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Dissident shareholder group looking to replace Ursa Major board

The Canadian Press reports a group of shareholders in copper, nickel and platinum junior miner Ursa Major Minerals is looking to gather support for a bid to oust the company's board over the underperformance of its stock on the Toronto Stock Exchange. Merchant bank Forbes & Manhattan Inc. and Inspiration Mining Corp., which is Ursa Major's largest shareholder, said Tuesday they have filed a dissident proxy circular seeking backers for a move to elect new directors at an annual meeting June 23. Ursa Major was trading up 7.4% on the TSX by mid-day Tuesday.

Mercator production for two months exceeds projected Q2 2011 production guidance

Mercator Minerals is pleased to announce that that for the first two months of Q2 2011, the Company produced 7,538,130 pounds of copper and 1,128,674 pounds of molybdenum at its wholly owned Mineral Park mine in Arizona, as compared to total Q2 2011 production guidance for the months of April to June, given on March 8, 2011 of 10,163,548 pounds of copper and 1,033,558 pounds of molybdenum, representing 74% of the guided quarterly copper production and 109% of the guided quarterly molybdenum production during a period of two months of a three month quarter, with a full month of production to come. 

CP: Wesgold Minerals gets option to buy majority stake in Colombian mining property

Wesgold Minerals has struck an option agreement with a polymetallic property in Colombia. According to Canadian Press, Wesgold has acquired an option to buy up to 51 percent of a property that hosts iron-oxide-copper-gold deposits: The Vancouver-based junior miner says it bought the option for an initial 11 per cent interest in the property, known as the Cordoba Property, from Minatura International LLC for a total cash cost of $4 million. The property consists of a mining concession contract and several mining claims covering 25,790 hectares, about 200 kilometres north of Medellin.

Copper Mountain Mine processes first ore

Copper Mountain Mining announced that construction of the processing plant is complete and on scheduled for June 2011 production from the Copper Mountain Mine. Mining is proceeding as planned and has been delivering ore to the primary crusher since mid April. The Company has been stock piling ore as part of preproduction mining activities.

With probable election of Humala as president, miners in Peru are in for bumpy ride

The rebranding of former fiery leftist Ollanta Humala apparently struck a chord with Peruvian voters as exit polls Sunday showed the former army commander is leading the race to become Peru's next president. The 48-year-old Humala declared victory late Sunday night in an apparently razor-thin win. He would succeed President Alan Garcia on July 28. Image from Agência Brasil under Creative Commons license.

Orvana announces commissioning of El Valle-Boinas/Carles gold/copper mine, northern Spain

Orvana Minerals announced the commissioning of its El Valle-Boinás/Carlés ("EVBC") gold-copper mine in northern Spain by Kinbauri España S.L.U. ("Kinbauri"), a wholly owned subsidiary of Orvana. EVBC initiated the start-up and commissioning of the mill May 31, 2011, with the first shipment expected in June. EVBC will initially produce at 70% capacity, increasing to its full annual target production levels of over 100,000 ounces gold, 3,900 tonnes copper and over 150,000 ounces of silver once the shaft is completed in early 2012.

Rio Tinto and Chinalco form exploration JV

Rio Tinto and Chinalco will be positioning their drills in Mainland China, the two companies announced today, in a new exploration joint venture to operate under the name Chinalco Rio Tinto Exploration Co. Ltd. (CRTX). According to a press release issued by Rio Tinto, the primary focus of CRTX will be copper exploration, with coal and potash to be considered later.