World Mining Exploration News

Research and Markets has announced the addition of the “Mining Industry – Global Strategic Business Report” report to their offering.
The global outlook series on the Mining Industry provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a bird’s eye view of the industry, and highlights the implications boded by the consolidation wave, and rising mineral prices. The discussion on the global market is laced with 61 statistically rich, market data tables evaluating demand and consumption patterns by country/region and end-use applications, across market verticals such as, Platinum Group Elements, Bauxite and Alumina, Fluorspar, Feldspar and Nepheline Syenite, Copper, Lead, Manganese, Nickel, Cobalt, Zinc, Tin, Zirconium, Gold, and Iron Ore, among others. The reader also stands to gain an introductory prelude to regional markets such as the US, Canada, Armenia, Russia, Spain, Australia, China, India, Indonesia, the Philippines, Africa, Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador and Peru. (more…)

The Asian investors believe that there is opportunity in every great crisis; and the gold mining industry’s dramatic downturn–a surprising result of the global financial meltdown–is no exception to the rule, in their view.

They see a physical gold shortage, which, coupled with recent actions by governments and central banks that are inherently inflationary, should lead to higher gold (and silver) prices. Asian analysts and investors assert (a) that China, despite mounting economic slowdown concerns, still maintains near double-digit annual growth rates, and (b) that demand for precious metals as a store of value and base metals for the production of goods and infrastructure is likely to remain strong.

All of which explains why Asian institutional and institutional-class individual investors are said to be specifically interested in Mexico, a country with a mining history that spans almost 500 years. (more…)

Minera Andes Inc. is pleased to announce details of the San Jose mine performance to September 30, 2008. The San Jose project is operated by Minera Santa Cruz S.A. (”MSC”) and is owned 49% by Minera Andes and 51% by Hochschild Mining plc (”Hochschild”) (HOCM.L: Reuters and HOC LN: Bloomberg – London Stock Exchange). Hochschild is the operator of the project. Gross proceeds from metal sales during the third quarter of 2008 were $18.5 million.
Production at the San Jose mine in Q3 2008 totaled 990,000 ounces of silver and 12,340 ounces of gold, of which 49% is attributable to Minera Andes. Mill throughput increased 11.5% compared to the previous quarter, but silver production was 9.4% lower and gold production was 0.6% lower than the previous quarter due to lower head grades.

SAN JOSE MINE PRODUCTION (more…)

The speculative end of the resources sector is being beaten up something shocking. Tales of woe abound, with just a sample of announcements on Friday showing the euphoria of the past five years has been replaced by the harsh new reality of crumbling commodity prices and the start of a prolonged equity funding drought.

Independence Group has pulled out of the Ravensthorpe nickel joint venture, leaving Traka to find a new big brother, while Advance Energy has deferred a planned options and placement issue.

Vital has reduced the pace of work at its Watershed tungsten project in Queensland, and Terramin has had to cope with the news that OZ Minerals wants out of their Menninnie lead/zinc project after spending $8 million.
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Canadian mining major, Inmet Mining Corporation (TSX:IMN), has joined Australian gold and
base metal explorer, Global Geoscience Ltd (ASX: GSC), with an exploration agreement over
Global’s 100%-owned Los Graceros Cu-Mo porphyry project in northern Mexico.

Global has granted Inmet a three-year option to acquire 51% of the Mexican subsidiary company
that holds the tenement over the project area.

To maintain the option, Toronto-based Inmet must spend US$2 million on exploration over the
three year period, including a minimum of $350,000 during the first year. (more…)

Wealth Minerals Ltd. is pleased to announce the results from the initial exploration work program at its Pampa Coria property in north-western Argentina.
Catena Target – Porphyry Copper-Gold
At the Catena target, 64 samples were collected from a northwest trend measuring approximately 7.5 kilometres by 2.5 kilometres. Results from these initial characterization samples returned values ranging from below detection limits to 1.46% copper, 2.26 g/t gold, 5.7 oz/t silver and 0.02% molybdenum, along with elevated lead and zinc (Figure 1). Several highlight results are tabulated below in table 1.
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Recovering minerals from the sea has long had a vague, but elusive attraction. After all, the science of hydrometallurgy is based on the chemistry of recovering metals from solution, and it is well-known that the sea contains huge tonnages of dissolved metals.

In reality, however, with the exception of near-shore diamonds and construction aggregates the economics have never panned out, as anyone with a memory that goes back to the 1970s and 1980s will recall. With earlier concepts of recovering gold from seawater having been proven to be unworkable, considerable sums were then spent on evaluating deep-sea manganese deposits, with the idea of scooping up enriched nodules that would form a sort of pre-prepared concentrate. That, too, came to nothing, although in hindsight, the techniques and equipment used proved valuable in terms of advancing deep-sea exploration.
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Bear Creek Mining (TSX Venture: BCM) (”Bear Creek” or the “Company”) is pleased to provide an update on the Prefeasibility Study on the Corani silver-lead-zinc deposit located in southern Peru.
Preliminary design criteria have been defined, field engineering test work has been initiated and the Study is on track for completion in early 2009.
Andrew Swarthout, Chief Executive Officer, states “We are very pleased with the positive advances from our prefeasibility team and we remain very confident that Corani will become one of the world’s top silver producers. The Corani Scoping Study completed in January 2008 demonstrated a very robust silver project at throughput rates of 30,000 tonnes per day at an average annual silver production of 17 million ounces per year over a 12.5 year life (see news release 18 January, 2008). The realities of the commodities and capital markets have since changed considerably. Yet, Corani presents several highly attractive development alternatives which directly address these changes in market conditions while maintaining a very robust project that represents value far beyond the Company’s current market capitalization. (more…)