Avanco axes Brazil copper mine production over truck drivers strike

Uranium miner Paladin Energy believes it will not be affected by planned changes in Namibia's policy on ownership of strategic minerals after the government said existing licenses would not be affected. "Paladin has welcomed this clarification, which removes any uncertainty over its operations in Namibia," the company said in a statement to the Australian Securities Exchange.

Australian contractor Barminco has signed the company's largest contract in its 21-year history with the renewal of its contract with AngloGold Ashanti Australia to deliver underground mining services at the 600,000 t/y Sunrise Dam gold mining operation, located 56 km south of Laverton in Western Australia. The company has been contract mining at Sunrise Dam since October 2003.

OZ Minerals has reached an agreement to settle the two class actions brought against it by Maurice Blackburn and Slater & Gordon on behalf of certain shareholders who acquired shares in 2008. The total settlement payment in respect of the class actions is $55.1 million plus costs of $4.9 million with those totals to be allocated between the Maurice Blackburn and the Slater & Gordon classes.

Altius Mining (ASX:AYM) has commenced an initial public offering (IPO) with the intention of raising A$12 million and a listing on the Australian Securities Exchange (ASX). The company, based in Toorak, Victoria, is offering a maximum 60 million shares at 20 cents apiece. It expects to list on the ASX by June 2nd.

After lengthy deliberations involving several software vendors, Fortescue Metals Group, Australia's third largest iron ore producer after BHPBilliton and Rio Tinto, has picked MineSight for its mine planning software needs. "We decided to use MineSight because we found it to have a comprehensive suite of mine planning capabilities most suited to our operations and a demonstrated track record of quality improvements," said Andrew O'Dowd, FMG's Manager of Operations Planning.

BHP Billiton today announced that the partners of Samarco had approved the US$3.5 billion (BHP Billiton share1 US$1.75 billion) Fourth Pellet Plant Project at Samarco (Brazil). The expansion will increase Samarco iron ore pellet production capacity by 8.3 million tonnes to 30.5 million tonnes per annum (100% basis). First pellet production is expected in the first half of calendar year 2014. BHP Billiton President Iron Ore, Ian Ashby, said “Samarco is a low cost supplier of high quality iron ore pellets and over the last several years has been very successful in growing its resource base. This investment builds on its resource and operational strengths and will further improve Samarco’s competitiveness and market position.”

Paladin Energy Ltd. (TSX:PDN)(ASX:PDN) ("Paladin" or the "Company") advises that Wyatt Buck, Executive General Manager – Production will be leaving Paladin in May. He has decided to change direction and depart the uranium sector, taking a senior role with a company focussed on other commodities. We wish Wyatt all the best in his new venture and, on behalf of myself, management and the Board, sincerely thank him for his contribution and dedication over the past 5 years during a time of great growth for the Company.

Greg Hall, managing director of Toro Energy Ltd (ASX: TOE), said the main nuclear power countries are continuing their new build programmes for nuclear power while adapting to lessons learned from the incident. The uranium spot price dropped significantly after the incident but had, by the end of the March quarter, returned to the December 2010 average of $US62.50 per lb of U308.

Sherwin Iron Limited (ASX: SHD) is pleased to announce that it has successfully undertaken a $8.5 million share placement at 16 cents a share to institutional and sophisticated investors as part of its strategy to accelerate drilling and development of its Roper River Iron Ore Project (Project) in the Northern Territory. Image by Sherwin Iron Limited