African Iron shareholders back $338m takeover
African Iron's board has recommended shareholders accept a $338 million takeover offer from Exxaro first announced on Jan. 11, The Australian reports:
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Africa diamond mine scam implicates Korean ministers and execs who made quick $70 million
Originally touted as a 'model of successful resource diplomacy' Korea's successful 2010 bid for a diamond project in Cameroon now appears to have been an elaborate scheme that netted company insiders and senior government officials at least $70 million in stock trading profits.
How whetted is your risk appetite? Gold diggers explore the final frontiers
As attractive deposits become harder and harder to find in traditional markets miners are pushing the limits of the political risk they are willing to take on. But things can go spectacularly wrong.
Ekati output down 29% as it enters twilight years
IDEX News reports BHP Billiton's Ekati diamond mine produced 481,000 carats in the last quarter of 2011, a 29% decline compared to a year ago. 80%-owner BHP Billiton wants to sell the mine, but Ekati could fetch only $300 million to $500 million a new report shows.
Sunshine Oilsands gunning for $700 million IPO on Hong Kong exchange
A Canadian oilsands company, Sunshine Oilsands, is turning to the Hong Kong stock exhange in hopes of raising between $500 million and $700 million through an IPO.
Quadra FNX: Victoria Mine production up 16%
Quadra FNX Mining (TSX:QUX) has updated the resource at its Victoria Mine in Ontario, Canada.
Summit mine ready for commercial gold/silver production
The Summit mine in southwest New Mexico is ramping up to commercial production this month.
Oh no, world’s biggest emerald may not be so special after all
The Calagary Herald tracked down Shane McClure, a gemologist, for his opinion of the world's largest emerald that is being auctioned in Kelowna this month, and McClure is wondering if the emerald is actually dyed beryl, a mineral that is relatively worthless.
Freeport-McMoRan’s net income in 4Q halved but still finishes the year up
Freeport-McMoRan (NYSE:FCX), which operates the world's largest gold and copper mine in Papua, Indonesia, said that its 4Q net income tumbled to $640 million or 67 cents per share compared with net income of $1.5 billion or $1.63 per share a year ago.
