Anvil Mining, a copper producer in the Democratic Republic of Congo, announced Wednesday China's Minmetals Resources has extended its $1.3 billion takeover offer for the second time, to January 11 next year. The extension comes as violence and allegations of vote rigging mar the DRC presidential election, for which full results is now only expected later this week. Anvil is also undergoing an audit of its leases with the DRC's state-owned Gecamines.
It is a sad but indisputable fact that in today's mining industry there are countries that still allow labour practices that belong in Dickensian England rather than a modern economy.
Canada Lithium Corp. (TSX: CLQ) (OTCQX: CLQMF) announced today an updated National Instrument 43-101 ("NI 43-101") compliant Mineral Resource estimate for the Québec Lithium Project that indicates Total Measured and Indicated Mineral Resources have increased to 33.2 million tonnes grading 1.19% lithium oxide.
Vancouver-based Barkerville Gold Mines (CVE:BGM) has received approval to build an open-pit gold mine at its Bonanza Ledge property in northern B.C. The stock was changing hands at 97 cents on Tuesday, up 8% on more than double average volumes.
Quadra FNX Mining (TSE:QUX) is up a whopping 39% today on news of a multi-billion-dollar takeout bid. The Canadian base metals producer with offices in Toronto and Vancouver said it has agreed to have all its outstanding shares and warrants acquired by KGHM Polska Miedź S.A. (KGHM) for $3.5 billion. Quadra FNX has operating mines in Ontario, Arizona, Nevada and Chile, where the company is also developing the Sierra Gorda copper-molybdenum mine. The project is a joint venture between Quadra FNX and Japanese metals producer Sumitomo Mining.
Facing criminal and civil penalties over the Upper Big Branch Mine disaster, Alpha Natural Resources (NYSE:ANR) will pay $200 million to settle a suit leveled by the U.S. Attorney in Charleston, West Virigina.
Gold is still the king of commodities when it comes its role as a diversifier and foundation asset in the portfolios of euro-based investors, says the new report "Gold as a strategic asset for European investors," commissioned by The World Gold Council (WGC).
