Posts by Andrew Topf:

Michigan copper mine moving forward

A potential copper-nickel mine in Michigan's Upper Peninsula had a roadblock removed recently with a judge's decision to uphold the mine permits. Kennecott Eagle Minerals Company, a subsidiary of Rio Tinto, annnounced last week that the Ingham Circuit Court upheld environmental permits issued in 2007 for the Eagle Mine. The permits had been challenged in court by groups concerned about acid mine drainage including the National Wildlife Federation.

BHP looking at breaking off diamond business

BHP Billiton said today it is reviewing its diamond business, which includes two large diamond mines in northern Canada, for a potential sale of all or parts of the business. The world's largest mining company said the review, expected to be completed by the end of January, will "examine whether a continued presence in the diamonds industry is consistent with BHP Billiton’s strategy." BHP owns 80% of the Ekati diamond mine in Canada's Northwest Territories. The other 20% is owned by geologists Chuck Fipke and Stewart Blusson (each has a 10% stake), who discovered the kimberlite pipes north of Lac de Gras in 1991. BHP also owns 51% of the Chidliak diamond exploration property on Baffin Island, with the other 49% owned by Peregrine Diamonds which has been exploring the 860,000-hectare property since 2006. Chidliak also contains copper, platinum group metals and lead-zinc.

Barrick seeking arbitration over rejected mining lease in Pakistan

Barrick Gold says it will fight for the right to develop a gold project in Pakistan after a provincial government rejected its lease application earlier this month. Canadian Press reports that Tethyan Copper, a partnership between Canada-based Barrick Gold (TSE:ABX) and Chile-based Antofagasta (LON:ANTO) has filed for international arbitration after the Balochistan government turned down its application without meeting with the companies.

Riding with The King: Iron ore junior hires Larry King as pitch man

It's not often that a junior mining company has star power in its corner. Black Iron (TSE:BKI) was busy fielding media calls Monday when the Toronto-based company announced it has retained celebrated CNN talk show host Larry King to help raise the profile of the company. Black Iron owns the Shymanivske project in Ukraine, an NI 43-101 compliant resource with 345 Mt measured and indicated resources grading 32% iron and 469 Mt of inferred resources grading 31% iron. The project is surrounded by five other operating mines including ArcelorMittal's iron ore complex.

Chilean miners down tools at Collahuasi

For the third time this year, workers at the Collahuasi mine in Chile are on strike. The union representing the world's third largest copper mine is accusing management of reneging on agreements that ended a work stoppage in October, AFP reports. Production was paralyzed on July 30 and October 29 when workers downed tools. Collahuasi is owned by Switzerland’s Xstrata and Britain-based Anglo American. Reuters reports Collahuasi produced 504,000 tonnes of copper in 2010, when output was hit by a month-long strike. The mine expects to produce 500,000 tonnes of copper this year. It supplies roughly 3% of the world’s copper.

81% of native corp. opposed to Pebble Mine

The Pebble Mine copper-gold-moly project in Southwestern Alaska got hit with another negative poll last week. The Huffington Post reports that 81% of the roughly 2000 shareholders of the Bristol Bay Native Corporation — the regional Native corporation and largest private landholder in southwest Alaska — have rejected the mine on the basis that it will "unavoidably put at risk the 'fisheries and our Native way of life.'" The project is a partnership between Anglo American (LON:AAL) and Northern Dynasty Minerals (NYSEAMEX:NAK).

Indian consortium and Canadian firm awarded big Afghan iron ore contract

A group of Indian companies and Canada's Kilo Goldmines Ltd. (CVE:KGL) have been awarded the contract to mine the Hajigak iron ore deposit in Afghanistan. MINING.com reported Nov. 19 that Indian firms were leading the chase for the huge iron ore property, which is being touted by the Afghans as the world’s largest iron ore deposit at 1.8 billion tonnes. The deposit extends over 32 kilometres and covers 16 separate zones. Bloomberg reports that President Hamid Karzai and his government awarded three of the four Hajigak blocks to seven Indian companies, led by state-owned Steel Authority of India Ltd. and NMDC Ltd., that were bidding with support from the Indian government. The fourth block was awarded to Kilo Goldmines, which is described on its website as a gold exploration and development company that is actively drilling several past-producing mines in the Democratic Republic of Congo (DRC).

Rio Tinto, Chinalco finalize exploration joint venture

A joint venture between uber-miner Rio Tinto and Chinese partner Chinalco was finalized on Friday. The JV, called CRTX, has been officially registered and cleared to do business in China. The new company's priority will be exploring for copper, with plans to expand into coal and potash, Rio Tinto stated in a news release.

Copper company shares getting hammered; some down as much as a third

Shares in some of the world's biggest copper producers are getting trounced as the price of the bellwether metal continues to flounder around the $3.27 per pound mark. Taking a 3-month time frame, Lundin Mining (TSE:LUN) has shed 37% of its share price, BHP Billiton (NYSE:BHP) is down 22%, Anglo American (LON:AAL) has sunk 15%, and Freeport McMorran (NYSE:FCX) has crashed 28%. Three-month contracts for the red metal fell to a one-month low Wednesday to $7,168 a tonne in intra-day trade in London and extended its losses in New York where it was trading at $3.27 a pound, its lowest level since October 25 and down 30% from its 2011 high of $4.61 set in February.

Public’s support of nuclear power waning; Brits and Americans buck the trend

A BBC poll enquiring about the public's appetite for nuclear power has delivered some surprising results. The poll by GlobeScan, commissioned for the BBC, asked 23,231 people in 23 countries with nuclear programs their opinions on nuclear power. It found that most are significantly more opposed to nuclear power than they were in 2005, with just 22% agreeing that "nuclear power is relatively safe and an important source of electricity, and we should build more nuclear power plants."