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Sector News

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US

Asarco sues Sterlite over collapsed 2008 deal

US copper miner Asarco LLC said on Friday it has filed a lawsuit against one-time suitor Sterlite Industries Ltd, after the Indian resources company backed out of a $2,6-billion deal to take Asarco out of bankruptcy in 2008. Asarco, which exited...
20th March 2010
 
GOLD

Eldorado Gold posts $33,3m profit, plans Brazil iron-ore output

Vancouver-based Eldorado Gold, which bought Australian rival Sino Gold late last year, earned $33,3-million in the fourth quarter of 2009, compared with $28,2-million a year earlier. Eldorado currently produces gold from three mines in China and...
20th March 2010
 
MEXICO

Grupo Mexico shuts San Luis Potosi copper smelter

Grupo Mexico said on Friday its copper mining subsidiary Southern Copper Corp had closed its copper smelter in San Luis Potosi, Mexico. Grupo Mexico said in a filing with the U.S. Securities and Exchange Commission that all 300 workers at the...
19th March 2010
 
EXPLORATION

Tirex closes C$1m private placement, ready to start 2010 drill programme

Vancouver-based explorer Tirex Resources has completed a C$1-million private placement, the firm said on Friday. Tirex's main asset is the Mirdita volcanogenic massive sulphide project in Albania.
19th March 2010
 
ACCIDENT

Sierra Leone minister denies mine collapse

Sierra Leone's minister of mineral resources Alpha Kanu denied on Friday that at least 200 people were killed when a mine collapsed, contradicting an earlier statement from his own ministry. The ministry had said 200 miners died when a trench...
19th March 2010
 
BRITISH COLUMBIA

Taseko could get Prosperity govt approval late Q3

Vancouver-based Taseko Mines could get federal government approval for its Prosperity gold/copper project, in British Columbia, near the end of the third quarter this year, executives said on Friday. By that point, Taseko expects to have secured...
19th March 2010
 
CHINA

China monetary tightening won't crimp metals - SocGen

Monetary tightening in China, the world's largest metals user, will have little impact on consumption and the country will continue to drive metals demand for years, David Wilson of Societe Generale said on Friday. "We really believe it...
19th March 2010
 
CHILE

Chile mulls raising mining royalty after quake

Chile is studying whether to ask miners to pay more taxes voluntarily as the world's top copper producer seeks funds to rebuild areas ravaged by a massive earthquake, the author of the proposal said on Friday. The 8.8-magnitude quake on Feb. 27...
19th March 2010
 
GOLD

Wits Gold reports positive De Bron scoping study results

Gold exploration company Witwatersrand Consolidated Gold Resources (Wits Gold) announced on Friday that it had completed a scoping study on its De Bron project in South Africa's Free State province. The company said that it had received positive...
19th March 2010
 
DEBT

Agnico-Eagle will issue $600m of notes to pay down debt

Toronto-based Agnico-Eagle Mines will sell $600m of guaranteed senior unsecured notes in a private placement, and plans to use the proceeds to reduce the outstanding amounts on its credit lines, the gold-miner said on Friday. The notes are due in...
19th March 2010
 
GOLD

Alamos could see first Turkey production early 2013, eyes more deals Video Available

Alamos Gold CEO John McCluskey Fast-growing Alamos Gold could start gold production from newly-acquired assets in Turkey by early 2013, CEO John McCluskey said on Tuesday. The company is also looking for further gold acquisitions, and will consider both development-stage and...
17th March 2010
 
GOLD

TWP to build, own, operate Zimbabwe gold plant Video Available

Project house TWP is building a gold plant in Zimbabwe on a build, own and operate (BOO) basis as part of a toll treating agreement with African Consolidated Resources. TWP CEO and Basil Read executive director Nigel Townshend tells Mining Weekly...
15th March 2010
 
MINING INVESTMENT

Basil Read may hive off mining into separately listed entity – CEO Video Available

The mining division of the JSE-listed Basil Read construction group may be hived off into a separately listed entity, Basil Read CEO Marius Heyns said on Friday. Heyns told Mining Weekly Online that the company was working on a strategy to...
12th March 2010
 
GOLD

Randgold Resources speeds up Gounkoto project, slows Massawa Video Available

Randgold Resources CEO Mark Bristow Nasdaq- and LSE-listed Randgold Resources plans to start construction later this year on its high-grade Gounkoto project, in Mali, and could pour the first gold early in 2013, CEO Mark Bristow said on Wednesday. Randgold produces gold from the...
11th March 2010
 
M&A

'Patient' buyers can wait out reluctant sellers Video Available

Ernst & Young Canadian mining and metals leader Tom Whelan A lot of the mining industry, particularly juniors, still has a very conservative attitude towards merger and acquisition activity, Ernst & Young Canada mining leader Tom Whelan said on Wednesday. A lot of predictions have been made this week as...
11th March 2010
 
GOLD

Barrick spin-off may be start of industry 'right-sizing' - Bristow Video Available

Barrick Gold's plan to spin-out its African assets into a new, London-listed company could be a sign of things to come, as gold majors look for ways to realise value from increasingly large and diverse portfolios, Randgold Resources CEO Mark...
11th March 2010
 
AFRICA

DRC could rank with Ghana, Tanzania in 10 years – Banro chair Video Available

Banro Corp chairperson Simon Village Investors will become increasingly comfortable with mining in the Democratic Republic of Congo, which has the potential to become the largest gold producer in Africa, Banro Corp chairperson Simon Village said on Tuesday. “I believe the DRC,...
9th March 2010
 
NICKEL

Liberty Mines expects sharp production ramp-up at Ontario nickel mine Video Available

Liberty Mines CEO Gary Nash TSX-listed Liberty Mines, which is 51% owned by China's Jilin Jien Nickel Industry, expects to see a sharp increase in output at its McWatters nickel mine, in Ontario, CEO Gary Nash said on Monday. Has a second mine, Redstone, and it plans to...
9th March 2010
 
CANADA

Canadian miners ramp up PR campaign against controversial bill Video Available

Anti-C-300 'Anti-C-300' pamphlets, buttons and large signs are everywhere at this year's the Prospectors and Developers Association of Canada's (PDAC's) annual convention, as Canadian mining industry groups turn the heat up in efforts to block the...
9th March 2010
 
GOLD & SILVER

Rob McEwen sticks with $2 000/oz gold by year-end Video Available

Goldcorp founder Rob McEwen is standing by his forecast that the price of gold will reach $2 000/oz by the end of 2010, he said on Monday. While it may still seem a stretch from current levels of around $1 135/oz, it should be noted that McEwen...
9th March 2010
 
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Resources Watch Video
Alamos could see first Turkey production early... Video
TWP to build, own, operate Zimbabwe gold plant Video
Basil Read may hive off mining into separately... Video
Resources Watch Video
Randgold Resources speeds up Gounkoto project,... Video
'Patient' buyers can wait out reluctant sellers Video
Barrick spin-off may be start of industry... Video
TSX-bound Orocobre predicts consolidation,... Video
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Daily podcast – March 19, 2010 Audio
19/03/2010 (On-The-Air) Audio
Daily podcast – March 18, 2010 Audio
Daily podcast – March 17, 2010 Audio
Daily podcast – March 16, 2010 Audio
London Mining expects iron-ore prices... Audio
Daily podcast – March 15, 2010 Audio
Daily podcast – March 12, 2010 Audio
12/03/2010 (On-The-Air) Audio