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True North Gems Enters $21 Million Offtake Agreement with Chinastone for Aappaluttoq Mine, Greenland
February 1, 2016
True North Gems Inc. has entered into an offtake agreement with Chinastone Inc. The supply agreement obligates True North to supply and Chinastone to purchase a minimum of US$7M in rough gemstones per year for the next three years resulting
Africa’s Mining Sector to Reform Worker Compensation System
January 29, 2016
The mining industry yesterday kick-started discussions that will pave the way for a reform of the compensation system and hopefully improve the lives of thousands of current and ex-mineworkers who were exposed to occupational hazards. The two-day workshop, held in
Lima-based Caterpillar Distributor Ferreycorp Dodges Industry Slump With Mining Boom in Peru
January 29, 2016
The free fall in commodities is upending demand for the construction and mining machinery made by global behemoth Caterpillar Inc. Yet for a little-known distributor of the company’s products in Peru, things couldn’t be busier. Lima-based Ferreycorp is in high
Iran, Italy, France Line Up Mining Deals
January 29, 2016
Iran’s mining sector is probably a new darling of foreign investors, with companies from China to Europe lining up to try their hand in one of the least developed industries in the resource-rich country. Iranian and Italian companies hope to
Four Fatalities in Underground Mine Fire at Impala Platinum Mine, Rustenburg
January 29, 2016
The Chamber of Mines has expressed its condolences to the families of four workers who died at the Impala Platinum Mine in Rustenburg, and has urged the industry to improve fire detection systems. The workers died of smoke inhalation after
MACH Energy to Acquire Rio Tinto’s Mount Pleasant Coal Assets for US$224 Million, Australia
January 28, 2016
Rio Tinto has reached a binding agreement for the sale of its Mount Pleasant thermal coal assets to MACH Energy Australia Pty Ltd for US$224 million plus royalties. With the recent binding agreement for the sale of Rio Tinto’s interest
Reservoir Minerals and Rio Tinto Complete Earn-In & JV Agreement for Timok Magmatic Complex, Serbia
January 28, 2016
Reservoir Minerals Inc. and Rio Tinto Mining & Exploration Limited have completed an earn-in and joint venture agreement. Under the terms of the agreement, Rio Tinto has the option to earn-in stages up to a 75 percent interest in Reservoir’s
GE Signs €40 Million Agreement with PGE to Modernize Coal Power Plant, Poland
January 28, 2016
GE’s Power Services business has secured orders valued approximately at €40 million with PGE Gornictwo i Energetyka Konwencjonalna S.A. (PGE GiEK S.A.), the largest utility in Poland, to upgrade generator and steam turbine assets at the Turow Power Plant. The
E tū to Close Its ROA Coal Mine, New Zealand
January 28, 2016
E tū will close its ROA coal mine in New Zealand. Workers at ROA Mine, near Blackball, were told that the company will suspend their underground operations as falling coal prices mean the mine is no longer economically viable. “The
ANTAM Ceases Mining Activities at Cikotok Gold Mine, Lebak Regency, Banten
January 28, 2016
PT ANTAM (Persero) Tbk has ceased gold mining activities at Cikotok gold mine, Lebak Regency, Banten. “The Cikotok gold mine has become a part of Indonesian history as it started operations during the colonial period in 1936 and then transformed
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