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Goldcorp Inc. to Buy Andean Resources Ltd. for $3.5 Billion

Goldcorp Inc. has agreed to buy Andean Resources Ltd. for $3.5 billion. The second largest Canadian gold producer exceeded a rival offer made five hours earlier to gain control of an Argentinean mine. The shares in Andean Resources also rose to Canadian $6.98 on the Toronto stock exchange before a trading halt was announced.

6 Sep 2010

Kinross Gold and Red Back Mining Look to Merge to Exploit African Gold Deposit

Kinross Gold Corp is hoping that Red Back Mining’s Tasiast mine located in the African nation of Mauritania is going to be substantially bigger than it is today. That is why it is asking Institutional Shareholder Services to back its friendly combination with Red Back Mining Inc.

From Kinross Gold Corporation 3 Sep 2010

Call to Ban Prosperity Mine Proposal Gaining Momentum

The call to reject the Prosperity Mine proposal has received strong support from the Union of British Colombia Indian Chiefs in Canada. It is also supported by the Tsilhqot'in Nation, Esketemc First Nation, Canoe Creek Band and the Northern Shuswap Tribal Council.

From Taseko Mines Limited 3 Sep 2010

Philex Mining Looks to Invest $5.2b in Philippino Gold Project

Philex Mining Corp is looking to investment $5.2 billion in the Tampakan project in the Philippines. In a disclosure made by the COO and President Jose Ernesto C. Villaluna Jr to the Philippine Stock Exchange he mentioned that the company is constantly looking at all investment opportunities.

2 Sep 2010

Ascot Resources Hoping to Drill Near Mount St Helens Volcano

Ascot Resources, a Canadian mining company is hoping to drill near Mount St. Helens to determine if it is a viable site for mining minerals. The site is about 12 miles from the volcano.

From Ascot Resources Ltd. 2 Sep 2010

Mali Looks to Attract More Mining Investment with New Mining Code

The Mali government is hoping to attract new investments in the mining industry with its new mining code.

2 Sep 2010

Medusa Mining Profits Up as Gold Production Increases

Medusa Mining has reported its full year net profit at a record 131% up at $65.8 million. The Philippines mine operator has seen its revenue increase by 121% to $94.6 million thanks to the increased production and higher sale price for gold. The production boost at its flagship Co-O mine has contributed in a large way to its financial records.

From Ten Sixty Four Limited 1 Sep 2010