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Posts Tagged ‘Ivanhoe Mines’

PFG – Mining Review

 

 

 

May 07, 2012                                            

Christian Flaherty
Mining Analyst

Xstrata Plc., has stated its copper production fell around 18% year on year over the January-April quarter, while coal production rose 9% and zinc output remained roughly constant.

Russia’s largest gold producer Polyus Gold International Ltd., has stated it would sell 7.5% of  the  company’s shares and would apply for a premium listing on the London Stock Exchange.

Iron-ore producer Metalloinvest has agreed to sell its freight rail arm LLC Metalloinvesttrans to Russian freight operator Globaltrans Investment Plc., for US$540 million.

Hong Kong-based copper producer CST Mining Group Ltd. said it would sell a 70% stake in the Mina Justa copper project to Peru-based base-metals firm Minsur SA, for a total US$505 million.

Anglo American Plc., has sold Scaw South Africa (Pty) Ltd., an integrated steelmaker, for R3.4 completing its US$1.4 billion divestment of Scaw Metals Group.

Rare Earth Elements (REE) product manufacturer Rhodia has signed a letter of intent with Madagascar focused developer Tantalus Rare Earths AG aimed at providing processing expertise and an exclusive off-take facility for up to 15,000t/y.

Mongolia’s mining ministry has suspended mining and exploration licenses for SouthGobi Resources Ltd., two weeks after the Aluminum Corporation of China Ltd., made a US$930 million bid for a majority stake in the coal producer.

Rio Tinto has stated its iron-ore production in the first quarter rose 10% from the year earlier, although shipments were 5Mt below output as ports in Western Australia were closed because of cyclones.

Gold exploration company Chaarat Gold Holdings Ltd., has stated it plans to enter into talks with the newly formed government in the Kyrgyz republic to seek to protect itself from what it considers to be likely changes to taxation, ownership structure and royalties.

Canadian gold producer Iamgold Corp., has stated it would spend around $608 million to buy fellow TSX listed Trelawney Mining and Exploration Inc., expanding its indicated resource base by 5%.

Mutiny Gold Ltd., has intersected extensions to mineralisation at its Deflector gold deposit in Western Australia with reverse-circulation drilling.

Ivanhoe Mines Ltd’s 59%-owned Australian subsidiary, Ivanhoe Australia Ltd., has intersected extensions to copper mineralisation at the Kulthor deposit in Queensland.

Lake Shore Gold Corp’s ongoing drilling programme at the Fenn-Gib gold project in Ontario has extended mineralisation.

Australian base metals producer Kagara Ltd., has stated it has temporarily suspended operations at the Baal Gammon polymetallic project in Queensland after a restructuring of the company’s banking arrangements affected its short term cash flow.

Australian coal producer Gloucester Coal Ltd., has stated its total output was up 273% year on year for the March quarter.

Aurico Gold Inc., has sold the El Cubo silver-gold mine and v silver-gold project to Endeavour Silver Corp., for US$250 million.

Shareholders at Pan American Silver Corp. and Minefinders Corp Ltd., have voted to approve the former’s US$1.5 billion takeover offer.

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