After months of anticipation and waiting Rio Tinto finally gets its hands on Riversdale Mining. Having taken control of the company Rio Tinto has moved to delist Riversdale Mining from the Australian Securities Exchange.
Once again the Treasury is warning the Australian government about the danger of inflation over the next couple of years as the resources boom powers yet another high growth year for the mining industry.
President Evo Morales of Bolivia restructured mining, banking and investment laws in the country to increase state control over the economy. The legislation that the congress will draft is to replace 8 current laws that were annulled by the President on a Labor Day event. These laws had been enforced by President Victor Paz Estenssoro in 1985.
Mining contractor NRW Holdings has bagged a contract from Rio Tinto for earthworks and primary civil works in the Pilbara region. The $160 million worth 12 month contract will see work at the Brockman project and the Western Turner Syncline project.
In a new report the International Monetary Fund (IMF) has warned Australia to save the revenue that it is generating from the mining boom in order to deal with the upcoming challenge of handling an aging population.
Ethiopian Potash is constructing a field camp and the camp is getting ready to take delivery of the drill crews by the month end and the company expects to begin the 15,000 meter drilling campaign in early May.
First American Silver has signed a Definitive Lease Agreement with Anthony A. Longo and Pyramid Lake to acquire the Mount Jackson property.
BHP Billiton boss Marius Kloppers feels that the Chief Executive Officers of China’s state owned companies had unrealistic expectation of how quickly you can commission projects in Australia. He added that the failure of mining investments has made the global prices for commodities stay at record levels.
The Queensland Government has come under criticism by a state MP for agreeing to have health care financed by the mining industry. The Queensland Gas company is going to fund the construction of a new satellite renal unit at Gladstone hospital and upgrades to the operating theatre, as announced by Premier Anna Bligh.
In the west African nation of Guinea mining giant Rio Tinto has signed an agreement with the government to construct a new mining port. The agreement was signed by its subsidiary Simfer S.A. According to the deal the company will pay the government US$700 million and gain mining concessions in the country.
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