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Thompson Creek announces first quarter 2011 record production of 10.3 million pounds of molybdenum and approves Mt. Milligan capital expenditure budget

Thompson Creek Metals Company Inc. announced financial results for the three months ended March 31, 2011, prepared in accordance with United States generally accepted accounting principles ("US GAAP"). All dollar amounts are in U.S. dollars unless otherwise indicated. Financial Highlights: Revenue for the quarter ended March 31, 2011 was $206.7 million, up 62% from $127.8 million for the first quarter of 2010. Image by Thompson Creek Metals

Silver Wheaton declares second quarterly dividend payment for 2011

Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW)(NYSE: SLW) is pleased to announce that its Board of Directors has declared its second quarterly cash dividend payment for 2011 of US$0.03 per common share. The quarterly dividend will be paid to holders of record of its common shares as of the close of business on June 20, 2011, and will be distributed on or about June 30, 2011. The Company's dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.

Teck announces Fording River collective agreement and related charge to earnings

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that employees at its Fording River operation in southeastern British Columbia have ratified a new five-year agreement, replacing an agreement which expired on April 30, 2011. "Our discussions with the union were very productive and we are pleased to have reached a new five-year collective agreement at our Fording River operation," said Bill Fleming, Vice President, Operations and Engineering.

West Virginia: Massey Energy mine shuts down production to retrain miners on safety practices after citation

The Republic reports that Massey Energy will stop production at Randolph Mine in West Virginia mine for three days to retrain workers after the operation was cited for a string of serious MSHA safety violations. "We were disappointed in the results of last week's MSHA inspection and I ordered this stand down to reinforce safe mining practices and provide additional training in safety, ventilation and the requirements of our mine plan," Massey Chief Executive Baxter Phillips said in a statement.

De Beers to sell Namaqualand to Trans Hex for $33.5M

De Beers announced that it will sell the Namaqualand diamond mine in South Africa to Trans Hex for 225 million Rand ($33.5 million). The sale joins a number of low producing diamond mines the company has sold in South Africa in the past few years. No details about the transaction were made available, and it’s not clear if this is a cash-only agreement. The timeline of the agreement is not known either, though in the past the approval of the South African government was needed, which may determine the ownership transfer.

First blast signals start of shaft sinking phase at Wesizwe’s Frischgewaagd-Ledig complex

Following the approval by Wesizwe shareholders in March 2011 of the total mine development financing solution offered by the Chinese consortium of Jinchuan, CAD Fund and Micawber, TWP Projects, a Basil Read Group company, has submitted a full EPCM proposal to the company for the new twin vertical shafts (the Main and Ventilation Shafts), a new plant and all surface infrastructure at its Frischgewaagd-Ledig Complex near Rustenburg, South Africa.

Top silver ETF records $1bn of outflows in worst week ever

A record $1 billion outflow from the iShares Silver Trust (SLV.P) in the week ended Wednesday helped feed silver's torrid price decline, just as the fund's earlier inflows aided the prior rally. Many more small investors can trade the iShares exchange-traded fund than participate in the precious metals futures market, and that can exacerbate the volatility of day-to-day price moves, investors said.

CuOro initiates aggressive Colombian exploration program

In the wake of a $15 million financing, CuOro Resources (TSX-V: CUA) is expanding what was already an ambitious start to its first drill program in Colombia. Since closing its qualifying transaction - options on two groups of Colombian minerals concessions - and joining active trading on the TSX-Venture board, CuOro has quickly raised cash, first through a $10 million financing announced in February, then through the latest $15 million financing, which brought its working capital to $30 million.