1. AFP: Rio wants to work with spurned Chinalco: chief
Rio Tinto chief Tom Albanese hopes to work with Chinalco in the resolution of the case against executive Stern Hu. The Rio Tinto employee was arrested in China shortly after the two companies’ $19.5 billion merger collapsed in June.
2. Reuters India: Orissa orders 69 mines to stop operations
Orissa halts 69 iron ore mines after operators fail to submit their approvals to the Indian Bureau of Mines. The state is undergoing a phased inspection of its approximately 600 mines following allegations of un-licensed mining.
3. The Chicago Tribune: Lawmakers oppose Michigan anti-mining ballot plan
State lawmakers supporting Michigan’s Upper Peninsula criticize a proposed ballot proposal banning some types of mining. The group is concerned of the bans impact on the region’s economy. The proposed ballot would ban uranium mining and restrict sulfide mining.
4. The Age: BC Iron in trading halt
BC Iron’s trading halt expected to last until Thursday; iron ore explorer to make announcement relating to financing and off-take deals. Trial mining recently commenced at the company’s Nullagine project.
5. Bloomberg.com: Mozambique Mine Investment Surged Through 2004-08, Noticias Says
A Mozambique-based newspaper reports the county’s mining sector investment has increased eightfold between 2004 and 2008. The daily Noticias said direct investment grew to $804 million in 2008, with mining licenses issues increased from 247 to 821.
6. Press Trust of India: AP govt, NMDC to explore iron ore, gold reserves
National Mineral Development Corporation and the Andhra Pradesh government prepare to sign a memorandum of understanding concerning a joint exploration for iron ore and gold. The entities would bear equal weight of the cost of the exploration.
7. Reuters: Sundance raises cash for Cameroon iron plan
Sundance Resources to advance its Mbalam iron ore project in Cameroon. The Australian miner has raised nearly $79 million in a 567 million shares issue. Sundance submitted its feasibility study to the Cameroonian government last month.
8. The Australian: Mining blasts Orica through crisis
Explosives maker Orica focuses business on mining services in efforts to ride out the financial crisis. Orica announced its seventh year of full-year profits and are preparing for future expansions.
9. Economic Times: Tata Steel partners NML; to invest 300 mm Canadian dollar
Tata Steel agrees to invest 300 million Canadian dollars in its joint venture agreement with New Millennium Corp. Tata will have an 80% equity stake in the North American iron ore development.
10. Anchorage Daily News: Alaska gold production highest since 1916’s rush
Alaska’s 2008 gold production tops 800,000 ounces, the highest amount since 1916. Record high gold prices have encouraged miner to invest capital towards extending their life spans. Gold production in Alaska’s major mines rose 11% last year.
