NovaGold Resources released a prefeasibility study today on its 100%-owned Ambler project in northwest Alaska. The Vancouver-based company is exploring the sprawling 36,670-hectare property, which is host to a number of high-grade copper, zinc, lead, gold and silver deposits.
According to the PEA, commissioned by SRK Consulting, the property contains 16.8 million tonnes of indicated resources, with 4.1% copper and 6.0% zinc. The inferred category contains 12.1 million tonnes of 3.5% copper and 4.9% zinc.
Glencore International plc plans to raise up to $12.1 billion in a London and Hong Kong IPO, according to a term sheet seen by Reuters on Thursday, cashing in on a resources boom and giving the trading giant the fire power to grow through acquisitions.
The much anticipated initial public offering, set to value the company at up to $60 billion, will mark the end of four decades of closely guarded privacy for the world's biggest commodities trading company.
Vancouver-based Mercator Minerals has acquired Creston Moly Corp. in a stock and cash deal amounting to C$195 million, Mercator announced Tuesday in a press release.
Under the arrangement, Creston shareholders will receive 0.15 of a Mercator common share and $0.08 in cash, for each common share of Creston — representing a respective 43% and 40% premium on the companies' share prices as of market close on Friday.
The Peruvian government has cancelled a billion-dollar copper mining project near Arequipa, Peru, after clashes between police and protesters left three dead […]
As the extent and depth of its low-grade gold project Cerro Maricunga grows, so follows Atacama Pacific Gold's (TSX-V: ATM) shareprice.
Since the start of the year the latter has climbed from around $3 a share to just over $5 as Atacama released a slew of drill intercepts outlining three, semi-contiguous areas of gold mineralization at Cerro Maricunga, 100-km northeast of Copiapo, Chile
South African miner Metorex (MTXJ.J: Quote) said on Monday that if there were any other serious offers to acquire it aside from one launched by Brazil's Vale (VALE5.SA: Quote) it would have to consider them.
"If there are other serious and 'firm' offers for Metorex, the company has a duty to consider them and will of course consider any such offers in the best interests of its shareholders," Metorex CEO Terence Goodlace said in an e-mailed response to questions submitted by Reuters.
Moly Mines Limited (TSX:MOL)(ASX:MOL) is pleased to announce it has been advised by Hanlong Mining Investment Pty Ltd ("Hanlong"), that the China Development Bank ("CDB") has approved US$500 million in project finance facilities to develop the Spinifex Ridge Molybdenum / Copper mine.
CDB have agreed to expand their commitment from the US$250 million, announced on 1st February 2011, to US$465 million and make available US$35 million in further working capital facilities to meet Hanlong's US$500 million financing commitment to Moly Mines. A formal commitment letter is expected to be issued by CDB within the next two weeks.
Gunmen killed two workers on Thursday at Freeport-McMoran Copper & Gold Inc's giant gold mine in Indonesia's Papua, a province with a simmering separatist movement.
A Freeport company spokesman said the shooting by unidentified gunmen, which left the car the two workers were in a blazing wreck, did not affect production at the world's largest gold mine.