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.
IronClad Mining Ltd is hoping to get the native title agreement for a new magnetite mine in South Australia. This is the second of four new mines that expect to begin operations by the end of 2010 in South Australia.
By Dr. Cameron Chai
1 Sep 2010
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.
Toronto-based Lundin Mining, a diversified base metals mining company has boosted its copper reserves and resources at its Nerves-Corvo mine in Portugal as per its six monthly update. The Toronto based mining company reported its resource and reserve estimates on June 30 for its European and African mines.
The Singapore Exchange Ltd is considering offering non-ferrous metal futures contracts for trading on its derivitives market.
By Joel Scanlon
31 Aug 2010
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.
By Dr. Cameron Chai
31 Aug 2010
A new study published in the journal, Proceedigs of the National Academy of Sciences, confirms fears that Native Canadians have held for some time relating to the mining of oil sands in Alberta.
By Dr. Cameron Chai
31 Aug 2010
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.
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.
By Joel Scanlon
30 Aug 2010
IMX Resources has finally opened its Cairn Hill Mine located 55 km south east of Coober Pedy. The South Australian Premier Mike Rann officially opened the mine which is being seen as the first of the next generation of iron ore miners in South Australia this century.
By Dr. Cameron Chai
30 Aug 2010
Gold is glittering in the country as the Australian production of the precious metal rose to a six year high in the June quarter.
By Joel Scanlon
30 Aug 2010
After Vedanta was refused permission by the ruling Congress Party Government to set up a bauxite mine in the Niyamgiri Hills it has begun scouting for alternative locations. Rahul Gandhi having placed the last nail in the coffin for the plan on 26 August with his statement.
The Environment Protection Coalition set up by Earthjustice, the Environmental Integrity Project and the Sierra Club, have scrutinized coal waste disposal across 21 states in the U.S. to come up with their survey.
By Dr. Cameron Chai
30 Aug 2010
In response to the Indian Government’s actions Vedanta Aluminium has stopped the expansion of its alumina refinery at Lanjigarh in Orissa.
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.