February 16, 2012

Mitsubishi to buy 18 pct stake in Peruvian copper mine

Mitsubishi Corp. (8058) will pay an estimated 60-70 billion yen to acquire an 18.1% interest in a Peruvian copper mine that is expected to begin production around 2016, The Nikkei…

February 16, 2012

Condor Resources Inc.: San Martin Drilling Intersects 12.1m of 63.9 g/t Ag and 6.15m of 0.54 g/t Au in Second Drill Hole

Condor Resources Inc. ("Condor" or the "Company") (TSX VENTURE:CN) is pleased to announce that results of the second and third diamond drill hole at the Company's wholly-owned San Martin project…

February 16, 2012

Goldgroup expands Caballo Blanco indicated mineral resources by 314%

Goldgroup Mining Inc. (TSX: GGA) ("Goldgroup" or "the Company") is pleased to announce the updated National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate (the "Technical Report") for its flagship…

February 16, 2012

Vale profits fall 21% after bending to Chinese steelmakers

Vale is the world's largest producer of iron ore and a top nickel miner, reported a quarterly net profit of $4.67 billion, compared to $5.9 billion in the same quarter…

February 15, 2012

Goldcorp achieves record revenues and cash flow; gold reserves increase for eighth consecutive year

Goldcorp reported fourth quarter gold production of 687,900 ounces at a total cash cost of $261 per ounce, leading to record revenues of $1.5 billion and operating cash flows before…

February 15, 2012

Chile Drought Threatens Power at Mines as Reservoirs Dwindle

Chile’s two-year drought has reduced water levels at reservoirs that supply power dams to 40 percent of capacity, threatening electricity generation for the country’s copper mines.

February 15, 2012

Colombia to attract $2.1 billion in gold-related investments by 2015

Gold mining in Colombia is shining bright as major gold players are expected to invest U.S. $ 2,100 million by 2015, reports local newspaper La Republica.

February 15, 2012

AngloGold Ashanti profit increases to record $1.3bn; doubles dividend

AngloGold Ashanti posted record full-year adjusted headline earnings* of $1.3bn and boosted its dividend to further improve cash returns to shareholders.

February 15, 2012

Peru’s Conga Mine future in hands of foreign consultants

Peru’s long-running Conga mine dispute moved slightly forward on Tuesday after the government appointed foreign engineers to oversee an independent review of Newmont Mining Corp.'s stalled $4.8 billion gold project,…

February 15, 2012

Rio Tinto and BHP to finance huge expansion at Escondida in Chile

A week after announcing substantial profits and the expansion of their vast Western Australia iron ore operations, BHP Billiton (NYSE: BHP) and Rio Tinto (NYSE:RIO) said yesterday that they would…