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News From The Mining World
Dearth of U.S. mining advocacy programs could hurt future REE supply chain
Thursday December 1st, 2011 (Mineweb)
SPARKS, NV -
The future of public policy regarding U.S. strategic and critical minerals rests with a federal government-- which has all but abandoned its advocacy of domestic hardrock mining--government affairs experts warned Wednesday at the Northwest Mining Association conference in Sparks, Nevada.
During a NWMA panel on public policy impediments to U.S. strategic minerals and critical minerals development, the audience of mining regulators, mining lobbyists, mining company managers, environmental professionals, and exploration and mining company geologists vowed to voluntarily organize under the NWMA banner and do something about the problem.
Some unfortunate realities arose out of the discussion. The demise of the U.S. Bureau of Mines in 1996 was the beginning of the end of a century-long public policy of promoting hardrock mining in the United States. In the meantime, the United States is one of the few nations without a mining ministry or mining minister.
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Grupo Mexico Must Pay $1.3 Billion to Southern Copper Over Mine Unit Sale
Mon. Oct. 17th, 2011 (Bloomberg)
Grupo Mexico SAB must return $1.3 billion in shares to Southern Copper Corp. (SCCO) for forcing the unit to overpay for a Mexican mining company, a Delaware judge ruled.
Southern Copper, previously named Southern Peru, bought a 99 percent stake in Minera Mexico, a company owned by Grupo Mexico, in April 2005 for $3.75 billion, higher than a previous valuation of $3.1 billion. The transaction was unfair and based on a flawed analysis by Goldman Sachs Group Inc., which served as financial adviser, Delaware Chancery Court Chief Judge Leo Strine ruled.
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ICN Updates Goldfield Bonanza Project
Wed May 4, 2011
ICN Updates Goldfield Bonanza Project
ICN Resources Ltd. TSX.V:ICN), is pleased to provide the following brief update on exploration activities at its newly acquired Goldfield Bonanza Project, located in Nevada's historic Goldfield mining district. As previously announced, ICN finalized a Definitive Agreement with Lode Star Gold, Inc., a private Nevada corporation, in March to explore 31 patented claims lying in the western portion of this historic mining district. The claims optioned by ICN lie adjacent and immediately west of the ground currently being drilled by International Minerals Corporation.
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Hondo Minerals Discovers Surface Vein Running Through its Tennessee and Schuylkill Properties
CHLORIDE, AZ, May 4 -- /PRNewswire/
As an update, Hondo Minerals Corporation (OTC:BB HMNC), is pleased to announce it has found a surface vein that runs along the Tennessee and Schuylkill properties. The preliminary measurement show that the vein is anywhere between 10 and 28 feet wide and runs approximately a half of a mile long. Based on the on the new discovery the company has taken samples and is awaiting the test results.
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U.S. Silver Corporation announced that year-end reserves have again increased in excess of production for the fourth consecutive year.
Proven and probable silver reserves are 21.9 million ounces, an increase of 304,000 ounces after replacing production of 2.3 million ounces as detailed in the Company’s 43-101 filed on SEDAR.
The exploration program continues to be cost effective at adding reserves at modest expenditure levels. In addition, the rate of reserve addition is expected to increase as the drilling program is expanded in 2011. Since 2006, the Company has increased proven and probable reserves by 115%.
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Drilling Identifies New Copper Gold Targets and Expands Raintree West Prospect at Whistler Project, Alaska
Vancouver, BC - May 3, 2011:
Kiska Metals Corporation reports that the recently completed shallow-hole grid drilling program at the Whistler Project, Alaska, has defined a new zone of near-surface gold-copper porphyry mineralization and veining at the Raintree North prospect, and has significantly expanded the footprint of the Raintree West prospect. In addition to the 53 holes (3,505 metres) of shallow grid drilling, six deep holes have been completed for a total of 3,071 metres at the Raintree West, East and North discoveries. Assay results are pending.
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Chevron Mining began operation of a one-megawatt, 20-acre, 173-solar tracker installation on the tailing site of CMI's molybdenum mine in Questa, New Mexico.
CPV systems were provided by Soitec
A beautifully produced video of the CPV site in northern New Mexico can be viewed Here
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