In Southern Mexico, Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM) has been quietly and steadily building its San Jose Mine, moving it from an exploration project to a growing commercial silver and gold producing mine.
A record wave of consolidation in China’s mining industry is creating bigger companies that will have the muscle to compete with the likes of BHP Billiton for overseas acquisitions.
Even after Chinese mining mergers reached US$19.6 billion last year, double the tally for 2011, the government wants to see more.
Easier access to capital and less Chinese competition for assets might make companies including China Minmetals Corp and Aluminium Corp of China more robust overseas buyers, said Deloitte & Touche.
http://www.scmp.com/business/china-business/article/1180401/mergers-set-create-mining-giants
RIO DE JANEIRO, March 10 (Reuters) – Brazilian mining giant Vale SA is likely to cancel a $5.9 billion potash project after failing to gain tax breaks from Argentina, the Folha de S. Paulo newspaper reported on Sunday.
http://www.reuters.com/article/2013/03/10/vale-argentina-riocolorado-idUSL1N0C20NW20130310
Ethiopia is looking to expand and modernise its tantalite industry to meet growing global demand for the metal with two major projects, Metal Bulletin understands.
IRVING, TEXAS — Fluor Corporation (NYSE: FLR) announced today that the company was awarded a series of follow-on contracts from Toronto-based Barrick Gold Corp for new scopes of work at the Pascua-Lama mining project located on the Argentina/Chile border. Fluor booked the undisclosed value into backlog in the fourth quarter of 2012.
PERTH (miningweekly.com) – Swiss-listed diversified miner Xstrata on Tuesday reported record yearly thermal coal and refined nickel volumes for the year ended December, as well as the second consecutive quarter of record Australian zinc production.
http://www.miningweekly.com/article/record-thermal-coal-and-nickel-production-for-xstrata-2013-02-12
A huge mineral deposit recently discovered in Limpopo province is even bigger than previously thought, and represents “enormous good news” for the future of platinum mining in South Africa, the head of Canadian company Ivanplats announced at the Investing in African Mining Indaba in Cape Town on Wednesday.
http://allafrica.com/stories/201302070386.html
Rio Tinto is looking into restarting its Panguna mine in Papua New Guinea, one of the world’s largest sources of copper and gold.
http://www.reuters.com/article/2013/02/07/riotinto-australia-bougainville-idUSL4N0B72ZC20130207
Silver Wheaton Corp said on Tuesday it had signed a $1.9 billion deal with Brazil’s Vale SA to acquire a share of the gold produced at some of the company’s mines in Brazil and Canada.
http://www.reuters.com/article/2013/02/05/silverwheaton-vale-idUSL1N0B5OEB20130205
Jamaica and Japan on Monday started cooperation on rare earth extraction by breaking ground for a pilot plant amid concerns from local environmentalists.
The plant in St. Andrew, funded by Japanese company Nippon Light Metal with initial investment of 3 million US dollars, is expected to extract some 1,500 metric tonnes of rare earth oxides annually from Jamaican red mud.
http://www.globaltimes.cn/content/760274.shtml
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