International Minerals to be Included in Swiss Performance Index (SPI) on Swiss Stock Exchange
International Minerals Corporation announce that it has been accepted for inclusion in the Swiss Stock Exchange (“SIX”) prestigious Swiss Performance Index (the “SPI”), effective August 24, 2009. IMZ is currently the only precious metal mining company listed on the Swiss Stock Exchange and the first ever gold company to be included in the SPI. In addition, IMZ is one of only 11 foreign companies...
Constitution Mining Appoints New Chairman
Constitution Mining Corp. announces the appointment of Dr. Michael Stocker to serve as the company’s Chairman of the Board. The Board of Directors appointed Dr. Michael Stocker to serve as a member and Chairman of the board of directors. Dr. Stocker replaces Patrick Gorman as Chairman of the board of directors and Mr. Gorman will continue to serve as a member of the board of directors. Constitution...
Alba seeking $1bn payout from Alcoa
ALBA is seeking more than $1 billion (BD378 million) in damages from a US corporation it has accused of corruption, it has emerged. Court documents obtained by the GDN allege the company paid exorbitant prices for alumina, amounting to hundreds of millions of dollars and which continue to accumulate today. They state the ‘outrageous’ 15-year fraud was not discovered until last year because...
Bolivian President Evo Morales to Nationalize Swiss-Owned Mineral Processing Plant
President Evo Morales said Thursday he would nationalize a mineral processing plant owned by the Swiss mining company Glencore International AG, the first step of his plan to take control over a larger share of Bolivia’s mineral wealth. Morales did not state the terms under which his government would take over the Vinto plant on the outskirts of the city of Oruro, 110 miles southeast of La Paz. But...
Glencore and Washington Group bidding for Asarco copper mines and smelters
Swiss metals company Glencore, which earlier this year bought U.S. miner Asarco’s zinc operations, now wants to buy Asarco’s remaining copper and molybdenum mining and smelting operations, according to documents filed with a Corpus Christi, Texas, federal bankruptcy court. In a December 26th court filing, which was just made public by a Mexican investor, Glencore said it was forming a joint...
Swiss group takes over mining project in South Cot
A Swiss-backed mining group will takeover by April 2007 the management of the proposed large-scale copper and gold mining project of Australian mining firm Indophil Resources NL in the mountains of Tampakan, South Cotabato. Indophil announced this development Friday after Brisbane, Australia-based Xstrata Queensland Limited (Xstrata Copper) formally exercised its option on Thursday to acquire the 62.5-percent...
Congo mine lured suitor
Five months after it launched a failed bid to buy two of Canada’s largest metals producers, Arizona’s Phelps Dodge Corp. was itself swallowed by smaller rival Freeport-McMoRan Copper & Gold Inc., a $26-billion (U.S.) takeover that was driven in part by a promising African venture between Phelps Dodge and a small Vancouver company. The cash and stock deal, the richest so far in a furious...
European Mining Stocks, BHP Rise; Alcatel, GlaxoSmithKline Fall
European mining stocks rose as gold climbed to a two-month high in Asia and copper prices gained. Anglo American Plc and BHP Billiton, the world’s biggest mining companies, paced the advance. Alcatel SA led export stocks lower after the dollar dropped against the euro. GlaxoSmithKline Plc paced a decline by drugmakers for a third day. The Dow Jones Stoxx 600 Index rose less than 0.1 percent to...
Brazil’s CVRD wins Canada’s Inco to create top world nickel miner
Brazilian mining giant CVRD said it had won control of Canadian group Inco, creating the world’s second-biggest mining concern and the biggest nickel miner in a 15.8-billion-dollar deal. The announcement appeared to seal CVRD’s bid for Inco and came as big mining companies seek fresh supplies in a global contest over precious metals. Companhia Vale do Rio Doce (CVRD) said it had acquired...
Rusal announces 3-way merger
Russia’s OAO Rusal dethroned Alcoa Inc. as the world’s biggest aluminum producer Monday after announcing a three-way merger that will create a US$30 billion (€23 billion) giant with 12 percent of global output. The deal underscored the rise of Russia’s commodities-based industries, which have reaped the benefits of low costs and soaring world prices, as well as the ambitions...
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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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