Posts by Andrew Topf:

Expect billion-dollar expansion in Australian iron ore, coal: BHP

Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.

Yellowhead Mining raises $20M for Harper Creek; new PEA results announced

Yellowhead Mining has raised $20 million through bought-deal financing, the B.C.-based company exploration company announced earlier this week. Under the deal, Yellowhead is selling 13.8 million shares at CDN$1.45 per unit, with each unit including a common share and one-half of a warrant. The warrants may be exercised at a price of $2.00, for two years after the deal closes.

Australian mining companies win tax concessions

According to Business Spectator, Australia's biggest mining companies have won a major concession over the planned new 30 per cent Mineral Resource Rent Tax (MRRT), with the government agreeing to refund any future increases in state-based royalty charges. Treasurer Wayne Swan said the government agreed with the key recommendation of a mining tax transitional policy group, headed by Resources Minister Martin Ferguson and former BHP Billiton chairman Don Argus.

U.S. gov’t opens up more land for coal mining

The Obama Administration is making more land available for coal mining in Wyoming, says a report from CNN: Coal mining on public lands will expand in the coming months in Wyoming, as the federal government makes more coal-rich land available for lease by mining companies.

Cameco CEO says nuclear future still sound: Reuters

Cameco Corp (CCO.TSX) remains confident that the long-term outlook for uranium is solid despite global anxiety over radiation from an earthquake-crippled nuclear plant in Japan, Chief Executive Jerry Grandey said on Monday. Speaking to Reuters in an exclusive interview at the Mining and Steel Summit, Grandey said that while the so-called nuclear renaissance will be slowed by the crisis in Japan, more uranium will be needed in the next few years to fuel reactors already online and under construction.

Aurion Acquires Two Nevada Gold Properties

Aurion Resources Ltd. (TSX-V:AU) has acquired two new gold properties in Nevada, both of which are prospective for Carlin-type gold deposits, the Newfoundland-based precious metals explorer announced on Monday.

Union rejects deal; strike continues at Elkview coal mine in BC

Over half of the employees at Teck's Elkview mine in British Columbia have voted to reject a five-year collective agreement. Accepting the agreement would have ended the strike, which is now going into its eighth week. BIV Business Today reports: Teck Resources Limited (TSX: TCK.A and TCK.B) announced today that 57% of the employees at its Elkview operation in southeastern B.C. voted to reject a five-year collective agreement.

Lundin tells shareholders to rejects Equinox bid

Lundin Mining has rejected the hostile takeover bid mounted last month by Australia-based Equinox Minerals. Canadian Press reported Sunday that Lundin told its shareholders to reject a debt-financed takeover bid from Equinox, saying the unsolicited offer was "financially inadequate" and fraught with risks: Vancouver-based Lundin (TSX:LUN) said the Equinox (TSX: EQN) bid undervalued the company and would place considerable influence over business decisions in the hands of lenders.

Disaster in Japan won’t affect uranium sales, says Australian PM

Despite the crash in uranium stocks last week, including a 15% drop in Rio Tinto majority-owned Energy Resources of Australia, Australian PM Julia Gillard insists the Japanese crisis will not affect uranium sales. Gillard made the remarks on Sky News and were reported in The Australian:

Coal explorer Carabella raises $29m

Coal explorer Carabella Resources says it has raised $29 million via a significantly oversubscribed placement to institutional and sophisticated investors, AAP reported: The company placed 16.08 million shares at a price of $1.80 per share to investors from Australia, Asia, Europe and United States.

Rio Tinto faces key week for Riversdale bid

Riversdale Mining Ltd., after a slow take-up of acceptances since the offer was first made in December, according to a report in The Wall Street Journal: The bid was recently sweetened to almost four billion Australian dollars (US$3.99 billion) and the deadline extended a third time after few additional Riversdale shareholders committed themselves to selling to Rio Tinto.