Mining and Exploration

Rio Tinto has announced it is committing US$4.2 billion to developing its tier one iron ore business.

The investment covers $3.7 billion for expansion of the Pilbara iron ore operations in Western Australia; and $501 million for further infrastructure development at the Simandou iron ore project in Guinea.

Liberty Gold Corp. has acquired a 60 percent interest McCord Creek Property gold project in central Alaska's Tolovana Mining District.

Liberty Gold will be the project's operator.

The McCord Creek project comprises 14 State mining claims located 70 miles northwest of Fairbanks in the Tintina Gold Belt, which has produced nearly 30 million ounces of gold to date and has experienced accelerated gold exploration, development, and mining activity over the years.

Romarco Minerals has renegotiated a number of key contracts to re-align equipment deliveries for the development of the Haile Gold Mine in South Carolina.

Last month, Romarco received a schedule from the US Army Corps of Engineers for completing the Environmental Impact Statement for the Federal 404 Wetlands permit. The schedule gives the decision date for the permit as 16 August 2013, somewhat later than Romarco had anticipated.

Despite the contribution mining makes to any economy there are always plenty of hoops to be climbed through as Alan Swaby learns in conversation with one of Canada’s representative bodies.

There is no escaping the fact that extraction of mineral resources from the earth and its oceans is not sustainable in the long-term. However, there are ways in which the industry can work to a more sustainable model.

Anadarko Petroleum has announced the discovery of a “significant” natural gas accumulation at one of its wells offshore Mozambique.

The discovery was made in the Offshore Area 1 of the Rovuma Basin. The Atum discovery well encountered more than 300 net feet (92 metres) of natural gas pay in two high-quality Oligocene fan systems, the company said.

Harry Winston Diamond Corporation announced its first quarter Fiscal 2013 results today for the quarter ending 30 April 2012. 

Consolidated sales increased 34 percent to $192.5 million for the first quarter compared to $143.9 million for the comparable quarter of the prior year. Operating profit was $18.7 million compared to $4.7 million in the comparable quarter of last year.

Alan Swaby looks at a Chilean coal project that is going to create a greater level of energy security while increasing the economic activity of a region that has long been stagnated.

Canada's building trade unions and the Canadian Association of Petroleum Producers (CAPP) today announced a joint agreement to advance the long-term competitiveness of the oil sands industry, with particular focus on developing a stronger skilled trades workforce.

South Africa’s Barloworld has agreed to acquire the Bucyrus equipment distribution and support business in South Africa and Botswana from Caterpillar Global Mining.

The deal, which is valued at approximately $115 million, will also see Barloworld take over Caterpillar’s agreements with Eqstra NH Equipment and Eqstra Botswana for the purchase of Eqstra’s South Africa and Botswana Bucyrus distributorship and mining services businesses.