Harmony Gold says the Wafi-Golpu deposit in PNG could support a $9.8 billion mine with peak annual production of 560,000 gold ounces and 335,000 tonnes of copper.
The counter is up 25% since July 25 when news first emerged that Indonesia has "requested" 51% of Grasberg, the world's largest gold and number three copper mine.
If Ivanplats's $165 million worth of bonds are not redeemed for stock, rates on the debt soars to credit card-like repayments of just under 19% on November 10 and to an eye-watering 26% in November next year.
Philippines-based Philex Mining Corp. (PX:PM), the country's biggest miner, may have to pay fines for violations of the Clean Water Act and the company’s own Environmental Compliance Certificate (ECC), the Mines and Geosciences Bureau (MGB) said Thursday.
Australia's Dragon Mining announced the discovery of a promising new area of gold deposits in Kuusamo, Finland, only hours after the country was announced as the top destination for mining and oil investment by a trade magazine.
Gold, copper and silver producer Anglo Asian Mining posted Thursday pre-tax profits of $10.5 million for the six months to the end of June - down from $14.2 million a year ago.
BHP Billiton, the world's number one miner, has put its $30 billion Olympic Dam copper-uranium expansion back in the spotlight by asking South Australia state for a 46-month extension for the project.
Lundin Mining Corporation (TSX:LUN) shed more than 3% on Wednesday after announcing that it does not intend to exercise its $80 million option to acquire 80% of a copper project in northern Spain.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) was down about 1% this morning as the giant copper producer followed the commodity prices down as a consequence of protests in Spain and Greece renewed fears about the euro zone debt crisis and its drag on global economic growth.
