Valhalla Commences Exploration at the Demirdere Au-Cu-Fe Project, Turkey

Valhalla Resources is pleased to annouwhat can feldspar be used fornce that a surface mapping, soil sampling and trenching program has commenced on the Company's Demirdere gold-copper-iron prospect. Demirdere is part of Valhalla's 18,567 hectare Sarp Property located in Northwest Turkey.

The Demirdere Prospect is centered on an iron-copper-gold skarn system, with multiple historic small-scale mines and smelting dating back to antiquity. High-grade gold in grab samples suggest that areas of the magnetite rich skarn have been overprinted by an epithermal gold system.

During a 2005 recon program a grab sample of magnetite skarn returned 38.9g/t Au, which was partly duplicated by Valhalla personnel with an 18.6 g/t Au sample at the same location in 2010. This sample location is within a northeast-southwest gold and copper soil anomaly.

Limited modern exploration has been conducted at Demirdere. In the late 1970's and early 1980's, the Turkish Geological Survey drilled 5 shallow core holes testing the magnetite skarn, which were only assayed for iron content. Core samples found in poor condition at MTA's core shed in Ankara were partly logged and assayed by Valhalla in 2008.

Two select samples of core returned 1.98g/t Au with 2.25% Cu, and 1.79g/t Au with 0.7% Cu. Other select samples detected anomalous gold and copper from 13 samples that assayed between 30.0% and 49.0% Fe, averaging 41.07% Fe. Complete core lengths and assay composites are not known due to the poor condition of the historic drill core.

These results indicated the presence of gold and copper in the system and were confirmed by a 2009 soil sampling survey completed over an area covering 1.5 km2. The soil grid was completed on 100m sample intervals. Within the anomaly, 12 samples ranged between 0.1 and 1.02 g/t Au averaging 0.3 g/t Au.

The anomaly follows a northeast-southwest trend, is 1.1km long by 100m and 350m in width, is coincident with a magnetic high, and is open for expansion to the southwest off the grid. Additionally, copper values form a similar orientation with six samples ranging from 0.1% to 0.968% Cu and the anomaly is open for expansion to the northeast and southwest.

A detailed ground magnetic survey at Demirdere suggests strong correlation between magnetic highs and the coincident gold-copper in soil anomaly. Magnetic data contain single point anomalies up to 47,000nT with the heart of the anomaly between 2,000 and 7,000nT.

Permits have now been received by the Company for a trenching program totalling up to 2,000 meters with the objective of identifying drill targets. In addition, Valhalla will complete geological mapping, and expand the existing soil grid. The trenching program is expected to take 4-6 weeks to complete.

SRK opens Ghana practice

SRK Consulting has opened a practice in Ghana’s capital, Accra. Thisstone crusher spare parts india follows several decades of involvement in West Africa and will consolidate SRK’s position in the region. It will not only give it closer contact with clients, but also serve as a springboard to future expansion in the region.

John Kwofie, a well-known and experienced local engineer with over 20 years’ experience focusing on pit slope design and analysis, tailings design and operations, foundations investigation and materials studies, will head up the practise.

Apart from his extensive experience on Ghana’s larger gold mines, Kwofie has worked internationally as a consultant in Africa and Asia and lectured part time between 2003 and 2006 in engineering geology at the University of Ghana, Legon. He has also served as vice president of the Ghana National Working Group on Rock Mechanics.

“Ghana is the second-largest gold producer in Africa after South Africa and a significant portion of the country’s external revenue is from gold mining,” says Kwofie. “This makes the establishment of an SRK practice in Accra an exciting step in the company’s long association with Ghana.”

“As the minerals base of Ghana’s economy broadens, this presents great opportunities for growth and development,” he comments. “SRK Ghana will initially offer geotechnical services including rock mechanics, tailings engineering and civil geotechnics; but the range of SRK’s other services – environmental, hydrogeological, mining engineering and geology – will be developed in the medium-term.”

“SRK Ghana will be able to draw on the skills and capacity residing in other practices in our global network, offering our clients an unmatched depth and range of expertise,” he says.

The involvement of SRK in Ghana goes back a long way, mainly through the company’s practices in South Africa, the United Kingdom, Australia and North America as interest in West Africa has grown among explorers and miners from those regions.

“Our early priority has been to staff the practice with local experts to augment the existing consulting team,” says Kwofie. “This is not a difficult task, thanks to our knowledge of the environment here, and the good supply of well-trained and experienced engineers in our mining sector.”

The strong foundation of mining engineering skills in Ghana comes largely from the many cohorts of engineers in mining-related disciplines that have graduated from the University of Mines and Technology in Kumasi – and who went on to hone their specialities in mining operations within the region and abroad.

“The ready availability of these skills in the Accra practice will enable direct local support for clients and participation in projects undertaken by SRK Consulting both in the country and the wider West African region,” says Neil Marshall, a corporate consultant and rock mechanics specialist from the SRK UK consulting practice.

“We have a solid client network for us to build on and also considerable project work currently on going in Ghana. An important immediate focus will be on building our technical team, transferring skills and training new staff,” he says.

The consulting practice will comprise five staff – three technical and two supporting – by the end of this calendar year. In this regard, Isaac Baidoo a mining engineer with 15 years of experience and focusing on construction quality control has recently joined the SRK Ghana team.

Says Roger Dixon, corporate consultant and chairman of SRK SA: “SRK’s business model relies on local ownership and empowerment, combined with a stringent set of quality standards regulating all aspects of company performance. We look forward to working on new opportunities and furthering relationships with our existing client base in Ghana and the wider West Africa region.”

Just last year, SRK opened an office in the Democratic Republic of Congo.

Former Griffin Coal owner claims Australian mines back from Lanco

Adding woes to Lanco Infratech embroiled in a legal battle with Perdaman Industries over coal supgranite and marble and lime stone mining saw machinesply issues in Australia, Mr Ric Stowe - the former owner of Griffin Coal - is now claiming the mines back saying that current owner Lanco did not stick to its development plans.

Lanco Infratech, through its step down Australian subsidiary, Lanco Resources Australia, took over Griffin Coal Mining Company and Carpenter Mine Management (Griffin Coal) in March last year. Mr Stowe, in a claim lodged with Western Australian Mining Warden’s Court, asked for exploration and mining rights for land containing huge coal reserves that are part of Lanco’s expansion plans. He is claiming that the Indian infra giant, as required under the state laws, has not spent enough money on exploration and developing the tenements. When contacted, a senior Lanco Group official said they will be presenting their version to the Warder’s court. According to Lanco Infratech CEO (Business Development) Mr Nagaprasad Kandimalla, they received a notice from...

Leighton snags $317m in goldmine work

The world's largest contract miner Leighton Holdings has wgold shaker equipment for saleon two new goldmining contracts worth $317 million. Newcrest Mining, Australia's largest goldminer, awarded Leighton a $200 million contract for works at the Telfer mine in Western Australia's Pilbara region.

About midday eastern daylight time, Leighton stock was up 8 cents at $29.24. Canadian company Crocodile Gold has signed up the company for a $117 million contract at the Cosmo Deeps underground gold mine in the Northern Territory. Leighton Contractors will provide mining equipment, workers and buildings for Newcrest and complete mining services for Crocodile Gold, with provision for a contract extension with the mine life estimated at 10 years.

BHP Billiton tried to stop Chinese deal with Rio Tinto – Wikileaks

Miner BHP Billiton lobbied the Australian government intensively, as it tried to wreck a $19.5bn (£12.3bn) investment by Aluminiua plant of clacium carbonate powder processingm Corp of China (Chinalco) in arch rival Rio Tinto, according to a US government cable released by Wikileaks. The leaked cables, which were published in The Sydney Morning Herald over the weekend, showed that BHP was concerned that the investment would give China insight into commercially important information.

It was also claimed that BHP, the world's largest miner, had played the situation well. "Treasurer Wayne Swan's chief of staff has told us on several occasions that BHP has played its cards with consummate skill, in part due to the increasing marginalisation of BHP CEO Marius Kloppers as BHP chairman Don Argus has taken the lead in lobbying the GOA [government of Australia] with the able assistance of BHP's well-connected VP for government relations, Bernie Delaney," a cable sent on June 7 last year said.

Sandfire Raises $93.9m to Fund Exploration Campaign and Project Development

Sandfire Resources is pleased to announce that it has concluded an agreement with Korean-based LS-Nikko Copper, the world’s third largest copper smelter, encompassing a strategic alliance, sales arrangements for future production and a $93.9 million share placement.

Under the Agreement, LS-Nikko will acquire a 12.5% strategic holding in Sandfire through the issue of 18.7 million shares at $5.02 per share, representing a premium of 10% to the 5-day VWAP of Sandfire shares.

The funds willconstruction waste plant costs be used to underpin an unprecedented exploration program at the DeGrussa Copper-Gold Project in Western Australia, giving shareholders an outstanding opportunity to capitalise on the upside of this emerging world-class region, which already hosts four high-grade copper-gold deposits.

Following the recent 43% increase in the JORC resource estimate for DeGrussa, which now stands at 533,000 tonnes of contained copper and 559,000oz of gold, the Company now has a resource target2 of 1 million tonnes of contained copper metal.

The significant cash injection will also provide cornerstone funding for development of the DeGrussa Project, while the relationship with LS-Nikko – together with Sandfire’s existing strategic alliance with POSCO – will underpin the potential for Sandfire to secure project finance on highly favourable terms.

The Agreement concludes a two-month process which also encompasses sales arrangements covering 45% of Sandfire’s future base metal production at fair market prices. LS-Nikko is the world’s third largest copper smelter with annual capacity of 560,000 tonnes of metal, of which more than 450,000 tonnes is used in its fully integrated downstream business.

With revenues of US$4.9 billion in 2009, LS-Nikko is Asia’s third largest buyer of metals. LS-Nikko is 50.1% owned by the giant Korean industrial conglomerate, LS Corp, and 49.9% owned by a Japanese consortium including JX Nippon Mining & Metals Corporation, which owns the fourth largest copper smelter in the world, Marubeni Corporation and Mitsui Mining and Smelting Co. Ltd.

Commenting on the transaction, Sandfire’s Managing Director, Mr Karl Simich, said: “We are delighted to have secured this landmark agreement with LS-Nikko, which represents an outstanding outcome for Sandfire shareholders. This is the second strategic alliance we have secured with a major global downstream partner and is consistent with our business model of developing strategic relationships that enable us to maximise the value of our resource assets."

“The Strategic Alliance with LS-Nikko complements the existing relationship which we put in place with POSCO two years ago. That partnership has been very productive for Sandfire, giving us the strategic backing and access to funding which enabled us to discover the world-class DeGrussa Project last year."

“The additional funds being injected by LS-Nikko will boost our cash reserves to over $145 million, putting Sandfire in a fantastic position to accelerate the exploration and development of DeGrussa and our other projects, which the Board believes will unlock substantial value for our shareholders.”

LS-Nikko’s Executive Vice President, Mr Seung-Jae Chyun, said: “We are delighted to announce this investment in Sandfire which represents our first entry into the Australian mining industry. We believe that the DeGrussa Project is unique and offers very exciting growth potential. As a major end-user of copper, we see Sandfire as a natural strategic fit with LSNikko and we look forward to developing a long and mutually rewarding relationship that will create immense value for both parties.”

Senate committee approves deal reached on Nevada mining tax deductions

A tentatgold sands mining in pacific oceanive deal was struck, then amended, late Sunday revising deductions the mining industry can take before state taxes are calculated. The Senate Revenue Committee amended and approved SB493, which strikes out portions of Nevada law that allowed mining companies to write off marketing costs and fire insurance.

It also eliminates deductions for employee housing, severance pay, out-of-state travel and federal, state or local taxes. The measure was then quickly approved by the full Senate, 16-5, and sent to the Assembly. A provision to allow the industry to continue to deduct the cost of employee health care was agreed to earlier in the night, then rescinded by the committee when it was realized those funds were already factored into local school district budgets. The deductions will be allowable again in two years. The measure also scraps a mining claim fee set to expire at the end of June. A district court judge on Tuesday struck down the fee, saying the state constitution prohibits any taxes beyond 5 percent of the net proceeds of minerals. But Sen. Sheila Leslie, D-Reno, said the fee imposed during a special session in 2010 was eliminated because it wasn't needed under the current budget agreement, not because of the state court ruling...

Indonesia says Newmont agrees to renegotiate mining contract

Newmont Mining, the world's conveyor belt for crushing plant indonesiasecond-largest gold producer, has agreed to renegotiate its mining contract with Indonesia's government, the mining minister said on Monday.

"Newmont, along with Freeport, has agreed to renegotiate their long-term contract with us. It's good news since previously they said no," said Jero Wacik, the minister for mining and energy. "It is to guarantee fairness for both the government and the companies," he added. Newmont's Indonesia unit runs the Batu Hijau copper and...

Deep Yellow Returns Positive Results from Start of 2010 Drill Programme at Mount Isa

Deep Yellow is pleased to announce it has kicked off its 2010 drilling programme in the Mount Isa district in Mayconstruccion de caja 3 compuertas para draga de oro and has returned a number of high-grade intercepts at its 100% owned Miranda prospect and three other prospects at Isa West.

DYL’s 2009 Mount Isa drilling program outlined Indicated and Inferred Mineral Resources in accordance with the JORC Code of >400 ppm U3O8 from surface to approximately 200 metre vertical depth at several prospects. Following on this success, the 2010 drilling programme will aim to fast-track drill several new prospect areas with surface radiometric anomalies and to test a number of previously drilled prospects up to 400 metres vertical depth to determine the potential for continuity of mineralisation at depth. The overall strategy is to assess the potential of the Mount Isa prospects to increase total uranium resources.

Mining company says Broken Hill blasts no problem

There's concern bmake a lab mill for gold mininglasts at a Broken Hill mine may damage buildings in the city.

CBH's Rasp Mine let off a production blast around 6.30pm on Saturday - the second at the mine in two weeks.

Michael Raetz, who lives nearby, says the blast was far louder than any other he's heard in the city.

"I think the company needs to explain to the community whether these are going to be daily or weekly or one-off events," he said.

"The concern is if blasts of that magnitude are frequent and ongoing, buildings will be damaged, not in one week or one month but over time, because this is much bigger than what's happened before."

The Managing Director of the Rasp Mine, Tony Davis, said there will be ongoing production blasts throughout the life of the mine - but they'll be within sound limits.

Mr Davis said the company will try to further reduce the impact on the community.

"Yes, you will continue to feel the blast," he said.

"Whilst all the blasts to date have been within our limits, we want to continue to improve them to make the vibrations that are felt even lower and lower."

He said CBH is working to further reduce the blasts.

"You look at your hole spacing, your hole designs, you look at the amount of explosives you put in each hole," he said.

"And you look at the timing, from the time the blast initiates to the time the blast finish is how long that is, so how you can spread your blast over a longer period of time to reduce this."

Goldcorp to remain focused on gold assets: CEO Chuck Jeannes says

Goldcorp will remain focused on its gold projects and will not look to broaden its portfolio thin stone machine for saleinto base metals, chief executive Chuck Jeannes said Thursday. "We're a gold mining company and we're committed to remaining a gold mining company," Jeannes told a conference call Thursday to discuss Goldcorp's first-quarter financial results.

Jeannes made the comments because he said the company has received many questions about its focus after a decision by Barrick Gold to make a $7.3-billion bid for copper miner Equinox Minerals last month. "Goldcorp has already completed the transactions necessary to underpin what we firmly believe is the best gold growth profile in the sector," he said. "So I believe that our gold focus should be obvious." "Don't expect changes to our long-standing strategy focused on growth, both organically and through disciplined acquisitions." The Vancouver-based gold miner, which keeps its books in U.S. dollars, said late Wednesday that it earned $651 million or 81 cents per diluted share for the quarter ended March 31 compared with a profit of $247 million or 29 cents per diluted share a year ago. Revenue totalled US$1.22 billion, up from $718 million...

Mechel extends loan deal, resumes mining at Sibirginsk mine

Russia’s Mechel hstone grinding amp milling machineas inked agreements with Gazprombank to extend a $747m loan, after agreeing to secure nearly $500m last week for its units, Yakutugol Holding Company and Southern Kuzbass Coal Company.

The current deal extends revolving credit lines opened for Chelyabinsk Metallurgical Plant, Mechel-Service and Mechel-Energo by three to five years, Mechel stated.

Mechel chief financial officer Stanislav Ploschenko said "The loans will be used to finance operational activities, which will enable us to use our operating cash flow to re-finance a significant part of the Group's short-term debt and thus dramatically improve the structure of our credit portfolio."

The company has also resumed mining at Southern Kuzbass Coal Company's Sibirginsk Mine with a new mechanized complex being assembled at the mine.

Mechel Mining Management Company chief executive officer Boris Nikishichev said a lot of work was done on eliminating the reasons for the mine's suspension in 2011, assembling the new high-performance equipment, ensuring mining safety and resuming production.

"Re-launching operations at the mine will allow us to increase production and sales of coking coal, which should have positive impact on this year's results for the whole of the company's mining division," added Nikishichev.

Potential coal reserves at the mine's long wall face # 3-1-9 are estimated at 1.5 million tons, with the breakage face due to produce about 100,000 tons monthly.

All required documents for the long wall face's operations have also been obtained.

Mechel suspended mining at Sibirginsk Mine last June due to coal self-heating in the mined-out area.

By Energy Business Review

Guinea sets deadline for Rio's ore blocks

Rio Tinto has untilsmall scale mining equipment suppliers in switzerland February to formally give up its rights to part of Guinea's giant Simandou iron ore concession or it will risk losing its remaining stakes, the West African state's top mining official said. The Anglo-Australian miner, which has invested $680 million in what it says is the world's largest undeveloped iron ore deposit, has been in dispute with Guinea over blocks 1 and 2, which the government gave to BSG Resources.

"We have asked in vain for Rio Tinto to give us written confirmation (that) they have given up half of Simandou in accordance with the mining code," Mines Minister Mahmoud Thiam told Reuters in an interview late on Friday. "If this isn't done by February 2011, Rio risks losing the other two blocks under its control and could definitively lose its rights to the zone," he said. A Rio spokesman declined to comment specifically on the two blocks but said, "We continue to engage with the Guinean government on a range of matters and are committed to developing the project and realising the benefits for the people of Guinea...

London Mining in talks with Glencore on Ore sales - CEO

London Mining Plc, studying a $2.2 billion iron ore mine expansion in Sierra Leone, said it’s in talks with Glencore Iequipamento para extracao de ouronternational Plc to extend sales of the steelmaking raw material from its Marampa deposit.

“They would like to extend their off-take rights to more of our production, which is in line with their strategy to grow their presence in the iron ore market,” Graeme Hossie, chief executive officer of the London-based company, said in a phone interview from the city. Glencore agreed to a five-year sales accord for ore from the first stage of the mine in January. Prices for iron ore delivered to China, the world’s biggest buyer, have jumped 21 percent in the past year. The first shipment from the $199 million mine, which has a production capacity of 3.6 million metric tons a year, is expected in October, Hossie said today. London Mining’s agreement with Glencore covered all output from the initial production phase and an option for the next stage, the company said in a statement today...

Resources Council backs push to allow uranium mining

The Queensland Resources Council (QRC) is calling on federal ALP members to push the Government to overrule the states on uraniumrock sand using quartzite stone mining. Some federal Labor MPs want to debate nuclear power at the party's national conference next year. Queensland mining magnate and Liberal National Party (LNP) supporter, Clive Palmer, has also backed the development of nuclear power in Australia.

However, Premier Anna Bligh, who is also ALP national president, says she will not overturn the ban on uranium mining in Queensland. QRC spokesman Michael Roche says if federal Labor MPs are serious about developing nuclear power in Australia they should open up Queensland's uranium deposits. "We're talking about hundreds of millions of dollars of investment, thousands of jobs, and jobs in regional Queensland, places like north-west Queensland," he said. "We have vast deposits of uranium and instead we are allowing South Australia, Western Australia, and the Northern Territory to satisfy the demands of an energy-hungry world.

Talks begins between Gold One and NUM

Gold One today announced that they have begun talks with thedistribution of hematite in malaysia National Union of Mineworkers (NUM) to normalise the situation at their Modder East operation in Gauteng, South Africa.

The meeting comes after the Union made representation on June 8 against the dismissal of employees that participated in an illegal strike at the end of May.

The Company approached the Labour Court and was granted an interdict in early June against the workers' illegal strike that was initiated by the Professional Transport Allied Workers Union (PTAWU), one of the smaller unions in South Africa.

The National Union of Mineworkers (NUM) is the recognised union at Modder East.

Approximately 500 workers has reported for duty and together with the operation’s supervisors‚ they are conducting limited mining and milling operations. Surface stockpile sources are also being processed‚” the company said.

Xstrata Board approves US$1.1bn Ulan West Coal Project

The Xstrata Plc Board has approved the investment of US$1.1 billion to develop the Ulan West underground thermal coal mine in the central west of New South Walesizes of gyatory crushers, Australia.

The Ulan West underground longwall mine will produce 6.7 million tonnes per year of export thermal coal, with a life of mine of approximately 18 years and cash costs at the bottom of the second quartile of the industry cost curve. Situated within the existing Ulan mine complex, Ulan West will complement the Ulan No. 3 underground mine and use some of the existing infrastructure at the Ulan complex.

Subject to the receipt of a Development Approval and other Government environmental approvals, construction of the mine is expected to commence in late 2010, with the first longwall coal to be extracted in 2014.

Xstrata Coal Chief Executive Peter Freyberg commented: “The development of Ulan West will add another low-cost, efficient longwall operation to Xstrata Coal’s portfolio, leveraging a known resource base at Ulan to increase our production volumes by at least seven million tonnes per annum to satisfy growing demand for export quality thermal coal in Asia.

“Through our continued investment into new operations, Xstrata Coal is providing new employment and local business opportunities within the Mudgee region and making an important contribution to the State’s economy.”

Construction of the mine will create approximately 270 new jobs, with an expected 350 employees required for ongoing operations. Ulan Coal Mines Limited (“UCML”) is jointly owned by Xstrata Coal (90%) and Mitsubishi Development (10%).

Mining Projects Group cements Delcarmen Energy acquisition

Mining Projects Group has now entered a definitive agreemsurface gold mining equipment for saleent to acquire Delcarmen Energy, which has filed applications for two coal exploration permits in Queensland.

An independent study indicates that the two coal permits, near Kingaroy in the Tarong Basin, have demonstrated potential for high energy thermal coal and semi-soft coking coal. The tenements cover around 1,030 square kilometres with existing rail infrastructure running through them. The tenures underlie several formations in the Triassic Esk Basin or Esk Trough, several of which are prospective for finding coal deposits. Significant coal discoveries have been made in the Triassic Esk Basin or Esk Trough Basin which...

Mining states buck trend but jobless rates set to grow

Australia's jobs market is as flat as a tack and unemployment is set to rise

The Minister for Empsurface mine planning and designloyment, Bill Shorten, predicted ''further softness'' after news yesterday that on a trend basis, the nation has been putting into work just 1000 more people each month. The trend has fallen below population growth, meaning Australia's potential teenage and adult labour force is climbing 18,500 per month while the number in work climbs by just 1000. In February, the unemployment rate rose from 5.1 to 5.2 per cent. Treasury predicts it will reach 5.5 per cent by June. Mr Shorten said Australia still compared well to the rest of the world. ''Whilst Japan has slightly lower unemployment, the Germans, the Americans, the English, in fact the whole euro region, has unemployment much higher than Australia,'' he said. ''So we are relatively well placed but we still expect further softness in the...

Potash says BHP won't be only bidder

The chief executive of Potash Corp of Saskatchewan Inc said overnight he believed BHP Billitosmall laboratory jaw crusher salen would not be the only bidder for the world's largest fertiliser company.

Chief executive Bill Doyle said on a video posting on Potash Corp's website that a number of parties have expressed an interest in alternative transactions. He said they have approached some and others have initiated contact. Mr Doyle said while they continued to discuss those options, they believed that Potash was poised to achieve results as an independent standalone company that "far surpasses BHP's inadequate offer". BHP Billiton, the world's biggest mining company, launched a hostile $US130 ($143)-a-share takeover on August 18 after Potash directors rejected its offer.