Australian exploration spending increasing

Ethiopia is set to hit its target of more than doubling mining exports to an annual $1 billion ahead of time, the country's mining minister told Reuters, as it promotes gold extraction, but also fertilizer ingredient potash. Ethiopia, though still reliant on commodities like coffee for revenue, is expected to earn around $500 million from mining exports in the financial year to next July, the minister said. It had targeted doubling that over five years from 2010/11.

Standard & Poor’s has raised its metals price assumptions for 2011 and beyond, citing the increased volatility of the markets but worries […]

Robert Friedland, Chief Executive Officer of Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), issued an operations update today that reports on progress being achieved on the development of principal projects in the portfolios of the parent company and its subsidiaries and associated interests. Key developments: Full-scale construction at Ivanhoe Mines' flagship Oyu Tolgoi copper-gold-silver mining complex is continuing toward a projected peak level of activity that is expected to be reached during the third quarter of this year. The total number of workers engaged at the Oyu Tolgoi construction site has more than doubled since March 1, 2011, as part of the build up to the peak of construction and currently stands at 12,497.

Gold–Ore Resources Ltd. (TSX:GOZ) today released Second Quarter (ending May 31, 2011) production results for the 100% owned Bjorkdal Gold Mine in Sweden. During the second quarter the mine produced 11,131 ounces of gold, an increase of 11% over the first quarter; during the month of May the mine set a new monthly gold production record of 4,208 ounces. The company projects 2011 gold production at 44,000 to 46,000 ounces.

Capella Resources Ltd. (TSX VENTURE:KPS)(PINK SHEETS:CPSJF) is pleased to announce that it has discovered two new mineralization zones at its Lajitas gold-copper project in northern Chile as a result of the recently completed airborne hyperspectral imaging survey by SpecTIR LLC of Reno, Nevada.

South African mining output rebounded strongly in April, rising by 12.4% year-on-year, after contracting 1.4% in the previous month, a report by Statistics South Africa showed on Thursday. Year-to-date production increased by 5.2%, on the back of surging output of nickel, manganese, platinum group metals and copper but gold production continued to lag, only managing a 1.5% increase. Analysts warned that the outlook for the rest of year was clouded by scheduled wage negotiations across the industry that could lead to strikes and a strong currency which hampers competitiveness.

On Wednesday the Vancouver Sun released its list of the highest paid executives in B.C. with several miners making it to the […]

One of Canada's most successful, historic gold mines is poised for a renaissance following a new resource estimate that outlines 1.26 million ounces of gold. The updated NI-43101, filed Wednesday by Ottawa-based PC Gold, says the gold is contained in 10.15 million tonnes of ore averaging 3.9 g/t Au. The deposit has a higher-grade underground component of 1.1 million ounces averaging 5.4 g/t Au, with almost half — 600,000 ounces — contained in high-grade veins grading 9.3 g/t Au. Image by PC Gold Inc.

Zimbabwe's Newsday reports the National Mine Workers’ Union has complained about the working conditions at Chinese-owned chrome and gold mines dotted around the Midlands region, saying they were inhuman and unsafe. At a meeting to commemorate the death of 427 Hwange miners at the Kamandama underground mine in 1972, national organising secretary Cotten Ndlovu said miners at Chinese-run companies were being forced to work long hours without incentives and protective clothing and accused Chinese mining firms of flouting the country’s labour laws.