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Random News from Mining Top News

Diavik Diamond Mine first quarter update

Diavik Diamond Mines Inc. (DDMI), operator of the Diavik Diamond Mine, is pleased to provide this first quarter update.
Diavik continued to build on its strong safety record with zero lost time injuries, two medical treatments and an all injury frequency rate of 0.37 during the first quarter of 2008. DDMI was notified that for its [...]

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South Africa: De Beers Buys More African Diamonds

DIAMOND giant De Beers had bought another 1,22-million shares in diamond exploration company African Diamonds for ã‚£2,1m to raise its stake to 5,96%, African Diamonds said yesterday.
The deal is insignificant in relation to the size of De Beers but underlines the group’s interest in African Diamonds’ findings, particularly in Botswana.
De Beers has a policy of [...]

Mineralogy announces partial take-over bid for Waratah Coal Inc.

Mineralogy Pty Ltd., a privately-held company based in Brisbane, Australia, is pleased to announce that it is offering to purchase, for $1.41 per common share in cash, that number of common shares of Waratah Coal Inc. that constitutes, when added to the Waratah common shares beneficially owned by Mineralogy or any of its affiliates, 50.1% [...]

Crew Gold Corporation: Take Over of Mining Works at LEFA

Crew Gold Corporation announces that its operating subsidiary at LEFA, Guinea has taken over the works being performed under its third party mining contract. The third party contract was expected to run for a further 27 months. The takeover was considered necessary to protect the open pit mining fleet. Good communication and a professional approach [...]

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US Offshore Gulf Oil, Gas Lease Sale Reaps Record $3.7 Billion

The U.S. Interior Department’s Gulf of Mexico oil and gas lease sales on Wednesday reaped a record $3.7 billion – the highest amount ever in a U.S. government lease sale – as oil prices hovered above $100 a barrel, the Minerals Management Service said.
Flush with cash from record crude prices, short on reserves replacement ratios [...]

Shanghai copper falls 4 pct on London losses

Shanghai copper futures closed 4 percent lower on Tuesday, tracking the previous day’s losses in London when profit taking dragged copper down 3.8 percent.
The most active April contract was down 2,370 yuan at 51,910 yuan ($6,679) a tonne at the close. Just before the closing bell, copper was at its downside limit of 51,900 yuan.
Copper [...]

Silver Star Energy Reports on MB Gas Well Testing at Manyberries Project, Alberta

Silver Star Energy, Inc. reports on the completion and testing results from three Sawtooth formation gas wells at the MB Gas Project, located in the Manyberries area of Alberta, Canada. Silver Star and MB Gas Inc., based on the recently announced participation by the Company under the loan agreement, are currently working to tie [...]

Hecla Announces Pricing of Offering

Hecla Mining Company today announced that it has set the price for its public offering of 31 million shares of common stock. The Company has granted the underwriters a 30-day option to purchase up to an additional 4 million shares of common stock to cover over-allotments, if any. The shares are being offered to the [...]

Smaller Chinese steelmakers will be able to hedge their costs

AUSTRALIAN iron ore producers, arguing for a freight premium to be included in this year’s contract prices with reluctant Chinese steelmakers, are expected to shrug off the emergence of a new iron ore exchange market created by Deutsche Bank and Credit Suisse.
The exchange gives smaller Chinese steel producers a chance to hedge their costs in [...]

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Oxiana mine a boon for near-by towns

Oxiana’s Prominent Hill gold and copper mine looks set to create a surge in business for airports and petrol stations in Coober Pedy, Port Augusta and other regional centres in South Australia.
The company says it could have up to 300 people working at the mine by the end of the year, but it will not [...]