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Australian Treasurer Says Resource Boom Will Bring Huge Opportunities

Australian Treasurer Wayne Swan said on Tuesday that the investment needs and demand for capital for the country are set to grow proportionately with the resources boom. For this reason Australia will have huge opportunities for foreign investment. The Treasurer was speaking to the International CEO Forum in Canberra.

15 Jun 2011

Quia Resources Commences Drilling at San Lucas Property

Quia Resources has started drilling at its San Lucas property in Colombia and has reported a ground magnetic survey and a 10 km induced polarization results.

15 Jun 2011

Astra Mining Confirms Frankfurt Exchange Listing

Astra Mining, an Australian diversified mining company, has confirmed its intention to list on the Frankfurt Stock Exchange at an Extraordinary General Meeting held today.

15 Jun 2011

Survey Finds Carbon Tax Will Cost Mining Jobs in New South Wales and Queensland

The debate over the proposed Carbon Tax continues to gather steam as a new survey released on Tuesday by the Australian Coal Association shows that mining jobs in New South Wales and Queensland will be affected by it.

14 Jun 2011

Kazakhmys Gets $1.5 Billion Loan from China to Develop Aktogay Copper Project

Kazakhstan based metals producer Kazakhmys has been approved for a $1.5 billion loan by the China Development Bank. This will allow it to develop its huge Aktogay copper project situated in eastern Kazakhstan.

14 Jun 2011

Anti-Mining Activists Settle West Virginia Lawsuit

Anti-mining activists in West Virginia have been told in no uncertain way that they can no longer go climbing trees and chaining themselves to mining equipment. The activities used to protest at coal mines formerly owned by Massey Energy will now be brought to an end. The permanent injunction issued by US District Judge Irene Berger will see to that.

From Massey Energy Corporation 14 Jun 2011

Hecla Mining to Settle Superfund Lawsuit for $263.4 Million

The Hecla Mining company has been ordered to pay $263.4 million plus interest to settle the Superfund lawsuit after nearly two decades. The lawsuit was first filed by the American Indian tribe of Coeur d’Alene in 1991. They were joined by the federal government in 1996 and later by the state government of Idaho.

From Hecla Mining Company 14 Jun 2011

Clifton Star Resources Receives Updated NI 43-101 Complaint Report for Donchester Property

Clifton Star Resources has obtained an updated NI 43-101 compliant resource estimate report from Peter Bevan, for the Donchester property that belongs to the Duparquet Gold Project in southwestern Quebec, which is functioned under a joint venture agreement with Osisko Mining.

14 Jun 2011

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

Newcrest Flying Workers from East to West Coast to Fulfil Staffing Needs

Newcrest Mining is using ‘Fly in, Fly out’ labor for its Telfer mine in Western Australia. The workers are being sourced from the east coast instead of from Perth. The move signals a new beginning to the mining industry’s approach to employing workers.

From Newcrest Mining Limited 13 Jun 2011