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close up tire wheels mining

Newcrest suspends Ivory Coast gold ops on security issues

Newcrest said in a brief announcement today that it has suspended operations at the Bonikro gold mine "as a precautionary measure" and evacuated expatriates to neighbouring Ghana. This is not the first time Bonikro has had to be closed - a mine gained late last year with the takeover of Lihir Gold with its much larger prize of the Lihir Island gold project in Papua New Ginea.
Mineweb | March 31, 2011 | 6:56 am
finance hand pen charts

Newmont’s Indonesia unit planning IPO for H2 2011

Newmont Nusa Tenggara, a unit of U.S. gold miner Newmont Mining Corp , plans to launch an initial public offering in the second half of this year, said Martiono Hadianto, the firm's president director, on Tuesday.
Mineweb | March 30, 2011 | 7:29 am
tractor tread mining

Ecuador expects $7bn in gold, copper projects in the next 7 years

Ecuador expects companies including Canada's Kinross Gold to invest $7 billion in gold and copper projects in the next seven years, as the OPEC member tries to diversify its economy by encouraging mining. Natural Resources Minister Wilson Pastor said on Tuesday five projects will be signed in the next few months.
Mineweb | March 30, 2011 | 6:49 am
mining thinking pondering

Copper remains BlackRock’s most favoured base metal

Copper is the most favoured base metal in BlackRock's $17 billion World Mining Trust, fund manager Evy Hambro said on Tuesday, with the demand and supply outlook keeping prices of the metal resiliently high. At just under 20 percent, copper is the single largest weighting on a pure commodity basis in the fund, Hambro told an Association of Investment Companies roundtable in London.
Mineweb | March 30, 2011 | 6:49 am
Peru Country flag mining

Southern Copper postpones $1bn Tia Maria project

Southern Copper, one of the world's largest producers of the metal, has postponed its $1 billion Tia Maria mining project in Peru because of social conflicts, Chief Executive Oscar Gonzalez said on Tuesday. The company (SCCO.N: Quote) will revise the project's viability later this month and consider alternative sites in Argentina and Ecuador in the meantime, Gonzalez told local television.
Mineweb | March 30, 2011 | 6:49 am