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Australia-listed EnviroGold Limited and Novus Gold Corp., which trades on the TSX, have signed a purchase-option agreement concerning Novus Gold’s properties in […]

The company behind a large copper-gold mining project in the Phillipine province of South Cotabato is cautiously optimistic that a mining ban imposed last year will be overturned. GMA News reports: A large-scale mining company on Sunday expressed optimism that the South Cotabato provincial government will lift its ban on open-pit mining and allow the $5.2-billion Tampakan copper-gold project to proceed by 2012. Sagittarius Mines, Inc. (SMI) made the statement as its petition to withdraw the ban – which former South Cotabato governor Daisy Fuentes imposed last year – has moved up to the provincial council’s final review. The current governor of South Cotabato, Arthur Pingoy, told Reuters last week that a review of the ban is possible, but with a slim chance it would be overturned.

Production of gold Down Under was at its highest levels since 2003 as miners cashed in on record prices, the Daily Telegraph was reporting on Sunday: Gold output from domestic mines in 2010 lifted by about 17 per cent or 38 tonnes to 266 tonnes or 8.5 million ounces (oz), Melbourne-based industry consultants Surbiton Associates Pty Ltd said in its latest survey of the Australian gold mining industry. "Gold produced from Australian mines in 2010 was worth some AUS$12 billion at the current spot price," Surbiton director Sandra Close said. "Gold remains one of Australia's top export earners."

Fortescue Metals Group has discovered more than one billion tonnes of iron ore in Western Australia's Pilbara and aims to develop it rapidly. Sydney Morning Herald reports: The new project, named Nyidinghu, is about 35 kilometers south of Fortescue's first mine, Cloudbreak, and contained an inferred resource of 1.032 billion tonnes of ore at a grade of 58 per cent iron, the company said.

South Africa’s state-owned African Exploration, Mining and Finance Corp. said it will start producing 800,000 metric tons of coal annually for domestic electricity provider Eskom Holdings Ltd. by June, Bloomberg News is reporting: The company, jointly controlled by the government’s energy and mining ministries, will spend 130 million rand ($18.5 million) building a coal mine in Vlakfontein, about 80 kilometers east of Johannesburg, Chief Executive Officer Sizwe Madondo said at the site today. Production will be increased to 1.68 million tons, with the option of boosting it further to 3 million tons annually, he told hundreds of local residents.

Anglesey’s 41%-owned associate Labrador Iron Mines Holdings Limited (TSX: LIM) has signed an agreement with Tshiuetin Rail Transportation Inc. (“TSH”) for the […]

The chief of the Canadian First Nation at the centre of the controversial Prosperity Mine in north-central British Columbia lashed out at the […]

Buyers seek safe-haven in bullion as violence spreads in Libya. Spot gold to test 3 January high of $1,423.57 per ounce, says […]

Canadian mining and energy company Sherritt is expecting production declines in Cuba in 2011, Cuba Standard reported: Sherritt, Cuba’s largest foreign investor, […]

Rio Tinto’s Zimbabwe diamond unit  is showing a 43 percent increase in output, Reuters Africa is reporting: Diamond output from global miner […]