Prime Minister Julia Gillard has an each-way bet on nuclear power

Julia Gillariron ore track magnetic separatorsd has rejected the need for Australia to pursue a nuclear-powered future while declaring the nation has much to gain from selling uranium to India.

In a major backflip, the Prime Minister today urged Labor colleagues to overturn the party's ban on uranium sales to India, saying the position was "all pain, no gain" for Australia. Ms Gillard said selling uranium to the energy-hungry nation would provide an economic boost to Australia while improving long-term relations with the emerging superpower. But, as union power-broker Paul Howes urged consideration of domestic nuclear power, Ms Gillard said Australia's energy future lay...

LNG to announce partner, raising

Liquefied Natural Gas Limited is set to anmobile crushing plant manufacturers in uknounce a capital raising and strategic partner for its Gladstone LNG project.

The company is planning a mid-scale liquefied natural gas plant at Fisherman's Landing at Gladstone in Queensland. The plant will purify and liquefy coal seam gas into liquefied natural gas for export. Shares in the company last changed hands for 59.5 cents.

Goliath Gold moves into the black

Goliath Gold Mining moved in to the black, with headline earnfind used jaw crushers for sale in rsaings per share of 0.6 cents for the nine months ended December 2011 after a loss of 1.6 cents previously, after taking into account the 10 for 1 share consolidation in May 2011.

If the share consolidation had taken place at the end of March 2011, the headline and diluted headline earnings per share would have been 15.7 cents, gold focused development company said. During the nine month period, the net profit of the group was R1 million, compared to a net loss for the year ended March 2011 of R6.1 million. The profit arose mainly as a result of the sale of financial assets held for trading, fair value adjustments on investment properties and financial assets held for trading as well as a reduction in operating expenses since Gold One International took over management of the group. The basic and diluted EPS was 2.3 cents for the nine months, after taking into account the 10 for 1 share consolidation in May 2011, compared to a basic and diluted...

China to Shut Copper Smelters Violating Environment

China, the biggest smelteequipments used in earth moving processr of copper, may shut plants that violate environmental rules, as the government tightens regulations after a series of industrial accidents led to waste spilling into rivers and seas.

Copper smelters will need to spend two years in reorganization before they reapply for approval to operate after a ban, the Ministry of Industry and Information Technology said in a statement on its website today, without giving details. The ministry will have a list of approved producers, it said. “It’s all part of the government’s efforts to clean up China’s environment,” Zhao Kai, an analyst at Jinrui Futures Co., said from Shenzhen. “It will affect new entrants as they will now come under greater scrutiny.”

Endeavour Silver Sets New Production Records in 4th Quarter

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Endeavour Silver announced today record-setting silver and gold production from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State for the Fourth Quarter, 2011.

In Q4, 2011, silver production was up 25% to 1,120,780 ounces and gold production was up 45% to 7,045 oz compared to the Fourth Quarter, 2010. Due to the correction in metal prices in the 4th quarter 2011, Endeavour management elected to hold a significant portion of the Q4 silver and gold production in inventory rather than sell at the lower prices. Management plans to monitor the metal prices closely and sell some or all of the silver and gold in inventory at appropriately higher metal prices, or if the need arises for more cash. As a result, the Company sold only 400,000 oz silver and 4,000 oz gold in Q4, 2011 and metal inventories rose to 812,000 silver oz and 3,000 gold oz in...

Lihir Gold profit rises to US$87m despite 2pc revenue slip

Lihir Gold today posted a US$388 million turnaround into prcerro moro gold silver mine santa cruz province argentinaofit, after last year's loss on the back of writing off its Ballarat mine. First-half net profit at Lihir Gold registered at US$87.1m (A$98.3m), from a loss of $US300.9m a year earlier.

The mining company said revenues in the six months to June 30 fell 2 per cent to $US544.9m, from a restated $US555.3m in the previous corresponding period. Lihir said underlying net profit fell to $US142.5m, from $US168m a year before. A consensus of four analysts had expected $US155.5m (underlying profit excludes one-off items). The miner did not propose an interim dividend Lihir. Shares in Lihir rose 0.2 per cent after news of its profits, adding 1 cent to $4.48 after a high of $4.51. The benchmark S&P/ASX 200 was down 0.2 per cent at the same time.

Glencore takes a safety pledge after 18 workers die

The company said that 18 workers had died at its facilities last year and its rate of time lost due tbuy equipment for zenith jaw crusher in europeo injury was more than twice as high as industry leaders such as BHP Billiton and Rio Tinto.

The release of Glencore's first public sustainability report comes four months after it became London's biggest-ever flotation. Publishing the sustainability report is part of the process of Glencore making the transition from private partnership to a traded company. Mining groups need a good record to build their "social licence" - the goodwill that allows them to operate in countries and communities. Mining industry executives have long suspected that Glencore's environmental and safety record has not been of the highest standard and the trader will be under pressure from...

Fortescue Metals Group Announces Signing of Co-operation Agreement

Fortescue Metals Group Ltd advises that it will today sign a Cooperation Agre2012 june cement rate in keralaement with the Chinese engineering group China Gezhouba Group Company (“CGGC”) pursuant to Fortescue’s expansion planning for 95 million tonnes per annum (“Mtpa”) of capacity within its Chichester Hub.

The agreement commits both parties to negotiate and define an engineering and procurement role for CGGC, which would convert to a formal appointment, if mutually acceptable terms can be agreed.

Fortescue is currently well progressed in the implementation of its capital works program to increase production to 55 Mtpa from the Chichester Hub and completion of these works is expected within the March quarter of 2011. Planning for the next expansion phase up to 95 Mtpa is also advanced and the involvement of CGGC will bring benefits in areas such as procurement, engineering and overall project management oversight.

CGGC is one of China’s pre-eminent engineering and construction groups having completed major domestic and international infrastructure projects. CGGC also works closely with China’s export credit agencies and this may create a source of competitively priced finance should this be deemed desirable by Fortescue.

As advised to the ASX on 19 May, the expansion to 95Mtpa will proceed despite the proposed Resource Super Profits Tax (“RSPT”) as it is intended to implement the works program prior to the commencement of the tax in 2012 and noting that the expansion can be financed from internally generated cash flow.

Plans to take Fortescue beyond a 95Mtpa capacity remain on hold due to the RSPT impairment of operating cashflows that are required to support a separate project financing facility. There are certain conditions precedent to the CGGC Agreement being converted to an award including amongst others, Fortescue Board approval.

Central Rand Gold raises full year production

Central Rand Gold says it reduced its loss by 78% to US$16.1 million for the year ended December 201manufacturer of cone crushers in india1, from $72.1 million in the previous year, and basic and diluted loss per share of 1.01 cents for the year from a loss of 4.51 cents per share previously.

The company said the reduced loss was due to increased gold sales achieved "predominantly" from surface pits, improved plant availability, higher plant recovery and a stronger average realised rand price. Gold output increased to 14,856 ounces from the 9,321 ounces produced during 2010, while surface mining cash operating costs were reduced by 26% to an average of $1,115/oz, due to the discovery of additional surface materials with better strip ratios, better grades, resized employee headcount, metallurgical process optimisation, and renegotiated material and service contract rates. CRG said the Department of Mineral Resources had returned its mining rights, unopposed, after the company...

Mining firm 'almost certainly' victim of corruption

The president of what was one of the biggest copper mining companies operating in the Democratic Republic omaintain belt coneyor in mining plant pdff Congo (DRC) has said his firm was "almost certainly" the victim of corruption. First Quantum Minerals of Canada was the single largest taxpayer in the DRC last year and a major employer. It had invested close to $1bn (£625m) in the country since 2001.

But relations with the government have soured, and its operations were repossessed. One of its biggest mines at Kolwezi has since been resold to a rival international mining company, ENRC. The repossession followed a process in which the government of the DRC reviewed all mining contracts in the country to see if they were fair. Many had been signed during what is sometimes described as Africa's "World War" between 1998 and 2003. But First Quantum insists its operations were set up a year later. "Our contract at Kolwezi was openly and transparently negotiated and was measured for fairness by the World Bank who entered the project as a partner through the International Finance Corporation," says the company's president Clive Newall...

Bolero Acquires Rare Earth Element Claims in British Columbia

Bolero Resources Corp. wishes to announce the acquisition of 13 mineproductivity of gyratory crushing plantral claims covering over 11,620 acres of lands highly prospective for Rare Earth Elements and previously owned as part of Spectrum Mining Corporation’s “Wicheeda” Rare Earth Element discovery (British Columbia, Canada). The new claims are contiguous to Bolero’s existing claim blocks and cover extensions to airborne radiometric anomalies identified from Bolero’s recently flown Aeroquest airborne survey.

One of the two primary anomalies indentified correlates with Bolero’s previously announced, Rare Earth Element soil assays, (maximum concentrations of Cerium (Ce) and Lanthanum (La) to as high as 1205 ppm and 663 ppm respectively) while the other anomaly of equal magnitude remains to be fully assessed on the ground. Bolero is currently in negotiations on additional claims that were also previously held by Spectrum.

New Map Link: http://www.boleroresources.com/docs/carbonatite_syndicate_claims.pdf

Bolero Resources’ President and CEO, R. Bruce Duncan, stated “Bolero has secured multiple strategic claims, previously held privately by Spectrum Mining, located on-trend with the “Wicheeda” REE discovery. Of this package, 1873 hectares comprises approximately 42% of Spectrum’s original southern tenure. Not only does Bolero now have the largest contiguous land package in the area but, the acquisition of these new claims brings Bolero’s property border within 400 metres of known, mapped carbonatite structures containing highly anomalous Rare Earth Elements including: Ce, Nb, Ba, Zn and Sr. With drill permits now in place, Bolero anticipates the timely commencement of a multi hole drill program designed to test existing and newly acquired anomalies on up to 3 separate drill sites.”

YTC raises $25 Million

YTC Resources Limited today announced that it has resolved to raise approximately $25 million before costs, through the crusher machine introductionplacement of 44 million ordinary shares at $0.57 per share. The capital raising received strong support from a number of the company’s institutional shareholders and has also allowed the introduction of a number of new international and domestic institutional investors to the YTC register.

The raising provides YTC with continued funding to aggressively evaluate the expanding copper discovery at Nymagee and a strong financial capability to advance the integrated Hera-Nymagee Project. YTC’s CEO, Rimas Kairaitis said, “With the Nymagee copper discovery rapidly unfolding into a major discovery, YTC are very pleased to secure strong support for this capital raising, enabling the Company to continue its aggressive exploration programme including substantial shallow and deep drilling. The funding also places the company in a very strong financial position as it moves to advance the integrated Hera-Nymagee Project”

Vedanta's Konkola Copper in Zambia ups output 28%

London-listed Vedanta Resources reported a 28 percent rise in fiscal first-quarter copper oumodern machines for mining goldtput at its Konkola Copper Mines (KCM) in Zambia and said feed grades were improving at the company's tailings plant.

Vedanta said on Friday that production rose to 55,000 tonnes in the quarter to end-June this year versus a year ago. KCM's EBITDA (earnings before interest, tax, depreciation and amortisation) more than doubled to $72.1 million, mainly due to recovering commodity prices, it said in a statement, which did not give sales figures. Mine development at the Konkola Deep Mining project, which the government says is Africa's deepest mine, is on schedule after KCM commissioned a mid-shaft loading station in March this year, Vedanta said.

Brierty sees upside, despite downgrade

Civil and mining contractor Brierty has warned its full-year profit is likely to stone crushing plant manufacturersbe significantly less than expected because of a dispute over contract payments with two customers and write offs in work in progress on other projects.

The company said following a review of its contracting book last week, it expected full year net profit after tax would be in the range of break even to $750,000. This compares with previous guidance of $5 million. Brierty said the disputes would be resolved via formal arbitration but it had decided to adopt a conservative position and make appropriate writedowns. However the company said it believed it was in a strong position in relation to the disputed amounts and would continue to pursue its full entitlements. Brierty's recently appointed chief executive Peter McBain said the company was poised for very strong revenue and earnings growth in 2012, with budgeted revenue for the year of $250 million...

Ivory Coast Gold Miners Have Post-War ‘Passion,’ Group Says

About 30 companies are exploring for gold in Ivory Coast and a fourth miner is expecting to beginmachinery for lime stone products production in the next two years, said Michel Mian, head of the Professional Miners’ Group of Ivory Coast. Investors have developed a “passion” for the industry following the end of a 4 1/2-month post-election crisis, Mian told reporters in Yamoussoukro, the capital, today.

“A lot of investors have come to request a license to explore,” he said on the sidelines of an industry conference. The West African nation may have 200 metric tons (7.1 million ounces) of gold reserves, he said. Randgold Resources Ltd., Cluff Gold Plc and Newcrest Mining Ltd. (NCM) have gold mines in Ivory Coast and had their operations disrupted during the conflict that followed a November presidential election. Former President Laurent Gbagbo refused to cede power to Alassane Ouattara, sparking violence that left about 2,000 people dead, according to the United Nations. Adama Toungara, who was named by Ouattara on June 1 as minister for mines, oil and energy, said yesterday Ivory Coast plans to triple production of gold from the current 7 tons annually over the next four to six years. That goal is “totally sensible,” said Mian. “The companies will have to carry out an aggressive campaign to rapidly find deposits,” he said...

Newmont confident Peru will approve Conga mining project

Richard O’Brien, CEO of Newmont Mining Cortechnical specification of ball millporation, said he is confident the Peruvian government would approve the proposed Conga mining project.

The $4.8 billion project has been delayed due to strong opposition by locals, who fear the mine would affect local water supplies. The protests, O’Brien said, were headed by a regional politician who was unhappy with the Humala administration. "The president supports the mining and the Conga project. It is an important investment for the company and the country. The president knows that social inclusion depends on new revenue," O’Brien said. “[Humala] wants the project to continue,” he added. He said that Newmont and its Peruvian partner Buenaventura were able to...

PNG Gold and New Guinea Gold Merger Update

PNG Gold and New Guinea Gold jointly announce that they have executed a binding Arrangement Agreement whereby PNG Gold will acquire all the shares of New Guinegold mining most important equipmenta Gold by way of Plan of Arrangement at an exchange ratio of one NGG share for 0.125 PNG Gold shares. In addition, PNG Gold has agreed to assist NGG with the critical and immediate cash shortfall announced in NGG's press release of February 29 by lending New Guinea Gold up to $2.5 million, in advance of the Arrangement being completed.

The Arrangement is presently expected to close shortly after April 12th 2012, depending on the timing of satisfaction of certain conditions precedent. The NGG Shareholders meeting to consider the Arrangement will be held on April 12th, 2012. The Arrangement must be completed by May 31, 2012 or either party will have the right to terminate the Arrangement Agreement. The reduction in the previously announced Exchange Ratio of one NGG share for 0.175 PNG Gold shares was necessary to reflect the increased risk now associated with the Arrangement due to the interruption of operations at...

Mali says gold to add record $340 mln to '10 budget

Gold mining detected gold mineral deposits technology and devicewill contribute a record high of 166 billion CFA francs to Mali's budget this year, the West African country's President said on Wednesday, up from 130 billion francs in 2009.

Mali, the continent's third biggest gold producer after South Africa and Ghana, is trying to develop its mining industry to take advantage of high metals prices on world markets. Mali's annual government income is estimated around $1.5 billion.

Australian Mines Expect Weekend Strikes

Rolling strikes are expected to hit BHused crushing plants for sale in uaeP Billiton Ltd. and Mitsubishi Corp.'s Blackwater coking coal mine in northeastern Australia starting late Friday and then move on to six other mines, as the planned protest by unionized workers runs through next week, the mining giant and a union official said.

Strikes are also planned for the night shifts Saturday and Sunday and select shifts next week, ending with a strike at the Goonyella Riverside operations Thursday, said Stephen Smyth, district president of the Construction, Forestry, Mining and Energy Union. CFMEU is one of three unions representing more than 3,000 workers locked in employment contract talks with the BHP-Mitsubishi Alliance. The action follows a series of six-hour strikes held by workers at six mines in Queensland state earlier this month. The companies and unions are deadlocked over demands for equal pay for contract workers and employees and a say by union representatives in recruitment, among other things. A spokeswoman for Melbourne-based BHP Billiton has said...

First rescue capsule arrives at Chilean mine

The first of three rescue capsules specially built toenvironmental impacts of limestone mining in northeast india lift out 33 miners trapped since early August arrived at the mine Saturday. Two back-up rescue devices constructed at Chile's naval shipyard are expected to be delivered next week. The man-size capsule will be used to pull the miners out one by one once one of the three rescue holes being drilled reach the men.

The government says that should happen by early November or earlier if all goes well. Mining Minister Laurence Golborne showed off the first capsule to relatives of the trapped miners Saturday. Golborne and about a dozen family members tried out the capsule, a 924-pound (420-kilogram) tube made of steel mesh and sheets that is big enough to hold one person. The capsule is nearly 10 feet (three meters) tall on the outside. Inside, the space is 6 1/4 feet (1.90 meter) high and about 21 inches (53 centimeters) across.