HudBay Minerals posted some big gains in its fourth-quarter and year-end financials, the Toronto-based miner reported on Wednesday. Net earnings in Q4 2010 more than tripled to $24.5 million, compared to $7.2 million in the fourth quarter of 2009. Year-end numbers were also impressive, with net earnings of $73 million — a 475% increase over 2009 after adjusting for gains on the sale of investments, the company stated.

Eric Lam, writing in The Financial Post, reports on junior companies that are tapping a rich vein of investor interest in Hong Kong […]

Romarco Minerals is continuing to identify mineralization at the Haile Gold Mine in South Carolina. The company's latest drill results show continued growth in the mineralized system, which is open in all directions and at depth: Drilling between South Pit and Ledbetter continues to identify mineralization between the two proposed pits. RCT-49 returned 31.8 meters of 17.3 g/t gold, including a high-grade intercept of 7.6 meters of 66.9 g/t gold.

Ernst & Young mining analyst Tom Whelan said he expects an "ultracompetitive M&A market" this year, Peter Koven writes in The Financial Post. Speaking at the PDAC conference, Whelan said the focus will be on "frontier" markets like Mongolia and West Africa.

Lung-blackening pollution and Arctic isolation have not stopped Russian mining giant Norilsk Nickel from attracting graduates to work in its mines. Andrey Ostroukh, writing for Reuters, describes how nickel and palladium mining have transformed this former Gulag town into a thriving city of 210,000.

New Gold had their best year in 2010, with increased production and declining costs resulting in record earnings and cash flow, the B.C.-based company said on Friday. Consolidated revenue for the year was $530 million compared to $324 million in 2009, which the company attributed to higher production rates and elevated gold prices. Earnings from mine operations jumped 129% to USD$203 million, compared to $89 million in the previous year.

Vancouver-based Monument Mining Ltd. is moving ahead with a Phase 3 expansion plan for its Selinsing mine and gold treatment plant in Malaysia. The expansion includes an additional milling, gravity and leach circuit. The expansion will lift the treatment plant capacity from 400,000 tonnes per year to 1 million tpa.

China may have dominated mining news headlines over the past year, but it is a small player when it comes to mergers and acquisitions, according to a report released today from PwC. The Mining Deals report states that in 2010, just 6% of global mining involved purchases by Chinese companies, compared to 36% from companies domiciled in Canada, 16% in the US and 16% in Australia. The numbers appear to dispel the myth that China is amassing control of the world's resources by merging and acquiring firms into its orbit.

Equinox Minerals Ltd. will make a hostile bid for Lundin Mining prior to the markets opening Monday morning, Vancouver-based Lundin announced in a news release on Sunday. "Lundin is not aware of the terms of the bid. Until Lundin Mining completes its review of the bid, it will not comment on the proposal," the release stated. "The Board of Directors of Lundin will update shareholders from time to time following receipt and consideration of the bid. Shareholders do not need to take any action in response to the bid at this time." The unsolicited takeover attempt could thwart the proposed merger between Lundin and Inmet Mining Corp. made public in January.

In October 2010 the Chinese government shut down 1,611 illegal coal mines in an effort to improve an industry whose working conditions have been described as harsh, dangerous, and often fatal. Last year in China more than 2,600 people died in mining-related accidents, including explosions, floodings and cave-ins, although fatalities have decreased in recent years due to increased safety inspections and the government shuttering illegal mines.

Consolidated Thompson's shares dropped two cents to close at $17.11 on Friday after the company announced its shareholders have approved the friendly takeover by Cliffs Natural Resources Inc. Under the deal, made public in mid-January, Cliffs Natural Resources acquired Consolidated Thompson for CDN$4.9 billion (US$4.6 billion) or C$17.27 in cash per common share. The transaction is expected to close in the second quarter.

Pele Mountain Resources has released an NI 43-101 resource estimate for its Eco Ridge uranium and rare earths project in Elliott Lake, […]