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Canada Stocks Rise for Seventh Day on Gold Companies Profits
Canadian stocks rose for a seventh day, the longest rally in 11 months, as three of the country’s four largest gold producers by market value beat earnings estimates.
Barrick Gold Corp., the world’s biggest producer of the metal, gained 3.3 percent after announcing it will spin off its African operations. Kinross Gold Corp., the country’s third- [...]
UK Firm To Raise $450 M For Tanzania Nickel Project
African Eagle Limited will seek an equity partner to finance an up to $450m nickel project in Tanzania, and could sell some of its existing copper and gold projects to raise funds.
In a press note, the company said a bankable feasibility study and business plan for the Dutwa nickel project in Tanzania, the company’s main [...]
Mongolian Finalised Mining Investment Agreement for Copper-Gold Mine Project This Month
An investment agreement for the long-delayed Oyu Tolgoi copper-gold mine project in Mongolia will likely be finalised this month when the matter is discussed in that nation’s parliament.
Tanzania Govern. Mining Firm More To Pay Tax
The Government plans to review its taxation structure in this year’s national Budget to get especially the mining companies to pay more, the Finance minister says.
Mr Mustafa Mkulo, the Minister for Finance and Economic Affairs, who is visiting neighbouring Mozambique, told The Citizen by telephone from Maputo yesterday that the review would particularly target the [...]
Albidon hedges Zambia nickel output
Australia’s Albidon Ltd has locked in high nickel prices for the first years of its flagship Munali project in Zambia, its managing director said.
Albidon is seeking to expand regional exploration, with exploration projects in four other African countries.
Construction is underway on the company’s Munali underground nickel mine, which is due to produce its first concentrate [...]
NovaGold Second Quarter Financial Results and Project Update
NovaGold Resources Inc.today announced its financial and operating results for the three months ended May 31, 2007, along with an update on the Company’s project development activities. Details of the Company’s financial results are described in the unaudited consolidated financial statements and Management’s Discussion and Analysis which, together with further details on each of the [...]
Congo court acquits Anvil employees
A MILITARY court in Democratic Republic of Congo acquitted three former employees of Australian mining company Anvil Mining Ltd today of complicity in war crimes by government soldiers in 2004.
“All of those accused of war crimes, including the former Anvil mining agents have been acquitted. The charges of war crimes were found to have been [...]
Xstrata Extends Offer for LionOre
Xstrata plc announces the extension of the expiry time of its all-cash offer to acquire all of the LionOre Mining International Ltd. (”LionOre”) shares to midnight (Vancouver time) on 28 June 2007. Following Xstrata’s decision not to match the offer made by OJSC MMC Norilsk Nickel (”Norilsk”) to acquire all of the LionOre shares, LionOre [...]
Camec in £100m bid for Australian uranium miner
Camec, the African-mining group run by the former England spin bowler Phil Edmonds, has targeted expansion in the booming market for uranium after launching an offer for OmegaCorp that values the Australian miner at nearly £100m.
Uranium prices have surged 20 per cent to $113 a pound over the past week, the highest level since the [...]
