Top paid positions at Canadian mines

The National Mining Corporation (NMiC), an Ethiopian private company, announced the discovery of the largest ever gold and base metal reserves in Oromia and Tigray regional states. NMiC estimates that the 550,000 kg gold reserve at Dawa Okote, in Oromia Regional State is worth almost $US 5 billions.

Canada-based RX Exploration has applied for an operating permit to expand a gold and silver mine northwest of Helena after regulatory officials became concerned the company was pushing the limits of its existing permit.

North Korea said Saturday it will issue gold and silver coins to mark the 20th anniversary of late leader Kim Jong-il’s ascension to the supreme commander of the communist nation’s armed forces.

2011 will go down as the year when the wind fell out of the sails of economic recovery and serious storm clouds gathered on the horizon.

If 2010 was the year of rising commodity prices, 2011 was the year of The Deal.

The year of peak construction activity at Oyu Tolgoi mine in the Gobi desert of Mongolia (IM April and May issues this year) is nearing its end, with the project approximately three-quarters complete.

Most commodities, except for the heavyweights gold and oil, are poised for a down year in 2011, the first fall for this sector since the financial crisis hit in 2008.

Australian Laguna Resources (ASX: LRC) has submitted an environmental impact study (EIS) to Chile’s Environment Ministry's evaluation service for its US$300 million Arqueros gold-silver project in the north of the country.