MINING.COM

SilverCrest announces second quarter earnings of $790,000 and cash flow from operations of $3.1M

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - SilverCrest Mines Inc. (the "Company" or "SilverCrest") (TSX VENTURE:SVL)(FRANKFURT:CW5) is pleased to announce strong positive cash flow, earnings and operating results in line with budgeted projections for its first quarter of commercial production at its Santa Elena Mine in Sonora, Mexico. This press release should be read in conjunction with the Company's Manangement Discussion & Analysis, Condensed Consolidated Interim Financial Statements and Notes to Financial Statements for the six month period ended June 30, 2011, available on the Company's website at www.silvercrestmines.com and on SEDAR at www.sedar.com. All monetary figures are expressed in United States dollars unless otherwise specified.

Marketwire - Mining and Metals | August 30, 2011 | 12:00 pm

Canadian gold miner AuRico to buy Northgate Minerals for $1.48 billion

TORONTO, Aug. 29, 2011 /CNW/ - AuRico Gold Inc. ("AuRico") (TSX:AUQ) (NYSE:AUQ) and Northgate Minerals Corporation ("Northgate") (TSX:NGX) (NYSE-Amex:NXG) are pleased to announce that they have entered into a definitive acquisition agreement (the "Agreement") to create a new leading intermediate gold producer. The new company will have 5 operating gold mines, a sixth mine targeting production in 2012 and 3 gold development projects in Mexico, Canada, and Australia, three of the top global mining jurisdictions.

CNW Group | Natural Resource Discoveries | August 29, 2011 | 12:54 pm

Hybrid Air Vehicles (HAV) signs on DAI as first customer of heavy lift aircraft

Discovery Air Innovations (DAI), a wholly-owned subsidiary of Discovery Air Inc. and Hybrid Air Vehicles Limited (HAV) have signed an agreement under which DAI will be the first customer for HAV’s Commercial Heavy Lift program.

MINING.com Editor | August 26, 2011 | 7:45 pm

The mining sector’s two biggest risks: country risk and resource nationalism

Today many governments are looking at ways to get more money from miners as companies report record profits. The higher the returns and the higher the profits, the greedier governments become. As commodity prices rise governments try to boost their share of the proceeds from their countries energy and mining sectors.

Richard Mills - Ahead of the Herd | August 26, 2011 | 6:18 pm

Mining in America more dangerous than policing, statistics show

Working in a mine is more dangerous than being a police officer in America, according to the latest data from the US Bureau of Labor Statistics.

Andrew Topf | August 26, 2011 | 5:40 am

Iron ore price scales $180/tonne to within reach of record highs

FT reports iron ore prices hit a three-month high above $180 a tonne on Thursday as supply outages and strong demand from China underpinned the steelmaking commodity. Started in 2008, derivatives trading in iron ore is up fourfold this year after setting a record in July, but he world’s top three miners – BHP Billiton, Vale and Rio Tinto – control nearly 70% of the 1 billion tonne annual seaborne trade and dominate price talks. BHP this week announced record profits on back of earnings from iron ore, its biggest division, which jumped 122% to $13.3 billion and CEO Marius Kloppers said unlike the situation in coal, global iron ore supplies are being 'overestimated'.

Frik Els | August 25, 2011 | 10:00 pm

IOC looking to double production capacity as iron ore prices surge

Canada's largest iron ore producer is looking to expand its operations in Newfoundland/Labrador. IOC announced last week that it has launched a study to evaluate options that would increase production to 50 million tonnes per year by 2016. The expansion effectively doubles IOC's capacity from 26 million tonnes per annum, the target set for 2013 after the completion of three concentrate expansion projects (COPs).

Andrew Topf | August 23, 2011 | 7:48 pm

Derivatives traders dive into iron ore market as prices triple

New York brokerage GFI's announcement on Tuesday that it now offers on-screen iron ore swap trading is the latest indication that the economics of the world's foremost dry bulk commodity are being changed fundamentally. Started in 2008, derivatives trading in iron ore is up fourfold this year after setting a record in July as investment banks enter the massive market in numbers. The world's top three miners – BHP Billiton, Vale and Rio Tinto – control nearly 70% of the 1 billion tonne annual seaborne trade and dominate price talks. The benchmark China import price for iron ore has tripled since late 2008 to $177 a tonne.

Frik Els | August 23, 2011 | 6:38 pm

Xstrata’s huge thermal coal project being challenged in Australian court over impacts to Great Barrier Reef

Lawyers for Swiss mining giant Xstrata are in court today defending a massive coal project slated for Queensland. The AU$6 billion Wandoan coal mine has come under fire by environmentalists for its potential negative effects on the Great Barrier Reef. Bloomberg reports that Friends of the Earth, an international environmental lobby group, is attempting to block the mine’s approval at a trial in Brisbane that’s scheduled to take two weeks, arguing the coal exported from the project and burned overseas will add to global warming.

Andrew Topf | August 22, 2011 | 7:00 pm

Labour Disputes Permeate Copper Market

The copper market has continuously been plagued with labour disputes for years, however, this year strikes have been especially prevalent with workers believing that they are entitled to larger pay cheques and benefits as they perceive that their employers are “raking in the cash” on the back of high metals prices.

Resource Investing News | August 22, 2011 | 9:19 am