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Dynasty Suspends Activity at Zaruma Gold Mine After Employees Walk Out, Ecuador
April 6, 2016
An unexpected walkout by workers at Dynasty Metals & Mining Inc.‘s Zaruma gold mine in Ecuador has resulted in the temporary suspension of all activities at the mine. Administration and all other projects of the company are unaffected. Dynasty is
Centerra Gold Secures $150 Million for Construction and Development of Oksut Gold Mine, Turkey
April 6, 2016
Centerra Gold Inc.‘s wholly-owned Turkish subsidiary Öksüt Madencilik Sanayi ve Ticaret A.S. (OMAS) has entered into a project financing term loan facility for its Öksüt Project in Turkey. The facility is secured by the Öksüt assets and is non-recourse to
Mechel to Supply China’s Baosteel Resources with Nearly One Million Tonnes of Coking Coal
April 6, 2016
Mechel PAO has prolonged its cooperation agreement with China’s major corporation Baosteel Resources. Since April 2016 and until March 2017, Mechel will supply the Chinese company with up to 960,000 tonnes of premium-grade coking coal produced at Neryungrinsky Open Pit.
Avnel Gold Completes Definitive Feasibility Study Results for Kalana Main Project, Mali
April 6, 2016
Avnel Gold Mining Limited has received results from a definitive feasibility study (DFS) for its Kalana Main Project in southwestern Mali with an effective date of March 1, 2016. The Kalana Project is owned by Société d’Exploitation des Mines d’Or
Kinross to Proceed with Phase One of Tasiast Mine Expansion in Mauritania, North Africa
April 6, 2016
Kinross Gold Corporation is proceeding with the Phase One expansion of its Tasiast mine in Mauritania. Phase One is expected to increase mill throughput capacity from the current 8,000 tonnes per day (t/d) to 12,000 t/d, while significantly reducing Tasiast’s
Gazprombank Enters Option Agreement with Mechel to Acquire 49% of Elga Coal Project, Russia
April 6, 2016
Mechel PAO has signed an agreement on offering Gazprombank AO the option to purchase 49 percent share in the Elga coking coal deposit development project for 34.3 billion rubles. According to the agreement, Mechel is due to sell to Gazprombank
Rupert Resources Acquires Pahtavaara Gold Mine, Finland
April 6, 2016
Canadian mining company Rupert Resources Ltd has signed an agreement to acquire the bankrupt Pahtavaara gold mine in Sodankylä, Lapland for a sum of 2.5 million dollars. The mine’s previous Swedish owners, Lappland Goldminers, declared bankruptcy in 2014 and the
Tango Mining to Acquire Firestone’s Kimberlite Diamond Mine for $30 Million, Botswana
April 6, 2016
British Columbia-based Tango Mining Limited announced that it has entered into a proposed $30 million loan commitment with Vandebilt Commercial Lending Inc. for the acquisition of the BK11 Kimberlite Diamond Mine. The BK11 mine is a kimberlite pipe with a
Alsons Power Advances to Construction Phase for Its Sarangani Coal Plant Expansion, Philippines
April 6, 2016
Two foreign groups — Korean firm Hyundai Engineering and Japan Gas Corporation with Toshiba Corporation – are eyeing to corner the engineering, procurement and construction (EPC) contract of the 105-megawatt (MW) expansion of the Sarangani coal-fired power plant of the
Rio Tinto’s CEO Looks to Invest More in Copper Sector
April 6, 2016
Rio Tinto plc has recently expressed its interest to invest in copper rather than iron ore, in an attempt to steer the company out of the commodity crisis. Rio Tinto’s current CEO Sam Walsh said that the company would expand
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