Mining Industry News
Rio Tinto offloads aluminium cable business for $185m
Posted May 21st 2012 at 3:29 pm
Rio Tinto has agreed to sell its Atlanta, Georgia-based wire and cable business Alcan Cable to NYSE-listed General Cable for $185-million, the companies said on Monday. The diversified mining giant has been selling off non-core operations from the aluminium business it bought in 2007 for some $44-billion, announcing in October it was putting up 13 assets up for sale.Ten steps to manage personal devices brought to work
Posted May 21st 2012 at 10:00 am
The “bring your own devices” to work - or BYOD - movement is a sea change, and it’s up to businesses to make the best of it. Here’s howOperation Entrepreneur on Prince Charles' s Victoria Day itinerary
Posted May 21st 2012 at 10:00 am
All the latest news related to entrepreneursStarting up? Avoid these three common mistakes
Posted May 21st 2012 at 10:00 am
For those of you toying with the idea of becoming an entrepreneur, here are three common mistakes to avoidCar-wash service makes house calls
Posted May 21st 2012 at 10:00 am
Cleaning system used by Washly uses biodegradable compounds to skirt municipal bylaws in TorontoAngloGold leads SA gold miners higher
Posted May 21st 2012 at 9:15 am
Shares of the world's No. 3 gold producer AngloGold Ashanti shoot up over 5 percent as spot gold extends previous session's big gains, prompted by a recovery in the euro. AngloGold is 5.2 percent higher at 282.92 rand at 12:55 SA time, clawing back steep losses earlier in the week triggere... read moreIron Ore-Sellers cut prices further as China demand wanes
Posted May 21st 2012 at 9:14 am
Sellers of imported iron ore in China slashed price offers further on Monday as weak demand continued to weigh on spot steel prices, opening more downside room for iron ore after a fall of nearly 5 percent last week. Some Chinese mills have delayed deli... read moreGold Fields hopes for new Peru mine
Posted May 21st 2012 at 9:10 am
Gold Fields will start drilling soon at its Cerro Corona mine in Peru to explore whether the copper and gold deposit extends below the current open-pit plan, a project which, if successful, could lead to a whole new mine at the group’s lowest-cost operation. Cerro Corona has engineer... read moreHow far can you go? Know your 'cash runway'
Posted May 21st 2012 at 9:00 am
Entrepreneurs must understand their personal cash runways, as well as those of their employees and the company as a wholeEPA report outlines potential Pebble mine risks
Posted May 21st 2012 at 8:35 am
Large stretches of salmon-spawning streams and thousands of acres of wetlands would be wiped out if a large-scale mining project were to be built in southwestern Alaska's copper-rich Bristol Bay region, according to a report issued Friday by the US Environmental Protection Agency. The report, while not directly addressing it, is a potential blow to the massive Pebble copper and gold mine operation proposed by an international alliance of mining interests, and opposed by environmentalists and local native groups.EPA warns Alaska mine could devastate rivers
Posted May 21st 2012 at 8:27 am
The Environmental Protection Agency is warning that plans for a massive mine in the hills above Bristol Bay in Alaska - home of the biggest sockeye salmon fishery in the world - could have devastating consequences for rivers and streams and wipe out habitat for fish. A study that represent... read moreDart Mining says molybdenum assays support resource upgrade potential
Posted May 21st 2012 at 8:23 am
Dart Mining could be on its way to a JORC Resource upgrade at the Unicorn deposit in northeast Victoria following initial assays from a reverse circulation drilling program. Intercepts from the first three drill holes in this program include peak results of: - 174 metres at 0.1% Molybdenum... read moreDe Grey Mining announces Rock chip sampling identifies gold and silver in Argentina
Posted May 21st 2012 at 8:21 am
Grey Mining has returned up to 23.3 grams per tonne gold and 3,240g/t silver from rock chip samples at the company’s SM6 prospect in Argentina. Exploration in the East and West zones at SM6 have returned high grade gold and silver, along with coincident arsenic, mercury, molybdenum, ... read moreNPA rebels threaten to attack mining firms in Zamboanga
Posted May 21st 2012 at 8:20 am
Communist rebels have threatened to attack mining firms operating in the Zamboanga Peninsula in the southern Philippines. Jorge Madlos, a spokesman for the New People’s Army, also warned soldiers and policemen from protecting mining firms he accused of plundering natural resources. T... read moreVatukoula Gold Mines continues towards goals of producing 100,000 ounces per year
Posted May 21st 2012 at 8:17 am
Vatukoula Gold Mines continues to advance towards its goal of producing 100,000 ounces of gold per year from its flagship mine in Fiji. It produced gold at a "significantly" higher rate in the six months to February 29 this year, than in the second half last year, although production was "... read moreAngloGold to invest $400m in Colombia 2013-15
Posted May 21st 2012 at 8:04 am
AngloGold Ashanti, the world's No. 3 gold producer, plans to invest $400-million in Colombia in the 2013-2015 period at its La Colosa deposit and other gold exploration projects, a company executive said on Friday. Some $300-million is earmarked for exploration work at La Colosa, Colombia's largest gold deposit, located in the southern Tolima province.Vale sees iron-ore price rising in H2
Posted May 21st 2012 at 7:59 am
Brazilian mining company Vale SA remains confident the price of iron-ore, its main product, will rise in the second half of 2012, relieving environmental and economic pressures on the company which have hurt growth and delayed new projects. Iron-ore fell to its lowest level in nearly six months on Friday, slipping 1.7% to $131.30 a ton. The medium- to long-term price, though, should be in the range of $120 to $180 a ton, Jose Carlos Martins, Vale's head of ferrous metals and strategy, said at a lunchtime gathering with reporters in Rio de Janeiro.Minemakers board rejects UCL offer
Posted May 21st 2012 at 7:57 am
The directors of ASX- and TSX-listed Minemakers have unsurprisingly advised shareholders to reject a counter-takeover offer from joint venture (JV) partner UCL Resources. At the end of last week, UCL launched a takeover offer from Minemakers, offering one of its own shares, and 4.5c in cash, for each 1.6 Minemakers shares held. The proposed offer implied a value of A$0.208 a share for Minemakers, which represented a 6.4% premium to the closing price on May 17.HudBay cans $400m notes offering, cites market conditions
Posted May 21st 2012 at 7:32 am
Canada’s HudBay Minerals late on Friday said lousy market conditions caused it to call off the $400-million notes offering it had announced earlier in the week. Standard & Poor’s had given the proposed bonds a ‘B’ rating, saying the TSX-listed base metals miner business risk profile was “vulnerable” and its financial risk profile “aggressive”.Vector Resources announces mining lease has been granted at Gwendolyn
Posted May 21st 2012 at 7:27 am
Vector Resources is pleased to announce that it has achieved major administrative milestones in preparation of the Gwendolyn East tenement for near term mining potential. Vector submitted a request to the Department of Mines and Petroleum to convert the Gwendolyn East tenement to a mining ... read more