Pretium’s Brucejack to expand to 3,800 t/d

Mining Review reports Impala Platinum ‒ the world’s second-largest producer of the precious metal ‒ may invest as much as $10 billion in Zimbabwe to expand production if the government backs down on its controversial indigenization policy. Earlier this month Zimbabwe's government gave foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits. Impala is already the biggest investor in Zimbabwe's mining sector.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - Hathor Exploration Limited (TSX:HAT) is aware that Cameco Corporation intends to proceed with a hostile and unsolicited all cash take-over bid for Hathor at a price per Hathor common share of Cdn.$3.75. The announcement stated that the bid will be open for at least 60 days from the time it is made. Hathor has not yet been provided with a formal offer and so is not in a position to respond. Hathor will issue a strong and detailed response to the offer after it has received and reviewed the bid materials, and received guidance and input from its financial and legal advisors.

Canadian stocks were poised to open higher on Monday, taking their cue from Wall Street, as commodity prices rose after Federal Reserve Chairman Ben Bernanke on Friday left the door open for further action to stimulate the U.S. economy.

Oil sands miners in northern Alberta are pooling new knowledge to tackle an old foe: tailings. It's an unusual collaboration in an industry that is famously secretive for fear of losing an edge to competitors. The StarTribune reports on how companies participating in the Oil Sands Tailings Consortium — a 7-member group formed last December to share tailings research and technology — are spending over $90 million this year to address the common problem of how to dispose of wet tailings left behind when bitumen is extracted from oil sands.

Confirming details leaked to the Washington Post on Wednesday the US State Department said on Friday a proposed $7 billion extension of the Keystone pipeline to US Gulf Coast refineries would not likely boost the amount of crude produced from Alberta's oil sands, suggesting it would have limited impact on the environment. A final decision on the controversial pipeline could come as soon as the end of the year. The news comes as demonstrators in front of the White House continue being arrested in efforts to convince President Barack Obama of Keystone XL’s dangers. The price Canada can charge for crude exports to the US is falling further behind the international benchmark because of a glut in the Midwest and some hedge funds have started to bet that the spread could go as high as $50/barrel leaving Alberta producers millions of dollars out of pocket per day.

In a sign that consolidation in the uranium sector is gathering pace, world number one uranium producer Cameco announced on Friday it is extending a $527 million cash offer to shareholders of Hathor Exploration, after talks with the board of the junior explorer failed to result in a deal.

Oilsands Quest stock was trading below the rights offer price of 20c at the open on Friday after announcing it was extending a rights offer to advance its Axe Lake oil sands project in Saskatchewan a second time. The company is attempting to raise $60 million after it was forced to go it alone following a fruitless 11-month quest to find a partner or buyer.

24/7 Wall St says the global diamond mining industry may be one of the world’s best-kept secrets and diamond mining is not unlike the oil business, where about 100 massive fields supply about half the world’s oil.

South Africa's Impala Platinum Holdings (Implats) said on Thursday that its headline earnings for the 2011 financial year rose 41% as it reaped the benefit of rising prices. The world's second-largest producer of the metal also said Thursday that it expects output in 2012 to be steady or slightly lower on the year and that costs will likely rise. Implats accounts for close to 30% of global supply of the precious metal sometimes referred to as white gold, used in vehicle emission systems to reduce pollution and for the manufacture of jewellery. Prices for platinum climbed throughout the year from just over US$1,500 per ounce to end at about US$1,800 per ounce.