World Mining Exploration News

Cash Minerals Ltd. today announced that it has successfully reached a settlement agreement with a creditor of the Company to re-structure $352,450 in outstanding net debt as at September 29, 2008. Cash Minerals will settle the outstanding amount through the issuance of 2,000,000 common shares of the Company. This transaction is subject to TSX Venture Exchange approval. Following the completion of this debt settlement, Cash Minerals will have 119,135,952 common shares issued and outstanding.

Cash Minerals is a Canadian-based energy company focused on uranium and coal exploration. Under an agreement with joint venture partner Mega Uranium Ltd., Cash Minerals can maintain a 75% working interest in the highly prospective Igor property, located in the Wernecke Uranium District, Yukon, by completing a bankable feasibility study on the Igor property by December 31, 2012. Wernecke Uranium properties include numerous iron-oxide copper-gold-uranium (IOCG-U) and structurally-controlled hydrothermal uranium targets. (more…)

The Beard Company today reported that on December 31, 2008 it entered into an agreement that finalizes the sale of the Company’s entire interest in BEE/7HBF, LLC (”BEE/7HBF”) effective as of such date. BEE/7HBF was a partnership between Beard Environmental Engineering, LLC, a wholly-owned subsidiary of Beard, and 7HBF, Ltd. (”7HBF”), a Texas limited partnership. BEE/7HBF conducts fertilizer manufacturing and sales activities in the People’s Republic of China through its wholly-owned subsidiary, Xianghe BH Fertilizer Co., Ltd. (”XBH”). With the above-described transaction now concluded, BEE/7HBF has become a sole member LLC owned entirely by 7HBF.

In December 2007, The Beard Company’s Board of Directors voted to discontinue the China Segment effective December 31, 2007, and elected to dispose of the Company’s fertilizer manufacturing operations and related interests in China. (more…)

The Ministry of the environment ministry has given permission for the expansion plan of Usha Martin Limited mining facility in West Singhbhum.

This company is in the press release stated that they have received permission, which paved the way for exploration in the Vijay-II Noamundi mines in the district.

The Company has obtained the permission of the environment on Dec. 22 from Ghatkuri PANCHAYAT, where mining is located.

Usha Martin has been applied to the expansion of iron ore and manganese mining in this area in 2007. Mining in the region for the company that has received the permission of the green is expected to produce around 0.6-2.5 million tons of ore each additional year. (more…)

The vast potential of the Pebble deposit is becoming more clear each day.

So far 476 holes have been drilled to determine the copper and gold mining prospects of the Southwest Alaska region, which also features some of the world’s top salmon fisheries.

A report by companies pushing the project says the deposit holds close to 72 billion pounds of copper and 94 million ounces of gold.

At today’s mineral prices that’s worth about $236 billion. But six months ago, the resource would have fetched closer to $500 billion.

The reports numbers do not reflect potential production costs to the remote region; the project could still be deemed uneconomical. (more…)

The total value of Alaska’s mineral industry in 2007 set a new record of approximately $4 billion, up 13.3 percent from the 2006 level, the state Department of Natural Resources announced Nov. 5.

The total value combines exploration and development expenditures with production value. The figure is used as a general indicator of minerals industry activity levels in Alaska.

Minerals industry employment also reached the highest number of jobs over the past decade, at 3,558 full-time-equivalent positions, the department said in a press release. Alaskan metal miners made an average weekly wage of $1,578 during 2007.
(more…)

Commodity prices sank and analysts tipped future projects were now in doubt.

Albert Landman of Tricom Equities said resources had become the poor performers in the market.

“It has really fallen away the last couple of months,” he said.

“The pessimism about slowing world growth affecting commodity prices is being dovetailed by the big hedge fund redemptions.

“The question isn’t just how bad the world growth will slow to but when does this selling (in resources stocks) finish.”
(more…)

Golden Dory Resources (”Golden Dory”) is nowtrading under the ticker symbol (TSX-V: FA). Golden Dory received finalapproval from the TSX Venture Exchange and recently completed thequalifying transaction (reverse takeover of 540 Capital Corporation ofCalgary). The company has commenced exploration programs on its portfolioof uranium, copper and gold properties in the Province of Newfoundland &Labrador, Canada. Golden Dory recently completed a $1.83 million financingthrough Canaccord Capital Corporation and MPartners consisting of the saleof flow through and non flow through shares. The company’s key mineralproperties are described below. Technical reports on all key properties areavailable on SEDAR.

PROJECTS

Golden Dory has interests in 5 high quality projects in the mining friendlyjurisdiction of Newfoundland and Labrador, Canada, including 100% interestsin the Burin (U), Sterling (Cu/Co), and Brady (Au) projects. (more…)

Canada-listed miner First Quantum Minerals expects Zambia will agree to a compromise on its new mining tax regime in coming months.

“We expect to reach a result that everybody is quite happy with,” President Clive Newall told a mining conference sponsored by RBC Capital Markets.

Mining firms in Zambia have strongly opposed a new 25 percent windfall tax plus higher royalty and corporate taxes, intorduced in April.

The recent death of Zambia’s president, which will require a new election, is expected to delay slightly a new tax agreement, he added. (more…)