Capstone Mining is ready to spend Canadian $1 billion to acquire new copper assets as it wishes to double its copper output. The Vice President of the company Brad Mercer said on Monday that the company was scouting for new acquisitions to increase its size and scale of copper production.
The Fraser Institute has released its latest Survey of Mining Companies last week. This international survey is conducted annually by the Toronto based institute. It assesses the attractiveness of a particular region to mine investors and operators. The ranking of South Africa fell this year amongst the 79 major mining regions to position 67.
A decision of a South African court to allow miners suffering from lung disease to sue their employers may spell millions of dollars in damages to the mining industry. A recent ruling of the Supreme Court ordered a mining firm in Johannesburg to pay compensation to the family of a dead miner. This overturns a law which prohibited mine workers with lung diseases from claiming compensation.
The Copper output for Zambia in January went up 60% compared to the production in January in 2010. The country is busy increasing its copper production so as to be able to benefit from the strong global price for copper as per the Central Bank of Zambia.
The Parkes Shire Council said that it was happy with the announcement of an elected New South Wales Coalition government committing to a policy of returning financial resources to the mining affected regions. This would translate into thousands of dollars over the next four years in terms of infrastructure projects.
Australia is near the top of the global mining merger and acquisition deals that took place last year as per a PricewaterhouseCoopers report. It is second only to Canada in the number of transactions that it made in the mining industry as a number of Australian firms tried to benefit from the surging minerals market.
Strait Gold Corporation (TSX VENTURE:SRD) has reported that it has initiated the permitting process for an expanded 2011 drilling program at its Alicia copper-gold project in Peru.
Thundermin Resources Inc. (TSX:THR) announces that it has completed a non-brokered private placement financing for $1,007,310 through the issuance of 3,847,270 flow-through units at a price of $0.26 per Unit to accredited investors.
U.S. Silver Corporation (TSXV: USA, US OTCQX: USSIF, Frankfurt: QE2) has announced the successful results of its 2010 exploration program and provide updates and clarifications to some key matters of interest to investors.
Noront Resources Ltd. (TSX Venture: NOT) has provided an updated mineral resource estimate for the Eagle's Nest deposit, located at its McFaulds Lake Property in the James Bay Lowlands.
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