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Tempers flare again over New Prosperity mine

Pro-and anti-mining forces are clashing once again over a proposed copper-gold mine in northern BC. On Monday Taseko Mines, the proponent of the New Prosperity mining project, said it has started legal action against people it alleges have obstructed preparations at the minesite. In response, the Tsilhqot’in Nation filed an injunction against the company "to halt its plans for extensive road-building, drilling, excavation of test pits, and timber clearing in support of its unprecedented and controversial resubmitted bid for approval of its soundly rejected Prosperity Mine project," the Tsilhqot’in, which represents six First Nations, stated in a press release.

BHP to move deeper into shale gas with $4.5B in acquisitions

BHP Billiton (NYSE:BHP) says it plans to spend about $4.5 billion on developing shale gas assets in 2012. Earlier this year, BHP, the world's largest mining company, spent nearly $17 billion buying Petrohawk Energy and Chesapeake Energy with the aim of doubling petroleum production over the next five years. The Financial Post reports: “This is going to be a gamechanger around the world and for BHP Billiton not to be part of it would be irresponsible,” BHP petroleum chief executive Michael Yeager said in slides prepared for an investor presentation to allay concerns about the company’s push into shale gas. BHP said it plans to spend around $5.5 billion a year by 2015, about a billion more than previous estimates, and around $6.5 billion a year in 2020 on U.S. shale.

Fortescue CEO suggests link between mining tax deal and uranium sales to India

Yesterday's announcement by Australian PM Julia Gillard to consider lifting the ban on uranium sales to India is raising eyebrows at one of the country's largest iron ore producers. News.com.au reports Fortescue Metals (ASX:FMG) chief executive Neville Power questioning whether the proposed sales would benefit BHP's Olympic Dam uranium mine in South Australia: "You would wonder," Power said yesterday at Fortescue's Port Headlands wharf in Western Australia.

Global interest in Western Potash-owned Milestone

In an article published on BNWnews.ca focussing on potash industry developments in the wake of continuing high prices and record food demand, Western Potash, with arguably the world’s most advanced ‘independent’ potash project, is highlighted as a company getting a lot of attention from potential state-funded buyers.

Klondex Mines Ltd. announces Can$21,000,000 equity financing

Klondex Mines Ltd. (TSX: KDX) ("Klondex Mines" or the "Company") announced today that it has entered into an agreement with a syndicate of underwriters lead by GMP Securities L.P. and including Mackie Research Capital Corporation, Jones, Gable & Company Ltd. and Fraser Mackenzie Limited (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase 8,400,000 units (the "Units") of the Company, at a price of C$2.50 per Unit (the "Offering Price") for aggregate gross proceeds to Klondex Mines of C$21,000,000.00 (the "Offering").

Operating expenses rise at Uranium Resources during 3Q

Uranium Resources, a Texas-based in-situ uranium miner, says that cost increased in 3Q due to challenging drilling conditions and higher equipment costs. "This resulted in fewer than desired drilled holes and about two additional months of exploration time,” said Don Ewigleben, President and CEO of Uranium Resources in a statement. Operating expenses were $133,753 for 3Q compared with $67,260 in 2010. The overall loss from operations was $2,827,097, down from $3,730,998 a year ago when the company had a $1.37 million provision for a legal settlement.

Dia Bras confirms discovery of a large disseminated silver zone at its Cusi property

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Dia Bras Exploration Inc. (TSX VENTURE:DIB) ("Dia Bras" or the "Company") is pleased to report that exploration drilling from the surface at Promontorio mine (Figure 1: http://diabras.com/files/media/a20ec_figure1.pdf) combined with underground channel and bulk samples from drifting in the Promontorio mine continue to identify wide zones of disseminated silver mineralization, confirming the discovery of a new zone with large tonnage potential.

Frontier Rare Earths provides an update on its Zandkopsdrift rare earth element in South Africa

TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Frontier Rare Earths Limited (TSX:FRO)(TSX:FRO.WT) is pleased to provide an update on operational progress at its Zandkopsdrift rare earth element project in South Africa and related corporate activities. "We are very encouraged by the progress of work on the preliminary economic assessment for our flagship Zandkopsdrift project, and expect to announce the results early next year," said Mr. James Kenny, President and CEO of Frontier Rare Earths. "We believe that the PEA will clearly demonstrate the significant economic potential of Zandkopsdrift and this will leave Frontier well positioned to become one of the major producers of rare earths globally commencing in 2015."