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Exploration boosted by China’s $89m base metals deal

CHINESE trader Guangdong Guangxin Holdings has signed an $89 million deal to boost its interests in Australian base metals by buying a quarter of the Mineral Hill copper and goldmine in NSW and a 15 per cent stake in mine owner KBL Mining.

Cameco announces breakthrough of second shaft at Cigar Lake

Cameco (TSX:CCO) (NYSE:CCJ) announced today it has reached the main mine workings with the second shaft at the Cigar Lake uranium mining project in northern Saskatchewan. Miners removed the final section of rock connecting shaft 2 with the mine workings 480 metres below surface on January 3, 2012. The second shaft will provide for increased ventilation of the underground workings as well as additional means of entering and exiting the mine. SASKATOON, SASKATCHEWAN--(Marketwire - Jan. 3, 2012) -