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Indian State of Karnataka Clamps Down on Illegal Mining

Keeping illegal mining under check is turning out to be the next big challenge for the Indian state of Karnataka. The government is also going to install more checkposts and increate investigative squads to check the illegal mining and exports of iron ore.

2 Sep 2010

Medusa Mining Profits Up as Gold Production Increases

Medusa Mining has reported its full year net profit at a record 131% up at $65.8 million. The Philippines mine operator has seen its revenue increase by 121% to $94.6 million thanks to the increased production and higher sale price for gold. The production boost at its flagship Co-O mine has contributed in a large way to its financial records.

From Ten Sixty Four Limited 1 Sep 2010

First Quantum Minerals in More Strife with the Government of the Democratic Republic of Congo

Canadian-based mining and metals company First Quantum Minerals, is facing charges of embezzlement in an investigation opened by the government of the Democratic Republic of Congo. The Canadian mining firm is being allegedly investigated for Tax fraud.

From First Quantum Minerals Ltd. 1 Sep 2010

Singapore Exchange Considers Offering Non-Ferrous Metal Futures for Trading

The Singapore Exchange Ltd is considering offering non-ferrous metal futures contracts for trading on its derivitives market.

31 Aug 2010

Rio Tinto Green Light Iron Ore Joint Venture in Western Australia

Despite the uncertainly over Australia's proposed super mining tax, based on the hung parliament following the elections held on August 21, Rio Tinto, the world's second largest iron ore exporter has given the green light to their iron ore joint venture with Hope Downs Iron Ore.

31 Aug 2010

Banks Look to Distance Themselves from Mountaintop Removal Mining

Banks are looking to distance themselves from activities that they think may damage their reputations and bottom lines. One such activity of mountaintop mining practices.

30 Aug 2010

Mongolian Mining Corp Approved for $1b IPO

The Mongolian coking coal company Mongolian Mining Corp has been approved by the listing committee of the Hong Kong stock exchange. It was formerly known as Energy Resources and runs the Ukhaa Khugdag mine located 245 km from the Chinese border.

30 Aug 2010

Iluka Resources Consider Formation of a Royalty Based Company via IPO

The Perth based company said that it was exploring options to better capture value from its royalty stream from BHP’s Mining Area C tenements in Western Australia as well. The formation of a royalty based company via an IPO and an in specie distribution to shareholders are both being considered by Iluka Resources as of now.

From Iluka Resources Limited 29 Aug 2010

South Africa's Biggest Labor Union Calls for a State Mining Company to Invest in Strategic Minerals

The National Union of Mineworkers (NUM) is in favor of a state mining company to invest in strategic minerals such as platinum, uranium, coal, iron ore and manganese.

26 Aug 2010

Xstrata Make Friendly Takeover Bid for Sphere Minerals

Global mining giant Xstrata has launched a friendly takeover bid for Australian-based Sphere Minerals, valuing them at A $428 million. The iron ore prospector Sphere Minerals is active in Mauritania.

26 Aug 2010