| GOLD |
| Gold Fields to become sole owner of Kyrgyzstan project |
| JSE-listed Gold Fields' acquisition of the remaining 40% interest in the Talas gold/copper/molybdenum joint-venture project (JV), in Kyrgyzstan, from base metals explorer Orsu Metals, would add to the company's geographic diversification strategy, corporate affairs manager Sven Lunsche said Tuesday. "Geographic diversity in terms of project location assists in mitigating risks, as opposed to being dependent on one or two areas," he told Mining Weekly Online. Full Article |
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| MARINE MINING |
| Nautilus Minerals seeks dispute resolution outside arbitration |
| Marine mining hopeful Nautilus Minerals on Tuesday said it continued its attempts to work with the Independent State of Papua New Guinea (PNG) to resolve a dispute surrounding the development of the Solwara 1 marine-mining project amicably. Despite the company preparing to go to arbitration, it said it preferred to settle the matter outside of the arbitration process, even though it would have to be ratified by the State's national executive counsel (NEC), following a recommendation by the State's nominated team. PNG elections are currently under way and it could be some months before a new NEC is formed and able to meet. Full Article |
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| DIVERSIFIED MINER |
| Rio posts production increases, says investment programme resilient |
 | Diversified giant Rio Tinto has reported production increases for its iron-ore, copper, bauxite and alumina and coking coal operations during the second quarter ended June. "The second quarter was strong across most of the portfolio," said CEO Tom Albanese on Tuesday. Full Article |
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| RESOURCE UPDATE |
| Carpathian Gold more than doubles Romanian resource |
| Toronto-listed Carpathian Gold on Tuesday said the latest National Instrument 43-101-compliant gold-resource estimate had more than doubled the resource at its Rovina Valley Project (RVP), in west-central Romania. The latest resource estimate, updating the 2008 estimate, stated that the three sites that comprises the RVP held 7.19-million ounces of gold in the measured and indicated categories – an increase of 134%. Full Article |
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| SILVER |
| First Majestic lifts Q2 production |
| Mexico-focused midtier silver producer First Majestic Silver on Tuesday said it had increased its year-on-year silver-equivalent production by 14% to 2.1-million ounces in the second quarter ended June 30. The miner had produced 1.9-million ounces of silver from its three mines in Mexico – an 8% improvement when compared with the same period last year. Full Article |
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| GOLD |
| Golden Star lowers full-year guidance despite improved Q2 production |
| Ghana-focused Golden Star Resources on Tuesday said that at 85 183 oz, it had produced about 10% more gold in the second quarter than it did in the first. The June-quarter's increased production brought the company's total production to 162 908 oz of gold, which was well within its guidance range. Full Article |
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| M&A |
| Prophecy Platinum closes Ursa Major Minerals acquisition |
| Toronto-listed peers Prophecy Platinum and Ursa Major Minerals on Tuesday announced that the all-script deal whereby Prophecy acquired Ursa closed on Monday. Full Article |
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| INDUSTRIAL ACTION |
| First Quantum suspends Mauritania operations |
| oronto- and London-listed First Quantum Minerals on Tuesday said it had temporarily suspended operations at its Guelb Moghrein copper/gold mine, in Mauritania, as a result of an illegal strike by unionised employees. The company said it continued to work through a government-facilitated mediation process to achieve a resolution to the illegal strike. Full Article |
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| COAL POWER |
| FutureGen moves ahead with EPA application for power project |
| The FutureGen Alliance on Tuesday affirmed that Morgan county, in the US, would remain the preferred location for its carbon dioxide (CO2) storage site and that it would proceed with an application for a US Environmental Protection Agency permit for the site. The project entails a first-of-its-kind coal-fueled power plant with near-zero emissions that would produce hydrogen and capture and store CO2 in deep geological formations. Full Article |
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| MINE SAFETY |
| Fire at Newmont mine in New Zealand forces evacuations |
| A fire at a New Zealand gold mine owned by Newmont Mining Corp on Tuesday forced the evacuation of almost 30 miners holed up in underground refuge chambers and halted all operations. Newmont Mining Corporation, the world's second-largest gold producer, said 28 miners were underground when a truck engine started the fire at its Waihi Trio gold mine, about 120 km (75 miles) southeast of Auckland on New Zealand's North Island. Full Article |
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| PEOPLE |
| Aurico Gold CEO resigns |
| AuRico Gold Inc said CE René Marion resigned for health reasons and was replaced by Scott Perry. Perry joined the gold miner as CFO in February 2008. Full Article |
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| FATALITY |
| Fatality at Didipio - OceanaGold |
| ASX- and TSX-listed OceanaGold has reported another fatality at its Didipio project, in the Philippines, caused by a severe storm that impacted the site. The miner said on Tuesday that it was investigating the incident, after a mining contractor lost his life. No further details were made known. Full Article |
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| URANIUM |
| Bannerman's Etango gets environmental nod |
| ASX- and TSX-listed Bannerman Resources has received environmental approval from the Namibian Ministry of Environment and Tourism to develop its Etango uranium project. The latest approval complemented the environmental approval received last year for the project's off-site infrastructure, and was a necessary step in obtaining a mining licence. Full Article |
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| COMMODITY TRADING |
| Goldman Sachs Q2 commodities risk down 23% from Q1 |
| Goldman Sachs' commodities trading risk fell 23% in the second quarter from the previous three months, company results showed on Tuesday, as tough markets sidelined many investors in oil, metals and agriculture. The Wall Street investment bank said its Value-at-Risk (VaR) in commodities averaged $20-million a day in the three months to June, versus the $26-million averaged in the first quarter. Full Article |
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