Rio Tinto is to invest in its Canadian aluminium smelters to improve production efficiency through modernisation and expansion. The bulk of this new investment – US$758 million – will be spent on completing the first phase of the AP60 plant in Saguenay–Lac-Saint-Jean, Quebec. Rio Tinto will also invest an additional US$300 million for further construction in preparation for the US$2.5 billion modernisation of the Kitimat smelter in British Columbia.
The proposed Olympic Dam expansion has come under scrutiny not just by the mining industry but also environmentalists.
Zimbabwe is thinking of nationalizing all mines. The government of Zimbabwe has plans to nationalize 100% of alluvial diamond mining and 51% of other minerals as per the Indigenization and Empowerment Minister Saviour Kasukuwere.
The first ore from Cairn Hill mine has arrived in Port Adelaide for shipment. The iron ore from the northern South Australia mine is due to be sent to China. The consignment weighs 62,000 tonnes and has been loaded for its journey.
By Joel Scanlon
14 Dec 2010
Ivanhoe Mines has approved a capital budget of $2.3 billion to continue the construction at its gold and copper mine at Oyu Tolgoi in Mongolia.
Rare earth metals producer Molycorp Inc has obtained the required permit to start developing a mining and manufacturing centre in California. The $531 million facility in Mountain Pass will see the company break ground on January 2, 2011.
By Joel Scanlon
14 Dec 2010
Brazilian mining group MMX Mineracao e Metalicos S.A. (MMX) has decided to invest 5 billion Brazilian Reais (US$2.9 billion) to expand its operations. The company's board has approved the investment in two iron ore mining projects both of which are located in Brazil.
By Dr. Cameron Chai
14 Dec 2010
Copper Mountain Mining Corporation announce assay results from 20 diamond drill-holes completed in the Oriole and Rifle areas of the Copper Mountain project, where a major drill program continues.
Rainy River Resources Ltd. (TSX VENTURE:RR) and Northern Superior Resources Inc. (TSX VENTURE:SUP) has announces the discovery of significant gold bearing mineralization intersected during the Companies initial diamond drilling program on Target 3 of their TPK Joint Venture project, 190 km northeast of Pickle Lake in Northern Ontario.
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) has announced its most recent drill hole (DDH-14), targeting the La Cantera prospect, cut two substantial intervals of porphyry and breccia containing high levels of gold and copper.
African Copper Plc (AIM:ACU)(BOTSWANA:AFRICAN COPPER), the AIM-listed copper producer and exploration company, currently focused on Botswana, announces receipt of a Mining Licence from the Botswana Government for its Thakadu copper-silver deposit some 80 km from the Company's Mowana Mine in the north east of the country.
Fronteer Gold (TSX:FRG)(NYSE Amex:FRG) reports it has intersected wide intervals of high-grade, oxide gold to the west of the resource area at its wholly owned Long Canyon deposit, and that aggressive step-out drilling to the northeast is well underway.
Kivalliq Energy Corporation (TSX VENTURE:KIV) today announced high grade assays results from drill hole 10-NE-001.
Orbit Garant Drilling Inc. (TSX: OGD) today announced the acquisition of Morris Drilling Inc.
Yale Resources Ltd. (TSX VENTURE:YLL) (FWB:YAB) has announced the acquisition of a 100% interest in the 400 hectare Apache Property, located approximately 150 kilometres north of Hermosillo, Sonora State, Mexico.