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Kumtor gold mine pay $2.5 million in back taxes
A court in Kyrgyzstan has ordered the Canadian-controlled company that operates the Kumtor gold mine to pay almost $2.5 million in back taxes.
The November 17 verdict confirms a ruling made by the same Bishkek court in April. A court representative, Toraga Isabekov, accused the mining entity, Centerra, of “purposefully dragging out the resolution of this […]
Uranium Mine Producer, Cameco Corp. Takes Stake in Niger Uranium Explorer
Cameco Corp., the world’s top uranium producer, said Friday it will take an 11 per cent stake in closely held Govi High Power Exploration Inc. for $28-million (U.S.) and team up with the company to explore for uranium in Niger.
The deal will also give the Canadian company the right to acquire a further 10 per […]
Mining Exploration Company, Cameco Announce Q2 Earnings
Saskatoon-based Cameco Corporation’s net earnings declined 27% year on year to C$150-million, from C$205-million a year earlier, the company reported on Thursday.
After stripping out once-off items, Cameco posted adjusted net earnings of C$142-million, 30% lower than in the second quarter of 2007.
Profit was affected by lower uranium sales volumes, which more than offset higher realised […]
Uranium Mine Exploration, Kazakhstan Targets Top Spot in Uranium Production
Kazakhstan, the world’s third- biggest uranium miner, plans to overtake Canada and Australia by boosting output of the radioactive metal as much as 43 percent next year as new production starts up.
The country wants to become the world’s biggest producer of uranium, Mukhtar Dzhakishev, the president of the state-run mining company Kazatomprom, told reporters in […]
Central African Mining Reported Result of Mine Exploration Project
Strong revenues from cobalt and copper production helped diversified mining company Central African Mining and Exploration Company (CAMEC) more than double profits.
The company posted pre-tax profits of £54.2m in the year to March 31, compared with £22.4m on revenue that jumped to £96.6m from £69.3m.
Between February and April 2008, revenues generated by the copper and […]
The Big Mining Exploration Company Rio Tinto Sell Kintyre Uranium Mine Project
RIO Tinto has offloaded its Kintyre uranium project in Western Australia for close to $515 million as it continues its asset-disposal program.
The exploration project, said to have potential deposits of up to 80 million pounds of uranium, has been bought by a consortium comprising Cameco of Canada and Mitsubishi of Japan.
As soaring oil prices and […]
Cameco Corp. and Japan’s Mitsubishi Corp Sign Agreement Acquire Mine Exploration Project in Western Australia
Canada’s Cameco Corp and Japan’s Mitsubishi Corp said on Thursday they will jointly acquire Kintyre uranium exploration project in Western Australia from Rio Tinto Ltd for $495 million.
Cameco will take a 70 percent interest in the project for $346.5 million while the Japanese trading house will acquire the remaining stake through its Sydney-based […]
Australian Mine Exploration, Cameco Corporation Sign Agreement Acquire Uranium Mine Exploration Project at Western Australian
Mining Exploration News, Cameco Corporation has signed an agreement to acquire a 70% interest in the Kintyre uranium exploration project in Western Australia for $346.5 million (US).
A joint venture comprised of Cameco (70%) and Mitsubishi Development Pty Ltd (30%) purchased the Kintyre project from Rio Tinto for $495.0 million (US) through a bidding process. Cameco […]
Central African Mining Reported : Coal Mining Discovery in Mozambique
Central African Mining (CAMEC) has reported a ’significant’ coal discovery in Mozambique, which it says will help the company profit from current high prices for the commodity.
The first phase of a drilling programme in the southern African country’s Tete region delineated around 195m tonnes of coal, CAMEC said.
“We are greatly encouraged by the initial results […]
