Barrick to Acquire 70% Interest in El Morro Project

Barrick Gold Corporation announced that it has entered into an agreement with Xstrata Copper Chile S.A. (“Xstrata”), a wholly owned subsidiary of Xstrata Plc, to acquire Xstrata’s 70% interest in the El Morro project for $465 million in cash. El Morro is an advanced gold-copper project located in the Atacama Region in Chile. As reported by Xstrata, total measured and indicated gold... 

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Minera Andes initiates exploration on 100%-owned targets in Argentina

Minera Andes Inc. announce exploration plans for two principal areas in Argentina. 1) Santa Cruz province where the Corporation’s San Jose mine is located and 2) San Juan province, site of the Corporation’s recent Los Azules copper discovery. The target in Santa Cruz province is high-grade epithermal gold-silver mineralization. In San Juan province porphyry-style copper mineralization is... 

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Xstrata Copper’s Kidd Metallurgical Facility and Union Reach Agreement in Principle

Xstrata Copper Canada is pleased to announce it has reached a tentative agreement with the Union Executives of CAW-Local 599 for the renewal of the collective agreement at the Kidd Metallurgical site. Kidd Metallurgical employees are expected to vote on the agreement on November 6, 2008. The collective agreement expired on September 30, 2008 at midnight and the CAW has been on strike since October... 

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Happy Creek Provides an Update on the Company

Happy Creek Minerals Ltd. wishes to provide a general update on the Company’s status. Happy Creek Minerals was designed from the beginning to minimize investment risk and maximize return potential. The Company currently has $1.90 million of cash in the bank, and is taking steps to minimize overhead expenditures while continuing to perform low-cost exploration on its projects. The Company’s... 

Wallbridge Mining Initiates Drilling on Parkin Offset Dyke

Wallbridge Mining Company Limited announced that its $5 million joint venture with Impala Platinum Holdings Limited has received the necessary South African Reserve Bank approvals and drilling has been initiated on the Parkin Offset Dyke Properties in Sudbury, Ontario. Drilling has been started with two drills, and a total of over 8,000 metres of diamond drilling is planned between now and March 2009.... 

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Wallbridge Mining Discovers Porphyry Gold-Copper Mineralization on BC Property

Wallbridge Mining Company Limited has discovered mineralization within three target areas on their Rogers Creek copper-gold-molybdenum property, in south-western British Columbia approximately 40 kilometres south of Pemberton. The first two targets are defined within a 6 by 2 kilometre area of alteration and gold-copper mineralization with samples in quartz-sulphide veins returning up to 23.1 grams... 

Wallbridge Mining Signs $5M Joint Venture with Impala Platinum on Parkin Offset Dyke Properties in Sudbury

Wallbridge Mining Company Limited announced that it signed a joint venture agreement with Impala Platinum Holdings Limited (“Impala”), the world’s second largest primary platinum producer, on its Parkin Offset Dyke Properties in Sudbury, Ontario. Under the terms of the joint venture agreement, Impala will spend $5M over three years to earn a 50% interest in the properties. Impala... 

Xstrata Copper Announces C$121 Million Investment to Extend Kidd Mine

Xstrata Copper announces investment of C$121 million to deepen and extend the life of the underground Kidd Mine located in the Timmins area of Northern Ontario, Canada. Already the world’s deepest copper and zinc mine, the latest project will extend the mining zone at Mine D from 9,100 feet to 9,500 feet, improving the production profile from the mine through the addition of 3.4 million tonnes... 

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Xstrata, Chubu agree 125% thermal coal price rise

Xstrata, the world’s largest thermal coal exporter, has settled thermal coal contracts with Japan’s Chubu Electric for the business year starting this month at $125 a tonne, up 125 percent, a source close to the deal said on Monday. The settlement price compares with last year’s $55.65, based on Xstrata Plc’s final settlement price with a group of Japanese utilities. The contracts... 

BHP invests $975 million in South Africa coal project

Global mining giant BHP Billiton(BHP.AX)(BLT.L) said it plans to invest $975 million to upgrade and expand its thermal coal mines in South Africa to sustain coal exports amid soaring coal prices. BHP approved an investment plan to develop new coal reserves across its Douglas and Middleburg collieries in South Africa and build a coal processing plant with a capacity of 14 million tonnes a year, Melbourne-based... 

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