Atlas Iron Bolsters Board In Preparation For Rapid Growth Phase

Atlas Iron is pleased to advise that it has made two key Board appointments as part of its preparations to grow iron ore production rate from 6Mtpa to as much as 46Mtpa.

Chief Commercial Officer Mark Hancock has joined the Board as an Executive Director.zenith crusher spares south africa The appointment reflects the central role played by Mr. Hancock in Atlas' corporate and trading transactions.

Mr. Hancock has been pivotal to Atlas' highly successful record of mergers, acquisitions and asset disposals. He is also on the front line of Atlas' iron ore sales activity, which has enabled the Company to consistently maximise its revenue and profit margins.

Mr. Hancock is a Chartered Accountant with over 25 years' experience. He commenced his career in public practice and subsequently held senior financial management roles across a variety of industries in Australia and South East Asia with companies including Woodside Petroleum, Premier Oil and Lend Lease.

Mr. Hancock joined Atlas in July 2006 as Chief Financial Officer and was promoted to his current role as Chief Commercial Officer (incorporating the CFO role).

His appointment means Atlas will now have three executive directors, including Executive Chairman David Flanagan and Managing Director Ken Brinsden. This will be reduced to two when Mr. Flanagan moves to the role of Non-executive Chairman in August 2012.

Atlas has also strengthened its Board with the appointment of Geoff Simpson as an independent Non-Executive Director.

Mr. Simpson is the Managing Partner of the Perth office of a first tier global law firm. He is also the Global Head of his law firm's Mining Group and a member of the Global Partnership Selection Committee.

Mr. Simpson advises on a wide range of matters in the energy and resources sectors including mergers and acquisitions, projects, corporate advisory and equity capital markets issues.

He is acknowledged in independent legal directories as a leader in Australia in the energy and resources sectors. He has held directorship in listed mining and energy companies and is a former national president of AMPLA, the resources and energy law association.

These important Board appointments are part of Atlas' preparations for significant growth, with its iron ore production rate forecast to increase from 6Mtpa currently to 12Mtpa by December 2013 and up to 46Mtpa by 2017.

Atlas' direct shipping iron ore projects are characterised by low capital expenditure and globally competitive operating costs, contributing to Atlas' ability to generate significant operating cash flows. As a result the Company is well positioned to fund its Pilbara growth objectives.

Atlas Chairman David Flanagan said Mr. Simpson would bring a wealth of corporate knowledge and experience to the Board.

"We are delighted to have secured the services of Geoff as Non-executive Director," Mr. Flanagan said. "His expertise will be invaluable as Atlas continues to execute strategy for rapid production growth."

Atlas Managing Director Ken Brinsden said Mr. Hancock had been instrumental in Atlas' success.

"Mark has made a huge contribution to Atlas since he joined us in 2006," Mr. Brinsden said. "His experience will be invaluable at the Board level as Atlas drives its expansion strategy."

Following the appointments, the Board will comprise five independent non-executive directors, one non-executive director and three executive directors.

London Mining to receive $110 mln under royalty deal with BlackRock

London Mining said BlackRockwhat for silica sand World Mining Trust would pay it $110 million for a 2 percent royalty on iron ore sales from its Marampa project in Sierra Leone.

"Although the company is already funded to achieve 5 million tons per annum of capacity next year, the proceeds from this deal provide a further financial buffer and provide funds to advance the expansion at Marampa to 9 Mtpa at the appropriate time," Chief Executive Graeme Hossie said.

The bankable feasibility study for the 9 Mtpa expansion is due to be completed in the third quarter, the miner said.

Shares of the company, which have halved since the beginning of this year, were up 16 percent at 172 pence at 0730 GMT on the London Stock Exchange.

"The $110 million cash injection removes any possible funding questions for Phase 1 delivery at Marampa and provides a substantial chunk of equity towards the expansion to 9 Mtpa," Liberum Capital analyst Richard Knights said.

BlackRock is one of London Mining's largest shareholders with a stake of about 5.4 percent.

Berkeley to update on ENUSA talks

Shares in Berkeley Resources crushing machine for salehave been placed in a trading halt pending an update on negotiations with Spanish nuclear fuel company ENUSA for the Salamanca uranium project in Spain. Shares in the company last changed hands for 81.5 cents.

Lake Shore Gold Expands Large Gold System at Thunder Creek Project

Lake Shore Gold Corp. today announced results from an additional 15 holes (9,755m) of drilling at the Company's Thunder Creek Project, including from the first underground hole drilled (561m) from the 650 Level regional sales manager latin america miningAccess Drift and 14 holes (9194m) drilled from surface.

Results from the underground hole confirmed the existence of a broad mineralized envelope, including multiple occurrence of VG, encompassing the entire width of a syenite porphyry stock located at the core of the Thunder Creek deposit. Surface drilling continued to expand both the Porphyry and Rusk zones near the 730 Level and also extended the deformation and alteration zone of the Thunder Creek deposit by 350 metres toward the Company's 100% owned 144 property.

Tony Makuch, President and CEO commented: "Drilling results from Thunder Creek continue to demonstrate that the property hosts a very large gold system with considerable potential to support a long-life, low-cost bulk mining operation. The core of porphyry mineralization that we have identified near the 730 Level is similar to those found in world class mines in the Timmins Camp such as the Hollinger and McIntyre deposits.

The excellent widths and grades intersected both in the drill holes and the current mine development strongly confirm previous results obtained from surface drilling and provide us with even greater confidence as we continue development along mineralization on the 730 Level at Thunder Creek.

"In addition, the excellent results in our early stage testing to the southwest of Thunder Creek towards our 144 property are exciting and highlight the fact that our current areas of focus at Thunder Creek represent just a small part of the highly prospective land package we have along the Timmins Mine, Thunder Creek and 144 property corridor with abundant opportunities for major new discoveries."

Hole TC650-001 represents the first underground hole to be drilled towards the Thunder Creek deposit, collared from the Thunder Creek decline. The decline was initiated from the 650 metre Level station at Timmins Mine to access the Thunder Creek Rusk and Porphyry zones at roughly the 730 metre level. Hole TC650-001 intersected mineralization approximately 25 metres below the 730 metre level and 15 metres below previously reported surface hole TC09-068b, which intersected 12.75 gpt over 83.40m (see press release dated June 24, 2009).

Among significant results from TC650-001 was 6.92 gpt over 61.40m, including 13.90 gpt over 18.56m, within a broad mineralized envelope encompassing the entire width of a syenite porphyry stock located at the core of the Thunder Creek deposit, and grading 4.91 gpt over 99.60m. In addition, 650-001 also intersected 5.16 gpt over 2.30m in the Rusk Zone for a total combined width of 110.90m grading 4.92 gpt. The results strongly confirm the presence of a significant mineralizing system within the area, with the bulk of mineralization being associated with the Porphyry Zone and some also being from the Rusk Zone.

Observations from the drill core of 650-001 indicate that the Porphyry Zone intersected has geological characteristics similar to TC09-68b, including widespread hematite, carbonate and potassic alteration, local quartz veining, pyrite, galena, sphalerite, scheelite and multiple occurrences of VG.

Additional significant results were from surface holes drilled near the east and west margins of the deposit which continued to confirm and expand mineralization beyond limits defined by previous drilling. Among significant intercepts near the west margin of the deposit were 13.30 gpt over 13.20m, including 82.27 gpt over1.60m and 7.89 gpt over 3.20m in TC09-69g and 6.97 gpt over 9.75m, 12.74 gpt over 5.60m, 2.24 gpt over 27.10m, 9.40 gpt over 1.50m and 4.88 gpt over 2.90m in TC09-69f.

TC09-69g intersected mineralization approximately 25 metres west of TC09-69, which intersected 8.86 gpt over 24.85m (see press release dated May 5, 2009). TC09-69f intersected mineralization approximately 45 metres below TC09-69g. A substantial area up plunge and to the southwest of these two new holes remains untested suggesting excellent potential for further expansions to the mineralized zones.

Significant intersections near the east margin of the deposit include 6.54 gpt over 23.70m in TC09-68f, 4.00 gpt over 27.30m, including 7.13 gpt over 11.30m, and 14.09 gpt over 2.00m in TC09-80c and 4.24 gpt over 22.30m in TC09-68e. These holes were part of a five hole series testing on a cross section approximately 50 metres east of TC09-68b. TC09-68f was the uppermost hole in the series and intersected mineralization approximately 120 metres above hole TC09-68b.

TC09-68e intersected mineralization 40 metres below TC09-68f, with TC09-80c intersecting mineralization 60 metres below TC09-68e. TC09-80a and TC09-80b tested up to 100 metres below TC09-80c and intersected significant widths of porphyry but decreased widths and grades. Potential to expand the zones further to the east are considered excellent.

Favourable drill results were also intersected by two early stage exploration holes testing to the southwest of the Thunder Creek Deposit. Holes TC10-83a and TC10-84 were designed to test the potential extension of the Thunder Creek Alteration and Deformation zone at Thunder Creek at distances of 150 and 350 metres from the previous west limit of the deposit near the 950-1000 metre level and were successful.

Both holes intersected up to 100 metres of hematite and carbonate alteration containing several strong shear zones, multiple porphyry intrusions and locally elevated gold values which appear to line up well with the Thunder Creek deposit. Of significance, the trend of the zone appears to have shifted slightly to a more southerly direction than originally thought which places it on a path to intersect both a major Porphyry body and the 144 Zone, which is known to host very similar alteration and rock types to Thunder Creek near surface. The total distance between Thunder Creek and the 144 area is approximately 1.6 km and has had little to no previous diamond drilling along the Thunder Creek Alteration and Deformation zone.

Drilling is continuing at the Thunder Creek project with two underground drills on the 650 Level and two on the 300 Level as well as one surface drill. The company also has nine other drills active in the area, including four underground at Timmins Mine and five surface drills (two at the 144 property, two at the Thorne property (Gold River Trend), and one at the AGE/RT Joint Venture property).

‘ZMDC board ratified Canadile Miners venture’

The joint ventureused crush for stone for sale in florida agreement between Core Mining and the Zimbabwe Mining Development Corporation (ZMDC) into Canadile Miners was ratified by the ZMDC board of directors, the High Court heard yesterday.

Advocate Lewis Uriri, the lawyer representing former ZMDC chief executive officer Dominic Mubaiwa in the $2 billion fraud case, said his client was only an employee of ZMDC and was answerable to the board.

“Without recommendations from the board after a due diligence exercise on Core Mining in South Africa, the shareholders’ agreement could not have been signed. The due diligence was done by the board and they passed a resolution authorising the agreement,” said Uriri.

According to Uriri, if misrepresentations were made to the minister, it is the board that lied and not Mubaiwa.

Mubaiwa, together with Core Mining boss Lovemore Kurotwi, is being jointly charged for allegedly misrepresenting investment information to Mines minister Obert Mpofu that the Benn Steinmeitz Group Resources (BSGR), through Core Mining would invest $2 billion in the Marange diamond fields.After the deal collapsed, the State claimed it had been prejudiced of $2 billion investment money.

“The board carried out a due diligence in South Africa and reported to the minister recommending the signing of the joint venture agreement between Core Mining and Marange Resources, a special vehicle for the ZMDC. They knew who they were negotiating with,” Uriri said.

Beatrice Mtetwa, representing Kurotwi when cross-examining State witness Godwills Masimirembwa, once said Mpofu was in South Africa at the time the due diligence exercise was conducted and was aware of the goings-on surrounding the deal.

Both Mubaiwa and Kurotwi claimed the transaction was done above board with Mpofu’s knowledge and blessings.

By Newsday Zimbabwe

Peruvian miners rescued from collapsed mine

Nine Peruvian miners have been rescued after six days trapped in an abandoned copper mine.

The nine, ranging in age from 23 to 58, walk ed out without assistance about an hour after dawn from a reinforced tunnel that rescuers had built as they removed more than eight metres of dirt and rock. The miners wore sunglasses and were covered with blankets. President Ollanta Humala greeted them. Humala had spent the night at the mine 240 kilometres southeast of Lima. The miners were trapped by a cave-in triggered by an explosion they themselves had set. They had communicated with rescuers through a hose, in place before the collapse, by which they also received food and medicine during their ordeal in a horizontal shaft dug into a mountainside. "It's pretty ugly inside," one of...

Vale May Become Biggest Nickel Producer Next Year

Vale SA, the world’s biggest iron- ore miner, may become the largest nickel producer by next year as it begins output at new projects in Brazil and New Calmethod of refinement and purification chromiteedonia, Chief Executive Officer Roger Agnelli said. The Rio de Janeiro-based company has “very good” nickel reserves and is producing at full capacity from current assets, Agnelli said today at an analyst meeting in London.

The company expects to start its Onca Puma nickel mine in Brazil’s Para state before year’s end and will also begin production at its New Caledonia project at the beginning of 2011, Agnelli said. “We can increase our production and we are doing that and maybe next year we are going to become the largest nickel mining company in the world,” he said. Vale produced 44,000 tons of nickel during the third quarter, 36 percent more than in the same period a year earlier, the company said in an Oct. 18 regulatory filing. Still, the company produced 114,000 tons in the first nine months of the year, 27 percent lower than in the year earlier period...

African Energy Reports Encouraging Coal Results at Sese, Botswana

The Directors of African Energy Resources Limited (AFR) are pleased to announce the results of preliminary proximate analysis on raw coal recently discovered on its wholly owned Sese project in northeast Botswana.

The Company has also been able to retrieve open file exploration data which includes proximate analyses for two core holes drilled in 1976 by Shell Coal Botswana Pty Ltd (Shell), which further support the analyses undertaken on the AFR core.

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The results confirm that the areal extent of the coal and the average quality of the coal is sufficient to warrant further investigation. The Company is actively seeking a suitably qualified cornerstone project partner to advance the discovery to the next stage.

Proximate Analyses of Coal at Sese

Immediately after the discovery of coal at Sese by AFR, four diamond drill core holes were drilled to collect samples for proximate analyses (for locations of AFR and Shell core holes refer to Diagram 2). The proximate analyses for AFR raw coal core were undertaken at ALS Chemex’s coal laboratory at Witbank in South Africa, and all analyses are quoted on an air dried basis.

Sixty‐five individual raw coal core samples were selected for analysis on the basis of geological boundaries and have been summarised as weighted averages of composite intersections exceeding a calorific value (CV) of 12 M/kg. The four AFR holes were drilled vertically, and indications to date are that the coal seams dip at less than 1 degree, so the quoted widths approximate true width intersections.

The six holes for which proximate analyses are available cover a large proportion of the known strike length of the coal deposit and are widely separated. They are therefore believed to.give only a preliminary indication of the average coal quality across the deposit. The average for the unwashed, raw coal indicates a seam thickness of approximately 9m, with a calorific value of 19 MJ/kg (4,550 kcal/kg), ash content of 27% and sulphur content of 1.8%.

The data published by Shell indicates an average specific gravity for the coal in holes N8 and N9 of 1.59. Further drilling and proximate analyses would be required to establish an initial inferred resource.

Proximate analyses of washed coal for Shell holes N8 and N9 are also shown in the table above, and indicate that below a specific gravity of 1.60, a yield of 60% provides coal with a calorific value of approximately 22.5 MJ/kg (5,375 kcal/kg), ash content of 16‐20% and low sulphur content below 0.4%.

Discussion of Results and Future Plans for the Sese Coal Project

The limited drilling completed to date on the project shows that coal seams are present over a strike length of 30km, and up to 4km down‐dip (Diagram 2). The average coal seam thickness is 10‐12m with an average depth to the top of the seam of 41m. The raw (unwashed) coal quality data and the combination of relatively thick but shallow seams suggest that this deposit compares will with other known coal deposits in the southern Africa region.

The Directors consider that this combination of preliminary coal quality, areal extent, thickness and shallow depth suggest that a commercially viable coal mining operation may be possible at Sese and warrants further evaluation. The Company is therefore actively seeking a suitably qualified cornerstone project partner to manage the future assessment of the Sese coal project.

Eldorado Gold Bids C$3.4 Billion in Stock for Andean

Eldorado Gold Corp., Canada’s fifth- largest producer by margraco imonitor video vibrating baby monitor 2797vib3ket value, offered C$3.4 billion ($3.2 billion) in stock for Australia’s Andean Resources Ltd., which said it’s in talks for a rival transaction.

Eldorado offered 0.310 a share for every one of Perth-based Andean’s stock, valuing each at C$6.36, the Vancouver-based company said in a statement. That’s 32 percent more that Andean’s closing price yesterday in Toronto. Global gold mining takeovers are at record this year as producers are discovering less metal while the bullion price has advanced each year since 2000. Buying Andean will give Eldorado Chief Executive Officer Paul Wright a 2.1 million ounce project in Argentina, adding to assets in Brazil and China.

Atlas Iron Limited Update on Recommended Takeover Offer for FerrAus

Atlas Iron Limited is pleased to confirm the timetabore crushing machine speed control pricele for its recommended takeover offer for FerrAus announced on 27 June 2011. Atlas will open its bid for FerrAus in the week starting 5 September 2011.

In June 2011 Atlas and FerrAus executed a Bid Implementation Agreement, pursuant to which Atlas has agreed to offer FerrAus ordinary shareholders 1 Atlas share for every 4 FerrAus ordinary shares. This implied an offer price of A$0.858 per FerrAus ordinary share and represented a premium of 34% to FerrAus' closing share price on 24 June 2011. As announced on 25 July 2011, the Atlas takeover offer is no longer subject to the completion of the Subscription and the Iron Ore Assets Acquisition. Each FerrAus Director continues to recommend that FerrAus...

Xstrata extends Sphere offer by 3 weeks

Xstrata has extended its $514 million bid for Sphere Minerals by three weeks to allow it to mop up the remaininglifting sand from river bed machines shares in the iron ore junior that it doesn't already own. The Swiss mining giant said in a statement on Thursday that it had extended the closing date for the offer from November 25 to December 17.

Xstrata had an interest in Sphere of 73.31 per cent on Wednesday. It attained an initial stake in the target of 5.46 per cent in August when Sphere's directors accepted the offer. Sphere backed the Xstrata takeover in preference to a rival refinancing proposal from Sin-Tang Developments, Sphere's second largest shareholder. The rival proposal would have taken the Singaporean firm's interest in Sphere to 30 per cent, from about 15 per cent.

Platinum Australia moves to owner operator mining at Smokey Hills in South Africa

Platinum Australia cil plant for salehas begun its transition from contractor underground mining at its Smokey Hills Mine in South Africa to owner operator mining.

The move to owner operator mining should place Platinum Australia in a stronger position to meet its production targets as well as result in cost savings of 10-15% over the next three months. Importantly, there is expected to be minimal disruption to production during the transition, which is scheduled for completion by the end of February, and no significant additional expenditure will be required. The transition process is being completed with the full cooperation of current mining contractor JIC Mining Services. The decision to move to..

Mining fuels Mongolia's 'wolf economy'

Mo2nd hand ball mills sangolia has always conjured a mix of exotic appeal and isolation. Sandwiched between Russia and China, the remote nation has for decades endured severe economic stagnation and political repression. That seems to be changing. Some 20 years after dismantling the country's Stalinist system and bringing about greater political freedom, Mongolia is now "the wolf on the move," as they say in the capital city of Ulan Bator.

Like the much-vaunted Asian Tigers of the 1980s -- Singapore, Taiwan and South Korea -- the Republic of Mongolia is now branding itself as the "wolf economy." Its strategy: leverage Mongolia's vast natural resources to boost socioeconomic growth. With only 2.5 million people, Mongolia sits in an area three times the size of France. Its sprawling, mostly desolate territory boasts of massive deposits of copper, coal, iron, gold, uranium, zinc and other natural resources. Experts say it probably has oil and rare earth elements, too. "Under any scenario, even if and when commodity prices fall substantially from their current levels, Mongolia's per capita GDP is heading for advance economy levels in the coming 20 years," says a Western economist who has lived and worked in Mongolia for two decades...

China gold demand seen rising over 22 pct in three years

Chinese gold demandequipment used in iron ore production could rise over 22 percent in the next three years and sharply outpace domestic production, the head of the country's largest state-owned gold miner China National Gold Group said on Thursday, signalling room for a strong ramp up in imports.

Gold production should reach 400 tonnes by 2014, a gain of nearly 19 percent from 2010, but consumption is set to grow by nearly a quarter to 700 tonnes, Sun Zhaoxue, president of the group, told reporters at the sidelines of a conference in Shanghai. "I'm very optimistic about the future of China's gold market," Sun said. China produced 340 tonnes of gold in 2010 and investors locally bought 571.5 tonnes, according to official data, for a gap of 231.5 tonnes made up by either imports or sales of existing stocks. The proportion of imports is not available because..

Murchison defends silence on $1b blowout

Murchison Metalrate of mini stone crushing machine in kolkatas has defended its decision not to inform shareholders about a $1 billion blowout in the estimated capital cost of its joint venture Oakajee Port and Rail development in Western Australia's mid-west.

The iron ore miner told the Australian Stock Exchange today it did not breach market disclosure rules by waiting until last Wednesday to inform investors of the latest capital cost estimate of $5.239 billion. Murchison shares fell in morning trade, off 3 cents to $1.015. Murchison had known about the estimate since last November, when budget and engineering studies for OPR were completed. But the company says it was not required to disclose the news earlier because the estimate is "premature and entirely speculative", and therefore is "not material" to the price of Murchison securities...

Gold One confirms 2011 production guidance

Gold One International Ltd has confirmed its pbiggest vertical wind mill in the wordroduction guidance of 120,000 ounces of gold coupled with earnings of $60.12 million dollars for the 2011 financial year.

The miner says it expects production to ramp up to $150,000 ounces during the 2012 financial year. Gold One’s CEO Neal Froneman says the company has the lowest cash costs out of the South African producers, positioning it to be extremely competitive by international standards. For the half year ended 30 June 2010, Gold One reported a net loss of $3.9 million.

Brazil miners welcome 'first step' in stimulus

Brazil'eccentric presses hydraulic overload for insurances new industrial stimulus measures are welcome but only go a "first step" toward boosting the mining industry's competitiveness, the country's mining institute Ibram said Tuesday.

The measures announced won't directly benefit mining companies, Ibram said in an emailed statement. However, they may favor mining companies in the long term as logistics should improve via incentives given to railroad and port development, which should reduce ore transport costs, Ibram said. Earlier Tuesday the Brazilian government announced a broad package of tax incentives and reduced interest rates on loans for various industrial sectors, in a move to boost the country's industrial output performance, ward off import surges, and boost international competitiveness. The package of measures fails to address specific problems faced by the mining industry, which include high energy prices and lack of...

Extract considers impact of bid for investor Kalahari

Uranium explorer Extract Resourceenvironmental issues associated with mining antimonys advised shareholders to take no action while it reviews a takeover offer by a Chinese company for its largest shareholder, Kalahari Minerals. Kalahari, which owns almost 43 per cent of Perth-based Extract, late Monday said it was discussing a possible recommended offer from Chiese state-owned CGNPC Uranium Resources Co. that values it around £756 million.

The news buoyed Extract shares, which were trading 6.8 per cent higher at $9.89. Extract in a statement said its independent directors will consider the implications of the offer for Kalahari. A spokeswoman for Rio Tinto, which owns an 11.5 per cent stake in Kalahari and a 14 per cent interest in Extract, declined to comment on the possible deal.

Grange to sell stake in Southdown

Grange Resources has put a 30 per cent stake in its $2.6 billion Southdown magnetite project near Albany up for grabs.

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Announcing the appointment of Deutsche Bank as corporate advisor this morning, Grange managing director Russell Clark said the group was considering a number of options to come up with the capital it needs.

"We are looking to sell at least a 30 per cent stake of the project, providing a terrific opportunity for a suitable strategic investor requiring long term offtake of a premium quality pellet feed," he said.

Grange and its joint venture partner, Japanese trading house Sojitz (30 per cent), want to have project funding for Southdown secured by the end of the year.

The project includes the Southdown mine, a 100km slurry pipeline to Albany, a desalination plant and 280km electricity transmission line. Grange also wants to build a 7mtpa pellet plant in Malaysia.

Grange is 66 per cent owned by China's Shagang International Holdings.

Grange shares were 2¢ higher to 52¢ in early trade.

Canadian mining CEOs' bonuses rebound

A more bullish commodities market over the past year has donerock crusher operational costs more than spike the price of copper. It's also pumped up payouts for executives in the mining industry. Canadian mining CEOs saw their cash bonus payouts rise from 61 per cent of salary in 2009 to 88 per cent in 2010, according to a survey by Coopers Consulting Ltd. and PricewaterhouseCoopers LLP.

“We are now seeing some dramatic swings back in bonus compensation that demonstrate a new confidence in commodity pricing and profitability," said PwC senior partner Len Boggio. The average annual base pay of Canadian mining CEOs at $480,000 shows little change from 2009, whereas average bonus payouts are over 1.75 times larger at $540,000. The total cash package on average, including annual base salary plus bonus, was $840,000, which compares with $670,000 a year earlier, with the highest bonus for a Canadian mining CEO reaching this year 434 per cent of base pay.