Mining Business News

RSS

Great Basin Gold Looks to Raise $75 Million for South African Mine

Great Basin Gold Limited is a Vancouver based company that is hunting for funds in Canada to develop its South African gold project. The company needs $75 million capital to move its Burnstone gold mine to full production capacity.

6 Feb 2011

A Good Year for Xstrata

Swiss mining giant Xstrata has had a good year and its record production figures for last year support that claim. CEO Mick Davis is naturally pleased with the results, with increased production in coking coal, semi-soft coking coal, nickel and refined nickel leading the way. The company also saw increases in mined copper, lead in concentrate and ferrochrome.

6 Feb 2011

Xstrata Acquires Cape Lambert's Share of Lady Loretta

Xstrata has acquired the remaining 25% stake from Cape Lambert Resources in the Lady Loretta lead zinc project for $30 million. The deal sees Xstrata as the 100% owner of the mining resource post approvals which are expected in the coming months.

From Cyclone Metals Ltd 6 Feb 2011

Newmont Mining to Acquire Fronteer Gold for $2.3 Billion

Fronteer Gold shareholders will see the world’s second largest gold producing company, Newmont Mining Corporation, take over the company in a Canadian $2.3 billion deal. This will result in a new company called Pilot Gold.

From Newmont Mining Corporation 6 Feb 2011

North Atlantic Resources to Begin 10,000 Metre Drilling at Lankafla Property

North Atlantic Resources Ltd. (TSX VENTURE:NAC) has reported that its wholly-owned subsidiary company in the Republic of Mali, North Atlantic Resources SARL, has completed the Convention d'Etablissement for a new 100% owned, convention called Lankafla.

5 Feb 2011

Sierra Resource Group Secures Financing Needed for Permitting Process to Begin Mining Operations

Sierra Resource Group, Inc. has acquired a financing commitment, which the Company believes will enable it to begin the permitting process that is necessary prior to bringing the mine back into production.

5 Feb 2011

Yukon-Nevada Gold Proposes Additional Working Capital for Expanding Jerritt Canyon Gold Mine

Yukon-Nevada Gold Corp. (Toronto Stock Exchange: YNG; Frankfurt Xetra Exchange: NG6) Robert F. Baldock, the President and CEO of Yukon-Nevada Gold Corp., announces that the Company proposes to raise additional working capital by offering an incentive for the early exercise of eight series of unlisted outstanding share purchase warrants of the Company.

5 Feb 2011

New Agreement to Acquire All Outstanding Shares of American Bullion Minerals

Imperial Metals Corporation (TSX:III), American Bullion Minerals Ltd., ("ABML") and Red Chris Development Company Ltd. has announced they have signed a definitive agreement under which RCDC will acquire all of the issued and outstanding common shares of ABML not presently owned by RCDC.

From Imperial Metals Corporation 5 Feb 2011

SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR Enters Letter Agreement with Aurvista Gold

SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (TSX VENTURE:VIO) (FRANKFURT:VL5) announces that it has entered into a letter agreement with Aurvista Gold Corporation in connection with the acquisition by Aurvista of a 100% ownership interest in the Douay property, located in the Abitibi region of Québec.

5 Feb 2011

Terrace Resources Signs LOI to Buy 87.5% Working Interest in Los Patos Gas Unit

The directors of Terrace Resources Inc. (TSX VENTURE:TZR.P) has announced that the Company has entered into a letter of intent dated January 31, 2011 to acquire an 87.5% working interest and 65.1875% net revenue interest in certain oil gas leases referred to as the "Los Patos Gas Unit" from Eagle Energy and Development Company, a private company incorporated in Texas which is at arm's length to Terrace.

5 Feb 2011