World Mining Exploration News

300 Kiwira coal miners go on strike over pay

Over 300 workers of the Kiwira Coal and Power Mine yesterday demonstrated from the city centre to Mwanjelwa areas, asking the government to intervene and pressurise the investor, Tan Power Resources, to pay them over 1.5bn/- being arrears of five month salaries.

The coal mine workers complained to the Mbeya branch general secretary of the Tanzania Association of Workers in Mining, Construction and Allied Sectors (TAMICO), Mr Akisoma Thomas Cheyo that the mine had been in crisis since the new investor took over. They claimed that the investor had failed to settle 1.5bn/- claims.

They claimed to be paid 60,000/- as minimum wage, the pay they said was outlawed by the government. Mbeya Regional Commissioner, Mr John Mwakipesile said that the coal mining firm had suspended production for some time now, saying the workers had remained idle. Read the rest of this entry »

Posted in General News, Mining Industry | No Comments »

Obama stimulus no sure boon for equipment makers

Don’t count on President-elect Barack Obama’s plans for a massive investment in infrastructure to help out Caterpillar Inc , Terex Corp and other makers of bulldozers, dump trucks and excavators.
Those heavy equipment makers suddenly face a world of so many challenges, including a likely drop in spending by their well-heeled energy and mining customers, that even the biggest U.S. public works project in 50 years — exactly what Obama is proposing — won’t be much help.
Toss in the fact that there is a lot of perfectly good used equipment sitting around because of the downturn in residential construction, and the belief that spooked contractors are more likely to lease equipment until the economy starts showing signs of recovery, and the outlook for the sector doesn’t look good.
“Builders don’t have to buy cranes or bulldozers,” said Matt Collins, an analyst at Edward Jones. “And they’re probably definitely not going to do it if they’re worried about the economy.”
Read the rest of this entry »

Posted in Equipment, Mining Industry, Mining Technology | No Comments »

New advances in modular building for mining industry

JSE-listed manufacturer of prefabricated modular units Kwikspace Modular Buildings has successfully manufactured and delivered two modular buildings to diversified miner Xstrata for its Goedgevonden coal mine, near Ogies, in Mpumalanga.

The modular buildings are required to house in excess of 20 t of mining equipment valued at R15-million.

“These particular buildings are a noteworthy achievement for Kwikspace, since they are larger, broader and heavier than any units the company has manufactured before,” says Kwikspace CEO Keith Coulthard.

A cost-effective and time- sensitive solution was needed to house the switchgear mining equipment for protection against damage from weather conditions. Read the rest of this entry »

Posted in Equipment, Mining Industry, Mining Technology | No Comments »

Redhawk Announces Changes to the Board of Directors

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. Read the rest of this entry »

Posted in Copper, Exploration, Mining Company | No Comments »

City hears concerns about water leasing proposal

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. Read the rest of this entry »

Posted in Copper, Mining Industry | No Comments »

Bougainville landowners call for mining

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.
Read the rest of this entry »

Posted in Copper, Mining Company | No Comments »

Chinese coal enterprises seek for bottom fishing in Australia

China’s coal enterprises are taking good opportunities of bottom fishing in Australia amid plunging coal price, shrinking coal market value in Australia and depreciating Australian dollar.

Earlier, a report went that Yanzhou Coal was considering a 3 billion-Australian-dollar bid for Australian coal producer, Felix Resources Ltd. Some managers of Yanzhou Coal visited Australia recently to take on-site investigation of the Ashton open pit coal mine of Felix.

However, Yanzhou Coal declared that the company was looking for good opportunities for overseas acquisitions but had not reached any cooperation agreement.

Meanwhile, Shenhua Watermark Coal Pty Limited, a fully owned subsidiary of Shenhua Group Corporation Ltd, China’s largest coal producer, Read the rest of this entry »

Posted in Coal, Mining Industry, Mining Investment | No Comments »

Coal of Africa gets bigger Transnet rail quota

Coal of Africa said on Wednesday Transnet had increased the miner’s rail quota for delivering thermal coal from Mooiplaats to South Africa’s port at Richards Bay to 3 million tonnes.

The company also said the first coal out at Mooiplaats and the development of underground access portals were progressing according to schedule.

“TFR have allocated CoAL the current empty wagons returning from ArcelorMittal’s Vanderbilj Park steel works and have allocated further wagons to enable the total targeted 3 million tonnes of coal exports to be handled through Grindrod’s facility at Richards Bay,” it said in a statement.

South Africa is one of the world’s major coal exporters, but regular train derailments and delays along the Richards Bay coal line have dented business confidence in freight logistics group Transnet’s ability to meet international commitments. Read the rest of this entry »

Posted in Coal, Mining Industry | No Comments »

Japan Stock Futures Climb in U.S. Trading; BHP, Posco Advance

Japanese stock futures rose in U.S. trading as President-elect Barack Obama pledged to boost the U.S. economy with the biggest public-works spending package since the 1950s.

BHP Billiton Ltd., the world’s largest mining company, surged 8.9 percent as Obama’s plan to increase infrastructure spending spurred gains in commodities. Posco, Asia’s third- largest steelmaker, increased 11 percent, helping lead gains among construction and engineering companies. Toyota Motor Corp., Japan’s largest automaker, rose 3.5 percent on speculation the economic stimulus will spur demand for products and as lawmakers agreed in principle to provide funds to carmakers.

The Bank of New York Mellon Asia ADR Price Index, which tracks American depositary receipts of the region’s companies, gained the most in two weeks, rising 5.9 percent to 88.08.
Read the rest of this entry »

Posted in General News, Trade & Market | No Comments »

Job Losses Drag Gold Down, Oil Retreats

It’s very grim. Shedding its workforce at the fastest pace in 34 years, the US employment scene has become very grim. The tally of year-to-date lost jobs has now reached the 2 million figure. Not surprisingly, the number of homes in foreclosure neared 3 per cent in the third quarter after a 76 per cent rise. It did not take too long for various markets to slump following the release of the dismal US labor statistics. Oil traded at four-year lows under $42 per barrel, copper shed 6.36 per cent, and the gold price staged its own cave-in, shedding up to $25 and retreating to under the previously warned-about area of support for gold per ounce at $745, to touch $739.80, in the US market. New York gold futures fell sharply to close just above $750 an ounce, ending the week more than 8 per cent lower as the bleak US jobs report triggered wholesale liquidation of assets across the board. “Gold might be dragged down with other financial assets if the financial market heads for another major downward leg,” said Jeffrey Christian, managing director of CPM Group. He added: “Gold tends to be liquidated as investors needed cash when stocks decline sharply and because of deleveraging.” Noted Matt Zeman, Read the rest of this entry »

Posted in Gold, Mining Investment, Oil & Gas, Trade & Market | No Comments »