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Mining news: COBALTBHP offloads Yabulu nickel refinery - takes $675 million write-downThe future of Yabulu, in the northeast Queensland state, had been in doubt since January when BHP Billiton shut its Ravensthorpe nickel mine in Western Australia that supplied the refinery with concentrate to process into nickel and cobalt. Neither BHP Xstrata green light for Tampakan Copper-Gold project boosts Indophil ResourcesXstratas businesses maintain a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with additional exposures to platinum group metals, gold, cobalt, lead and Zambia tax earnings from copper mines drop, threatens social spendingZambia Revenue Authority said that declining global metals prices in 2008 have hit tax collections from foreign-owned copper and cobalt mines. Metorex’s Ruashi ramps upMiningmx » News » Base Metals Terence Goodlace, CEO of Metorex [miningmx.com] — DIVERSIFIED miner Metorex has achieved record production at its Ruashi copper and cobalt mine in Democratic Republic of Congo during May after a difficult start to the Imported minerals, metals fuel U.S. shift to homegrown powerA U.S. clean-energy boom could force the nation to shed its addiction to foreign oil, only to develop a dependence on imported minerals and metals. Read more. JP Morgan Upgrades Freeport-McMoRan (FCX) to OverweightJP Morgan upgrades Freeport-McMoRan (NYSE: FCX) from Neutral to Overweight. Freeport-McMoRan Copper & Gold Inc. engages in the exploration, mining, and production of mineral resources. It primarily focuses on copper, gold, silver, cobalt, and molybdenum Vantex Resources Ltd/Galloway: 0,503 g/t Au Over 284,50 MetersLA PRAIRIE, QUEBEC–(Marketwire - May 20, 2009) - The management of Vantex Resources Ltd (TSX VENTURE:VTX) is pleased to report more results from the current drilling campaign on the Galloway-Pitchvein project. Drill holes : VHD09-9, VHD09-10 and VHD09-11, with lengths between 28 and 101 meters have been plotted on a common section with historical drill holes KHD-22 and KHD87-09, whereas drill holes VHD09-06 and VHD09-07 helped map the contact between the Galloway-Pitchvein zone and the Cobalt sediment to the south. Ressources Vantex Ltée/Galloway : 284,50 mètres à .503 g/t AuLA PRAIRIE, QUEBEC–(Marketwire - 20 mai 2009) - La direction de Ressources Vantex Ltée (TSX CROISSANCE:VTX) est heureuse d’annoncer d’autres résultats d’analyses provenant de la campagne de forage actuellement en cours sur le projet Galloway-Pitchvein. Les sondages VHD09-9, VHD09-10 et VHD09-11, variant de 28 à 101 mètres le long du trou ont été placés sur une section de forage correspondant aux sondages historiques KHD-22 et KHD87-09 tandis que les sondages VHD09-06 et VHD09-07 ont été placés afin de vérifier le contact avec la zone sédimentaire (Sédiment du Cobalt), située au sud de la zone Galloway-Pitchvein. Katanga Announces First Quarter ResultsLONDON, UNITED KINGDOM–(Marketwire - May 19, 2009) - Katanga Mining Limited (TSX:KAT) (”Katanga” or the “Company”) today announces its financial results for the calendar quarter ended March 31, 2009. Highlights for the quarter ended March 31, 2009 - Total sales recognized for the quarter were US$47.0 million, comprising US$27.8 million for copper cathode (7,750 tonnes), US$10.9 million for cobalt metal (460 tonnes), and US$8.4 million for cobalt concentrate sales (16,952 tonnes from stockpiles produced before the suspension of concentrate production in November 2008). Baja Mining Selects ICA Fluor as EPCM Contractor and Restarts Boleo EngineeringBaja Mining recently announced that it has signed a letter of intent with ICA Fluor to perform the engineering, procurement and construction management (EPCM) for Baja Mining’s Boleo copper-cobalt-zinc-manganese mining project located near Santa Rosalia, Sherritt International 2009 Annual Meeting of ShareholdersTORONTO, ONTARIO–(Marketwire - May 15, 2009) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Sherritt International Corporation (TSX:S) will hold its Annual Meeting of Shareholders on Thursday, May 21, 2009 at Roy Thomson Hall, 60 Simcoe Street, Toronto, Canada. This meeting will begin at 10:00 a.m. EDT. About Sherritt Sherritt is a diversified natural resource company that produces nickel, cobalt, thermal coal, oil, gas and electricity. It also licenses its proprietary technologies to other companies. Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”. London Metal Exchange Updates On Progress Of Cobalt Futures Contract At CDI Cobalt Conference 2009The London Metal Exchange (LME), the world?s premier non-ferrous metals market, will today update industry figures at the CDI Cobalt Conference 2009 in Lisbon, Portugal on the progress of its planned cobalt contract. The new contract will provide Baja Mining Selects ICA Fluor as EPCM Contractor & Restarts Boleo EngineeringVANCOUVER, BRITISH COLUMBIA–(Marketwire - May 14, 2009) - Baja Mining Corp. (TSX:BAJ) today announced that it has signed a letter of intent with ICA Fluor to perform the engineering, procurement and construction management (EPCM) for Baja Mining’s Boleo copper-cobalt-zinc-manganese mining project located near Santa Rosalia, Baja California Sur, Mexico. The project will be performed in two phases. MMB has released ICA Fluor to work on Phase I, which consists of the development of an open book capital cost estimate and project construction schedule. The cost estimate will reflect current market conditions and be supported by the work performed to date (about 30% of engineering has been completed). The Phase I capital cost estimate will be subject to independent third party review, and is expected to be completed by the end of the third quarter of 2009. Katanga Comments on Trading of Common SharesLONDON, UNITED KINGDOM–(Marketwire - May 14, 2009) - Katanga Mining Limited (TSX:KAT) (”Katanga” or the “Company”) at the request of the Investment Industry Regulatory Organization of Canada (IIROC), on behalf of the Toronto Stock Exchange, states that Katanga is not aware of any circumstances that may be contributing to the recent increase in market price and the level of trading activity of the common shares of the Company. About Katanga Mining Limited Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The company has the potential to become Africa’s largest copper producer and the world’s largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT. Orebodies Exercises Option on Trump PropertyTORONTO, ONTARIO–(Marketwire - May 12, 2009) - Canadian Orebodies Inc. (TSX VENTURE:CO) (”Orebodies”) is pleased to announce that it has entered into an option agreement with East West Resource Corporation (”East West”) and contemporaneously therewith has exercised its option on East West’s Trump property. The Trump property consists of 96 claim units comprising 1,536 hectares in the James Bay Lowlands located 28 km south east of the Norton nickel-copper-cobalt-PGE deposit, and approximately 75 km south west of the Noront Eagle One nickel discovery. BacTech to Consider Spin-Out of Gold SubsidiaryTORONTO, CANADA–(Marketwire - May 12, 2009) - BacTech Mining Corporation (”BacTech” or the “Company”)(TSX VENTURE:BM) today announced that it will investigate the possibility of a spin-out transaction to create a stand alone gold company that would have its own management and a separate board of directors. The only relationship between the spin-out company and BacTech would be the payment of a production royalty to BacTech for the exclusive use of its gold technology. The rationale behind such a move is to separate two distinctly different businesses. With BacTech’s entry into the cleantech arena through the Cobalt, Ontario, reclamation opportunity, BacTech may have created a conflicted shareholder base. Formerly, the Company has restricted the application of its technology to the mining of refractory gold pursuant to which three plants have been built to process arsenic gold ores. With the application of bioleaching to the reclamation of old mining tails, BacTech believes that it CAMEC Says It Finds 439 Million-Ton Bauxite Resource in MaliCentral African Mining and Exploration Co., a producer of copper and cobalt, said it discovered a so- called inferred bauxite resource of about 439 million metric tons in Mali. The resource estimate, which complies with the JORC standard, referring to BacTech Holds Town Hall Meeting for Proposed Bioleach Plant in Cobalt AreaTORONTO, CANADA–(Marketwire - April 28, 2009) - BacTech Mining Corporation (”BacTech” or the “Company”)(TSX VENTURE:BM) reports that it held a public information session for its proposed tailings reclamation project at the Haileybury School of Mines (”HSM”) in Haileybury, Ontario, this past Thursday, April 23rd. In attendance from BacTech were Ross Orr, President & CEO, Dr. Chris Kennedy, Project Assessment and Technology Development, and Gary Williams, environmental consultant. The group spoke to an audience in excess of 50 people, including representatives of various departments of the Ontario government, local media, students and residents of the area. As previously reported, BacTech and HSM are collaborating on a bioleaching technician’s course to be offered this Fall at HSM. Record of Decision for Formation Capital’s Idaho Cobalt Project AffirmedVANCOUVER, BRITISH COLUMBIA–(Marketwire - April 23, 2009) - Formation Capital Corporation (”Formation”) (TSX:FCO) is pleased to announce that its wholly owned subsidiary, Formation Capital Corporation, U.S. (the “Company”) has received notice from the United States Department of Agriculture Salmon Challis National Forest (the “Forest Service”) that the Record of Decision (ROD) issued in January 2009 for the Company’s 100% owned Idaho Cobalt Project (the ICP) has now been affirmed and that the relief sought in Xstrata plc’s appeal of the project has been denied. Camec Advances the Most in a Week on Discovery of Coal DepositCentral African Mining and Exploration Co., a producer of copper and cobalt, rose the most in a week in London trading after saying it discovered a 1.03 billion-metric-ton coal deposit in Mozambique, reports Bloomberg. Read the article. |
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