak up bumper cashflows after it reported a record second-half profit. The size of the buyback and the target for completing it by 2012 was not good enough for some investors, who were hoping for more... 

Alderon Intersects 29% Iron Over 608 Meters

Alderon Resource Corp. is pleased to announce the final set of assay results from the completed 2010 drill program on the 100% owned Kamistiatusset (“Kami”) Iron Ore Project in western Labrador. Results have been received for the Central Rose Zone, which will be included in the upcoming resource estimate, as well as the North Rose Zone,... 

Riversdale unanimously backs Rio Tintos $3.9 billion bid

The board of Africa-focused coal miner Riversdale, including a representative from top shareholder Tata Steel, unanimously backed a $3.9 billion takeover offer from Rio Tinto, Riversdale said on Monday. Riversdale, coveted for its coking coal projects in Mozambique, said it was unaware of any other takeover offers in the works, even as an Indian state... 

Soltoro Resumes Drilling at El Rayo Primary Silver Project in Mexico

Soltoro Ltd. has resumed diamond drilling at the El Rayo Primary Silver Project in Jalisco, Mexico. The 5,000 meter drilling program is designed to test the Las Bolas silver deposit at depth and in-fill between some of the shallower holes. The first deep hole is intended to intercept mineralization 100 meters down dip from drill hole Ray10-46. This... 

Alderon Confirms Iron at Mills Lake with 30% Iron Over 193 Meters

Alderon Resource Corp. is pleased to announce assay results from the completed 2010 drill program on the 100% owned Kamistiatusset (“Kami”) Iron Ore Project in western Labrador. These results are from the southern portion of the project, known as the Mills Lake Zone. All 15 drill holes at Mills Lake intersected iron mineralization and collectively... 

PolyMet Loan From Iron Range Resources Approved

PolyMet Mining Corp. announced that the Board of Iron Range Resources (“IRR”) has, on the commissioner’s recommendation, approved a secured loan to PolyMet of up to $4 million. The IRR board is composed of five members of the Minnesota Senate, five members Minnesota House of Representatives and three citizen members. The loan agreement... 

Consolidated Thompson Enters Into A New US$250 Million Revolving Credit Facility

Consolidated Thompson Iron Mines Limited announced that it has entered into a new US$250 million senior secured revolving credit facility with a syndicate of banks comprised of Bank of Montreal, Canadian Imperial Bank of Commerce, Royal Bank of Canada, WestLB AG, New York Branch and Desjardins. This facility has a maturity of December 2014 and can be... 

Northland Appoints Banks for Project Financing

Northland Resources S.A. announce that the Company has appointed and retained leading global mining finance and investment banks – Societe Generale, UniCredit Bank AG and WestLB AG as exclusive Mandated Lead Arrangers in the proposed project financing of the Kaunisvaara Iron Concentrate Project. The Facility will be subject to each Mandated Lead... 

Palladon Ventures Enters Into Letter Agreement With Luxor Capital Partners, LP

Palladon Ventures Ltd. announce that effective immediately the Company and Luxor Capital Partners, LP (“Luxor”) have entered into a letter agreement (the “Letter Agreement”), subject to TSX Venture Exchange approval, to the extension agreement dated June 26, 2009 and to the standstill agreement dated October 15, 2009. The Letter...