World Mining Exploration News

Redhawk Resources, Inc. is pleased to announce the appointment of R. Joe Sandberg, B.Sc., MBA, AIPG, to the Board of Directors. Joe Sandberg has been with Redhawk since 2004 and is currently the president of the Company and has been involved in exploration development and project management in the mining industry for over 40 years with the majority of that time focused on the southwest US mining district. Mr. Sandberg has a B.Sc. in Geology, an MBA and received his Certified Professional Geologist designation through the American Institute of Professional Geologists. He has extensive experience in both base metal and precious metals project development in open pit and underground situations. His previous experience includes various management positions with Franco Nevada Mining, Normandy Mining, and Newmont Mining.

The Board of Directors regrets to announce that Kalidas V. Madhavpeddi has resigned as a director of the Company in order to focus on a new business venture. (more…)

Although only two people spoke, the Yerington City Council seemed to hear loud and clear the opposition–mainly from area farmers–to its current proposal to lease 3,000 acre-feet for the Nevada Copper mining operation in the Pumpkin Hollow area of Mason Valley southeast of the city.

Although the council had talked about possibly approving the lease at its Dec. 9 meeting, prior to this week’s discussion, it was noted the item would be non-action, and that comment would be taken.

The proposal was to lease up to 3,000 acre-feet of city-owned water for a period not to exceed 30 years, with a total value to the city of $9.8 million over that time.

Beginning the discussion, Mayor Doug Homestead said the reason Yerington was considering this proposal was because the city had the available water rights and wants to do what it can to encourage economic development. (more…)

Bougainville landowners who fought Papua New Guinea security forces in a decade-long civil war sparked over a giant copper mine want to restart mining to achieve viable independence.

Panguna Landowners Association (PLA) chief Michael Pariu told AAP that mining was the only way the island’s independence from PNG could be economically viable following a proposed 2015 referendum on independence.

The PLA was one group among many that formed the Bougainville Revolutionary Army that through militant action forced the closure of the Bougainville Copper Ltd (BCL) Panguna mine in the island’s Central Province from the late 1980s.
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Cia. Vale do Rio Doce, the world’s second-biggest nickel miner, said it will cut output and suspend some operations in Canada because of falling metals demand.

Suspensions include deep-mining operations near Sudbury, Ontario, which Vale acquired through its $16.7 billion takeover of Inco Ltd. Curtailments also are planned at the Voisey’s Bay nickel and copper plant in Newfoundland and Labrador, Rio de Janeiro-based Vale said today in a statement.

Miners are cutting costs, paring output and closing plants because of an economic slump that has led prices for metals such as copper to fall by more than half since August. Freeport- McMoRan Copper & Gold Inc., the world’s largest publicly traded copper company, is firing 20 percent of its U.S. workforce. Vale in October announced nickel output cuts in Indonesia.
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Philex Mining Corp, the Philippines’ biggest miner, has pulled out of bidding to develop a potential gold and copper site on the southern island of Mindanao, leaving six foreign and local groups, a senior government official said on Monday.

The contract to develop the 1,620-hectare Upper Ulip-Paraiso site will be bid out by the Philippine Mining Development Corp (PMDC) on Dec 3. It is located on Mount Diwalwal, considered a gold rush area that has attracted many small-scale miners.

The area is part of the 8,100-hectare Diwalwal mineral reservation site which the government took over in 2006.
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NovaGold Resources Inc., planning to dig the Donlin Creek deposit in Alaska, fell the most in at least 21 years in Toronto after closing a mine and saying it is looking for ways to repay a loan as its cash reserves dwindle.

NovaGold plunged C$1.48, or 67 percent, to 72 cents at 4:48 p.m. in Toronto Stock Exchange trading, the biggest one-day decline since at least June 1987. The shares have dropped 91 percent this year.

The startup of the Rock Creek project in Alaska has been suspended after the company failed to meet environmental requirements, NovaGold said today in a statement. Chief Executive Officer Rick Van Nieuwenhuyse also has been forced to consider asset or share sales to raise the cash needed to repay a $20 million loan due Dec. 29, the company said.
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Myanmar Ivanhoe is likely to resume its copper mining activities in Monywa next month following suspension of production for a few months, company sources said.

Myanmar Ivanhoe was into copper mining in Sabe hillock and Kyesin hillock near Monywa city in Sagaing Division in collaboration with junta’s No. 1 Mining Corporation. It suspended production in August due to lack of explosives and some chemical reagents needed for mining and refining ore. The company has now disclosed that they are likely to resume production next month.

“We suspended our production for about five months due to inadequate supply of explosives and chemical reagents used in processing and refining ore. Now we’ve got the required raw materials and hope to resume mining in December,” an official of Myanmar Ivanhoe told Mizzima.
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Zambian copper production in the first nine months of the year increased by 10.7% on year as copper mines recovered from operational disruptions suffered earlier in the year, a government official told Dow Jones Newswires Wednesday.
An official with the ministry of mines and mineral development said central bank data indicates that Zambian mines produced a total of 421,519 metric tons of copper between January and September, compared with 380,907 tons in the same period last year.
Copper mines were hit by a nationwide power failure in January, which hurt mining operations. The mines have since acquired more fuel-fired generators.
The central Bank is expected to release a detailed report on the sector later Wednesday, he said.
Zambia remains on course to double its output in the medium term despite the turmoil in the global copper market because most investments in the sector were undertaken before the current global financial crisis, said Razia Khan, head of research at Standard Chartered Bank. (more…)