Mining Business News

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Rio Tinto Eyes Equinox Minerals

Rio Tinto may be focusing on Equinox Minerals as a takeover target. The mining giant is said to be looking at small to medium sized new acquisitions may be happy to get the pure copper play as per analysts at the Royal Bank of Scotland.

From Rio Tinto plc 16 Feb 2011

Australia Loses $60 BN in Mining Revenues

Australia will collect about $60 billion less in mining tax over the next ten years than previously predicted thanks to the changes made in the proposed mining tax last year prior to the elections. The treasury figures say that the original unhampered tax would have collected Australian $99 billion between the financial years of 2012/13 to 2020/21.

16 Feb 2011

Edgewater Exploration Bags 90 Year Mining Leases from the Galician Government

Mr. George Salamis, President and CEO of Edgewater Exploration Ltd. (TSX VENTURE:EDW)(OTCQX:EDWZF) has reported that the company has received 90 year mining leases from the Galician Government authorities covering the known gold resource on the Company's 100% owned Corcoesto Gold Project in Galicia, Spain.

16 Feb 2011

Estrella Gold, Cliffs Natural Resources to Explore Iron Oxide Copper Gold Deposits in Peru

Estrella Gold Corporation (TSX VENTURE:EST) has announced it has signed a Formal Agreement with Cliffs Natural Resources Exploration Inc. establishing an exploration alliance to explore for Iron Oxide Copper Gold deposits in southern Peru.

From Cleveland-Cliffs Inc 16 Feb 2011

Rambler Metals and Mining Updates on its Active Projects

Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) has provided an update on a number of its active projects.

16 Feb 2011

Canadian Arrow Mines Discovers New Nickel Sulphide Lens at Kelex Project

Canadian Arrow Mines, Ltd. (TSXV: CRO) has reported the discovery of a new nickel sulphide lens at its Kelex nickel project located 17 km south of Iroquois Falls, Ontario.

From Tartisan Nickel Corp. 16 Feb 2011

Arabian American Development Updates on Al Masane Al Kobra Mine

Arabian American Development Co. (Nasdaq: ARSD) announced today that the Al Masane Al Kobra mine, in which Arabian American is a 41% equity owner, has received the first US$38 million (SR141 million) payment related to a permanent loan from the Saudi Industrial Development Fund.

From Trecora 16 Feb 2011

Northland Resources, Metso Enter Agreement for Kaunisvaara Iron Ore Project

Northland Resources S.A. (TSX:NAU)(FRANKFURT:NPK)(OSLO:NAUR) has announced that today, an agreement between Northland and Metso AB was signed for the long-lead items for the Tapuli process line and basic engineering for the Process Plant System for the Kaunisvaara Project.

16 Feb 2011

Redhill Resources Completes Scoping Study for Development of Deflector Deposit in Gullewa Project

Redhill Resources Corp., (TSX VENTURE:RHR), announces that Mutiny Gold Ltd. (ASX:MYG), operator and optionee of Redhill's wholly owned Gullewa Copper-Gold Project, has informed Redhill that it recently completed a scoping study for development of the Deflector deposit, located within the Gullewa Project area in the South Murchison region of Western Australia.

16 Feb 2011

GoGold Resources Seeks to Buy All Outstanding Securities of Mexico Gold Holdings

Terry Coughlan, President and CEO of GoGold Resources Inc., announces that the Company today has signed a binding letter of intent to acquire all of the issued and outstanding securities of Mexican Gold Holdings Corporation Incorporated, a Canadian company, by way of security exchange.

16 Feb 2011