mineral exploration project – commodity prices – mining stock- trade and market

The Indian-focused miner said aluminium production rose 7% while production of its most profitable product, zinc, rose 29% which helped it take advantage of rising metal prices.

Indian-focused miner Vedanta Plc saw record aluminium production in its fourth quarter and a 29 percent jump in refined zinc from its Indian operations, helping it take advantage of rising metal prices.

Output of refined zinc, the group’s most profitable product, was 194,000 tonnes in the fourth quarter ended March 2011 from its Indian mines, with production at its Skorpion Zinc mine in Namibia totalling...

The world’s second largest gold producer said it plans to link its dividend to gold prices and added it would raise production by more than a third by 2017.

Newmont Mining Corp , the second-largest gold producer in the world, plans to link its dividend to gold prices, and said it will target to raise production of the precious metal by more than a third by 2017.

Denver-based Newmont’s shares, which have trailed the Arca Gold Bugs Index since the beginning of the year, rose 4 percent to $58.72 in early trade. The index, which tracks 16 of the world’s largest bullion...

The company IMX Resources is officially opening its Cairn Hill mine in South Australia’s outback today.

The iron ore and copper mine is south of Coober Pedy and will directly employ 150 people and have a life of up to 20 years.

Premier Mike Rann will be at the opening – an event the company’s managing director, Duncan McBain, says proves that South Australia has a strong future in the resource sector.

“We’ll mine down to about 120 metres below ground level in two small pits,” Mr McBain said.

“Potentially it could go underground...

Horizonte, the AIM quoted exploration and development company focused on Brazil, is pleased to announce that it has signed a US$4.5 million earn in agreement on its 100% owned Falcao gold project, located in the Carajas Mineral Province of northern Brazil, with major gold producer and exploration partner, AngloGold Ashanti Limited.

Highlights

- AngloGold can earn into 51% of the Falcao project by spending US$4.5 million on exploration and development over three years

- First year cash commitment of US$900,000 on exploration funding

- Fast track drill programme to...

East Asia Minerals Corporation announces that an independent third party verification has been completed for diamond drill core collected at the Company’s Miwah Gold Project in Aceh Province, Northern Sumatra, Indonesia. The results from this most recent study, completed by an independent consulting firm, have validated the veracity of gold assays reported by East Asia Minerals for drill core sampled throughout the course of exploration at its flagship Miwah Gold Project.

This independent third party validation was conducted for drill holes EMD001 to EMD030 and complies with East...

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

Cliffs Natural Resources Exploration recently purchased more than 2.4 million common shares of Riverside Resources Inc. — a Vancouver-based mineral exploration company — for $1.45 million.

In June Cliffs and Riverside signed an agreement to explore and acquire iron oxide-copper-gold projects in Mexico.

“This investment by Cliffs into Riverside solidifies the partnership between...

A six-month halt in U.S. deep-water drilling would cost 23,247 jobs, according to an estimate by Michael Bromwich, head of the agency that regulates offshore oil exploration.

Bromwich’s July 10 memo to Interior Secretary Kenneth Salazar shows regulators weighed the economic affect of suspending drilling in waters deeper than 500 feet before Salazar issued a second moratorium on July 12. The memo was submitted to U.S. District Judge Martin Feldman in New Orleans as part of a voluminous administrative record supporting the agency’s actions.

“There is no question that the imposition...

Brazilian mining giant Vale is not preparing a bid for Canada’s Potash Corp, two sources close to Vale told Reuters on Monday.

Potash, the world’s largest fertilizer supplier, is fighting off a $39 billion takeover offer from Australian mining company BHP Billiton and is seeking a white knight.

One source with direct knowledge of the situation, asked about a possible Vale bid, said, “I’m not seeing any movement in that direction. It’s a very big operation. If there were an offer, there would have to be some kind of movement.”

A second...