In a historic first, the government of British Columbia, Canada has agreed to share taxes collected from a new mine with the aboriginal people who are the traditional land owners of the region where the mine will be located.
The Indian Government has blocked the plans of Vedanta Resources to mine bauxite from the Niyamgiri hills sacred to local tribes.
Origin Energy (ASX:ORG) wishes to build a multi-billion dollar LNG plant with partner ConocoPhillips. The liquefied natural gas plant is one of almost a dozen scheduled to start up in Australia by the year 2016.
As the signs of financial recovery continue to affect the mining industry OZ Minerals presented a net profit for the six months ending 30 June 2010 at $405.7 million. A marked improvement compared to the $580.7 million loss it reported in the corresponding period last year.
Speculation over who is likely to make a bid for PotashCorp is growing with bids from Rio Tinto and a Chinese partner being considered as likely candidates.
The ban on open pit mining in the Philippine province of South Cotabato will be pushed through unless a court issues a restraining order or if local lawmakers craft a new directive. Gov. Arthur Pingoy Jr. said.
By Joel Scanlon
24 Aug 2010
Yukon government regulators have granted a water license to Alexco Resource Corp for its Bellekeno underground mine.
Brazil's Vale, the second-largest mining company in the world, had been seen as a possible saviour for PotashCorp but on Monday Vale denied that it was in talks to acquire the Canadian fertilizer company.
Lihir Gold Limited (ASX: LGL), a gold company with operations in Papua New Guinea, Australia and West Africa, has accepted the takeover bid offered by Newcrest Mining as shareholders have voted unanimously in favour of the bid.
With Iran expanding its uranium base as per the International Atomic Energy Agency, the United Nation’s Security Council has imposed a fourth round of economic sanctions on the country. It has also brought forth a strong international reaction especially from the French.
By Joel Scanlon
23 Aug 2010
Deep Yellow Limited (ASX:DYL), an Australian listed emerging uranium explorer with African and Australian projects, has announced its new drill results which have found additional significant uranium intercepts at the Tubas Alaskite project in Namibia.
Mining tax woes for the industry seem far from over. With no clear winner emerging after the elections there is grave uncertainty over how the tax will eventually end up being framed and passed. This is causing mining majors to tread with extreme caution.
Boart Longyear Ltd (ASX:BLY), the world's largest drilling services provider has announced that its net profit for the period ending June 30 was $US32.7 million. This comes after a $US5.4 million loss in the corresponding period last year.
Good news came for the relatives of the 33 Chilean miners who have been trapped underground for 17 days. The rescue probe which drilled down to 688 meters in the San Jose gold and copper mine made contact with the miners who sent back a written message tied to the probe saying "all 33 of us are well inside the shelter".
By Joel Scanlon
23 Aug 2010
The proposed mining law review in South Africa may help calm down the fears of investors and the worries of mining companies. Rumours of mining concession rights battles and nationalization of mines have been doing the rounds all of this year.
By Joel Scanlon
22 Aug 2010