AuRico Gold pulled the trigger on its Australian operations on Tuesday, selling the Stawell and Fosterville mines to Crocodile Gold Corp for up to $105 million.
The world's number three miner bought Alcan's business on the continent in 2007 for $38 billion. So far the $100 billion Anglo-Australian company has been forced to write off $18.2 billion of the purchase price.
Baja Mining (TSX:BAJ) shed 5% on Wednesday on higher than usual trading volumes, after releasing an update on its Boleo copper-cobalt-zinc project in Mexico.
Japan, the world’s main importer of rare earths, has requested international assistance for alternatives, conservation, diversification and recycling and to continue dialogue with China to secure stable global supply
Gold prices will remain high this year, but are unlikely to rise above the record high reached in 2011, says the latest report by U.S.-based mining consultants CPM Group.
A remote geographic zone straddling Canadian Québec and Labrador areas is causing quite a stir in mining circles due to the large iron reserves waiting to be developed into mines.