Mining Top News

Central Completes Due Diligence on Newman Todd Property and Moves Forward With Option

Mining News — Tue, 10 Nov 2009 08:38:01 PST

Central Resources Corp., announce that it has successfully completed due diligence on the Newman Todd property and is proceeding with the previously announced option agreement whereby Central can earn a 60% undivided interest in the Newman Todd property from Redstar Gold Corp. “Acquiring an option on a property located in Red Lake Mining Camp, the most [...]

Newly Acquired Manitoba Intrusive Complex Yields High REE Values

Mining News — Tue, 10 Nov 2009 08:35:19 PST

Canadian International Minerals Inc (CIN) has been granted a 5000 hectare Mineral Exploration Licence (MEL) in the Knee Lake region in central Manitoba. The MEL covers the Cinder Lake alkaline intrusive complex (CLC) which has only recently been studied by the Manitoba Geological Survey (MGS) and the Department of Geological Sciences (DGS) of the University [...]

Crown Minerals Announces $300,000 Non-Brokered Private Placement

Mining News — Tue, 10 Nov 2009 08:28:22 PST

Crown Minerals Inc. announce a proposed non-brokered private placement of up to 2,500,000 units at a price of $0.12 per unit (the “Offering”), for aggregate gross proceeds of up to $300,000. Each Unit will be comprised of one common share and one share purchase warrant, each such warrant entitling the holder to purchase one common [...]

Allana Resources Announces Closing of $2.0 Million Strategic Investment

Mining News — Mon, 09 Nov 2009 04:53:09 PST

Allana Resources Inc. announce that the Company has completed its previously announced Strategic Investment with China Minerals United Management Ltd. (see News Release dated November 4, 2009) by way of private placement financing of Common Shares of the Corporation for gross proceeds of $2,000,000 million through the issuance of 8,000,000 Common Shares at a price [...]

Caerus Resource Granted Nine Concessions in Two of Colombia’s Most Prolific Gold Districts

Mining News — Sun, 08 Nov 2009 18:34:12 PST

Caerus Resource Corporation report further property acquisitions in the region of two recent major gold discoveries in Colombia. White Gold Corporation’s Colombian subsidiary, Oro Barracuda Ltda., has been informed by Ingeominas (Instituto Colombiano de Geologia y Mineria), that it has been awarded nine concessions (claim blocks) totalling approximately 14,000 hectares in the departments of Tolima, [...]

Lime Rock Resources II Closes at $410 Million

Mining News — Thu, 05 Nov 2009 10:56:31 PST

Lime Rock, a private equity firm focusing on the global energy sector, today announces the closing of Lime Rock Resources II with $410 million in total capital commitments. Like the first Lime Rock Resources fund, Lime Rock Resources II will seek to acquire, directly operate, and improve lower-risk oil and gas properties in the United [...]

Wallbridge Mining To Expand Drill Program on Rogers Creek Copper-Gold-Molybdenum Property

Mining News — Thu, 05 Nov 2009 10:49:19 PST

Wallbridge Mining Company Limited announced today that the Company will expand its drilling program on the Rogers Creek property to 2,500 metres on the basis of copper and molybdenum mineralization observed in diamond drill hole WRC-001. The distribution of mineralization and alteration intersected in WRC-001 is consistent with many porphyry-style mineral deposits in South America and [...]

J-Pacific Receives British Columbia Mining Exploration Tax Credit Refund

Mining News — Thu, 05 Nov 2009 10:45:49 PST

J-Pacific Gold Inc. announced today it has received Mining Exploration Tax Credit refunds totalling $634,323 from the Government of British Columbia, for exploration work conducted from 2006 to 2008 at the Company’s Blackdome Gold Mine and Elizabeth Gold Property. Over the past two months, J-Pacific has added $1,812,104 to its working capital from the B.C. and [...]

American Petro-Hunter to Purchase Texas Gas Production and Reports on Operations

Mining News — Wed, 04 Nov 2009 07:34:00 PST

American Petro-Hunter, Inc. announce that the Company has entered into an agreement whereby the Company intends to purchase production from two existing gas wells from Texas-based Oxalis Energy Group. Under the terms of the Letter of Intent (L.O.I.), the Company is currently undertaking a period of due diligence on the project with a thorough review [...]

Aztec Announces Partnership Update for Its Closed VIII Drilling Program

Mining News — Wed, 04 Nov 2009 07:15:48 PST

Aztec Oil & Gas, Inc. announced the progress of two of its partnerships formed under the Aztec VIII Oil & Gas Drilling Program which is now closed to subscriptions. The Aztec VIII-B Partnership closed June 17, 2009 and the Aztec VIII-C Partnership closed on August 31, 2009. Aztec Energy LLC acts as Managing General Partner [...]

Riverstone Announces New Gold Zone at Karma

Mining News — Wed, 04 Nov 2009 07:00:54 PST

Riverstone Resources Inc. announce results from the first twenty three Rotary Air Blast (RAB) drill holes completed on the Company’s Karma gold project in Burkina Faso, West Africa. The holes were drilled in the immediate area of the GG1 deposit, one of four deposits that comprise the Karma project, to test several gold-in-soil geochemical anomalies [...]

RedHawk Energy Acquires Xxtreme Group for $66.0 Million

Mining News — Tue, 03 Nov 2009 10:52:29 PST

RedHawk Energy Corporation announced that it has acquired 100% of the membership interests of Texas-based Xxtreme Pipe Services, LLC, Xxtreme Pipe Storage, LLC, Xxtreme Tubular Processors, LLC and Wolf Pack Rentals, L.L.C. (collectively, the “Xxtreme Group”) for $66.0 million in cash, preferred stock and assumed debt. The purchase price is subject to certain post-closing adjustments. Headquartered [...]

Swift Resources Announces Financing With MineralFields Group

Mining News — Tue, 03 Nov 2009 10:47:55 PST

Swift Resources Inc. announce that it has negotiated a private placement with MineralFields Group to raise gross proceeds of up to $500,000. Under the terms of the Financing, the Company will issue 1,785,714 flow-through units (the “FT Units”) at a price of $0.28 per FT Unit. Each FT Unit will consist of one flow-through common share [...]

Gemcom MineSched 6.1 Software Makes Jobs Simpler for Mine Planners, Lowers Costs through Improved Efficiency

Mining News — Mon, 02 Nov 2009 10:04:30 PST

Gemcom Software International Inc., the largest global supplier of specialised mining productivity solutions, today announced that it has released Gemcom MineSched™ 6.1, the latest version of its next generation scheduling software for surface and underground mines of all sizes and types, improving productivity and profits beyond what could be achieved by manual scheduling. MineSched incorporates [...]

AngloGold Ashanti Output Up 5% on Geita, Vaal River Turnarounds

Mining News — Mon, 02 Nov 2009 00:37:01 PST

AngloGold Ashanti said third quarter production rose 5 percent as a result of continued improvements at its Geita mine in Tanzania and fewer safety related interruptions at its Vaal River operations in South Africa. “We continue to make breakthroughs in effecting the turnaround at Geita,” Chief Executive Officer Mark Cutifani said. “We’ve also made some strong [...]

Uruguay Mineral Exploration Inc.: Reschedule of Definitive Agreement with Fortune Valley

Mining News — Mon, 02 Nov 2009 00:32:54 PST

Uruguay Mineral Exploration Inc., a South American gold production and exploration company, announced today that the signature with Fortune Valley Resources Inc. (”Fortune Valley”) of the definitive agreement to combine their respective businesses has been rescheduled for November 6, 2009, extending the deadline from October 30. Due diligence is still being undertaken by both parties and [...]

Apollo Successfully Completes Tender Offer for Shares of Parallel Petroleum Corporation

Mining News — Fri, 30 Oct 2009 07:09:53 PDT

Parallel Petroleum Corporation (“Parallel”), PLLL Acquisition Co. and PLLL Holdings, LLC, entities formed for the purpose of acquiring Parallel Petroleum Corporation (NASDAQ: PLLL – News) and wholly owned subsidiaries of an affiliate of Apollo Global Management, LLC, today announced that the subsequent offering period of the tender offer for all of the outstanding shares of [...]

GE Transportation Helps Mine Efficiency Through Wheel Modernizations

Mining News — Fri, 30 Oct 2009 07:06:24 PDT

GE Transportation’s Mining division announced the successful upgrade of more than 40 haul trucks since July for various mines to lower life cycle costs and improve availability and productivity of assets during the current economic downturn. The trucks have been outfitted with GE’s GDY106 AC electric drive wheel motor as GE was awarded several contracts to [...]

North Bay Resources Goes Green With Vanadium Acquisition

Mining News — Fri, 30 Oct 2009 06:53:54 PDT

North Bay Resources Inc. announce that it has acquired the Pine River Vanadium deposit in northeastern British Columbia. Vanadium is a strategic metal that is irreplaceable in a number of applications, including alternative energy storage, where its environmentally friendly attributes have led many to now refer to it as the “green” metal. Pine River Vanadium covers [...]

Ritchie Bros. to sell late model rock trucks in Grand Opening unreserved auction in Grande Prairie

Mining News — Fri, 30 Oct 2009 06:46:33 PDT

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, is selling mining and heavy construction equipment and trucks-including a fleet of late model rock trucks-in an upcoming two-day, multi-million dollar, unreserved public auction at the Company’s brand new permanent auction site in Grande Prairie on Tuesday, November 24th to Wednesday, November 25th 2009 starting at 8:00 [...]