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Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Subsidiary of Rio Tinto Cancel Aluminum Mine Exploration Investment in Saudi Arabia
A subsidiary of global mining giant Rio Tinto Group said Wednesday it is pulling its investment out of a $7 billion Saudi Arabian aluminum project due to the weakening global economy.
Rusian Mining Exploration Company, Russia’s Norilsk Nickel Stretches From Arctic to SA, US to Australia
In July 2007, a Canada-domiciled mining company was acquired by a Russian group for $5,2-billion. That company was LionOre, and it had assets in Southern Africa – an 85% share in Tati Nickel, in Botswana, and a 50% stake in Nkomati Nickel, in South Africa.
LionOre’s buyer was the giant Russian mining and metallurgical group, OJSC [...]
Gold mining returns to Arctic as Miramar prepares Doris North site
Gold is returning to the North as Miramar Mining readies a site along Canada’s Arctic coast for the first new gold mine development in a generation.
“It’s a great opportunity to see it coming back,” said Larry Connell, Miramar’s environmental manager.
Crews are now quarrying rock near the Vancouver-based company’s Doris North deposit in Nunavut and at [...]
Pan African Mining Corp.’s Sakoa South Coal Project Greenlighted by Malagasy Government
PAN AFRICAN MINING CORP. is pleased to announce that it has now received full environmental permitting from the Malagasy Government to commence exploration and development of its interests in the Sakoa South Coal deposit. The Company holds Research Permits covering 64 squares, which represents an area of approximately 400 sq. km., in Southwest Madagascar. It [...]
Canadian Stocks Fall as Crude Oil Prices Slide; Encana Retreats
Canadian stocks retreated for the first time in five days, as falling oil prices signaled that profits at energy companies such as EnCana Corp. may decline in the event that demand drops.
There’s hesitation on commodity prices — no one has a handle on where they are going, and they may be subject to further weakness,” [...]
Mining exploration spending soars to record
Spending on mineral exploration in B.C. climbed to a record $265 million in 2006, nearly $200 million of that invested in north and central B.C., according to figures released by the province Friday.
It beats the previous record high in 2005 of $220 million, which was the most spent on mineral exploration in B.C. in nearly [...]
Australian States Should End Uranium Mining Bans
Australian Prime Minister John Howard said the nation could lose out from the surge in demand for uranium unless regional governments ended their bans on new mines for the nuclear fuel.
The boom in nuclear plant building, with 251 new reactors under construction or planned worldwide, provided a “timely opportunity,” Howard said in a statement today [...]
