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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
India’s Environment Ministry Panel Defers Decision on JPVL’s Coal Mine Project
April 6, 2016
An Environment Ministry panel has deferred a decision on granting approval to expansion of a coal mining project owned by Jaiprakash Power Venture in Madhya Pradesh. Jaiprakash Power Venture (JPVL) has sought green clearance for expansion of Amelia (North) Opencast
South Africa’s Gold Fields Ghana Deal May Safeguard 2,000 Mining Jobs
April 6, 2016
South Africa’s Gold Fields Ltd has finalized a tax and royalties agreement with the government of Ghana which could safeguard its Damang mine, where around 2,000 jobs would be at risk if it is placed under care and maintenance. The
India’s Environment Ministry Panel Gives Green Clearance to CIL’s Coal Project in Jharkhand
April 6, 2016
An environment ministry panel has recommended green clearance with some riders to state-owned CIL’s coal mining project in Jharkhand. Central Coalfields Ltd (CCL), an arm of CIL, was seeking green clearance for expansion of Ashok open cast project (OCP) in
Mining Projects Group to Acquire Wodgina East Lithium-Tantalum Project, Australia
March 31, 2016
Mining Projects Group has reached an agreement to acquire the Wodgina East Lithium-Tantalum Project. The acquisition of the Wodgina East Project marked another important step in the company’s strategy of securing high-quality growth opportunities in WA’s ‘lithium hot-spot’ in the
SEMAFO Signs $120 Million Credit Facility for Construction of Natougou Gold Project, Burkina Faso
March 31, 2016
SEMAFO Inc. has executed a $120 million credit facility with Macquarie Bank Limited for construction of the Natougou project located in Burkina Faso. The facility is repayable in quarterly repayments of $15 million, from first quarter of 2019 to fourth
Silver Bear Completes $20 Million Financing for Development of Mangazeisky Silver Project, Russia
March 31, 2016
Silver Bear Resources Inc. has completed financing of US$20,000,000 for development activities at the company’s Mangazeisky silver project located in Yakutia, Russia. “Once again we would like to thank our major shareholders for their continued support. We appreciate the confidence
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