April 2013
9 posts
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Australia seeks top spot in LNG market before 2018
Australia has the potential to become the largest exporter of liquefied natural gas (LNG) in the world in the next five years, according to the country’s federal resource minister.
Seven of the world’s twelve newest LNG projects, says Minister Gary Gray, are being built in Australia. The resource minister predicts an annual production of 90 million tonnes come 2018.
The demand...
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AREVA uncovers more uranium riches in eastern...
AREVA announced that its Mongolian subsidiary has discovered yet another big deposit of uranium in Mongolia.
According to AREVA Mongol, its exploration of the Zoovch Ovoo project in Ulaanbadrah Soum has uncovered 50,000 tonnes of grade 0.01% uranium. The find is comparable in size to the largest deposits in Kazakhstan.
In addition, tests have proven that the valuable radioactive ore can be...
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South African coal miner Exxaro will mine iron ore...
The Democratic Republic of the Congo will be hosting iron ore mining operations by South African coal miner Exxaro plans to mine iron ore later this 2013.
Exxaro acquired the Mayoko iron ore project as part of its takeover of African Iron. The permit for Mayoko is expected to arrive anytime soon.
The South African mining company plans to infuse $320 million into Mayoko. The expected pay-off:...
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Consortium leases two state-owned NSW seaports for...
Australia has secured what is perhaps the biggest deal in the global transport sector this 2013 by way of a $5.3 billion deal with a locally-led private consortium for the lease of two major state-owned seaports.
The winning bidder is the NSW Ports Consortium, which is comprised of Industry Funds Management, Australian Super, QSuper, and the Abu Dhabi Investment Authority. The bid involved Port...
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China imports more copper in March as world supply...
While the price of gold continues to plummet, Barclay reports that copper did better in China. Chinese copper imports registered a 7% increase to 320,000 tons while copper scrap imports rose by 17% month-over-month during March 2013.
Chinese manufacturing imports surpassed expectations by registering a 14% year-over-year increase. This resulted in a marginal rise of base metals prices that had...
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Afghanistan holds trillion dollar treasure trove...
Afghanistan is reportedly home to vast deposits of valuable minerals that are worth up to $1 trillion. In addition to copper, which comprises the majority of the deposits, the country also harbors plenty of gold, iron ore, uranium, and precious stones like emeralds.
The region southeast of Kabul is currently hosting a team of US hydrologists and mining engineers. Guided by local Afghans, the...
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NASA seeks seed funding for asteroid capture,...
According to a US senator, NASA may soon get the seed funding it needs to kickstart plans to capture a 500-ton asteroid and place it in lunar orbit for space mining and research purposes.
Senator Bill Nelson of Florida believes that the budget from President Obama, which is expected any time this week, will include the $100-million seed funding that NASA needs for its ambitious space mining...
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Toro uranium mine in Western Australia gets...
Mining company Toro Energy has received the green light for construction of its planned $280 million uranium mine in Western Australia. In order to prevent detrimental effects associated with mining uranium, such as radiation, the federal government also imposed 36 conditions on Toro.
Toro’s flagship project can be found south of Wiluna. It will be the sixth uranium mine in Australia, the...
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Gold mining flourises in former Stalin era Gulag...
One would think that the ill reputation of the Magadan region in Russia, where Gulag camps housed prisoners who were forced to mine gold in the inhospitable clime until their deaths, would drive away anyone. Instead, gold fever continues to flourish long after Stalin’s death.
Also known as Kolyma, Magadan is located in the Russian Far East, about 6,000 km from Moscow. It holds one...
March 2013
5 posts
4 tags
Areva resumes test drilling for uranium in...
Canadian uranium miner Areva Resources is resuming test drilling for the radioactive mineral at its Kiggavik project site near Baker Lake, Nunavut.
Areva has already completed a winter road which will facilitate the transport of supplies such as 200,000 litres of fuel.
The miner is in the process of applying for a permit to open the first uranium mine in Nunavut.
Nunavut is the biggest and...
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Codelco faces plunging copper prices, work...
Already beset by dropping demand for its copper ore product, Chilean state copper miner Codelco also faces a possible 24-hour work stoppage in the near future.
The mining company’s umbrella union for workers held an extraordinary assembly on Friday, March 15, 2013, to vote regarding a stoppage at all units of the biggest copper producer in the world. After the meeting, the coalition...
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Mild weather hampers winter roads in Russia,...
Normally one hears about bad weather closing down roads and transportation. In a twist, warmer weather has hampered the construction of roads in Canada and Russia- roads made of ice, that is, the so-called “winter roads” that serve a number of mines in remote regions of those countries.
According to a news release from GeoProMining, an international diversified resources company, several factors...
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CSCA experts say asteroid mining will dominate...
Experts at the recent Canadian Space Commerce Association (CSCA) conference in Toronto concluded that space mining is not only within reach, but will achieve short-term command of the resource extraction industry.
CSCA head Arny Sokoloff believes that space mining has much greater potential than traditional terrestrial mining. He urges governments to offer tax benefits like those enjoyed by...
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Peru mining minister expects copper output to...
According to the mining minister of Peru, the South American country expects to boost its copper output to more than double its current production within three years.
Peruvian Minister of Energy and Mines Jorge Merino sprung the optimistic announcement during the recent Prospectors and Developers Association of Canada 2013 conference. Minister Merino stated that Peru intends to boost its copper...
February 2013
11 posts
5 tags
Finland, Sweden havens for miners, says Canadian...
A recent annual survey by the number one public policy think-tank in Canada has identified Finland and Sweden to be the best mining destinations in the world for 2013.
Ranked from the top, the top global mining destinations are Finland, Sweden, Alberta, New Brunswick, Wyoming, Ireland, Nevada, Yukon, Utah, and Norway.
Inversely, the worst country for miners is Indonesia. The Southeast Asian...
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Investors use astrology for prediction of precious...
There have been many jokes comparing astrologists and economists. And then there is the recent development of real-life investors who are using astrology to predict the price of precious metals such as gold.
Analyst Malcolm Bucholtz uses astrology with traditional technical charts and esoteric mathematics to trade in the financial markets. “The buying and selling that occurs is a reflection of...
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Inmet, Petaquilla resolve differences over...
Petaquilla Minerals Ltd. and Inmet Mining Corp. have ended their war in the press and the legal courts. The two Canadian miners reported that they have reached a preliminary commercial agreement involving their projects in Panama that is potentially worth $150 million.
The binding term sheet resolved several outstanding issues between Petaquilla and Inmet. This includes the thorny problem of...
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Price of iron ore fines defy China cooldown,...
The price of iron ore fines continue to rally as the benchmark CFR import price of 62% iron ore fines at China’s Tianjin hit $158 on Tuesday.
China exerted its usual influence on the price of the steelmaking ingredient. Chinese steelmakers are enjoying increased profitability. In addition, the country’s ports are drawing down of their inventories.
Current stockpiles of iron ore...
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"Twiggy" Forrest versus Western Australia mining...
This is the second year of a legal dispute between Australian billionaire Andrew “Twiggy” Forrest and the mining laws of Western Australia. At stake is Forrest’s mineral-rich family land in Minderoo, Western Australia, which is being eyed by several mining companies.
It’s ironic. Forrest became a billionaire by mining iron ore. But he refuses to allow any mining company...
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BHP Billiton endures profit loss from declining...
The declining price of iron ore continues to chip away at the profits of diversified miner BHP Billiton for the third straight half this week. However, the Company’s diversified assets helped it weather the plunge better than its competitors.
AAP reported that BHP made only around $5.69 billion during the second half of 2012. Experts predict that the company’s profits will continue...
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South African Spider-Man rescues trapped illegal...
An unknown man donning a Spider-Man mask came to the aid of a trio of illegal miners stuck in an abandoned South African mine.
According to Independent Online, the anonymous man was also an illegal miner. He wore a mask similar to the iconic American superhero in order to hide his identity.
Three illegal miners had gotten trapped at the abandoned Durban Deep gold mine, near Roodepoort. When...
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Datasat helps miners upgrade PMR networks to TETRA...
With the help of the new service introduced by Datasat Communications, mine operators will be able to transition from their analogue Professional Mobile Radio (PMR) networks to digital equivalents.
The Datasat service integrates satellite infrastructure and wireless broadband to ensure networks can deliver mission critical voice and data services that are compatible with the TETRA standard.
...
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Saudi Arabia, Sudan proceed with deep sea mining...
Sudan and Saudi Arabia have initiated plans for mining the Red Sea basin for gold, copper, silver, and other mineral wealth come 2014.
The two Arab states unveiled their joint venture back in November 2012. It is a revival of a 1974 mutual agreement between the two nations for shared rights to exploit the resources of the Red Sea.
The 1974 pact panned out due to a major fall in global ore...
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Rio delays Argyle expansion, lays off diamond...
As part of its drive to cut $5 billion in costs, Rio Tinto was not only forced to delay its plans to expand its Argyle diamond mine in Western Australia, but also needed to lay off workers at the aforementioned mine.
Argyle is renowned for its pink diamonds. Its $2.1 billion underground expansion project was postponed by Rio Tinto. In addition, the miner will sack up to 350 contractors.
Rio...
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Rio Tinto creates over 2,000 jobs in Pilbara,...
Mining giant Rio Tinto will be doing its part in ensuring Australia remains as the biggest producer of iron ore in the world by creating more than 2,000 jobs in the Pilbara region through a massive multi-billion dollar investment.
Back in 2012, Rio declared that it would be spending $3.4 billion to expand its iron ore operations in Pilbara. Just over $2 billion went into extending the...
January 2013
15 posts
4 tags
Denmark considers permitting Greenland to mine...
It’s now up to Denmark to decide whether or not its self-ruled territory, Greenland, will be allowed to mine uranium.
A majority in the Danish parliament appears ready to approve Greenland’s plan to mine the valuable radioactive element. This positive response is a significant and historical change in the country’s foreign policy; Denmark has opposed nuclear power over the last...
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Deloitte pronounces end of Australian mining boom...
The mining boom in Australia may be coming to an end sooner rather than later, predicts Deloitte Access Economics.
According to the Business Outlook published by the budget advisory group in December 2012, government spending cuts will not stop mega-mining construction projects from peaking this 2013. These massive projects have driven Australia’s production growth in recent years, says...
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Atlas Iron ships record numbers of low grade iron...
Atlas Iron proudly announced that it has shipped record-breaking amounts of low grade iron ore last year.
The Australian iron ore miner reported selling 373,000 tonnes of “value fines” during the final quarter of 2012, for a total of 1.75 million tonnes.
“Value fines” are the smaller particles of iron ore generated as a by-product during the processing of standard grade product....
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EDF Energies Nouvelles finishes two wind power... →
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South Australia reveals huge shale oil deposits
Linc Energy announced that huge amounts of shale oil, potentially worth tens of trillions of Australian dollars, has been uncovered in South Australia.
The Brisbane-based company made its momentous discovery while performing drilling and seismic exploration in the Arckaringa Basin around Coober Pedy.
According to Linc, the shale oil deposits are estimated to hold anywhere between 3.5 and 233...
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Asteroid miner takes cues from deep sea miners
Asteroid miner Deep Space Industries will use the cooperative “noninterference” example of the deep sea mining industry as it steers its way through the murky legalese governing space mining.
Deep Space unveiled its plan for space mining at a news conference in the Santa Monica Museum of Flying in California this January 23, 2013. The asteroid miner plans to cooperate with other major players in...
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Cyclone Narelle halts iron ore shipments from...
Tropical cyclone Narelle stopped almost half of the global iron trade when it forced Rio Tinto and BHP Billiton to halt their shipments and close major ports in the northwest coast of Australia in the face of its growing power.
Rio Tinto had no choice but to shut down Dampier and Cape Lambert in Western Australia. The two ports account for more than 200 million tonnes of iron ore every year,...
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Australia, India plan uranium deal talks in March...
The Australian reported that Australia and India will begin discussing a bilateral nuclear co-operation agreement in March 2013. Securing such an agreement might lead to the future sale of Australian uranium to the South Asian country.
The Australian prime minister agreed to the deal in principle when he visited India in the fall of 2012. Representatives from the governments of both countries...
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Jamaican red mud proves rich in rare earth...
Good news for Jamaica: A team of Japanese scientists from Nippon Light Metal Co. says that the distinctive red mud of the Caribbean country holds an abundance of valuable rare earth elements.
In a meeting with the Jamaican parliament, the Minister of Science, Technology, Energy & Mining, Philip Paulwell, reported that the Japanese research team found high concentrations of rare earth...
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Queensland starts online safety initiative for...
The RISKGATE online mining safety initiative has been issued throughout Queensland, Australia in response to an increasing number of accidents and injuries in the important mining state’s coal industry.
According to Stewert Bell, commissioner for mine safety in Queensland, injuries in underground coal mines has been rising throughout 2012.
In response, the Queensland coal sector launched...
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Junior mining industry dwindling, says MacDonald...
The CEO of MacDonald Mines is all but begging politicians to save the junior mining industry by implementing reforms such as imposing limits on high-frequency trading and encourage financial institutions to more widely adopt resource.
The junior miner expressed its concerns about its industry’s dismal prospects during its “Ring of Fire” drill program in the James Bay lowlands...
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Lynas activates rare earth elements units in...
Australia-based rare earths miner Lynas Corp announced that it has finally and successfully commissioned the cracking and rare earth extraction units at its plant in Malaysia.
Lynas expects the cracking and extraction units to begin producing commercial rare earth products within January. The Company intends to increase production over the next three months.
The good news raised Lynas’...
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Australia now produces costliest coal in the world
The coal industry in Australia has become the costliest producer in the world, being beset by dropping prices, decreased productivity, and increasing operating costs.
Five years ago, Australia produced the cheapest coal in the world. But now it is the most expensive producer of the commodity. A tonne produced in Australia now costs $176. In contrast, the rest of the world can produce a similar...
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Researchers predict solar energy will cost less... →
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Colombia backs Oro Verde eco-friendly gold...
Colombia is now promoting the Oro Verde (“Green Gold”) movement in support of environment-friendly gold production. Groups such as UK-based Fairtrade and Fairmined will offer a 15% premium to miners who use ecologically-sound gold processing techniques.
Small-scale miners primarily use mercury to process gold. Usage of this heavy metal have inflicted serious damage to the environment...
December 2012
11 posts
6 tags
Randgold revises output for Tongon gold mine after...
A recent fire forced Randgold Resources to lower its production guidance for its Tongon gold mine in Ivory Coast, Africa.
The Company and analysts had been expecting Tongon to produce 230,000 ounces of gold per year. The damage caused by the Christmas Eve fire, however, called for lower expected output on the order of about 208,000 ounces.
The Tongon mine had been undergoing scheduled...
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OZ Minerals still biding time for copper mine...
2012 is all but over, yet Australian gold and copper miner OZ Minerals has yet to fill out its attenuated mining portfolio. The Company is still holding AUD$750 million that it should have spent years ago on a big acquisition.
Three years ago, OZ Minerals went through a major restructuring. The Company now only owns the Prominent Hill copper/gold mine in South Australia. It did, however, also...
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Enbridge investing in new Quebec wind energy...
Oil transporter Canadian Enbridge Inc. announced that it is considering purchasing a 50% stake in the Massif du Sud wind farm in Quebec, Canada, a 150-megawatt wind energy project, for $170 million.
Endbridge is the biggest transporter of Canadian oil to the United States. It has been diversifying its assets by branching into wind energy projects.
For its planned acquisition of the stake in...
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German retail investors play safe, buy gold...
A recent study reported that average Germans are buying gold bullion to reinforce their sense and state of fiscal security. This is despite the fact that the Germany economy is relatively healthier in comparison to its European Union partners, especially those in the Mediterranean region.
The Steinbeis Research Center for Financial Services reported that 69% of the German population have secured...
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South African antitrust regulations delay...
Glencore International ran into delays obtaining the approval of regulators in South Africa. The commodities trader had been forced to move the deadline for the completion of its $33 billion proposed takeover of Xstrata to January 31, 2013 as it prepares to defend its case this week.
Eskom, the South African power utility company, had been concerned that its coal supplies would be affected by...
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Next 20 years are good ones for miners in...
Deloitte reports that Australia could regain its former position as the number one mining industry in the world within the next 20 years. The country’s resource sector is expected to draw $55 billion worth of investments during the next two decares.
In its fifth annual global mining report, “Tracking The Trends 2013,” Deloitte claimed that a brighter future awaited Australian miners after...
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Australians abandon Antarctica for high mining...
Lured by the high wages offered by the Australian mining sector, far fewer young Australians applied for work in the country’s Antarctica division in 2012.
Reuters reported that there has been a significant drop in the number of applicants for the Australian Antarctic Division. There are only 1,200 applicants so far for the 2013-2014 period, compared to 2,200 during the previous year.
In...
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Level Meters in Petrochemical Industries
The petroleum, natural gas, and petrochemical industries place high requirements on level measurement, or the instrumentation techniques designed to measure the height of a fluid or solid within a containing vessel. Besides instruments of traditional technologies like differential pressure level meters, there are also level meters of radar, magnetostrictive, and magnetic float, etc. applied...
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Vale predicts rise of spot market for iron ore...
The voracious appetite China possesses for iron ore has recently caused volatile prices for the commodity. In response, the rise of a huge spot market in iron ore derivatives is predicted by iron ore giant Vale SA.
Iron industry players require a derivatives market as a hedge against the ongoing price volatility. Many non-Chinese iron ore clients cannot handle these drastic price fluctuations....
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Australian miners cut $2 billion overhead, 10,000...
The last few months have witnessed Australian mining companies cutting back on their overhead costs by $2 billion and laying off 10,000 miners in order to maintain their competitiveness in the current economic climate.
According to Shahriar Shafiee and Nick Abbate, the authors of a report from R2Mining and CostMine, most players in the the Australian mining industry no longer find the current...
