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Call for Stronger Military Presence in Australia's Mining Regions

Is the mining industry affecting the Defence Forces’ ability to protect Australia? The cash strapped Defence Department seems to think so as it regularly loses skilled workers to the more affluent mining companies operating in the country.

1 Feb 2012

Lincoln Mining Announces Private Placement

Lincoln Mining is hoping to set up a non-brokered private placement for $300,000. The company listed on the Toronto Stock Exchange is looking to sell 4,000,000 units priced at $0.75 each.

From Lincoln Mining Corporation 31 Jan 2012

Legacy Iron Ore Seeks Funds for Mt Bevan Development

Legacy Iron Ore is currently looking for $200 million to fund the mine development at its flagship project called Mt Bevan. The iron ore project is situated nearly 100 km to the west of Leonora in central Yilgarn region.

30 Jan 2012

Fortescue Metals Eagerly Awaits Approval for 5th Berth at Port Hedland

Fortescue Metals Group is hoping that the government approval for a fifth berth at Port Hedland will come in by next month.

From Fortescue Metals Group Ltd 30 Jan 2012

Vale SA Hit with $5.6 Billion Tax Bill

Brazilian mining giant Vale SA, has been charged with $5.6 billion in unpaid taxes in Brazil. The world’s largest iron ore producing company plans to lodge an appeal against the decision.

From Vale 30 Jan 2012

Caterpillar Beats Earnings Estimate Sees Good Growth in 2012

Caterpillar Inc., the world’s largest producer of construction and mining equipment, saw its fourth quarter earnings rise per share to $2.32 as compared to $1.47 last year.

From Caterpillar 30 Jan 2012

Posco Buys into Roy Hill, Rinehart’s Wealth Soars

South Korean company Posco has decided to buy a 15% interest in the Roy Hill mining project in the Pilbara region. The steel making giant is investing $1.5 billion in the mine owned and operated by Gina Rinehart’s company, Hancock Prospecting.

From Hancock Prospecting Pty Ltd. 23 Jan 2012

Trafford Resources Sells Stake in Robust Resources

Trafford Resources has sold its 5.89% stake in Robust Resources. This has brought in nearly $7.4 million cash for the company from the sale of its 5.3 million shares at the rate of $1.40 per share.

23 Jan 2012

Zambia Seeking to Gain from Booming Mining Sector

Zambia is looking to realise greater profits from its mining industry. The Mines Minister Wilbur Simuusa was speaking to mine supplier and contractors at the Chingola mine club when he said that in terms of mineral resources they were the richest nation and yet they were counted amongst the poorest nations in the world.

19 Jan 2012

Lundin Mining Reports Copper Production Increase

Lundin Mining Corporation declared that its fourth quarter copper output was up by 10%. The company produced 27,488 tonnes of copper in the final quarter of 2011.

From Lundin Mining Corporation 17 Jan 2012