Prices, potential lead to interest in Alaska gold

Interest in gold mining in Alaska has surged, buoyed by high gold prices and the lure of a landscape tgold processing plant in ghanahat remains relatively unexplored.

Industry leaders don't expect a gold rush, the likes of which this still-young state hasn't seen in nearly a century, with hordes of miners looking to make their fortune. That's because these days making it big — finding and developing a large prospect — can take years, if not decades, and billions of dollars in investment. Even recreational enthusiasts can spend hours in back-breaking labor with nothing to show for it but some golden flints. For some, though, that's all it takes to keep them trying their luck. "It's the thrill of finding that gold," said Bill Dunlevy, who's been...

Scandinavian Resources intersects 139m at 28% iron at Harrejaure Project

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Scandinavian Resources has returned more high grade iron assays from drilling at the Harrejaure Project, located near its Kiruna Iron Project in Sweden.

Low grade copper mineralisation has also been intersected at Harrejaure including 56 metres at 0.17% copper from 84 metres. These additional assay results from Harrejaure further confirm the high grade nature of the deposit and the mineralised envelope is in excess of 100 metres. Amanda Arrowsmith, exploration manager, said “the Harrejaure magnetite-hematite mineralisation is currently open along strike in both directions and at depth and further drilling will look to confirm the extent of the rich iron mineralisation." Wholly owned subsidiary Kiruna Iron AB has a 75% interest in the...

SNC-Lavalin-Led Joint Venture awarded contract to execute EPCM services on Cobre Panama Project

Goldcorp signs agreement with Cree on development of Quebec gold mine

Goldcorp signed an agreement on Monday with Quebec's Cree on theaf slag granulation plante development and operation of the Eleonore gold project in northern Quebec. The Grand Council of Crees and the Cree Regional Authority unanimously approved the deal Feb. 3, about a week after it was formally approved by the Waskaganish community.

The Vancouver-based miner said the agreement between its subsidiary Les Mines Opinaca Ltee. and the Cree Nation establishes a regional framework to develop and operate the gold project. Under the agreement, Goldcorp recognizes and respects the rights and interests of the Crees, while the Cree recognize and provide support to the rights and interests of Goldcorp to develop the mine. The agreement will be valid throughout the life of the mine and contains provisions for Cree participation, including employment, business initiatives, training and education...

Special forces raid BP's Moscow office

The raid came a day after BP suffered the humiliation of being usurped by ExxonMobil in aused stone crushing equipment for sale landmark alliance with the Kremlin-controlled Rosneft, a deal that BP had claimed as its own.

Police armed with assault rifles searched for documents relating to the dispute between BP and a minority shareholder in its Russian joint venture TNK-BP. The shareholder, Andrei Prokhorov, claims that BP harmed TNK-BP's interests by failing to include the joint venture in its proposed alliance with Rosneft and is seeking $US3 billion in damages as a result. Jeremy Huck, the head of BP in Russia, condemned the raid by about 20 people as illegal and an attempt to put "pressure on BP's operations" in the country. Work at the office had been "paralysed" and he had been told that enforcement agents could...

Avocet buys back 20 pct of gold hedge book

West African-focused Avocet Mining said it bought back 20 percent of its gold hedge book to give it greater exposure to the metal'poste chancador zenith 60 215 110s record high prices at a time when its costs of production are rising. The news boosted the miner's shares, despite a decline in its second-quarter earnings.

The company said on Wednesday that core profit (EBITDA) fell to $26.1 million from $33 million in the previous three months on an expected decline in production. The shares were up 5.2 percent at 236.75 pence at 0817 GMT, close to a three-month high and outperforming a British mining index . Avocet had previously warned that output from its Inata mine in Burkina Faso would fall in the second quarter due to lower grades and industrial action. The company announced a $120 million expansion plan for Inata on Wednesday. It is targeting an additional 80,000 ounces a year from the mine, with production starting in early 2013. The mine is expected to produce 165,000 ounces of gold this year...

China Mine in Zambia Reinstates Workers

NCFA Mining has reinstated at least 1,000 miners who were fired last week for participating in a strike oveleading producer of grinding mills in the worldr wages, a sign that Chinese-owned companies in Zambia are starting to bow to government pressure over workers' conditions of service, a union official told Dow Jones Newswires late Sunday.

Mines and Minerals Development Minister Wylbur Simuusa directed NFCA management to reinstate the fired miners to allow for the resumption of labor talks with union representatives, Sikufela Mundia, president of the National Union of Miners and Allied Workers, said. "We shall resume labor talks next week. Most workers started reporting for duty on Saturday." Tensions between Zambian miners and Chinese management at NFCA's Chambishi Copper Mine have been mounting since Michael Sata, a strong critic of Chinese investments in...

Reed, MinRes get Mt Marion green light

Reed Resources and its ball grinder for sale south africajoint venture partner, Mineral Resources, have received final approval to commence construction of the Mt Marion lithium project near Kalgoorlie.

Reed announced to the ASX today the joint venture had received approval from the Department of Mines and Petroleum and said site works would commence immediately. Construction of the plant in modular form by Minerals Resources at its Kwinana workshop is well advanced. The JV is currently finalising the construction timeline and will advise the market in due course.

Japan may sell Inpex stake to fund rebuild

Japan's government is looking at selling some of its stake in Inpex, the developer of the Igold kacha centrifugechthys liquefied natural gas project in Western Australia and the Northern Territory, to fund earthquake and tsunami reconstruction.

But the company insists it is proceeding as normal with the $30 billion Darwin-based venture, widely tipped to receive final investment approval this year. The project has helped fuel the resources boom in Darwin and Inpex has opened a large office in Perth. The Japanese government is the biggest single shareholder in Inpex, which is the controlling partner in Ichthys, with an 18.9 per cent shareholding of the Tokyo-listed energy giant. In a bid to raise funds for disaster reconstruction, the government has flagged selling its stake in Japan Tobacco and several energy companies, including Inpex. A Tokyo-based spokesman for the company said...

Acid minewater getting urgent: CEO

Rand Uranium CEO John Munro is calling for much faster action andused adjustable rock crusher 3000 00 a redoubling of efforts to find a solution to the acid mine drainage (AMD) problem on the Witwatersrand.

"Unfortunately today, the challenge remains. There's been a huge amount of work done and a lot of talk and engagement, but we aren't acting on the ground fast enough," he told the National Assembly's water and environmental committee during public hearings on the matter. The seriousness of the problem had been recognised long ago and it was becoming clear it was a legacy issue. "And spending all our time finding culprits may well be a waste of resources," Munro said. There were new operators in the area. These companies were...

Westgold launches scrip bid for Aragon

Shares in Aragon Resources jumped more than 20 per cent today after former ownsimple iron ore processing plant indiaer Westgold Resources announced plans to make a scrip takeover offer that valued the company at $76m.
In the latest deal in the active gold sector, Westgold today said it planned to offer one share for every Aragon security to acquire the 79.9 per cent it does not own.

Westgold had spun off its takeover target in 2007, to focus on its non-core gold, nickel and uranium exploration assets. Westgold took a shine to Aragon’s Central Murchison gold project, acquired early last year, which it has advanced from a resource of 1.5 million ounces of gold to 2 million. This would add to its portfolio, including the Rover-1 gold-copper project in the Northern Territory, to create a “substantial mid-tier mining house” with combined resources of 3 million ounces of gold-equivalent and annual production potential of 200,000 ounces, Westgold said...

Aquino rejects total ban on mining

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President Aquino said he is not in favor of imposing a total ban on mining, preferring that the government ensure that it gets “a fair share” from mining revenues.

“We don’t think banning altogether is the solution. You will have small-scale unregulated mining. We want to ensure that we get a fair share. We want to be able to also be part of the processing and we want to maximize the utility of the resource for our people,” Aquino told reporters. Asked how much “fair share” should the government get from mining revenues, Aquino said this is one of the issues being discussed by Palace officials and mining stakeholders as Malacañang crafts its mining policy. “When they extract it from the ground, 2% is what we charge them as tax. What happened to the 98%? The two percent takes care of everything that might happen if there is a disaster. Of course, those of us who remember what happened in Marinduque and the promises that were made are really very wary. That is one of the actual details that are...

Orosur Mining announces drill results for the Mahoma Project, Uruguay

Orosur Mining, a South American-focused gold producer and explorer, today announce3d cad spiral concentrators drill results from its 100 per cent owned Mahoma Project in Uruguay. The drilling programme is designed to confirm grades and widths found historically at Mahoma.

David Fowler, CEO of the Company, stated, "We are pleased with drill results from our first pass drill program at Mahoma as they have confirmed historically identified grades and widths on Veta II. Orosur will now expand its drilling programme with the objective of defining a resource during calendar 2012. It is anticipated that this resource will provide the basis for a feasibility study to produce a total of 25,000 ounces per annum. The study will be based on ore being transported to the San Gregorio mine to minimise capital expenditure and reduce study and...

U.S. extends uranium moratorium for 6 months

The federal governbig capacity mung bean crushing plant in chinement on Monday extended for six months a moratorium on new uranium mining claims in a million-acre buffer zone around the Grand Canyon as it awaits the conclusions of a study of potential environmental harm to the region.

Interior Secretary Ken Salazar said that expanded uranium mining around the canyon could threaten water supplies, air quality, wildlife, desert vegetation and priceless scenery. Once lost, he said, those assets can never be reclaimed. But he said he was not yet ready to declare the area off limits to new mining claims for the next 20 years, as many local and state officials and environmental advocates have demanded. He said in a briefing at the Grand Canyon that a 20-year moratorium was his preferred solution but that more scientific study was needed. The decision represents at least a partial victory for environmentalists, who have grown increasingly uneasy in recent months as the Obama administration has, in their view, seemed to retreat on several environmental and regulatory fronts...

Mongolia halts coal exports to China - mining group

Mongolia has halted truck deliveries of coal from the South Gobi region to China, with the ban gravel crushing spread for saleexpected to last about two days, after China closed a part of the border on Tuesday citing a technical glitch, a lobby group for the Mongolian mining sector said.

The South Gobi region is the location of the Tavan Tolgoi property, one of the world's biggest coal deposits. Mongolia has yet to build railway infrastructure in the region and exporters continue to depend on trucks. "The Chinese side said they had some problems (at the border crossing of Zamyn Uuud) with their computer software registering the vehicles," said Baasanjav Enkhbaatar, chairman of the Mongolian Mining Club. "It affected all the traders in Mongolia and so the Mongolian government is taking countermeasures." Official Chinese news agency Xinhua said Mongolia suspended coal deliveries following a spate of accidents on a dirt road running from Tavan Tolgoi...

Trapped miners: One of four at Gleision Colliery dead

One of the four miners trapped 90m (295ft) below gwhere to buy stone crushing equipment in south africaround in the Swansea Valley has been found dead, police can confirm.

Rescuers had been trying to reach the men in the flooded Gleision Colliery near Cilybebyll, Pontardawe for nearly 24 hours. The trapped miners are Charles Bresnan, 62; David Powell, 50; and Garry Jenkins, 39, from the Swansea Valley; and Phillip Hill, 45, of Neath. Police said the rescue is continuing.

Mindax raises $8.66m for Mt Forrest

Exploration company Mindax Limited will raise approximately A$8.66 migladstar glass grinder model g7llion through a placement and entitlements issue for the development of its Mt Forrest Iron project in Australia. The company said funds raised will be used principally to progress exploration on the site.

The directors of Mindax announced that commitments for a placement of 5,818,811 ordinary fully paid shares at 35 cents per share had already been secured to raise gross proceeds of approximately A$2,036,584. The placement will be made to a number of sophisticated and professional investors, and the securities will be issued under the company's 15% placement capacity. The intended clearance dates for the placement funds is the 19th April 2011.

No Decision Yet from EPA Regarding Vele Colliery Development - Coal of Africa

Coal notes the recent article published by Bloomberg on 14 October 2010 rgrinding mills manufacturers in south africaegarding the Company’s Vele Colliery in the Limpopo Province of South Africa.

The Company would like to clarify that no decision has been made as yet by the Department of Environmental Affairs (“DEA”) or the Department of Water Affairs in relation to the recommencement of development and the granting of the Integrated Water Use License application for the Vele Colliery.

CoAL is in active dialogue with the DEA and remains hopeful development can re-commence in Q4 2010. The Company will continue to keep the market informed of relevant progress.

Centre plans overhaul of mining sector

When former Karnataka Lokayukta N Santosh Hegde recentlymill to grind hard white winter wheat to flour said that vested interests were controlling the mining industry, he was not exaggerating, considering that India registered over 182,000 cases of illegal mining across 17 states in the last five years alone.

The Union government data show that Andhra Pradesh — the single largest contributor to the country’s mineral production of roughly Rs 1,28,000 crore — alone registered a 110 per cent increase in illegal mining cases in the last four years. The number of cases in Andhra rose to 11,590 in 2009 compared to 5,385 in 2006. The proposed amendment to the Mines and Minerals Development and Regulation (MMDR) Act plans to tackle the issue of illegal mining, besides bringing other changes in the current functioning of the mining industry. The Bill proposes allowing states to set up special courts for prosecution of mining-related offences and giving more teeth to the Indian Bureau of Mines (IBM), which serves as a sectoral regulator, by allowing it to take direct action in cases of illegal mining...

South Africa's National Union of Mineworkers to strike at Xstrata from Monday

South Africa's National Union of Mineworkers (NUM) on Monday underground trucks used for nickle miningwill start a strike at Xstrata's operations across the country after a dispute over an employee share ownership programme, the union said.

NUM spokesman Lesiba Seshoka said on Friday the union wants the company to pay equal dividends to all employees under the programme. "We served the company notice to strike yesterday. The strike will affect all their diversified operations, Xstrata coal, Xstrata alloys," Seshoka said. Companies with operations in South Africa set up employee share programmes in a bid to increase worker and, in particular, black ownership. South Africa's black economic empowerment drive is aimed at rectifying the ownership and income disparities of white apartheid rule.