The Texas based Fluor Corporation has been awarded a contract valued at US$1.3 billion by Minera Lumina Copper Chile S.A. for its new Caserones copper mine project located in central Chile. The Fluor Corporation will del...
By Joel Scanlon
30 Jun 2010
Fortescue Metals Group Ltd chief Andrew Forrest is now feeling confident about reaching a deal over the Resources Super Profits Tax (RSPT) with the Australian Government.
A gold mine collapse in Dunkwa-on-offin in Ghana is said to have trapped 80 miners. The illegal gold mine owner has been held by the local police. He is believed to have hired about 135 people to work on the abandoned go...
By Joel Scanlon
30 Jun 2010
A spate of mining accidents occurring globally in the last six months, have brought the need for change in safety laws to the forefront of the industry in Australia. The mining union wishes to see that that the miners wo...
By Joel Scanlon
30 Jun 2010
Ivanhoe Mines received a financial shot in the arm from Rio Tinto as it bought shares worth US$393 Million to increase its ownership to 29.6% in the company. The funds generated are to be used to start the construction of the Oyu Tolgoi Copper – Gold Mining complex in Mongolia.
SEMAFO has recently reported that it has updated its mineral reserves for its Mana Mine in Burkina Faso to total 1.7 million ounces.
The new Australian Prime Minister Julia Gillard is learning first hand about the pressure that forced her predecessor Kevin Rudd to quit. The mining industry has been after her to 'jumpstart' talks about the proposed mining tax so that negotiations can get underway.
By Joel Scanlon
29 Jun 2010
The new proposed mining law came about after the disastrous explosion at a West Virginia mine operated by Massey Energy Co. on April 5, 2010 and the explosion on April 22, 2010 at Deepwater Horizon oil rig.
Toronto based mining company Spider Resources Inc. received a revised proposal from Cliffs Natural Resources Inc. to obtain Spider Resources' support in an acquisition of the company by Cliffs Natural Resources. This inc...
Rio Tinto seems to be facing problems with alliances and proposed alliances everywhere. A proposed iron ore venture with BHP Billiton Ltd may be voted down by the Rio Tinto Group shareholders as they do not agree to the current terms of payment.
As a storm threatens the cleanup operation of the BP oil spill in the Gulf of Mexico, the boss of the Royal Dutch Shell Company Peter Voser, said that it was unlikely that deep water drilling would be given up by his com...
By Joel Scanlon
28 Jun 2010
Tropical depression Alex is being viewed with some concern by both BP and the US Coast Guard as it moves into the southwestern gulf. Alex is likely to make BP’s clean up drive and oil collection efforts difficult in the Gulf of Mexico.
By Joel Scanlon
28 Jun 2010
If you thought that buying gold was the safest investment that you could make Macquarie Bank interest rate strategist Rory Robertson, would have you rethink that decision. He considered gold a bubble waiting to burst.
By Joel Scanlon
28 Jun 2010
WorleyParsons an Australian engineering company and part of a consortium with the Canadian engineering and construction group SNC-Lavalin issued a statement on Monday saying that it had been awarded a contract to provide Vale’s S11D processing facility with engineering services.
The mining industry does not like the ambiguity that hangs over the new proposed mining tax. The Resources Super Profits Tax which was introduced at 40% by the last Prime Minister Kevin Rudd led to a series of anti tax c...
By Joel Scanlon
28 Jun 2010