Polish Audit Office blasts KGHM acquisition of Chilean copper mine

The world’s fifth largest copper mine, Chile’s El Teniente, worked at less than half of capacity on Monday as most workers stayed […]

Wesgold Minerals has struck an option agreement with a polymetallic property in Colombia. According to Canadian Press, Wesgold has acquired an option to buy up to 51 percent of a property that hosts iron-oxide-copper-gold deposits: The Vancouver-based junior miner says it bought the option for an initial 11 per cent interest in the property, known as the Cordoba Property, from Minatura International LLC for a total cash cost of $4 million. The property consists of a mining concession contract and several mining claims covering 25,790 hectares, about 200 kilometres north of Medellin.

The rebranding of former fiery leftist Ollanta Humala apparently struck a chord with Peruvian voters as exit polls Sunday showed the former army commander is leading the race to become Peru's next president. The 48-year-old Humala declared victory late Sunday night in an apparently razor-thin win. He would succeed President Alan Garcia on July 28. Image from Agência Brasil under Creative Commons license.

Mammoth Energy Group, a lithium and alternative energy mining company, announced today that its wholly owned subsidiary Compania Lithium Investments Limitada of Chile has signed a Letter of Intent to acquire six concessions for a total of 2471 acres (1000 hectares) of lithium concessions located in the Salar de laco in northeast Chile. "The Salar de laco is approximately 10 miles from the border of Argentina and approximately fifty miles away from the Salar de Atacama, Chile's largest mined lithium reserve," said William Lieberman, President of Mammoth Energy Group.

Colombia Crest Gold Corp. (TSX VENTURE:CLB)(PINK SHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce the discovery of porphyry gold-style alteration in the first of nine target zones being explored on the Fredonia and Venecia properties (see news release dated April 12, 2011). Alteration mapping of the highest-priority target, now named "Arabia", has delineated an area of quartz-sericite-pyrite alteration with dimensions 700 meters east-west by 900 meters north-south which is surrounded by a halo of propylitic alteration. Image by Colombia Crest Gold Corp.

Peru's President Alan Garcia Perez and the Ministry of Energy and Mines have suspended mining concessions in several of the nation's provinces for the next 12 months. The President of the Council of Ministers Rosario Fernandez Figueroa said a multi-sectoral commission has been appointed to study and propose reforms regarding mining concessions.

Iberian Minerals Corp. (TSX VENTURE:IZN) today announced that it has determined to exercise its right to purchase from Trafigura Beheer B.V. its 45.96% net profit interest in Compania Minera Condestable S.A. ("Condestable"), which is the subsidiary through which Iberian holds its approximately 98.73% interest in the Condestable Mine. In accordance with the terms of the CMC Purchase Agreement, Iberian retained the option to purchase the NPI from Trafigura at any time until June 30, 2011 in consideration of the payment of US$60,000,000 (the "NPI Buy-out").

Shares of junior Canadian miners Bear Creek Mining (BCM.V: Quote) and Rio Alto Mining (RIO.V: Quote) fell on Monday, following anti-mining protests […]

As it tunes its rigs to near surface oxides Argentex Mining (TSX-V: ATX) continues to churn out strong silver and gold mineralized intercepts at its Pinguino property in Santa Cruz province, Argentina. Of 16 drillholes Argentex recently reported the best of the lot hit 62 metres @ 88.8 g/t silver and 0.94 g/t gold, which included as much as 6 metres at 675.5 g/t silver and 5.99 g/t gold.