Platinum Exploration Projects Update New Large Funded Joint Venture With JOGMEC
Platinum Group Metals Ltd. provides the following updates on its platinum projects including a second new joint venture with Japan Oil Gas and Metals National Corporation (“JOGMEC”), owned by the government of Japan, covering a new 118 square kilometres platinum exploration area. R. Michael Jones, President of Platinum Group Metals, said, “Our main focus right now is on advancing...
New Dawn Mining to Focus on Zimbabwe Turk Mine Expansion, Exploration and Consolidation Strategy
New Dawn Mining Corp. reports that in light of substantial opportunities now present in Zimbabwe, New Dawn intends to focus exclusively on expanding output at its Turk and Angelus Mine in Zimbabwe, furthering exploration on its options claims in Zimbabwe, and pursuing acquisition opportunities in Zimbabwe that are value accretive. In pursuing its Zimbabwe focused growth strategy, management has determined...
Blanket Mine Commences Production and Export of Gold
Caledonia Mining Corporation announces the production and export of approximately 766 ounces of fine gold from the Blanket Gold Mine in Zimbabwe, following resumption of production in early April 2009. As advised in the press release dated April 3, 2009, Blanket received the necessary licenses from the Ministry of Finance and the Reserve Bank of Zimbabwe which, under the new Monetary Policy in Zimbabwe,...
New Dawn’s Turk Mine in Zimbabwe Resumes Full-Scale Mine Operating Program
Ian R. Saunders, President and CEO of New Dawn Mining Corp. announced that New Dawn’s 100% wholly-owned Turk Mine in Zimbabwe has resumed full-scale mining operations. The current initial production rate of 250 tonnes per day should result in approximately 700 to 750 ounces of gold being produced monthly at an average cash cost of approximately US$500 to US$550 per ounce. Over the next several...
Significant Monetary Policy Changes Announced in Zimbabwe
New Dawn Mining Corp. commented on the recent Monetary Policy Statement released by the Governor of the Reserve Bank of Zimbabwe (“RBZ”) and the encouraging impact that the new policy statement potentially has to New Dawn’s mining operations in Zimbabwe. In general, the proposed changes detailed in the new MPS are far reaching and are expected to have a significant and positive impact...
New Dawn Mining Corp. Provides Update on Operations in Zimbabwe
New Dawn Mining Corp. reported that it has determined to suspend gold production at the Turk Mine in Zimbabwe and place the mine on temporary “care and maintenance” effective October 3, 2008. This action was taken as a result of the continued non-payment of amounts receivable for the sale of gold to the Reserve Bank of Zimbabwe, as well as excessively high operating costs caused by unrealistic...
HTX Minerals Corp Forms Strategic Alliance with Impala Platinum
HTX Minerals Corp announce that it has entered into a strategic alliance with Impala Platinum Holdings Limited, the world’s second largest primary platinum producer. The alliance will focus on PGE-Nickel exploration in Ontario, Canada. Under the terms of the strategic alliance agreement, Implats will fund $900,000 towards HTX’s Nickel-Copper-PGE Ontario project generation activities over...
Zimbabwe: Oil Price Hampers Efforts to Contain Inflation
South African Reserve Bank governor Tito Mboweni said the price of oil is unlikely to drop any time soon, hampering efforts to contain inflation and adding to pressure for higher interest rates. “On the inflation picture, what is of serious concern is that it doesn’t seem like oil prices are going to be of assistance to us for a while,” Mboweni told lawmakers in Cape Town yesterday. “Things...
Caledonia Mining Accepts Offer of C$3.81 Million for Eersteling Gold Mine
Caledonia Mining Corporation is pleased to announce it has accepted an offer for the purchase of the entire issued share capital of Eersteling Gold Mining Company Limited (“Eersteling”) in South Africa by a private Canadian company for C$3.81 million. The offer is to be settled in cash on or before July 31, 2008 and a refundable deposit of C$0.4 million is to be placed in trust upon signing...
Uganda: Among Top Mineral-Rich Nations
UGANDA is endowed with over 50 minerals, ranking it among the countries in Africa with the biggest number of minerals, the assistant commissioner in charge of geology has said. “Uganda’s metallic and non-metallic minerals are over 50 in number. But there are many unknown minerals whose existence shall be made known after completion of the two ongoing airborne geo-physical surveys, covering...
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