Aluminium
Copper prices lower on credit concerns
by Elaine Frei
Copper prices were lower Tuesday on concerns that credit market problems will slow economic growth, which could cut demand for metals.
September copper, which was also hurt by a stronger dollar that made investors worry less about inflation, was down 15 cents to $3.70 per pound in New York while three-month copper dropped $227 to $8,185 […]
US Gold provides update on Mexico exploration
by Tara Malhotra
US Gold Corporation, a United States based gold exploration company exploring throughout north-eastern Nevada, has recently began exploration in Mexico and has encountered encouraging gold mineralisation during recent drilling at the Magistral Mine, located in Sinaloa State, in Mexico.
The company said that drilling designed to expand the mineralisation around the Samaniego Pit returned 0.199 ounces […]
Iluka gets approval for development of Jacinth-Ambrosia project
by Tara Malhotra
Iluka Resources Limited, an Australian Stock Exchange listed resources company involved in the exploration, project development, operation and marketing of mineral sands, has received South Australia’s government approval for its application for the grant of a mineral lease, two miscellaneous purposes licences and an extractive minerals lease for mining, processing and associated infrastructure at the […]
Sacre-Coeur adds seven new target zones at Million Mountain
by Tara Malhotra
Sacre-Coeur Minerals, Ltd., a mining company engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, has identified at least seven new highly prospective targets for gold mineralisation in addition to Zone 1 on the Million Mountain Block located in Central Guyana, South America. […]
Aluminium prices up on China power cuts
by Elaine Frei
Aluminium prices in London were higher Monday on reports of power shortages at smelters in northern China which cut output there.
The cuts, which affect nearly 5 percent of China’s aluminium output, came on government orders so that farmers in the region will have enough power to operate.
In late afternoon trade in London, aluminium was trading […]
Murchison abandons merger with Midwest
by Gill Montia
Murchison Metals, the Australian iron-ore miner, has reported that its proposals for a merger with Midwest have been abandoned.
The company has been in further discussion with Sinosteel, which owns 45.6% of Midwest, and says it has been unable to secure the Chinese group’s support for the proposal on acceptable terms.
Murchison’s executive chairman, Paul Kopejtka, believes […]
IAMGOLD reports increase in Mupane’s mineral reserves
by Tara Malhotra
IAMGOLD Corporation, a mid-tier gold producer with annual production of close to 1 million ounces from eight different gold operations located in North America, South America and Africa, provides an update on the increase in mineable mineral reserves at its Mupane Mine, located in Botswana.
The company’s efforts to convert the operation to owner mining […]
Pelangio reports increase in mineral resources at Detour Lake
by Tara Malhotra
Pelangio Mines Inc., a Canadian junior gold exploration company, on behalf of Detour Gold Corporation, reports an updated National Instrument 43-101 compliant mineral resource estimate for its Detour Lake gold project in northern Ontario. Pelangio holds 44.6% stake in Detour Gold.
Based on a detailed engineered pit design, Detour Gold Corporation reported an increase […]
Goldcorp updates on Marlin power supply interruptions
by Tara Malhotra
Goldcorp Inc., a Canada based gold mining company with the strongest production growth profile, says that the Marlin mine in Guatemala has been hit by power interruptions, resulting in periodic idling of the mill facility.
However, the company said that power interruptions has not affected the mining activities at the underground and open pit and […]
VMS Ventures provides drilling results
by Tara Malhotra
VMS Ventures Inc., a Canada based mining company, which is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon Snow Lake VMS Belt, reports on its ongoing exploration program at the Reed Lake Discovery Zone near Snow Lake, Manitoba.
Drilling results suggests that short copper-zinc mineralised intervals are present in RD-08-25, RD-08-40 […]
Gold Hawk announces non-brokered private placement
by Tara Malhotra
Gold Hawk Resources Inc., a Canadian based precious and base metals producer with reserves and resources containing gold, silver, lead, zinc and copper, has undertaken a non-brokered private placement of up to 55,000,000 common shares at a price of $0.06 per share for gross proceeds of $3,300,000.
The private placement is subject to regulatory approval. […]
Anaconda provides updates on the Pine Cove gold mine
by Tara Malhotra
Anaconda Mining Inc., a Canada-based mining company with a portfolio of advanced-stage exploration projects in Canada and South America, provides an update on start-up of its Pine Cove Gold Mine, located near Baie Verte, Newfoundland.
The company is focusing on optimisation of the mill and operator training. The company is now operating the back end […]
Copper prices down on US jobs data
by Elaine Frei
September copper dropped 11 cents to $3.95 per pound in New York on Thursday after the US Labor Department reported that 62,000 non-farm jobs were lost in June and that new jobless claims were up last week.
Prices were also pushed lower by comments from European Central Bank president Jean-Claude Trichet that indicate there will be […]
East Asia extends Binebase Oxide Gold Mineralisation
by Tara Malhotra
East Asia Minerals Corporation, an Asian-based, Canadian mineral exploration company with gold and copper exploration properties in Indonesia, provides drilling results at its Binebase Project located on Sangihe Island, Sulawesi, Indonesia.
The company said that the recent infill and extension drilling results, including 39.0 metres of 1.06 g/t gold, at the Binebase project has extended the […]
Linear provides drilling results at the KM61 project
by Tara Malhotra
Linear Metals Corporation, a junior explorer focused on molybdenum, copper, silver and zinc projects in Canada and Mexico, provides recent drill results in the Main Zone, with expansion scale of its KM61 discovery.
Providing details of the drilling, the company said that at a cut-off of 0.04% molybdenum, the combined mineralised zones (Main and Southwest) now […]
Central Sun provides operations update
by Tara Malhotra
Central Sun Mining Inc., a gold producer with mining and exploration activities focused in Nicaragua, provides an update on its exploration and operations activities.
Encouraged with the initial results at Limon Mine area, the company continued drilling on the new Santa Pancha southern extension, which has the highest grade within the Limon Mine area deposits. The […]
Copper prices in new highs in New York, London
by Elaine Frei
Copper prices set new records in both New York and London Wednesday as strikes in Peru threatened to spread even though the government said that they were illegal, and even though production has not yet been much affected in the third day of walk-outs.
The weaker US dollar and higher oil prices also pushed prices higher.
In […]
Gold, silver advance as platinum, palladium prices drop
by Elaine Frei
Precious metals prices were mixed Wednesday in New York after the dollar weakened again and crude oil set new prices records.
August gold added $2 to $946.50 per troy ounce while September silver gained 14 cents to $18.43 per troy ounce, but October platinum dropped $11.70 to $2,077 per troy ounce and palladium fell $2.05 to […]
Metso to supply mining equipment to Anglo American-MMX
by Tara Malhotra
Metso Minerals, a global engineering and technology corporation, has won a contract to supply crushing, screening and feeding equipment to Anglo American-MMX for its Minas Rio Project located in the Minas Gerais state in Brazil.
The contract valued at €7 million is likely to be completed by the end of 2009.
The order, which includes […]
Gold Resource provides updates on El Rey
by Tara Malhotra
Gold Resource Corporation, a mining company which has a 100% interest in four potential high-grade gold and silver properties in Mexico’s southern state of Oaxaca, reports 5 meters of 45.24 g/t (1.45 oz/t) gold at El Rey.
El Rey, which is one of 4 properties in the state of Oaxaca, is being evaluated for accelerated […]