• MONGOLIA - Khan Resources begins study on Dornod uranium project

    Khan Resources, following a competitive bidding process, has awarded a contract to Aker Kvaerner E&C/Scott Wilson Roscoe Postle Associates, (AK/Scott Wilson RPA), to undertake a NI 43-101 compliant pre-feasibility study for the Dornod uranium project in north-east Mongolia .

    The environmental component of the study has been subcontracted to Golder Associates and Ecotrade XXK of Ulaan Bataar, Mongolia. The schedule calls for the study to be completed by mid 2007. It is anticipated that when the study has been finalized the uranium mineralization classification of the deposit will be upgraded from a resource to a reserve category.

  • PNG - BDI Mining terminates Woodlark advisory services

    BDI Mining has reached a mutual agreement with Barclays Capital, the investment banking division of Barclays Bank, to terminate the Woodlark Island gold project Advisory Mandate effective immediately.

    Under the terms of the Mandate, signed in March 2005, the Mining & Metals team of Barclays Capital has been providing advisory services to BDI Mining in relation to securing of project financing to develop the project.

  • KAZAKHSTAN - European Minerals updates Varvarinskoye project

    European Minerals has updated its mine plan and resource and reserve estimates for its Varvarinskoye gold/copper project in northern Kazakhstan . The estimates form the basis for an updated mine plan with commissioning expected in October this year.

  • URANIUM - China in talks for series of new nuclear reactors

    France "s Areva SA company, the world"s largest maker of nuclear reactors, and Toshiba Corp"s Westinghouse Electric company are in discussion with Chinese officials for the construction of four new nuclear reactors.

    The reactors are planned for Yangjiang in Guangdong province and two are planned Haiyang in Shandong province. Westinghouse already has two reactors at Sanmen in Zhejiang province.

  • AUSTRALIA-CHINA - Fox strikes new nickel off-take agreement

    Fox Resources has entered into an agreement with China "s largest privately owned nickel concern, Jinping HengHao Non-Ferrous Metals Ltd (Jinping) for the sale of nickel-in-concentrates that will be produced from Fox"s new Sholl B2 nickel deposit in the Pilbara, Western Australia .

    Yunnan Tong Chang Long Industrial Trading Co, Ltd (YNTCL), the trading arm of Jinping has expressed a desire to provide financial support to the project so as to deliver maximum production as rapidly as possible.

  • FIJI - Golden Rim starts intensive gold drilling program

    South Pacific-focused resource group Golden Rim Resources has started drilling at its Sabeto Gold Project in Fiji .

    Drilling at Sabeto, located 18km east of Fiji "s capital Nadi, is being conducted 24 hours a day, six days a week, following the company"s completion of a major infrastructure upgrade program, providing all-weather gravel road access to key target areas.

  • PHILIPPINES - Canatuan approvals granted

    TVI Pacific has received all final approvals for construction of the sulphide project at the Canatuan mine in the Philippines . The sulphide project was the subject of a positive feasibility study (filed in July 2006), prepared by Norwest Corp on a stand alone basis in the second quarter of 2006, demonstrating technical feasibility and robust economics.

  • AUSTRALIA - PMA outlines significant extensions to Windimurra project

    Australian-based ferro-alloys company Precious Metals Australia Limited has laid the foundations for a significant upgrade to the existing ore reserve at its 90%-owned Windimurra Vanadium Project in Western Australia after a successful drilling program which delineated significant extensions to the mineralisation.

  • PRODUCT NEWS - New ICMM publication for metals risk assessment

    The International Council on Mining and Metals has released the Metals Environmental Risk Assessment Guidance (MERAG). This new publication is the result of a three-year project developed with Eurometaux and endorsed by the UK Department for Environment, Food and Rural Affairs.

  • MOVERS AND SHAKERS - New MD for Indo Mines

    Philip Welten has been appointed Indo Mines managing director.

    Philip Welten is a mining engineer with more than 28 years experience in a range of commodities including iron ore, gold, copper and uranium.

  • NICKEL - Mining starts at Avebury nickel project

    Mining has started at Allegiance Mining"s Avebury nickel project near Zeehan in Tasmania , Australia . Mining contractor Barminco has mine development and the North Avebury development drive has produced development ore from the main North Avebury orebody.

    This large orebody is some 40 metres thick at this point and ground conditions are described as good for mining. The development ore is being stockpiled in readiness for the mill commissioning in the second half of 2007.

    Bulk earthworks for the process plant site are complete and the construction manager for the plant construction engineers, Metplant Engineering Services, has moved to site.

  • INDONESIA - BDI first diamonds reach $266/ct

    BDI Mining has received an independent valuation of $266/ct for the first parcel of diamonds recovered from initial Phase II mining at the Cempaka diamond mine in southeast Kalimantan , Indonesia .

    The run-of-mine parcel of 702 ct was recovered from initial mining and plant commissioning of the first open pit in the main Cempaka channel. Phase II of operations have started and will target production of 100,000 ct/year.

  • VIETNAM - Dragon Capital buys out Tiberon Minerals

    Dragon Capital has made a take-over bid for Tiberon Minerals Ltd.

    Dragon Capital has paid $3.65 for the Tiberon Shares.

    Tiberon Minerals has been developing the Nui Phao property in Vietnam to produce acid-grade fluorspar, as well as bismuth, copper and gold.

    Nui Phao contains over 55 million tonnes of proven and probable reserves (25.1 million tonnes proven, 30.6 million tonnes probable) for an estimated mine life in excess of 16 years, making it one of the largest tungsten-fluorspar deposits located outside China.

  • PHILIPPINES - Masara mine starts continuous operations

    Crew Gold"s initial phase of the 500 tonnes/day plant has been substantially completed and the Masara mine has started continuous operation. The first gold pour at the new plant has taken place.

  • INDIA - MOU for steel plant in Orissa

    Arcelor Mittal, the world"s largest and most global steel company, has signed a Memorandum of Understanding with the Government of the State of Orissa in India concerning setting up a steel making operation in the Keonijhar District.

  • CENTRAL ASIA - Kryso forms alliance with Great Basin Gold

    Kryso Resources has formed a strategic alliance with Great Basin Gold through the placing with Great Basin of new Ordinary Shares. Great Basin Gold will own 15.24% of the Enlarged Issued Share Capital after the placing. The proceeds are to be used to continue the exploration diamond drill program at the Pakrut gold deposit, simultaneously to complete the feasibility study on Pakrut and to conduct a geophysical survey and drill programme at the Hukas nickel-copper project.

  • CHINA - Leyshon fundraising to progress Zheng Guang project

    Leyshon Resources has raised $16.25 million, to rapidly progress the Zheng Guang gold/zinc project to construction status and to continue to expand the 1.2 million ounce of gold equivalent resource through a major exploration program. The placement was made to institutional clients of Mirabaud Securites and Seymour Pierce.

  • MALAYSIA - Malaysian gold trader lists on ASX

    A Malaysian-based gold trader and refiner has listed on the ASX, in a move that will give Australia a greater role in the international gold trading market.

    IGDX Holdings Limited (ASX code: "IGX") has joined the ASX through Adelaide as its home exchange after a fully subscribed Aus$2 million Initial Public Offer involving the issue of four million 50 cent ordinary shares.

    The company will be capitalised at just under Aus$93 million when it lists, with 224 million shares on issue and 455 Australian shareholders.

  • AUSTRALIA-INDIA - Water treatment facility for Mt Gordon

    BioteQ Environmental Technologies has signed a final agreement with Birla Mt Gordon, a wholly owned subsidiary of Aditya Birla Minerals, for the development and operation of a water treatment facility located at Birla"s Mt Gordon copper mine in Queensland , Australia .

  • SOUTH KOREA-AUSTRALIA - Posco lists Murchison Metals interest 12%

    POSCO Australia Pty Ltd (POSCO) has exercised its remaining 10 million options to invest a further $5 million into Murchison Metals.

    POSCO is a wholly owned subsidiary of the world"s third largest steel producer, POSCO Limited of South Korea . Following exercise of the options, POSCO will hold 40 million shares in Murchison Metals, increasing its interest to approximately 12% of the current listed share capital

  • AUSTRALIA-CHINA - Aurox Balla Balla vanadium BFS completed

    Aurox Resources has completed the Balla Balla vanadium Bankable Feasibility Study (BFS) and associated titanomagnetite prefeasibility study. The only part remaining outstanding is the financial modelling section, which requires figures currently being discussed with Chengde Iron & Steel Group Co of China The timetable for the negotiation of Aurox"s formal agreement with Chengde/MCC has been extended to this quarter.

  • Dynasty proceeds with mining licence at Hatu property

    Dynasty Gold Corporation has given formal notice to its joint venture partners that move ahead with obtaining the mining licence which sits over much of the Qi-2 ore body at the Hatu Project site.

    This follows much of the success to date at the property.

    The licence is held by an affiliate of Dynasty"s Chinese joint venture partner. Under the terms of the contract, the joint venture company may obtain the mining licence by negotiating a deal with the affiliate.

  • AUSTRALIA - Fox Resources returns to nickel production

    Fox Resources Limited has completed a placement of 8 million shares to raise $10 million.

    Proceeds from the placement will predominantly be used to underpin Fox"s return to nickel production in the second quarter of 2007, as the company transitions from a successful explorer to an emerging regional nickel producer and base metals producer.

    In addition, funds will be utilised to prove up additional reserves through ongoing exploration and the appraisal of previously identified base metal VTEM targets
  • FIJI - Alcaston changes name - new Fiji drilling program

    South Pacific-focused resource group Alcaston Mining NL has changed its name to Golden Rim Resources Ltd.

    The company has undertaken a major new drilling program at its Sabeto Gold Project in Fiji and appointed a new exploration manager to head up its expanded exploration activities.

    A drill rig is now stationed onsite at the Sabeto Project, located about 25km north-east of Fiji "s capital Nadi, working on a 3000 metre drilling program.

  • MALAYSIA - Kemaman pellet plant approvals granted

    Grange Resources has received an environmental approval and manufacturing licence approvals from the Malaysian Government for its 6.8 million tonne per annum iron ore pellet plant to be built at Kemaman in Malaysia .

    The Environmental Approval sets out the conditions under which the plant can operate. Overall the environmental conditions set for the pellet plant have been greeted enthusiastically for a project of this scale, however an appeal has been lodged in respect to one condition relating to material storage areas. Grange is confident that this condition will be amended.

  • PHILIPPINES - Asian Lion commits to Philippine investments

    THE newly-created Asian Lion Fund completed its first investment late last year.

    The company"s investment in TSX-listed Mindoro Resources is seen as confidence in both the company and investment in the Philippines , according to Mindoro president Tony Climie.

    Mindoro issued a total of 3, 285,000 units to Asian Lion Fund at $0.70 per unit, raisig $2,299,500 in the transaction.

  • AUSTRALIA-INDONESIA - Oxiana takeover offer for Agincourt Resources

    Oxiana Limited has made a bid to acquire Agincourt Resources Limited for Aus$415 million.

    Newmont Mining Corporation, which holds 19.9% in Agincourt has signed an option and pre-bid acceptance deed in respect of its holding in Agincourt .

  • AUSTRALIA - PMA fundraising enables Windimurra redevelopment to proceed

    Last year"s fundraising of $50 million has given Australian-based ferro-alloys company Precious Metals Australia Limited the ability to progress its $200 million redevelopment of its 90%-owned Windimurra Vanadium Mine in Western Australia .

  • KOREA - Posco invests further $5m into Murchison Metals

    Strategic shareholder POSCO Australia has exercised its remaining 10 million options to invest a further Aus$5 million into Murchison Metals. It is a wholly-owned subsidiary of the world"s third largest steel producer, POSCO Ltd of South Korea and this increases its interest in Murchison Metals to approximately 12% of the current listed share capital.

  • MONGOLIA - Third drilling program completed at Baruun Naran

    QGX has recently completed its third drilling program at Baruun Naran.

    The prime objective of the program was to convert all the known coal within the current area of interest into the "indicated" and "measured" resource categories which will maximize the permissible tonnage that can be included in a pre-feasibility study.

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