Superior Diamonds Inc. (TSX VENTURE:SUP.V - News) (”Superior” or “the Company”) and Forum Uranium Corp. (”Forum”) are pleased to announce that the North Thelon Joint Venture has acquired an additional 34,892 hectares, expanding the total area in the Joint Venture to 101,562 hectares. The North Thelon Joint Venture occurs in the vicinity of the Kiggavik-Sissons Project, held by AREVA Resources Canada Inc., which contains the largest uranium resource in Nunavut. The Thelon Basin is largely regarded today as being one of the most prospective regions in the world for uranium exploration and virtually no exploration has been carried out to look for uranium deposits below the Thelon sandstone. Read more » »

URSA MAJOR MINERALS INCORPORATED ACQUIRES NICKEL-COPPER PROPERTY ON WORTHINGTON OFFSET DIKE, SUDBURY AREA, ONTARIO.

Ursa Major Minerals Inc. has signed an option agreement to acquire a 100-per-cent interest in a nickel-copper exploration property on the Worthington offset dike, located in Lorne township, 40 kilometres west of Sudbury, Ont.

Ursa Major’s option covers 1.2 kilometers of strike length of the Worthington offset dike. This dike extends for approximately 12 kilometres from the Sudbury igneous complex and is the host to several nickel-copper mines and deposits. Read more » »

The cost of building BHP Billiton’s Ravensthorpe Nickel Project in southern Western Australia has blown out by more than $1 billion.

BHP says the budget for building the laterite nickel operation and expanding a refinery west of Esperance has been increased to $2.7 billion.

It has blamed increased capital costs and a skilled labour shortage.

The project has also been delayed, and is not expected to produce nickel until early 2008.

Regency Mines plc (AIM: RGM) has made a promising nickel acquisition in Papua New Guinea and achieved promising results from copper gold exploration in Queensland, the company reported today in its final audited results year to 30 June 2006.

In May, Regency acquired a 75 p.c. interest in a 584 sq km exploration license covering the Mambare Plateau in Papua New Guinea. Read more » »

A new-look county commission wasted no time before setting up a showdown over the county’s extra nickel gas tax.

The board unanimously voted Monday to set a public hearing Jan. 8 to consider an ordinance to repeal the controversial tax that adds a nickel to each gallon of gas sold in Nassau County.

But no matter which way the board votes, the gas tax will remain in effect at least another year in Nassau County. State deadlines to repeal the tax by 2007 have already passed.
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Brazilian base metals producer Votorantim Metais (VM) is seeking to buy nickel concentrates on the open market to enhance its own nickel production, a company official said Wednesday.

“We are seeking to buy 4,000 tonnes per year of nickel sulfide concentrates for use at our Fortaleza de Minas nickel matte plant,” a senior commercial official with Votorantim Metais said. He did not want to be identified. Read more » »

BHP Billiton Ltd., the world’s biggest mining company, said the Ravensthorpe nickel project will cost 64 percent more and take as much as a year longer to develop, delaying supplies at a time of near-record prices.

Lower-than-expected labor productivity and late delivery of materials and equipment to the West Australian project will increase costs to $2.2 billion and delay the start to the first quarter of 2008, the Melbourne-based company said in a statement to the Australian Stock Exchange.
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There’s good news for the city of Iron Mountain.

The city’s latest audit shows a substantial increase in the city’s general fund balance. Three years, it had a balance of $120,000. Today, it stands at more than $1.2 million.

“It’s responsible, it’s good fiscal management, and the city has for the last three years been moving in that direction,” says Mayor Ken Tousignant. Read more » »

Export Inspection Council (EIC) today said it has signed an agreement with the Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), China to check the quality of iron ore being exported to China from India.

The agreement was signed between the two agencies during Chinese President’s recent visit to India, EIC said in a release. Read more » »

In a major climbdown, the steel ministry has agreed to maintain status quo with respect of iron ore exports. The ministry has informed the committee of secretaries (CoS) on export of iron ore that a thorough study should be undertaken to access demand and supply projections of steel and iron ore before taking any decision on curbing exports.

In the earlier meetings of the CoS, the steel ministry maintained a tough stand to restrict export of iron ore with a time-bound programme to eliminate exports of high grade ore to protect the interest of the growing domestic steel industry. In fact, it also suggested the committee to bring down categorisation of high grade ore from present 64% iron content to 62% for bringing in exports restrictions. Read more » »