1. Bloomberg.com: Fortescue Approves A$360 Million Ore Mine Expansion (Update 1)
Fortescue Metals Group’s $326 million expansion of its Christmas Creek mine includes plans for a 31-mile railroad from the site’s mine to an ore processing plant. The Australian miner said the project will be funded internally and is expected to increase the mine’s output to 55 million metric tons a year.
2. Reuters: Chile strikes resume talks with BHP Billiton
BHP Billiton officials meet with striking workers at Chile’s Spence copper mine: management seeks an end to the 10-day strike. The workers are demanding higher wages, and are holding out for new contracts. The government is helping facilitate the discussions.
3. The Associated Press: Deal struck on Great Lakes ship pollution
The Lake Carriers’ Association requests for at least partial exemption from proposed federal regulation aimed at reducing air pollution. Negotiators reached a deal Tuesday that exempts 13 ships that haul iron ore and coal across the Great Lakes. The Association agreed to ground some of its aging ships and use more environmentally friendly fuel.
4. Australia Broadcasting Corporation: Coal managers welcome rail link commitment
Queensland Rail agrees to build a 69-kilometer rail link between Bowen Basin coalfields and the Abbot Point coal terminal. Many of the area’s coal producers in the area promoted the billion-dollar project for increasing the area’s development opportunities.
5. United Press International: New Mexico extends uranium mining
New Mexico’s state government approves Uranium Resources Inc. to renew its exploration permit for uranium. The company will be allowed to drill up to ten holes to examine the feasibility of a mining operation. The site is located in Northern New Mexico.
6. The Associated Press: US mining company says mine seized in Venezuela
Gold Reserves Inc. claims the Venezuelan government has seized control of its gold mine. Government officials took control of the mine on Monday and have yet to say if the company would be compensated for the loss. A few days before the seizure, Gold Reserve filed international arbitration proceedings against Venezuela concerning other mining projects.
7. Bloomberg.com: Uranium to Exceed $50 on Olympic Dam Slowdown, Macquarie Says
Olympic Dam force majeure expected to increase global uranium prices. Macquarie Bank is expecting uranium to rise above $50 a pound in the coming weeks. BHP Billiton expects full production to resume by the end of March, following an accident which shut down the mine’s main haulage shaft.
8. Reuters: BHP’s Argus says iron-ore JV with Rio on track
BHP Billiton’s chairman gives the proposed iron ore joint venture with Rio Tinto a 50-50 chance of being approved. Don Argus told reporters the venture is on track.
9. The Associated Press: Massey reports lower shipments of coking coal
Coking coal revenue per ton and production levels remains on the decline for U.S. based Massey Energy. Coking coal shipments made up less than a third of the companies third-quarter delivery. However, the company also reported increased cash holdings, benefits from the market’s rebounding demand.
10. The Charleston Gazette: Massey begins blasting on Coal River Mountain
West Virginia’s Governor rejects last minute request to halt mining operations; blasting begins at Massey’s Bee Tree Surface Mine. Opponents promoted the area as a potential wind facility, making the site the center of multiple anti-mining related conflicts.
