1. AFP: China blast mine ‘overcrowded’: safety official
Safety official reports overcrowded shafts played a factor in a coalmine gas explosion that killed 104 workers. The explosion occurred Saturday when more than 500 miners were below ground and is China’s worst mine disaster in the last two years.
2. Bloomberg.com: Anglo’s Kumba Likely to Expand Its Sishen South Mine (Update 1)
Anglo America expected to expand its Sishen South mine production. The deposit is run by Kumba which is 63% owned by Anglo. The project is valued near $924 million and is set to start production in the first half of 2012.
3. Reuters India: Orissa probes illegal mines, halts operations
Orissa Mines Minister asks 128 mine operations to suspend operations in light of the government’s investigation against illegal mining. An initial inquiry has found evidence of nearly $5 million worth of illegally mined manganese ore.
4. The Associated Press: Judge sides with environmental groups in coal case
U.S District Judge Chuck Chambers rules the U.S Army Corps of Engineers did not give the public enough a say before issuing mountaintop removal coal mines and therefore violated the Clean Water Act and National Environmental Policy Act. Environmentalists celebrated the outcome in anticipation that many of the pending permits may need to go back through the public process.
5. Reuters: UPDATE 1- Newmont, Sumitomo to sell Indonesia JV shrs
Newmont and Sumitomo Corp agree to sell a 14% stake in its Indonesia joint venture to local governments for $494 million. The companies partially own and operate the Batu Hijau copper and gold mine. The joint venture’s shareholders will need to approve part of the proposed transaction.
6. Bloomberg.com: Canada Says It Will Back Congo-Paris Club Debt Accord (Update 1)
Democratic Republic of Congo pledges to improve relations with foreign investors in order to restructure its debt with the Paris Club of creditor nations. Canada has asked the Paris Club to discuss two disputed mining contract with Congolese officials before accepting the agreement. The mining contacts under question involve Lundin Mining Corp and First Quantum Minerals Ltd.
7. The Australian: Kerry Stokes’ Iron Ore Holdings to double market value, says analyst
Rio Tinto expresses interest in buying all or part of Kerry Stokes’ Iron Ore Holdings Iron Valley deposit. Mining analyst Sam Spring believes the commercialization of the deposit will lead to a significant increase in Iron Ore Holdings share price, and a doubling of the miner’s market cap.
8. The Associated Press: Exec says new Asarco to be profitable, competitive
Asarco LLC released from a four-year bankruptcy battle; Arizona and Texas mining and refining operations free from environmental liabilities. Grupo Mexico’s bankruptcy bid for Asarco will be completed in mid-December. The company is expected to resume operations with 1,500 unionized workers and an additional 1,000 nonunion employees.
9. Reuters: Xstrata moves into iron ore with Congo-Rep project
Xstrata funds its first iron ore venture. The Anglo-Swiss miner will spend at least $50 million towards its exploration project in the Republic of Congo.
10. Toronto Star: Mining companies threatened me: Ex-Argentine minister
A former environmental minister claims foreign mining companies personally threatened her in their objection to the government’s efforts to clean up mining operations. The minister shared her testimony Argentina’s House of Commons. Romina Picolotti was the environment minister from 2006 to 2008.
