Posts by Mineweb:

Wits Gold completes positive scoping study on the DBM gold project

Wits Gold completed shallow underground mine design comprising a 700 metre vertical shaft for men and materials and a conveyor decline for rock transport. Based on indicated resources of 34.5Mt at 5.3g/t Au (5.9Moz), the same reefs host indicated resources of 17.0Mt at 0.16kg/t U3O8 (6.1Mlb)
Mineweb | June 23, 2011 | 5:49 pm

China sticks to ban on favourable power tariffs for energy-intensive sectors

China's top economic planner on Thursday reiterated a ban on favourable power tariffs for power-intensive sectors as the world's second-largest electricity consumer struggles to deal with its worst power crisis in seven years. Last year, the National Development and Reform Commission (NDRC) asked local governments and power suppliers to cancel favourable power prices for aluminium, ferroalloy and calcium carbide makers, and said preferential power rates for direct trade between power generators and power users but without approval must be halted.
Mineweb | June 23, 2011 | 11:50 am

Caledon Resources agrees to be bought by Chinese investment group

Australian coking coal producer Caledon Resources said it agreed to be bought by a Chinese investment group for 313.1 million pounds ($507 million), in a long-awaited deal which has finally met Chinese regulatory approval. China's Guangdong Rising Assets Management Co (GRAM) first approached Queensland-focused Caledon with a 112 pence per share offer in November to which Caledon agreed in principle, subject to approval from the Chinese regulators.
Mineweb | June 23, 2011 | 11:22 am

Vale scraps Fertilizer unit sale

Brazilian miner Vale (VALE5.SA:Quote) said on Wednesday it had scrapped plans to sell stock in its fertilizer division, and would take the unit private, buying shares in the company it does not already own. Vale plans to pay up to 2.2 billion reais (US$1.4 billion) to buy out minority investors of Vale Fertilizantes, whose main asset is a stake in Fosfertil (FFTL4.SA: Quote).
Mineweb | June 23, 2011 | 8:04 am

Silver Institute elects new leadership

Geoff Burns, President and CEO of Pan American Silver Corp. (PAAS: NASDAQ) has been elected President of the Silver Institute by its membership. Mr. Burns has been the President and CEO of Vancouver-based Pan American Silver since 2004.
Mineweb | June 23, 2011 | 6:24 am

Cap-Ex Ventures: airborne identifies high priority DSO targets at Lac Connelly

Cap-Ex Ventures announced it has received and interpreted the preliminary data from the recently completed Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey, conducted by Fugro Airborne Surveys Corp. The survey was conducted over the Company's wholly owned Lac Connelly property located in the Labrador Trough.
Mineweb | June 23, 2011 | 6:24 am
Soros called the bottom in Barrick Gold's stock

Grand Canyon mining ban frustrating – Denison

The head of Denison Mines (DML.TO: Quote) said on Tuesday he is frustrated by the U.S. government's move to extend a ban on mining on 1 million acres of federal lands near the Grand Canyon, though the impact of the ban on his company remains unclear. In an interview with Reuters, Chief Executive Ron Hochstein said that while three of its Arizona Strip projects are unaffected, Denison is still looking into whether the six-month extension announced on Monday will have an impact on the development of its EZ Complex uranium deposits in Arizona.
Mineweb | June 22, 2011 | 2:05 pm