Posts by PR Newswire: Mining:

Yukon-Nevada Gold closes $120 million agreement with Deutsche Bank

Yukon-Nevada Gold announced that it has closed the Forward Gold Purchase Agreement with Deutsche Bank AG. Deutsche Bank has funded a US$120 million prepaid gold forward facility to Queenstake Resources USA, Inc, a wholly-owned subsidiary of the Company. The facility is a forward contract structured to deliver 173,880 ounces of gold over a 48 month term.
PR Newswire: Mining | August 15, 2011 | 12:30 pm

Ukraine to begin commercial gold mining

This year Ukraine will start its own large-scale gold mining, according to the representative of the State Service of Geology and Mineral Resources of Ukraine Eduard Stavyts'kyi. The ministry official confirmed that Ukraine's gold resources have been estimated at 2,500-3,000 tons. The State Service of Geology and Mineral Resources of Ukraine explain the decision to begin mining Ukraine's gold deposits by the radical growth of the world price of gold.
PR Newswire: Mining | August 10, 2011 | 8:46 am

Athena Silver Corporation announces appointment of industry veteran to its board of directors

Athena Silver Corporation (OTCBB:AHNR.OB - News) ("Athena" or the "Company") announced that Mr. LeRoy Wilkes has been elected to serve as a member of the Board of Directors of the Company effective August 1, 2011. "We are pleased to add an industry veteran with the depth of experience of Mr. Wilkes to our Board of Directors," said John Power, President & CEO of Athena. "His knowledge and insight will be invaluable as we plan the development of our flagship Langtry silver project."
PR Newswire: Mining | August 9, 2011 | 2:14 pm

SinoCoking Coal and Coke Chemical Industries, Inc. announces Hongchang and Xingsheng coal mines cleared for resumption of operations

SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) (the "Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today announced that Hongchang and Xingsheng coal mines have been cleared to resume operations at full capacity. The Hongchang mine has been operated by Baofeng Hongchang Coal Co., Ltd., a subsidiary of Henan Pingdingshan Hongli Coal & Coke Co., Ltd. ("Hongli"), which the Company controls through contractual arrangements. Baofeng Xingsheng Coal Mining Co., Ltd. ("Xingsheng"), of which 60% equity interest is now registered to Hongli, has been operating the Xingsheng mine.
PR Newswire: Mining | August 9, 2011 | 12:47 pm

Gahcho Kué clears another environmental hurdle

Mountain Province Diamonds announced on Tuesday that the Gahcho Kué environmental impact study – all 11,000 pages of it – has been cleared and the review process – expected to take another two years – can now commence. Gahcho Kué, a joint venture between Mountain Province and De Beers, is the world's largest and highest grade diamond development project. It consists of a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes grading 1.57 carats per tonne for total diamond content of 49 million carats.
PR Newswire: Mining | August 2, 2011 | 8:27 pm
Caterpillar profit drops for second successive quarter due to weak mining demand

Caterpillar to spend $50 million expanding Fargo remanufacturing plant, adding 250 workers

Global giant Caterpillar Inc. announced on Monday plans to significantly expand its remanufacturing facility in West Fargo, North Dakota. The increased capacity will help meet the strong demand for remanufactured drive train components for large off-highway trucks and other mining equipment, including final drives, transmissions, torque convertors and steering clutches. The $50 million investment will include a 225,000-square-foot addition that will house increased production capacity for high-tech machining and metal additive processes, as well as a state-of-the-art metallurgical lab. 85-year old Caterpillar boasts annual sales in excess of $40 billion.
PR Newswire: Mining | August 1, 2011 | 2:07 pm

Newmont increases quarterly dividend 50% to $0.30 per share

Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") today announced that its second quarter 2011 attributable net income from continuing operations increased 37% to $523 million ($1.06 per share)(1) compared to $382 million ($0.78 per share) in the second quarter of 2010. Adjusted net income(2) increased 18% to $445 million ($0.90per share) in the second quarter of 2011, from $377 million ($0.77per share) in the second quarter of 2010.
PR Newswire: Mining | July 29, 2011 | 12:07 pm