Indonesian lawmakers pass new mining law
Indonesian lawmakers passed a new mining law Tuesday that will give the mineral-rich nation greater control over its resources, though analysts warn it could deter investment by multinational corporations. Indonesia has some of the most abundant reserves of coal, copper, gold, tin and nickel and in the world has lured mining giants like Newmont Mining Corporation, Freeport-McMoran Copper & Gold...
Nuinsco and Temex Report Uranium Exploration Results, Diamond Drilling Underway
Nuinsco Resources Limited and partner Temex Resources Corp. announced positive results from the fall surface exploration program conducted on the Marijane Lake and Huston Lake Uranium Properties. Drill testing of select anomalies is now underway. Commented Ian Campbell, President and CEO of Temex: “We are very encouraged by the results of the fall program conducted to follow-up on the numerous...
Capella Announces Results on Labrador Copper-Nickel-Cobalt Exploration
CAPELLA RESOURCES LTD. announce assay results from the 2008 sampling program on its Labrador Base Metals Initiative. The company is actively exploring for nickel, copper, cobalt and other metals in central Labrador. Labrador is largely underexplored and hosts several new nickel and base metal discoveries, including Voisey’s Bay nickel-copper-cobalt deposit. The Property was flown by a wide-ranging...
Entree Commences Drilling at Lordsburg, New Mexico
Entree Gold Inc. has commenced drilling on the western target at the Lordsburg, New Mexico copper-gold porphyry project. The Lordsburg project is located within a southeast-trending belt which hosts several large current and past copper producers, including Freeport McMoran’s Morenci, Tyrone, Chino and Safford operations. The budgeted drill program is planned to include 2,700 metres (8,850 feet)...
NovaGold Sells Ambler Project and Early Stage Base Metal Properties to Mantra Mining For $20 Million in Shares
NovaGold Resources Inc. announced that it has reached a binding agreement to sell its interest in the Ambler Option Agreement, representing up to a 51% interest in the Ambler copper-zinc polymetallic project, along with its early stage base metal properties in Alaska for $20 million in common shares of Mantra Mining Inc.. Under the agreement Mantra will issue 6.25 million common shares having a current...
Wits Basin Signs Iron Ore Definitive Purchase Contract
Wits Basin Precious Minerals Inc. announce the signing of purchase contracts for the acquisition of a producing iron ore mine, a separate, nearby drill-indicated iron ore resource, and a processing plant located near Maanshan, Anhui Province in the People’s Republic of China. The producing mine and the drill-indicated resource total more than 94 million tonnes of magnetite iron ore. The processing...
The Rio Tinto Plc Company Profile Comments on the Company’s Outlook for the Forthcoming Periods Both on Strategic and Financial Point of Views
Research and Markets has announced the addition of the “Rio Tinto Plc – Company Profile” company profile to their offering. Company Profile will assists individual investors, managers and companies in evaluating opportunities, trends, market innovations, and selecting appropriate information solutions in order to make effective decisions. The report has been made after extensive research...
Maaden launches biggest mining IPO
State-owned Saudi Arabian Mining Company (Maaden) yesterday launched an initial public offering to raise 9.25 billion riyals ($2.47bn) in the Middle East’s biggest mining IPO, valuing the firm at $4.9bn. Maaden plans to sell 462.5 million of stock – equivalent to 50 per cent of its share capital – at 20 riyals each with subscriptions closing on July 14, according to the bourse regulator,...
Rio Tinto lodges mining lease applications for Bunder diamond project in India
Rio Tinto lodged mining lease applications for its Bunder diamond project in India in a move it called a vital step in the development of what could be the first significant world class diamond mine in the country. Rio Tinto announced the exploration target for diamond mineralisation at the Bunder project of 40-70 million tonnes at a grade of between 0.3 and 0.7 carats per tonne. The targeted diamond...
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 the face of increased iron ore prices. Iron ore is...
Latest Mining News
Philex Gold Receives Interim Order for Transaction With Philex Mining Corporation
Philex Gold Inc. announced that it has obtained an interim order from the Ontario Superior...
American Mining Corporation Signs LOI to Form Production Joint Venture on Terra Gold Project, Alaska
American Mining Corporation announce that it has signed a binding letter of intent to enter...
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