Mining giant Rio Tinto has reached agreement with the government of Guinea over a proposed joint venture for development of the Simandou iron ore project in the southern part of the country.
Rio Tinto's subsidiary, Simfer, is to pay $700m to the Guinean Public Treasury upon promulgation of Presidential Decrees granting Simfer's mining concession and the approval of the proposed Simandou joint venture set up by state-owned Chinese almuminium company Chalco and Rio Tinto.
Hochschild Mining has reported that production at its main mine silver and gold in Argentina has stopped due to industrial action after the Argentine Mining Labour Association went on strike at the San Jose facility due to a dispute over pay increases for contract workers.
The San Jose mine is 51%-owned by Hochschild, with the remainder belonging to Minera Andes. It accounted for half of Hochshild’s production in the first quarter of this year. Hochschild indicated that it would 'keep the market informed of developments as they occur'.
Rambler Metals & Mining has received regulatory approval for its Nugget Pond Crown Pillar project with contractors preparing to mobilize for open pit developments and first production planned for May 2011.
The company also announced that its Tilt Cove East Mine Project has been released from Environmental Assessment with irst comments received from the Department of Natural Resources on the Development Plan.
The project is expected to begin in June 2011 with first production immediately following the Nugget Pond Crown Pillar as George Ogilvie, President and CEO added that the news was exciting. 'The success of these operations further strengthens our belief that the Baie Verte peninsula will be host to numerous profitable deposits.'
Mark Parker, who founded Nickel miner African Eagle Resources, is giving up the role of managing director in recognition that his skill is best suited to the exploration phase of the company’s development. The board has begun a search for a new chief executive officer.
African Eagle is also selling non-core assets to focus on the Dutwa project, although progress on selling its copper portfolio in Zambia has been 'slower than anticipated'. The board intends to float its copper business later in the year.
Mining company Tri-Star Resources has reported a loss of just under £1.5m for the year ended 31 December 2010 after incurring administrative costs on re-admission on Aim. T he board decided not to recommend a dividend payment.
Source Link:http://www.ukcitymedia.co.uk/news/fullstory.php?id=1826
Rio Tinto's subsidiary, Simfer, is to pay $700m to the Guinean Public Treasury upon promulgation of Presidential Decrees granting Simfer's mining concession and the approval of the proposed Simandou joint venture set up by state-owned Chinese almuminium company Chalco and Rio Tinto.
Hochschild Mining has reported that production at its main mine silver and gold in Argentina has stopped due to industrial action after the Argentine Mining Labour Association went on strike at the San Jose facility due to a dispute over pay increases for contract workers.
The San Jose mine is 51%-owned by Hochschild, with the remainder belonging to Minera Andes. It accounted for half of Hochshild’s production in the first quarter of this year. Hochschild indicated that it would 'keep the market informed of developments as they occur'.
Rambler Metals & Mining has received regulatory approval for its Nugget Pond Crown Pillar project with contractors preparing to mobilize for open pit developments and first production planned for May 2011.
The company also announced that its Tilt Cove East Mine Project has been released from Environmental Assessment with irst comments received from the Department of Natural Resources on the Development Plan.
The project is expected to begin in June 2011 with first production immediately following the Nugget Pond Crown Pillar as George Ogilvie, President and CEO added that the news was exciting. 'The success of these operations further strengthens our belief that the Baie Verte peninsula will be host to numerous profitable deposits.'
Mark Parker, who founded Nickel miner African Eagle Resources, is giving up the role of managing director in recognition that his skill is best suited to the exploration phase of the company’s development. The board has begun a search for a new chief executive officer.
African Eagle is also selling non-core assets to focus on the Dutwa project, although progress on selling its copper portfolio in Zambia has been 'slower than anticipated'. The board intends to float its copper business later in the year.
Mining company Tri-Star Resources has reported a loss of just under £1.5m for the year ended 31 December 2010 after incurring administrative costs on re-admission on Aim. T he board decided not to recommend a dividend payment.
Source Link:http://www.ukcitymedia.co.uk/news/fullstory.php?id=1826
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