Aluminium
Copper gains as other metals prices decline
by Elaine Frei
Copper prices bucked a declining trend among metals, rising 3 cents to $3.91 per pound in New York and finishing the day even at $8,540 per tonne in London after going as low as $8,465 per tonne earlier in the session.
Prices were supported by a report from one Chilean mine that showed first quarter output […]
Iron Road launches IPO and acquires Warramboo project
by Gill Montia
Iron Road Limited, the Australian iron ore exploration company formed at the end of last year, has launched an Initial Public Offering comprising 25 million shares at 20 cents per share.
The firm has already secured private equity investment from Sentient Group, which will hold 19.9% of the issued stock upon listing.
Shortly after listing, Iron Road […]
Metso to supply copper ore processing system to Zinkgruvan Mining AB
by Tara Malhotra
Metso Minerals will supply a complete processing system for copper ore beneficiation to Zinkgruvan Mining AB for its mine in Southern Sweden.
The delivery will be completed during the last quarter of 2009. The value of the order is approximately EUR 16 million.
Metso’s delivery covers the primary and secondary crushing stages, grinding, flotation and pressure […]
Aurelian suspends drilling as required by the Ecuador mining mandate
by Tara Malhotra
Aurelian Resources Inc. announced that the Company is obliged by order of the Mining Mandate to reduce its operations and workforce.
The previously announced Mining Mandate, effective April 18, 2008, ordered a halt to mining activities on concessions, including drilling, exploration and development.
We profoundly regret the impact the Mining Mandate will have on our employees, […]
AmMex 2,000 meter drilling program underway
by Tara Malhotra
AmMex Gold Mining Corp. announces that its 70% owned joint venture with EXMIN Resources has commenced a 2,000 meter first pass drilling exploration program on the 7,767 hectare Concha concession in the Melchor Ocampo district in Zacatecas, Mexico.
Layne Drilling de Mexico is contracted to conduct the 2,000 meter drill program which is planned to test […]
Copper, precious metals down as USD gains
by Elaine Frei
Copper prices dropped Tuesday as fewer investors looked to commodities as a safe place to put their money in the face of fears that inflation will rise as the US dollar strengthened in relation to the euro.
Prices declined even though London Metal Exchange stockpiles dropped 0.6 percent on the session, to their lowest level since […]
Asia Now Resources partner with Yunnan Dasheng Investment Co.
by Tara Malhotra
China based Asia Now Resources Corp. has signed a memorandum of understanding to establish a strategic exploration and mining partnership with Yunnan Dasheng Investment Co. Ltd., a subsidiary of the Lippo Group.
The Lippo Group is a $12-billion Asian financial conglomerate that has been frequently compared in mainstream international press to the famous Rothschild empire.
Under this […]
First Metals declares commercial production at the Fabie Mine
by Tara Malhotra
First Metals Inc. has achieved commercial production as of March 1, 2008 at the Fabie Bay Mine.
During the month of March, 44,500 tonnes of copper ore, grading 2.56% Cu were mined and trucked from the Fabie Bay Mine near Rouyn-Noranda, Quebec.
In March, 42,000 tonnes were milled at the Xstrata Horne mill and smelter facilities. […]
Altius’s labrador iron ore exploration commences
by Tara Malhotra
Altius has commenced its 2008 iron ore exploration program in the Labrador West mining district in eastern Canada.
Exploration will focus on the Kamistiatusset project as well as additional iron ore prospects recently acquired within the district. Concurrent with these efforts, Altius will be evaluating joint venture and financing proposals from third parties regarding these […]
Gold adds $6 on oil prices
by Elaine Frei
Precious metals prices were higher on Monday.
June gold added $6 to $895.70 per troy ounce in New York as crude oil hit a new record high at $119.93 per barrel, sending investors looking for safe places to put their money as inflation threatened.
The gain came after gold dropped 2.8 percent last week as the US […]
Galaxy reports on West Kundip manganese prospect
by Gill Montia
Galaxy Resources, the Western Australian mineral exploration company, has announced the results of an initial review and site evaluation of manganese mineralisation at its West Kundip prospect.
The site is located between the Archaean Ravensthorpe Greenstone Belt and Proterozoic Mt Barren Group, which is about eight kilometres south of Ravensthorpe, Western Australia.
The company has reported […]
Salazar Resources provides Ecuador update
by Tara Malhotra
Salazar Resources Ltd. reports on recent activities in Ecuador.
On Friday April 18, 2008 Ecuador’s Constitutional Assembly passed a new mining Mandate which is not yet part of the proposed Constitution, but has the effect of a new law. The Company is actively engaged in meetings and discussion with the Ecuadorian Government to get a better […]
Lero updates on Karchiga Copper VMS project
by Tara Malhotra
European Minerals Corporation (EMC) and Lero Gold Corp. have entered into a binding heads of agreement pursuant to which EMC will acquire all of the outstanding common shares of Lero in exchange for common shares of EMC pursuant to a plan of arrangement (the “Acquisition”). The directors of EMC and Lero believe that the Acquisition […]
Wildcat announces non-brokered private placement
by Tara Malhotra
Wildcat Exploration Ltd. has arranged, subject to regulatory approval, a non-brokered private placement to raise up to $1 million by issuing up to 10 million shares in a combination of flow-through common shares and non- flow through units.
The flow-through common shares (Flow-Through Shares) will be issued at $0.10 per share, and the units (Units) will […]
Golden Share Mining hires new CFO
by Tara Malhotra
Golden Share Mining Corporation announces the appointment of Mrs. Isabelle Gauthier to the position of Chief Financial Officer. Mrs. Gauthier brings over 12 years of experience in financial accounting and auditing.
Mrs Gauthier, completed a B.A. in Administration from Universite du Quebec a Montreal (UQAM) and is member of the Ordre des Comptables Agrees du Quebec […]
Additional high grade gold potential at depth at Imwauna
by Tara Malhotra
Compilation and assessment of drill hole results from the Imwauna Project, Normanby Property, Milne Bay Province, Papua New Guinea, has defined two significant targets for high grade mineralisation at depth (50 to 150m) below the drilled mineralisation.
This compilation has been carried out as part of the resource estimate, which is in progress.
Drilled […]
Sentry files preliminary prospectus for 130/30 mining
by Tara Malhotra
Sentry Select Capital Corp. announces that a preliminary prospectus for 130/30 Mining LP (the “Partnership”) has been filed with, and a receipt therefore issued by, the securities regulatory authorities in each of the provinces and territories of Canada. The Partnership will issue Class A Units and Class F Units (collectively, the “Units”).
Cash option: Prospective purchasers […]
Ghana to review mining laws
by Gill Montia
Ghana, the West African republic that is often cited as a model of economic development on the continent, is set to review its mining laws.
The country’s mining minister, Esther Obeng Dapaah, is keen to increase the benefit the state receives from mineral resources, describing current tax revenues from the sector as minimal.
Ghana is Africa’s second-largest […]
Mega and Forum complete winter drill program
by Tara Malhotra
Mega Uranium Ltd. announces that the winter drill program has been completed on the Maurice Point property, which is under option from Forum Uranium Corp. (Forum) where Mega can earn a 55% interest in the project by spending $8 million over three years. Forum is the operator.
Drilling was successful in intersecting a major fault zone […]
Lundin revised capital cost projections on Tenke project
by Tara Malhotra
Lundin Mining Corporation reports that Freeport McMoRan Copper and Gold Company (Freeport ) has advised of further capital cost increases on the Tenke Project, which is under construction in the Democratic Republic of Congo (DRC).
The Company holds an effective 24.75% equity interest in the Tenke Project. Freeport holds an effective 57.75% interest and is […]