Polyus Gold OJSC has acquired an exploration and mining license in the Apsakanskaya prospect in the Amur Region, the Company says.
The license was bought by Polyus CJSC, a subsidiary of Polyus Gold, upon the auction held on November 17, 2006. The once-only payment for the subsoil use totaled RUB 6.3 mln following the results of [...]

Western Goldfields, Inc. announced the Board of Directors has approved capital expenditures for the mining fleet totaling $67.0 million and has issued purchase orders totaling $60.9 million. All currency amounts are in U.S. dollars.
The initial mining fleet includes 11 Terex 190-ton haul trucks, two O&K RH340 shovels, a Letourneau 1350 loader, and Caterpillar ancillary equipment. [...]

Magnus International Resources, Inc. announced today that it has entered into a letter of intent to acquire African Mineral Fields, a company which holds an exclusive option to acquire 100% interests in four gold projects in Uganda. The acquisition comes as part of Magnus’ decision to expand its mineral portfolio into Africa, which holds 55% [...]

Canadian stocks fell for a second day after a report showing an unexpected increase in U.S. oil supplies reinforced concern that profits at energy companies including Talisman Energy Inc. will slow.
“We keep seeing reports that the world seems to be awash in excess crude oil floating around,” said Fred Ketchen, director of equity trading at [...]

Toronto’s main stock index pointed to a higher start on Thursday, as a jump in crude oil and natural gas prices could lift shares of energy producers, which make up about a third of the resource-driven index.
In the oil patch, EnCana Corp. will be in the spotlight after it said it would create a partnership [...]

STATE-RUN Natural Resources Mining Development Corp. (NRMDC) is seeking a joint venture partner to develop a mining project in the Mount Diwalwal gold rush area in Mindanao.
NRMDC, a unit of the Department of Environment and Natural Resources, plans to auction the project before yearend, or as soon as it completes a feasibility study detailing the [...]

In Ghana, mining companies are being forced to cut energy use by 50 percent to help the country through its worst energy crisis in nine years. The country’s bulk electricity supplier, the Volta River Authority, says the cuts in the mining industry are needed as part of a nationwide power-rationing program. The cuts are expected [...]

Gold Fields, the world’s fourth-largest gold producer, said Monday that it planned to pay at least $2.5 billion for the world’s biggest deposit of gold ore, increasing its reserves by about half as new mines become harder to develop.
Gold Fields, based in Johannesburg, said it had agreed to pay Barrick Gold $1.53 billion for its [...]

Shares of Newmont Mining Corp. sagged Thursday as the price of gold faltered and an analyst lowered his rating on the gold producer’s stock.
The December gold contract dropped $17.30 to $624.50 an ounce at midday on the New York Mercantile Exchange. Sector-wide, shares of gold producers retreated along with the metal.
Newmont Mining Corp. shares fell [...]

Production resumed at Latin America’s biggest gold mine, in northern Peru, after management agreed to talks and protesters defending their water supply lifted road blocks.
The inhabitants of Combayo stopped their protest “as a good will gesture to reach a peaceful and equitable solution to the controversy,” cabinet chief Jorge del Castillo told reporters late Wednesday.
Production [...]