Titan Minerals and Core Gold merge and create Latin America-focused company
The miners signed a binding arrangement pursuant to which Titan will acquire all of the issued and outstanding Core Gold common shares by way of a share exchange.
Environmentalists such as Greenpeace have condemned the mine's approval as claiming, it will mean an unacceptable rise in vessels passing the Great Barrier Reef, impacting air quality and native flora and fauna.
The world's number one miner, BHP Billiton, wants to leave the news of its first decrease in annual profit in three years behind by focusing on finding the most lucrative way to increase iron ore production in Western Australia.
Less than 24 hours after Australia's minister for resources and energy declared that the country's mining boom had come to an end, he appeared saying he was misinterpreted, and that the resources industry is still moving ahead.
The world's number one miner, BHP Billiton, has delayed its $30 billion Olympic Dam copper-uranium expansion and said no major projects would be approved until June 2013 as it tries cutting costs.
The Australian diamond company Lonrho Mining dazzled investors Tuesday as the company confirmed the finding of two huge diamonds from the Lulo project, in northeastern Angola.
Already running at a loss or struggling to stay in the black, most thermal coal mines in Australia's Queensland are now facing additional challenges as exports drop and major projects wind back.
New doubts have emerged over world number one miner BHP Billiton's (LON/ASX/NYSE:BHP) $20 billion outer-harbour project at Port Hedland, Australia, with big names such as JPMorgan and Deutsche Bank saying they expect it to be axed.
A study undertaken by the UN on the impact of the global resources sector on the world's indigenous communities is set to make the Australian mining industry an area of focus.