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Draft Mining Tax Released by Australian Government

A draft of the proposed Minerals Resource Rent Tax (MRRT) has been released by the Treasury department of the Australian government. The new tax is a compromise which resulted after Kevin Rudd’s tax was rejected outright by the mining industry. The original resources supertax is what caused the ouster of the former Prime Minister after vehement opposition was seen to the tax proposal.

13 Jun 2011

Capella Resources Finds New Mineralization Zones at Lajitas Project

Capella Resources has identified two recent mineralization zones at its Lajitas gold-copper project in northern Chile through the airborne hyperspectral imaging survey, which was completed recently by SpecTIR of Nevada.

13 Jun 2011

Redhill Resources Announces Deflector Drilling Program at Gullewa Project

Redhill Resources has announced that Mutiny Gold has reported to the company about the completion of infill drilling through the first reverse circulation (RC) drilling program at the Deflector extension zones.

13 Jun 2011

Everton Resources to Start Deep Drilling Program at Ampliación Pueblo Viejo Project

Everton Resources has announced its second drill rig’s arrival to begin the 20,000 m deep-drilling program at the Ampliación Pueblo Viejo (APV) project in the Dominican Republic’s central region.

From Everton Resources Inc. 13 Jun 2011

Cadan Resources Announces Additional Results from Tagpura Porphyry Skarn

Cadan Resources has reported additional results from the resource definition drilling program at its Tagpura porphyry skarn, which is located on its Comval property in Philippines.

10 Jun 2011

Newcrest Downgrades Gold Production for 2011

Australian miner Newcrest has cut its output estimates for gold in the current year. Newcrest Mining said that a power malfunction at the Lihir mine in Papua New Guinea was the reason why they had downgraded the full year gold production guidance from 2.82 million ounces to 2.7 million ounces of gold in 2011.

From Newcrest Mining Limited 9 Jun 2011

Tintina Resources Reports Further Assay Results from Sheep Creek Project

Tintina Resources has announced further initial assay results from the drilling program at its Sheep Creek copper-cobalt-silver property in USA.

9 Jun 2011

Zambia to Sell Stake in Equinox Minerals

Africa’s largest copper producing nation, Zambia, has agreed to sell its stake in 2.28% stake in Equinox Minerals for $160 million. This is part of Barrick Gold Corporation’s unconditional approval for taking over Equinox Minerals.

From Barrick Gold Corporation 8 Jun 2011

NQ Exploration Announces Final Drill Hole Results from Carheil Project

NQ Exploration has released the final two drill hole results from the winter exploration campaign at its Carheil project.

8 Jun 2011

Wesgold Gets Option Over Colombian Mining Property

Vancouver based Wesgold Minerals has acquired an option to buy up to 51% in the Cordoba Property. The Colombian mining property has received an initial 11% investment from Minatura International LLC for a sum of $4 million. The property has prospects for iron, copper and gold mineral deposits. Wegold specializes in acquiring and exploring early stage gold projects.

7 Jun 2011