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Conveyor seminar for coal industry highlights safety, good practice, and education

Martin Engineering and Stahura Conveyor Products (SCP) co-hosted a seminar on conveyor safety to raise safety education and standardize maintenance practices to reduce the risk of injury to individuals working around conveyors. The event featured key speakers from prominent coal industry media, along with engineering experts and top executives, who highlighted the significant progress made in reducing injuries, while introducing new ways to take conveyor safety to the next level. "We are trying to change the way the industry thinks about conveyors," observed Martin Engineering chief technology director and CEMA director, Todd Swinderman. "The equipment has become much more robust and reliable, but basic designs haven’t changed that much."

Diamonds North acquires property with high gold grades in multiple drill holes

Diamonds North Resources acquired 100% interest in the Esker gold property in Nunavut. The Esker claim covers several kilometres of gold bearing stratigraphy. Drill intercepts of gold mineralization are as high as 8.2 g/T gold over 13 metres, including 17.7 g/T gold over 5.7 metres; and, 2.4 g/T gold over 71 metres which includes several high grade zones (see table below). For a video presentation on this project visit our website www.diamondsnorth.com. "This low cost staking puts us into a project with wide zones of high grade gold mineralization and significant tonnage potential. As only a small portion of the zone has been tested, our objective is to drill along strike of the known mineralization along the host gabbro units to expand the gold-bearing mineralized zone," says Mark Kolebaba President and CEO of Diamonds North.

Rio Tinto halts part of iron ore port operations

MarketWatch reports Rio Tinto PLC has halted export operations at one of the terminals at its Dampier iron ore port in Western Australia after a contract worker was killed when scaffolding he was working on fell into the water. An investigation by the police and Mines Department has been launched into the circumstances surrounding the accident, the Anglo-Australian company said in a statement Sunday. Rio Tinto hasn't had a fatality at its operations in the Pilbara, a region in Western Australia state that accounts for roughly 40% of the world's seaborne supplies of iron ore, since August 2003.

Powerful ruling party politician calls South African mine owners thieves

A new local documentary to be screened in cinemas next week and engineered to make a case for the nationalisation of the mining industry called Mining for Change: A Story of South African Mining, presents studio footage of ANC Youth League president Julius Malema, likening mining company owners to car thieves.

Fortescue’s Chinese shareholder to triple production, seek $1.68bn listing

The Australian reports Fortescue Metals' Chinese shareholder Hunan Valin Steel plans to triple its capacity through mergers and capital investment and is eyeing a listing on the Hong Kong stockmarket to raise up to $1.68bn. The Chinese government last month began another push to consolidate the country's fractured steel industry and is planning to create six or seven mega-groups with the aim of boosting its negotiating power with iron ore giants including miners Rio Tinto and BHP Billiton. Hunan Valin is considered second-tier at the moment but wants to push production to over 30m tonnes/year, similar to industry behemoth Baosteel.

China tightens grip on rare earth supply as Baotou gobbles up 35 small miners

Baotou Steel Rare Earth (Group) Hi Tech Co, the world's largest rare earth producer, will consolidate 35 local miners this month and further unify the distribution and processing of the 17 elements. The Inner Mongolia autonomous region, the site of 97% of China's reserves, has drafted a plan to concentrate all resources under Baotou. The move follows the announcement last week that the state-owned firm will set up the country's first rare earth products exchange to further regulate the market. China accounts for upwards of 95% of global supply. To combat China's domination of the market the US recently declared rare earth to be a strategic resource for the country.

New Gindalbie chief steps in as magnetite project costs balloon to $2.7bn

The Australian reports Tim Netscher the new chief executive of Gindalbie Metals took over after the miner in March announced a second cost blowout at its West Australian Karara joint venture. At the time, Netscher, 60, was working for Newmont Mining and thinking about swapping executive roles for non-executive positions, but the Gindalbie offer was too good to refuse. The multilingual Netscher, who speaks Afrikaans, Indonesian, German, Spanish and English, knows that Gindalbie's Karara magnetite project is at a crucial stage of development, but the mining industry veteran is not shy about a challenge.

Indonesian coal boom coming

Indonesian coal giant Adaro Energy expects 2011 coal production up 5 million tons from last year to 46-48 million tons and then to nearly 50 million in 2012, while Bayan Resources is aiming to more than double its output to 25 million tonnes by 2013. Indonesia is expected to make up 39% of the global increase in coal exports, with Adaro and top miner Bumi Resources becoming two of the top three exporters by 2015. Australia will follow closely behind in terms of growth. India will surpass Japan as the leading buyer of Indonesian coal this year, the country’s coal association told Reuters, and India’s demand will continue to surge as electricity demand is expected to rise 56% by 2017.