• CHINA - Four new nuclear reactors

    The final contract for the supply of four Westinghouse AP1000 third-generation nuclear reactors to China is expected to be signed this month.

    Meanwhile Westinghouse has signed a US$350 million contract with Doosan Heavy Industries in Korea for two pressure vessels and four steam generators for two of the plants

  • INDONESIA - Finders opens share offer

    Finders Resources has opened its offer to raise between Aus$4.5 million and Aus$6 million at an issue price of Aus$0.55 and list on the Australian Stock Exchange.

    Funds raised from the offer of 8.2 million shares will be used to progress Finders" advanced copper and silver-gold projects in Indonesia towards development. The closing date for the issue is June 7 but it is likely to close early.

  • PHILIPPINES-AUSTRALIA-CANADA - Oceana Gold seeks TSX listing

    Oceana Gold has lodged a preliminary prospectus with the Australian Stock Exchange for a proposed listing on the Toronto Stock Exchange.

    Oceana Gold proposes to create a new Canadian company, OceanGold, and apply to list it on the Toronto Stock Exchange.

  • PHILIPPINES - Mindoro seeks ECC for nickel project

    Mindoro Resources will make an application for an Environmental Compliance Certificate (ECC) for the Agata nickel laterite project in the Philippines.

  • SINGAPORE - Record-breaking mine equipment auction

    Ritchie Bros Auctioneers conducted the largest Singapore auction in the company"s history earlier this month.

    The unreserved public auction featured a range of mining and construction equipment and generated more than US$17 million in gross auction sales, beating the previous site auction of US$16 million set in March 2000.

  • URANIUM - Scoping study for Four Mile project

    A scoping study will be undertaken on the promising Four Mile uranium deposit in South Australia following the release of an inaugural resource announcement.

    Uranium, gold and copper group Alliance Resources received a boost from the announcement regarding the Four Mile prospect that is part of its Arkaroola Joint Venture with Quasar Resources Pty Ltd.

  • IRON ORE - Promising drilling results at Nullagine

    BC Iron Limited has received excellent assay results from a drilling program at its Nullagine iron ore project in Western Australia"s Pilbara region.

    Best results from the maiden reverse circulation drilling include 7m @ 59.2% Fe (66.9% calcined Fe) from surface. There was maximum thickness of 13 metres and average thickness of 8 metres over a 3.5km channel length.

  • CHINA - Buffalo and Dynasty merger terminated

    Dynasty Gold Corporation has reported that the proposed friendly merger with Buffalo Gold Corporation will not proceed under terms of the agreement.

    Buffalo"s board of directors terminated the agreement after the due diligence review indicated that Dynasty and its assets in China do not meet the short to medium-term objectives of Buffalo. Dynasty Gold is a Canadian gold exploration company in China.

  • CHINA-AUSTRALIA - YTC lists on stock exchange

    Tin-focused exploration company YTC Resources listed on the Australian Stock Exchange earlier this month following the early closure of its Aus$3.5 million Initial Public Offering.

  • IRON-ORE - High grade mineralisation identified

    Gindalbie Metals has intersected high-grade hematite mineralisation at the Terapod West (MR7) prospect, part of its Karara project in Western Australia.

    The drilling program was part of the ongoing exploration and resource development program focused on the Mungada Ridge area at Karara, where Gindalbie is aiming to define resources which will underpin the development of a long-term hematite DSO (direct shipping ore) business, planned to commence operations in 2008.

  • CHINA - Metal Mining North East Asia Conference

    The ASIA Miner editor Yolanda Torrisi will be attending the Metal Mining North East Asia Conference in Shanghai from June 6-8 at the Sofitel Jin Jiang Oriental.

  • PHILIPPINES - Vice president opens Asia Pacific mining conference

    Philippines vice president Noli de Castro will formally open the 7th Asia Pacific Mining Conference and Exhibition on June 5, 2007 being held in Manila from Junje 5-7.

    Known for his crusade on the environment and the protection of the rights of the common people, de Castro"s presence during the opening ceremonies serves as an indicator for the mining industry"s program of corporate social responsibility, serving as a catalyst to sustainable development.

  • COMPANY AND PRODUCT NEWS - Metso Minerals two- and three-deck Lokotrack SmartSc

    Metso Minerals has launched two new Lokotrack mobile screens. Called the Lokotrack ST358 and ST458, they are two-and-three decked mobile units that are suitable for screening applications where high-capacity, accuracy and mobility are required. Both models use Metso"s SmartScreen™ technology.

  • MOVERS AND SHAKERS - PMA appoints new MD and chairman

    Precious Metals Australia Limited has appointed senior mining executive Dr Iain Scott as managing director to lead the company in its forthcoming transition to production.

    Furthermore, Australian mining executive Michael Kiernan has been appointed as PMA"s non-executive chairman.

  • CHINA - Nonferrous Metals Market Conference

    The 2007 China International Nonferrous Metals Market Conference will be held in Hong Kong from May 29-31. The ASIA Miner editor Yolanda Torrisi will be at the conference to meet delegates and report on the presentations.

    The 2007 China International Nonferrous Metals Market Conference will givedelegates from around the world the chance to meet their counterparts from China. It will examine and discuss challenges and change in China, and put this in the global context.

  • THE PHILIPPINES - Medusa Mining in full swing

    Medusa Mining expects to achieve its initial annualised target of 40,000 ounces in the second quarter of 2007 after a landslide in January severely affected production at its Co-O gold mine in the Philippines.

  • THE PHILIPPINES - Royalco advances exploration

    Royalco has advanced its main gold and copper exploration interests in the Philippines.

    Additional geochemical surveys and impressive administrative clearances should result in three of the company"s four major tenement areas achieving drill ready status in the March quarter and the fourth area, Gambang, early the June quarter.

  • SOLOMON ISLANDS - Seven years at Gold Ridge in Solomons

    Solomons Gold has estimated a mine life of seven years at its Gold Ridge project on Guadalcanal in the Solomon Islands.

    The estimate follows the release of a feasibility study for the redevelopment of the mine which operated for 22 months from August 1998 until June 2000, producing 210,000 oz of gold from one of the four identified mineralized zones at the property.

  • URANIUM - Marathon signs agreement with Primary

    Marathon Resources Limited and Primary Resources Limited have signed a joint venture agreement to explore the Warburton uranium project in Western Australia.

    The agreement allows Marathon to earn up to 70% by spending $3.25 million within five years in Primary"s Warburton project.

  • CHINA - Bulk testing program for uranium

    Sparton Resources will proceed with a bulk uranium extraction test program on coal ash from the Xiaolongtang (XLT) Power Station in Yunnan, southwest China.

    The early stage testing of fly ash samples from XLT has indicated that the material contains approximately 0.46 pounds of U308 per tonne of ash (160-180 parts per million uranium), and that more than 70% of this contained uranium is soluble in acid extraction solutions.

  • AUSTRALIA-LAOS - RECORD YEAR FOR OXIANA

    Strong operating performance from an increased number of mines and a strong commodities market saw Oxiana achieve record earnings and cash flows in 2006.

    Oxiana chairman Barry Cusack said that the company"s net profit of $533 million and cash flow of $801 million were clear records.

  • CHINA-AUSTRALIA - Jinchuan increases Allegiance interest

    Jinchuan Group Limited has increased its interest in Allegiance Mining with funds to be put towards further development of the Avebury Nickel Project in Tasmania.

    Allegiance has entered into agreements which will see Jinchuan subscribe for 48,123,044 fully paid ordinary shares in at an issue price of A$0.80 per share to raise A$38,498,435.

  • IRON ORE - Karara shows promise

    Gindalbie Metals has had promising drilling results at its Karara Hematite Project in Western Australia.

    The company has announced that Reverse Circulation drilling at the Terapod West (MR7) Prospect intersected significant zones of high-grade hematite mineralisation.

  • MOVERS AND SHAKERS - New Independent non-executive director for Fox

    Geoffrey Clifford has agreed to join the Fox Resources as an independent non-executive director.

    Mr Clifford (56) has more than 25 years experience in senior accounting, finance, administration and company secretarial roles in the mining, retailing and wholesaling industries.

  • PAPUA NEW GUINEA - Significant gold intercepts at Simberi Monam Creek prospect

    New assay results from exploration drilling at Allied Gold"s 100%-owned Simberi Gold Project inPapua New Guinea have recorded highly encouraging intercepts.

    The most significant results have been received from drilling on the Monum Creek prospect, in the valley approximately midway between the Sorowar deposit and the Pigiput deposits to the south.

  • MALAYSIA - Work starts on Raub gold plant

    Preliminary construction work has started on Peninsular Gold"s Raub Carbon-In-Leach tailings reprocessing plant inMalaysia.

    The contract for the earthworks and piling phase of the proposed Raub carbon-in-leach plant has been awarded and all the necessary environmental and other approvals for the construction are in place.

  • AUSTRALIA-CHINA - Tin interest shines again

    Tin-focused exploration company, YTC Resources Limited has closed its Aus$3.5 million Initial Public Offering early and over-subscribed.

    Once listed YTC will have 41,031,950 shares on issue and a pro forma marketcapitalisation of $10.25 million based on the offer price of Aus$0.25 per share.

  • AUSTRALIA-CHINA - Sinom invests in Avalon

    The Sinom Group ofChina has taken a 3.75% stake in Avalon Minerals following a successful $3.5 millio IPO listing on the Australian Stock Exchange last month.

    Avalon Minerals last week mobilized its exploration team to its Lennard Shelf Zinc Project.

  • LAOS - Rox undertakes more drilling at Pha Luang

    Rox Resources has started phase 2 of its 2007 drilling campaign at Pha Luang inLaos.

    Phase 1 of the RC drilling campaign was finished in January and successfully extended high grade mineralisation at the Nam Yen prospect (intersections of 19 metres grading 7.0% combined zinc and lead and 5 metres grading 13.8% zinc and lead) together with intersections of significant sulphide mineralisation at the new Pha Sod prospect, with intersections of 20 metres @ 1.2% zinc, were recorded.

  • URANIUM - AUA welcomes ALP uranium policy change

    The Australian Labor Party"s decision to remove its prohibition on the development of new uranium mines has been welcomed by the Australian Uranium Association.

  • URANIUM - Pegasus flies radiometric surveys over projects

    Fugro Airborne Surveys has completed flying of new close-spaced radiometric and magnetic surveys over Pegasus" three Western Australian uranium projects at Hooley, Horse Well and Gifford Creek. 

  • ZINC - $9 million capital raising to fund Woodlawn feasibility

    Tri Origin Minerals Limited has raised $9 million to deliver a bankable feasibility study by the first quarter of next year for the Woodlawn Zinc Copper Project near Goulburn inNew South Wales.

     

  • COMPANY AND PRODUCT NEWS - Intertek acquires Genalysis

    The Caleb Brett division of Intertek Group has acquired Genalysis Laboratory Services.

    The increased demand for minerals from Asian emerging markets such asChina andIndia is driving the Intertek Group business forward and was a connsideration in the Australian acquisition.

  • MOVERS AND SHAKERS - Key appointments for Spinifex Ridge

    Moly Mines has made a number of technical appointments to the management team for the Spinifex Ridge molybdenum/copper project.

    Michael Gloyne has been appointed assistant to the general manager and manager mining.

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