International Mining

Latest issue of International Mining Project News available (May 9)

admin — Fri, 09 May 2008 15:40:27 +0000

The continued strength of gold and iron ore prices are reflected in this edition of International Mining Project News. A heavyweight issue is dominated by projects heading into project development and the bulk of those companies are pursuing gold and iron ore interests. (more…)

Massive DRC mining (and infrastructure) agreement with China

admin — Fri, 09 May 2008 14:09:13 +0000

The Government of the Democratic Republic of Congo (DRC) today revealed the details of its mining agreement with China. In a statement to Parliament in Kinshasa, Infrastructure Minister Pierre Lumbi described the deal as “a vast Marshall Plan for the reconstruction of our country’s basic infrastructure. This contract is the foundation on which the growth of our economy is going to be built. It is going to generate tens of thousands of jobs directly or indirectly, with some 10,000 persons being employed directly in the first phase. (more…)

Strategic partnership to develop Santa Cruz projects, Argentina

admin — Fri, 09 May 2008 11:20:35 +0000

Patagonia Gold SA (PGSA), a wholly owned subsidiary of Patagonia Gold Plc, has entered into a Letter of Intent (LOI) with Fomento Minero de Santa Cruz Sociedad del Estado (Fomicruz SE), a mining company wholly owned by the pro-mining government of Santa Cruz Province, Argentina. The LOI sets out the key terms and conditions of a strategic partnership between PGSA and Fomicruz SE for the future development of PGSA’s mining properties in Santa Cruz province, including the gold and silver projects of Lomada de Leiva, Cap Oeste and La Manchuria Main Zone, together with properties currently owned by Fomicruz SE. (more…)

DOE takes next steps with restructured FutureGen approach

admin — Thu, 08 May 2008 09:36:08 +0000

The US Department of Energy (DOE) has released a draft Funding Opportunity Announcement (FOA) to solicit public input on the demonstration of multiple commercial-scale Integrated Gasification Combined Cycle (IGCC) or other clean coal power plants with cutting-edge carbon capture and storage (CCS) technology under the Department’s restructured FutureGen approach. The draft solicitation outlines the planned scope of the project, evaluation criteria, terms and conditions, and cost sharing requirements for public-private cooperation under FutureGen. DOE announced a restructured approach to its FutureGen project on January 30, 2008, to build on technological research and development advancements in CCS technology achieved over the past five years, changing market conditions for clean coal technology, as well as efforts to limit taxpayer exposure and maximise the federal government’s investment in this cutting-edge technology. The restructured approach aims to accelerate the near-term deployment of advanced clean coal technology by equipping new IGCC or other clean coal commercial power plants - that generate at least 300 MW of power - with CCS technology and, with multiple projects funded, is expected to at least double the amount of CO2 sequestered compared to the concept announced in 2003. (more…)

Zinifex makes friends with Jinchuan and completes its Allegiance purchase

admin — Thu, 08 May 2008 04:49:58 +0000

Jinchuan Group has accepted Zinifex Australia’s offer for its 10.4% interest in Allegiance Mining. With Jinchuan’s acceptance, Zinifex will own more than 90% of Allegiance and will move to compulsorily acquire the outstanding shares and de-list the company. (more…)

HAZEMAG & EPR celebrations for 60 years

admin — Wed, 07 May 2008 13:43:22 +0000

HAZEMAG & EPR is a concern that evolved from the merging of two separate German companies, both of which have good reason to celebrate. Hazemag is celebrating 60 years this year, and EPR over 100 years more. During its long and varied history, the Eisenhütte Prinz Rudolph (Prince Rudolph Foundry), which has been resident in Dülmen, Westphalia for some 165 years, has progressed from its beginnings as the first industrial firm in Dülmen to a successful specialist manufacturer of mining and tunnelling equipment. (more…)

Massive Caterpillar deal with Suncor in the oil sands

admin — Wed, 07 May 2008 06:25:40 +0000

Finning (Canada) has secured a major mining equipment and support services deal with Suncor Energy for a total value of approximately C$360 million. Suncor’s equipment purchase includes 22 Caterpillar 797B mining trucks, 19 D11T and 5 D8T track-type tractors (dozers). In addition, Suncor has engaged Finning to support this equipment through various customer support service agreements, including parts and labour, ranging in term to approximately 10 years. (more…)

Victoria affirms commitment to coal

admin — Tue, 06 May 2008 17:17:32 +0000

The Minerals Council of Australia (MCA) has endorsed the Victorian Budget’s strong contribution to sustainable economic growth, to effective climate change policies and to addressing capacity constraints in the economy that threaten the scale and longevity of the present minerals industry expansion. The Budget confirms the Victorian Government’s commitment to clean coal technologies as a cornerstone response to the challenges of reconciling energy security with climate change. (more…)

Delivering major projects using an M&A strategy

admin — Tue, 06 May 2008 03:57:34 +0000

Merger and acquisition (M&A) transactions have reached a record high in recent years, currently worth $3.8 trillion worldwide. In the mining and metals sector in particular, M&A has been the strategy of choice for companies looking to expand to take advantage of increased demand from China and India. There are a number of pitfalls which need to be avoided, and an awareness of the factors influencing success, are crucial to any M&A activity, says Ron Spence, SKM’s Group Manager Strategy for Mining and Metals. Spence is responsible for management of selected major clients in the global mining business, as well as developing mergers and acquisitions and JV and alliance opportunities to enhance the SKM business. (more…)

Tournigan Energy focuses on Slovakia

admin — Mon, 05 May 2008 15:50:30 +0000

Tournigan Gold has changed its name to Tournigan Energy, but will retain the trading symbol TVC on the TSX Venture Exchange. Tournigan Energy is focused on the development of the Kuriskova uranium deposit in Slovakia and is currently re-evaluating its options with regards to its other assets. “Our new name reflects the future direction of Tournigan, which is to focus our attention, capital and human resources on our uranium assets, particularly on advancing our flagship Kuriskova deposit in eastern Slovakia,” said Tournigan president and CEO James Walchuck. (more…)