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Mr Karzai invites gold and copper bidders to Afghanistan

The Karzai administration opened bids on billions of dollars worth of copper and gold deposits in four areas of occupied Afghanistan. The Afghan Ministry of Mines invited foreign transnationals to bid on multiple contracts to unearth copper and gold...

New zinc mine in Northwest Territories crosses environmental hurdle

A new zinc mine in Canada's Northwest Territories has received environmental approval. Canadian Zinc Corporation (TSE:CZN) said Friday that its Prairie Creek Mine has cleared an environmental review by the Mackenzie Valley Environmental Impact Review Board, meaning the mine can proceed to the next stage of regulatory approvals.

Norilsk Nickel to invest US$10.9 billion to expand resource base

World #1 nickel and palladium producer Norilsk Nickel is investing heavily in new and existing mines. The Russian mining conglomerate announced today it will spend US$10.9 billion to expand its mineral resource base including development of existing mining assets and construction and commissioning of new mines.

Strait Gold grants Teck option to earn up to 75% in Alicia

TORONTO, ONTARIO--(Marketwire - Dec. 9, 2011) - Strait Gold Corporation (TSX VENTURE:SRD) ("Strait Gold" or the "Company") is pleased to announce that it has signed a binding agreement (the "Agreement") with Teck Peru S.A. ("Teck Peru"), a wholly-owned subsidiary of Teck Resources Limited ("Teck"), giving Teck Peru an option to earn up to a 75% interest in the Company's Alicia copper-gold property ("Alicia" or the "Property") in Peru by spending up to $30 million on exploration at Alicia or delivering a pre-feasibility study, making $500,000 in cash option payments and exercising the warrants referred to below. TORONTO, ONTARIO--(Marketwire - Dec. 9, 2011) - Strait Gold Corporation (TSX VENTURE:SRD) ("Strait Gold" or the "Company") is pleased to announce that it has signed a binding agreement (the "Agreement") with Teck Peru S.A. ("Teck Peru"), a...

Minmetals confident amid DRC election chaos, extends Anvil takeover offer again

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.

Poland’s KGHM bids $3.5 billion for Quadra FNX; shares up 39%

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.