The Brazilian mining company Vale is to enter into a partnership with the Portuguese company SGC Energia to build an industrial unit to convert coal into liquid fuel in Moatize district, in the central Mozambican province of Tete.
Vale estimates a liquefied fuel processing plant could produce 300 million litres of fuel a year, of which about half would be used by Vale in Mozambique. The rest would be sold on the domestic fuel market.
Western Potash Corp. announced on Tuesday that it has completed the purchase of a large parcel of surface lands, advancing the development of the plant site facility for its Milestone potash solution mining project in southern Saskatchewan.
The land acquisition program has now successfully secured over 2,550 acres at the Company’s preferred plant site location. Securing the plant site location is an important aspect of the Milestone feasibility process as the environmental and regulatory approval processes and project schedules are dependent on it.
Dow Jones reports a Khazakhstan mining and metals group says it's forging ahead with plans to build a $2 billion iron ore mine in northeast Brazil despite major logistical and environmental obstacles, while speculation about a takeover-bid swirls.
The Pedra de Ferro iron ore project is already four years behind schedule, and the company may miss the 2014 start-up date as it is still waiting for environmental licenses to build a port from which to ship the iron ore, and for Brazil's federal government to build a railroad.
Zimbabwean president Robert Mugabe has promised to sell diamonds from his country's controversial Marange mine ''sanctions or no sanctions'', and the country that would be his biggest customer, India, is being urged by the industry there to buy Zimbabwe stones outside the international framework.
The issue of Zimbabwe selling stones will dominate the agenda at a Kimberley Process - the international protocol designed to stem trade of conflict diamonds – meeting that begins Monday in Kinshasa, the capital of the Democratic Republic of Congo.
Australia's local governments have been warned the current mining boom is not big enough to carry the national economy. The Australian Local Government Association says its latest State of the Regions report indicates there is a risk that business confidence might evaporate in regions that depend on non-mining industries. The report, launched at the association's general assembly in Canberra on Sunday, acknowledges that mining makes up only about 20 per cent of the economy.
The Australian reports a mining safety specialist who quit New Zealand's fatal Pike River coal mine over concerns it was too dangerous will present crucial expert testimony to the royal commission into the disaster, which killed 29 men. Peter Sattler went public last week for the first time to claim Pike River lacked critical equipment required in Australian mines, which could have avoided the enormous methane explosion that ripped through the mine near Greymouth on November 19.
The move comes as, for the first time since the blast, rescue experts prepare to enter the mine, in a step towards recovering bodies and recommissioning the operation.
Dynacor Gold Mines more-than-doubled its sales revenues in the first quarter, prompting the gold mining and exploration company to release an upbeat full-year production outlook. For the first three months of the year, the Peru-focused company posted revenues of $14.7 million, compared to $6.1 million in the prior year period. Dynacor also sold 10,083 ounces of gold during the latest quarter, compared to 5,342 ounces of gold a year earlier.
Market sources indicate a serious Chinese contender has finally decided to make a bid for Metorex, in opposition to Vale’s $1.1bn cash offer for the South African company. There has been speculation in the market over such a development since the Vale bid was announced in mid-April, with Jinchuan Mining singled out as the most likely bidder. Jinchuan is the company which now controls Wesizwe Platinum after heading up a Chinese consortium which paid some $940m for 51% of Wesizwe.
The London Metal Exchange has approved Ravenna as the latest point of good delivery for non domestic LME Steel Billet, with effect from September 16th 2011. The addition of the Italian port will enhance the contract’s warehousing network in Europe, encouraging the steel industry to further utilise the contract. LME Steel Billet is now listed in 12 locations in seven countries.
Despite gold's price slump, strong copper and iron ore prices lifted ¾ÅÓÎÏÂÔØapk's ranking of the world's 50 most valuable miners to a new record high of $1.35 trillion.
