Kazakhstan, strategically placed between China and Russia, has a wealth of mineral riches which it is eager to profit from. While Kazakhstan is probably best known for its oil, changes are on the horizon as mining companies flow in searching for copper, gold, zinc and other natural resources.
Copper Mining News
Diamonds North Resources Ltd. announced on Wednesday that the 2011 exploration program has begun on the Hepburn property in the Northwest Territories. The program will focus on delineating areas of concentrated mineralization for drilling using induced polarization (IP) surveying and prospecting.
Iberian Minerals Corp. (TSX VENTURE:IZN) today announced financial and operating results for the three and six month periods ended June 30, 2011, with comparative figures for the three and six month periods ended June 30, 2010. The Company reported net income of $47.80 million for Q2 2011, representing $0.13 per share.
Midnight Sun Mining announced that it has entered into an agreement dated July 28, 2011 (the "Agreement") with Logwood Investments Inc., a closely held Namibian Corporation at arms length to the Company (the "Optionor"), whereby the Company has acquired the option (the "Option") to earn a 60% interest in certain mineral properties in Namibia (the "Properties").
Cornerstone Capital Resources Inc.: environmental license granted for La Encrucijada project in Ecuador
Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) today announced that the Ministry of Environment (ME) of Ecuador has granted the environmental license for Cornerstone's La Encrucijada gold-silver-copper project located in southern Ecuador (see news releases of February 17, March 29 and June 28, 2011). The environmental license is valid for the 4-year initial exploration phase of the project which covers 8,085 hectares. A reconnaissance field program has recently commenced, which includes geological mapping and prospecting of the entire property, as well as a reassessment of previously defined gold-silver anomalous areas. All project data will be integrated into Cornerstone's regional database and a mineralization model defined. Results of the initial reconnaissance work will be announced later this fall.
As announced on February 15, 2011, Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") executed a definitive option agreement (the "Deed") with Tigers Realm Minerals Pty Ltd. ("Tigers") an Australian based, privately owned resource company. Pursuant to the Deed Tigers may earn up to a 70% interest in the Company's Jelai Gold Project by meeting certain project expenditure obligations and completing a bankable feasibility study.
Asia's commodities business is still largely insulated from looming fears of yet another global financial crisis, although new projects might face difficulties in getting financing.
Funds reduced bets on rising commodity prices by the most in any week since February 2010 on mounting concern that a weakening global economy will slow demand for raw materials. In the week ended Aug 9, speculators cut their net-long positions in 18
Reuters reports Peru's mining firms have agreed to pay higher royalties in an overhaul of the current system, sources on both sides of negotiations between companies and leftist President Ollanta Humala's government said on Tuesday. Under the new system, companies would pay royalties based on their operating profits, not sales and will be be similar to the system used in Chile. The new royalties rates still need to be defined, but they would likely be higher than the current rates of 1% – 3% charged on sales. The initiative comes as mining companies in Peru plan to invest $42.5 billion over the next decade, mainly in copper and gold projects. Peru is the world's largest miner of silver and the second-largest miner of copper.
The market is expecting BHP Billiton to post record-setting annual profits of $US22.1 billion next week on revenues forecast to be a staggering $71.9 billion. BHP investors, whose stock has hardly moved in a year despite stellar growth rates at the Melbourne-based company, would want to hear if another share buyback will follow the $10 billion round completed in June and any update on its purchase of Petrohawk. The world's biggest miner has a history dating back 150 years and its operations span the globe from potash in Canada (pictured) and coal in South Africa to nickel in Australia and copper in Chile.
Barrick Gold Corp. closed down slightly and outperformed a weak broader market on Tuesday despite a downgrade from CIBC World Markets, which is advising investors to remain cautious as the miner diversifies into copper. Barrick is up some 12% this summer, tracking bullion's spectacular rise, but investors have not welcomed its move into base metals. In April it outbid a Chinese company for Equinox in a $7.7 billion deal, its first real foray outside gold. The global growth outlook has clouded considerably since then and copper – a good indicator of economic activity – is trading at 9-month lows.
Yukon-Nevada Gold announced its financial and operational results for the second quarter ended June 30, 2011. Highlights for the three-month period ended June 30, 2011 include the Jerritt Canyon Mine whihch produced 22,168 ounces from purchased ore, stockpiles and mining operations in the three months ended June 30, 2011, compared with 18,441 ounces in 2010, reflecting a 20% increase in production despite continued shutdowns.
Anvil Mining is planning to start commercial production of copper at its newly constructed plant at the Kinsevere copper mine in the Democratic Republic of Congo (DRC) in the current quarter. The new plant is expected to triple Anvil Mining's annual
Nova Scotia's Erdene Resource Development Corp. on Monday provided an update on the Company's principal projects in conjunction with the release of its second quarter financial results to June 30, 2011. Erdene has a current working capital position of approximately $4.4 million, including that of its controlled subsidiary Advanced Primary Minerals Corp., with 90,323,377 common shares issued and outstanding.
Ormonde Mining announced on Monday it has been awarded four new permits, which extend the area of the La Zarza copper project in the Huelva Province of southern Spain by around 95 square kilometres. La Zarza is being developed in a joint venture of London-listed Chilean miner Antofagasta dating back to October 2009. In terms of the deal Antofagasta could earn an initial 51% interest in the La Zarza permit area by spending US$7 million over a three year period on exploration activities.
Anvil Mining Ltd expects to reach design capacity of 5,000t/month of copper cathode production in the December quarter this year. In the June-quarter results announcement the company said the Kinsevere Stage II SX-EW plant in the Democratic Republic of the Congo (DRC) was “essentially complete” having produced 2,023t and 3,173t in June and July, respectively.
In late July 2011, Manicouagan completed a follow-up diamond drill program on its Kasagiminnis Lake Project to test for the down-dip extension of the encouraging results from the drill program carried out in April this year. The current drill program consisted of five holes KAS-11-10 to 14 totalling 1,095.3 metres. Four holes (KAS-11-11 to 14) all intersected the mineralized zone at depth. Assay results are expected by the end of August. Hole KAS-11-10 had to be abandoned due to ground conditions.
Copper was steady on Monday, supported by glimmers of economic resilience in Japan, a drawdown in inventories of the metal, and a softer dollar, but investors were wary after wild market swings last week.
Zambian copper miner Mopani has invested a further $80-million in gas capture equipment and a second sulphuric acid plant aimed at capturing some 97% of sulphur dioxide by 2015. CEO Emmanuel Mutati said on Monday the
Cascadero Copper's (TSX VENTURE:CCD) 50% owned subsidiary Salta Exploraciones SA (Salta) received assays on its recently completed six (6) core hole drill program consisting of 1,664.7 metres on the Las Burras copper-moly-gold porphyry prospect in Salta
Saara Kuugongelwa- Amadhila THE mining industry has given Finance Minister Saara Kuugongelwa-Amadhila until Wednesday to reconsider her intended tax reforms before they alert investors worldwide to “the most devastating elements” of her “proposed
JAKARTA - Indonesia will provide a tax holiday for investors committing at least one-trillion rupiah ($117-million) into base metals, oil refining, petrochemicals, renewable energy, machinery or telecoms equipment, finance minister Agus Martowardojo said
Latin Resources' (LRS: ASX) strategically well positioned Ilo Norte project in Peru is developing into a copper gold play, after all eight exploratory holes drilled along a 1.25 kilometre strike intersected copper and iron (magnetite) - along with
UK London based Investment fund “Red kite mine”, will provide credit of 30 million Euros for opening of copper and gold mine Cerovo 1, within the Mining basic company Bor (RTB).
Fire River Gold announced it has negotiated a three year contract with Glencore International Limited for the sale of the copper concentrate produced at Nixon Fork Gold Mine. The gold rich copper concentrate is to have moderate copper content which has varied from 10% to 25% historically.