Fortescue Metals Group has discovered more than one billion tonnes of iron ore in Western Australia's Pilbara and aims to develop it rapidly. Sydney Morning Herald reports: The new project, named Nyidinghu, is about 35 kilometers south of Fortescue's first mine, Cloudbreak, and contained an inferred resource of 1.032 billion tonnes of ore at a grade of 58 per cent iron, the company said.

South Africa’s state-owned African Exploration, Mining and Finance Corp. said it will start producing 800,000 metric tons of coal annually for domestic electricity provider Eskom Holdings Ltd. by June, Bloomberg News is reporting: The company, jointly controlled by the government’s energy and mining ministries, will spend 130 million rand ($18.5 million) building a coal mine in Vlakfontein, about 80 kilometers east of Johannesburg, Chief Executive Officer Sizwe Madondo said at the site today. Production will be increased to 1.68 million tons, with the option of boosting it further to 3 million tons annually, he told hundreds of local residents.

Anglesey’s 41%-owned associate Labrador Iron Mines Holdings Limited (TSX: LIM) has signed an agreement with Tshiuetin Rail Transportation Inc. (“TSH”) for the […]

Pele Mountain Resources has released an NI 43-101 resource estimate for its Eco Ridge uranium and rare earths project in Elliott Lake, […]

Minefinders’ silver production up 72%. Gold and silver output expected to rise in 2011. Q4 EPS 18 cents per share, against last […]

Vale was the most profitable mining company in 2010, says an earnings report released this week by the Brazilian diversified mining giant. […]

“Closing the gap” in the “disadvantage” Aboriginal people experience in employment and education in western NSW is the focus of a new Aboriginal Education and Training Unit, a TAFE Institute director said. The new team of 15 Aboriginal staff located in Dubbo, Bathurst, Orange, Broken Hill and in the north west of the state, has been formed in response to feedback from Aboriginal communities that TAFE could be doing more to meet the needs of Aboriginal people and communities.

Northern Dynasty said on Wednesday that Wardrop completed a positive preliminary assessment report for the Pebble copper-gold-molybdenum project in Southwestern Alaska. "For the Pebble Project, the 45-year Reference Case yields a 14.2% pre-tax IRR, a 6.2-year payback on initial capital investment of $4.7 billion and a $6.1 billion pre-tax NPV at a 7% discount rate and long-term metal prices. At current prevailing metal prices, the 45-year Reference Case yields a 23.2% pre-tax IRR, a 3.2-year payback on initial capital investment and a $15.7 billion pre-tax NPV at a 7% discount rate."

Major global mineral sands producer, Iluka Resources returned to profit in 2010, primed by a dynamic transformation in the December half year. Iluka Ltd (ASX: ILU) reported a profit for the year of A$36.1 million (US$36.53 million) aided by higher zircon