Galaxy Resources has been forced to call off its listing on the Hong Kong Stock Exchange due to the unfavourable market conditions. The shares of the lithium mining have since fallen to $1.14, Tuesday midday (AEST). The Australian listed company was hoping for a dual listing in Hong Kong this quarter.
Solid Energy is the state owned mining company that may buy the Pike River coal mine. The mine, at which 29 bodies of men trapped after an explosion in November 2010 are yet to be recovered, has been in receivership with Pricewaterhouse Coopers.
Protests against ‘fly-in fly-out’ workers intensified in north Queensland with the Moranbah Action Group involving nearly 400 people in a weekend rally south west of Mackay. The protesters included miners, families and business owners living in the Bowen Basin region. The march on Saturday started at the Moranbah Community Workers Club and ended in the Town Square.
The McArthur River mine (MRM) owned by Xstrata may soon double its zinc and lead output if all goes to plan. However Xstrata must spend $900 million in order for the mine to remain viable. The doubling of the zinc - lead concentrates from the mine will be not easy for the world’s largest bulk producer of Zinc concentrate.
Brazos International Exploration (BRZL), completes due diligence for the proposed acquisition of Renfro Energy, a Dallas- based independent oil company with significant oil and gas assets in Cameron Parish, Louisiana.
The Environment Protection Agency in the U.S. is may have to adhere to a deadline of 60 days for mining permit approvals if some law makers have their way. U.S. Reps. Hal Rogers of Kentucky and Shelley Moore Capito of West Virginia have brought in a Mining Jobs Protection Act into the House that will help protect Appalachian coal miners.
Rio Tinto has increased its offer for Riversdale Mining by 3% in a bid to break the shareholder standoff that has ensued after it made its first bid. The offer period has also been extended until April 1, 2011, the third time that it has been extended.
An area of land surrounding the Los Amoles Property has been applied by Yale Resources through land staking.
Sonora Resources has announced the expansion of its Los Amoles property size by an additional 1,960 hectares through land staking.
The intersection of a wide zone of mineralization grading 3.15 g/t Au over 21.5m including 9.78 g/t Au over 2m and 9.31 g/t over 2.5m in VL-11-250 located at the Leprechaun Gold Deposit has been declared by Marathon Gold and Mountain Lake Resources.
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