Revenue report and company advantage of the biggest mining company of world, Rio Tinto, gives a real big hope at mining exploration. In reporting improvement of advantage is caused the increasing of demand from China for mining exploration result products.

Net profit for the six months to June 30 climbed by 112.5 per cent on the corresponding period the previous year, to $US6.91 billion ($A8.01billion), underpinned by higher prices and production, particularly from iron ore.
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U.S. Energy Corp. a natural resources exploration and development company with interests in molybdenum, uranium, oil and gas, gold, and real estate, today announced that it has entered into a definitive Exploration, Development and Mine Operating Agreement for its Lucky Jack molybdenum property, located in Gunnison County, Colorado, with Thompson Creek Metals Company Inc., one of the world’s largest publicly traded, pure molybdenum producers. Under the terms of the agreement, which are valued at up to $400 million, Thompson Creek has the right to earn up to a 75% interest in the project.
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Canada’s biggest diversified mining company has made a major shift away from metals to coal.

Teck Cominco Ltd.’s $14-billion (U.S.) offer for Fording Canadian Coal Trust - the largest coal sector deal in history - amounts to a major bet by Teck on continued strength for the commodity, which is used to make steel and is fetching record prices.
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Inmet said Tuesday it earned $67.7 million or $1.40 a share for the three months ended June 30. That compared with earnings of $138.1 million or $2.86 a share for the same 2007 period. Gross sales fell 12 per cent to $281.5 million from $320 million.

Inmet said net profits in the quarter were hurt by lower zinc prices, which cut sales by $53 million. The company’s bottom line was also affected by $18.6 million in foreign exchange losses, while the 2007 quarter benefited from a $12 million investment sale gain.
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London Mining Plc rose the most in two weeks in Oslo trading after the company doubled its estimated iron-ore resources in Brazil and a newspaper reported Tata Steel Ltd. may pay $2 billion to buy the assets.

The shares advanced 9.4 percent, the biggest gain based on closing prices since April 23. Tata Steel may buy the assets to secure raw materials for its Corus Group Plc unit, India’s Business Standard reported today.
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Based Full Metal Minerals Ltd. kicked off its industrious exploration work planned for 2008 in late April, with drilling on the company’s 40 Mile project in east-central Alaska on land optioned from Interior Alaska Native corporation Doyon Ltd.

Full Metal, one of Alaska’s aggressive junior exploration companies with nine different properties spread throughout the state, announced April 22 the start of drilling exploration on key targets located with a large land package optioned from Doyon.

Using two core drill rigs operating this spring on the 40 Mile property, Full Metal plans to complete almost 50,000 feet of samples from CRD (carbonate replacement deposit) targets containing high grades of zinc and silver. Read more » »

Discovery Metals Limited announces a further 46% increase in the Total Inferred Resource within the Company’s 100% owned Maun Copper Project in North-West Botswana.

The latest increase follows the definition of an Inferred Mineral Resource of 14.5Mt @ 1.3% Cu and 12.6 g/t Ag, at a cut-off of 0.6% Cu, at the Plutus Prospect within the Maun Project. It means that during 2007, the total Inferred Mineral Resources for the Maun Project have now been increased by 130% (from an initial 20 Mt @ 1.2% Cu).
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BHP’s (BHP.AX) proposed bid for rival Rio Tinto (RIO.AX) and the rise of emerging market players, particularly China, will force further consolidation in metals and mining, industry experts told a conference this week.

At least three more transactions worth over $50 billion are likely by June, Ernst & Young’s Partner in Charge for Global Mining and Metals, Michael Lynch-Bell, told the Mines and Money conference in London.

China, India and Russia are likely to play a key role in coming merger and acquisition activity as they seek greater access to raw materials to keep up with their booming economies.
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The industrial metals market rebounded Thursday as investors set aside concerns about sluggish U.S. economic growth and shifted their focus to China’s increasing hunger for raw materials.

Commodities prices rose broadly, with gains in energy, precious metals and agricultural products.

China said Thursday its economy grew a buoyant 11.5 percent in the third quarter, down slightly from the previous quarter’s 11.9 percent growth. Although the modest dip had some economists estimating that China’s expansion has peaked, commodities analysts suggested the country’s double-digit growth rate will continue to fuel strong demand for raw materials.
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Canadian platinum mining firm, Platinum Group Metals, has announced the latest update in its mineral resource estimate for the Western Bushveld Joint Venture. The company has reported 7.3 million ounces of platinum, palladium, rhodium and gold in the measured and indicated category, representing an increase of 18 per cent compared to the firm’s previous estimate. Platinum Group Metals also reported a further 1.2 million ounces have been discovered in the inferred category.
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