Nevsun Resources Ltd. advises that the British Columbia Supreme Court has refused to permit a claim against Nevsun to proceed as a common law class action. The court did permit the lawsuit by the three named plaintiffs to continue.
Eritrea Mining News
Vancouver-based miner ships first zinc concentrate from flagship Bisha mine in Eritrea which started life as a gold-silver project in 2010.
$11 million regional drilling program defining Bisha camp in east Africa as a world-class multi-deposit volcanogenic massive sulphide district.
Should foreigners who allege human rights abuses against a Canadian company operating in a foreign land have their case heard in a Canadian court?
Shares in Sunridge Gold pop higher after receiving mining licence for super high-grade copper and gold complex in Eritrea.
The Vancouver-based miner has released an independent report that found no evidence of forced labour or human rights violations at its Eritrean gold and copper operation.
Nevsun Resources expands mineralization at its Harena copper-polymetallic deposit near the Bisha mine.
According to the legislators, international mining companies —mainly from Australia, Canada and the U.K— are using the forced labour of Eritreans in their operations.
Winners were few and far between Friday, but punters couldn't resist Nevsun Resources stock after low-cost high-grade Eritrea mine delivered on all counts.
Analysts claim Sub-Saharan Africa's investment environment is deteriorating.
The group claims the Eritrean government has been using forced labour to construct a gold mine, in a joint venture with Canadian Nevsun Resources Ltd.
But companies do not need to go too far, say experts, as there are plenty of opportunities inside Africa.
Sunridge Gold Corp. (SGC:TSX.V/SGCNF:OTCQX) has today filed a National Instrument 43-101 compliant technical report regarding the new resource estimate for the Gupo Gold deposit, the fourth deposit that forms the basis of the Asmara North Pre-feasibility Study.
In a new prefeasibility study Sunridge Gold pulled four deposits together into a single mining scenario at its Asmara copper-zinc project in Eritrea for the first time, giving it added minelife and net present value.
The tale of Eritrea's first major miner, Nevsun, which has had mixed fortunes this year and gold explorer, Andiamo Exploration, whose chairman has been a long time believer in the country's mineral potential.
South Boulder Mines Ltd (ASX:STB) is pleased to announce that the JORC/NI43-101 Compliant Mineral Resource Estimate for the flagship Colluli Potash Project now stands at 1.08 billion tonnes @ 18% KCl* for 194Mt of contained potash.
Nevsun Resources, which owns the Bisha gold mine in Eritrea, made $78.3-million in net after-tax earnings in the last three months of 2011, about 12% lower than the previous quarter’s profit, as output and prices shrunk.
Shares in Nevun Resources Ltd. fell off the cliff this morning after the company issued a press release saying its 2012 production estimate from its Bisha copper-gold mine in Eritrea is half of what the mine produced in 2011.
Eritrean National Mining Corp. has agreed to pay US$32 million for a 30 percent stake in Chalice Gold Mines' Zara gold project, Bloomberg reported Wednesday:
Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea. The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.
Mining Weekly reports on the Vancouver-based company's significant milestone: completing the project "very substantially" below its $260-million cost target, according to CEO Cliff Davis. Click here for the story