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COAL

Prophecy inks coal supply deal Restricted

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Prophecy Coal, which mines the fuel in Mongolia, on Thursday said it signed a contract to supply 22 100 t to a local direct reduced iron plant, with the possibility to increase this to 300 000 t/y. The TSX-listed company said the agreement set a...
By: Matthew Hill
24th May 2012
 
 
ILLEGAL MINING

Rescue sensors deployed at N Cape mine to find survivors Restricted

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A specialist mine rescue services proto-team has installed a trapped persons location device at diamond miner De Beers’ Bontekoe mine, in Kleinzee, in the Northern Cape, to locate trapped illegal miners. Mine rescue teams were attempting to...
By: Idéle Esterhuizen
24th May 2012
 
 
IRON ORE

Second Take: West Africa iron-ore Video Available Restricted

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Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about West Africa emerging as the next Pilbara.
By: Creamer Media Reporter
24th May 2012
 
 
TUNGSTEN

NTC posts Q2 profit, pushes to increase Cantung mine life Restricted

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TSX-V-listed North American Tungsten (NTC)on Wednesday reported a second-quarter net profit of $2.5-million, or 1c a share, compared with a loss of $8.8-million, or 4c a share, during the comparable period in 2011. The tungsten concentrate...
By: Henry Lazenby
24th May 2012
 
 
CAPITAL EXPENDITURE

Renard predevelopment starts with $28.4m budget Restricted

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TSX-listed diamond junior Stornoway Diamond Corp on Wednesday said it had allocated a predevelopment budget of $28.4-million to develop Quebec’s first diamond mine, the Renard project.
By: Henry Lazenby
24th May 2012
 
 
GOLD-URANIUM

Olma to make 'concrete proposal' to First Uranium by weekend Restricted

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First Uranium shareholder Olma Investments plans to submit a “concrete proposal” to the board of directors by Friday laying out an alternative to the asset sales the gold and uranium producer has announced, head of equities at the wealth...
By: Matthew Hill
24th May 2012
 
 
ALUMINIUM

China's top aluminium province idles plants as demand slows Restricted

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China's top aluminium-producing province has idled about 700 000 t of capacity in recent months, a senior industry official said, further evidence that slower growth in the world's No. 2 economy is denting the country's appetite for commodities....
By: Reuters
24th May 2012
 
 
COAL

China Shenhua says plans to buy assets from controlling shareholder Restricted

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China Shenhua Energy Co Ltd, the country's largest coal producer, said it plans to acquire assets from its controlling shareholder including equity interests in or assets of China Shenhua Coal Liquefaction and Chemical Co Ltd and Shaanxi Shenyan...
By: Reuters
24th May 2012
 
 
CORPORATE ACTIVITY

Macquarie urges Coalworks investors to oust chairman, CEO Restricted

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Macquarie Bank on Thursday urged investors in Coalworks Ltd to oust their chairman and chief executive, a move Coalworks fears will make it easier for Whitehaven Coal Ltd to succeed with a A$172-million ($167-million) hostile bid. Macquarie,...
By: Reuters
24th May 2012
 
 
GOLD

Caledonia inks two more indigenisation deals for Blanket Restricted

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TSX- and Aim-listed Caledonia Mining said two further agreements have been signed in respect of the transfer of 20% of its Blanket mine, in Zimbabwe, to two indigenous Zimbabwean trusts. The company said that the agreements had been made in...
By: Idéle Esterhuizen
24th May 2012
 
 
 
 
 
 
 
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