Micro-cap Highland Resources added 28% to trade at 9c on Wednesday on higher than usual trading volumes, after announcing it has closed the final tranche of its non-brokered private placement, raising a total of $16.5 million.
There are "growing signs" that Outer Harbour will take precedence over BHP's massive Olympic Dam project and the greenfield Jansen potash venture in Canada.
In all $265 million will be doled out to senior management at Xstrata to stop them from jumping ship after a merger with Glencore. The two companies are also paying $200 million to their advisers to push the deal through.
The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will finally find its way to the inboxes of shareholders today.
Southern Copper Corp. is evaluating the construction of a hydroelectric plant in Peru to mitigate the impacts that the energy crisis in the second world producer of copper may have in its operations, said the company’s president Oscar Gonzalez.
An Argentinean government body that is mapping glaciers in the Central Andes has released initial results of its national glacier inventory, showing that many of the country’s mining projects sit in glacier-rich areas and may, therefore, be a threat to country’s future water supply, among other possible ill effects.
Troubled Vancouver miner, Baja Mining (TSE:BAJ), said that it laid off 40% of its staff to conserve cash and admitted that there is "no assurance" that it will find funding to complete its Boleo project, a $1.143 billion copper-cobalt-zinc project in Mexico.
