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Oban Mining to Acquire NioGold Mining for $10 Million
January 12, 2016
Oban Mining Corporation will acquire NioGold Mining Corporation for $10 million. Under the terms of the arrangement agreement, holders of NioGold shares will be entitled to receive 0.4167 common shares of Oban in exchange for each NioGold share held, representing
MGX Minerals Receives Mining Lease Approval for Driftwood Creek Magnesium Project, B.C.
January 12, 2016
MGX Minerals Inc. has received mining lease approval for its flagship Driftwood Creek magnesium project by the chief gold commissioner of the Province of British Columbia. The lease carries an initial term of 20 years and can be extended thereafter.
Intertech Solutions to Amend Gold Streaming Agreement for Westport’s WPE Mine, Arizona
January 12, 2016
Intertech Solutions Inc. (ITEC) has commenced negotiations to obtain an improved agreement with West Port Energy, LLC on the WPE Mine in Quartzite Arizona. Within the proposed enhanced agreement, ITEC is to receive from the first day of production a
Alcoa to Close Warrick Smelter in Indiana, Curtail Remaining Capacity at Pt. Comfort Refinery, Texas
January 12, 2016
Alcoa is taking further action to increase the competitiveness of its Upstream business amid prevailing market conditions. In 2015, the Midwest transaction aluminum price dropped approximately 30 percent, and the Alumina Price Index fell approximately 40 percent. Alcoa will permanently
Iberian Minerals Opens Mineworx Fabrication and Office Facility in Canada
January 12, 2016
Iberian Minerals Ltd. has opened a Mineworx fabrication and office facility at 1600 “C” Kingsway Avenue, Port Coquitlam, British Columbia. The 7,050 sq ft building offers a 20 ft ceiling height, large grade loading doors and three-phase electrical service. Mineworx
Montana Congressmen Calling for Approval of Montanore Gold Mine Expansion
January 12, 2016
Two of Montana’s congressman are calling on state leaders to give approval to the expansion of the Montanore Mine near the Cabinet Mountains, saying the project would “create much needed jobs” in Northwest Montana. Mines Management, Inc. is hoping to
Rare-earths Miner Molycorp to Start Bankruptcy Sale of Business
January 12, 2016
Rare-earths producer Molycorp reached agreements with its junior creditors on Friday that clear the way for the bankrupt company to accept bids for the company and to ask creditors to vote on a plan to exit bankruptcy. Molycorp, the only
Cameco Sets Production Outlook for Cigar Lake Uranium Operation, Canada
January 11, 2016
Cameco’s Cigar Lake operation is expected to produce 16 million packaged pounds of uranium concentrate (U3O8) in 2016 (Cameco’s share 8 million pounds). Ore from the Cigar Lake mine is milled and packaged at the McClean Lake operation which is
Banks Island Gold Files for Bankruptcy
January 11, 2016
Banks Island Gold Ltd. is in financial difficulties and is no longer able to meet its obligations generally as they became due. The company directors therefore resolved and the company has made an assignment pursuant to the Bankruptcy and Insolvency
Kaminak Gold Completes Feasibility Study for Yukon Coffee Gold Project, Canada
January 11, 2016
Kaminak Gold Corporation has received the results of a feasibility study prepared for the company’s 100 percent owned Coffee Gold Project located 130 km south of Dawson City in Yukon Territory, Canada. The feasibility study indicates that the Coffee Project
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