MINING.COM Staff Writer

Posts by MINING.COM Staff Writer:

Miners’ families challenge $8.5bn Massey-Alpha deal

The Charleston Gazette reports on Tuesday that the families of seven miners who died in the Upper Big Branch Mine Disaster in West Virginia have filed a new lawsuit against owners Massey Energy, challenging Massey's proposed acquisition by Alpha Natural Resources. The suit alleges that the CEO and other Massey insiders "will receive tremendous financial benefit" – estimated at some $196m – from the $8.5bn deal, while victims of the disaster "will be subject to great risk and uncertainty." Massey has put its estimated losses from any suits or settlements with the disaster's victims at $78m, or $3m per victim.

BHP Billiton pulls out of Zambian mine partnership: The Post Online

BHP Billiton has dissolved a partnership with Blackthorn Resources to develop a mine in Zambia, according to a report in The Post Online: World's largest mining company BHP Billiton has finally withdrawn from the Mumbwa Iron Oxide Copper Gold project, aborting expectations that Zambia was to herald a new era of top tier miners. Its joint venture partner, Blackthorn Resources, announced that BHP Billiton had pulled out of a copper venture but would retain the right to a two per cent production royalty on any metal mined from the area.
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