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

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...

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...

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...

Lihir Gold shareholders have voted almost unanimously to accept Newcrest Mining’s $10.6 billion scrip-and-cash takeover offer.

The deal will create the world’s fourth-biggest mining company.

With no sign of a white knight emerging, the vote, in Port Moresby yesterday, makes the acquisition almost a formality, with Papua New Guinea National Court approval of the deal scheme of arrangement the only hurdle.

At the meeting, 99.86 per cent of all votes cast were in favour of the deal, which will see Lihir shareholders receive 0.12 Newcrest shares and 22.5c for every...

Australian Prime Minister Julia Gillard is likely to call an election on Saturday, broadcaster ABC reported on Friday, in a move that could seal the fate of the Labor government’s proposed mining tax.

The government aims to raise A$10.5 billion from 2012 under the watered-down 30 percent tax agreed by global miners BHP Billiton, Rio Tinto and Xstrata, but the conservative opposition has vowed to dump it.

Opinion polls published in Fairfax and News Ltd newspapers put Labor ahead of the conservative opposition at 52 percent versus 48 percent. For a Reuters poll trend, see:...

Gold declined in New York as signs that the global economic recovery is taking root curbed investor demand for the metal as a means of protecting wealth and as yesterday’s gain dampened physical purchases.

Gold yesterday rose 1.2 percent, the most in more than three weeks. Singapore’s government today raised the forecast for full-year economic growth to as much as 15 percent, while Intel Corp. reported record second-quarter sales and topped analysts’ estimates with its forecast for the coming period. Asian shares gained and U.S. index futures rose. European stocks were down 0.5...

Copper production in Zambia, Africa’s largest copper producer, fell 13 percent in January 2010 compared with January 2009 due to earlier mine closures but analysts said there were good prospects for higher output.

Zambia has previously said copper production could hit 1.0 million tonnes by 2011 as new mines come on stream and expansions and upgrades take place at existing mines.

Its copper production declined to 54,518 tonnes in January this year from 62,621 tonnes in the same month last year, the central bank said on Tuesday.

Copper exports in January 2010 increased...

A major investment by a Chinese company puts a big mining project near Eureka back on track.

General Moly Mines...