Gold developer Bullabulling Gold on Tuesday told shareholders to hold off on selling their shares to fellow-listed gold miner Norton Gold Fields.

On Thursday, Norton launched an all-cash takeover offer for Bullabulling, offering shareholders 7c a share for each share held. The offer represented a 30% premium to the company’ share price on April 17, and a 32% premium to the three-month volume-weighted average price.

Norton CEO Dianmin Chen said that Bullabulling’s namesake project, in Western Australia, had significant funding challenges, which a small company such as Bullabulling would have ongoing difficulties managing. The project is expected to cost about A$300-million to bring to production.

“By accepting the offer, Bullabulling shareholders will remove their exposure to these major financing risks and the likely continued dilution in the value of their shareholdings,” he added.

However, Bullabulling said on Tuesday that the offer price from Norton did not adequately reflect the value of the Bullabulling asset, or of the company itself, and as such did not justify a change in control....
http://www.miningweekly.com/article/norton-offer-does-not-reflect-value-of-main-asset-bullabulling-2014-04-22

Norton offer does not reflect value of main asset – Bullabulling

PERTH (miningweekly.com) – Gold developer Bullabulling Gold on Tuesday told shareholders to hold off on selling their shares to fellow-listed gold miner Norton Gold Fields.

On Thursday, Norton launched an all-cash takeover offer for Bullabulling, offering shareholders 7c a share for each share held. The offer represented a 30% premium to the company’ share price on April 17, and a 32% premium to the three-month volume-weighted average price.

Norton CEO Dianmin Chen said that Bullabulling’s namesake project, in Western Australia, had significant funding challenges, which a small company such as Bullabulling would have ongoing difficulties managing. The project is expected to cost about A$300-million to bring to production. “By accepting the offer, Bullabulling shareholders will remove their exposure to these major financing risks and the likely continued dilution in the value of their shareholdings,” he added....

The Mining Hub
Bullabulling
April 23, 2014 6:52:17 AM
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Heavy rain has led to a pitwall failure at OceanaGold’s Macraes open pit gold mine in New Zealand.

The Melbourne-based company said mining in both the open pint and underground operations has been suspended.

It said access to the underground mine was cut off, however, the underground mine itself was unaffected and all underground workers were brought safely to the surface.

No personnel were working in the open pit when the west wall gave way on Saturday.

The wall failure will now be investigated by OceanaGold and the relevant authorities.

Production from the open pit has been temporarily suspended to further review the incident and develop a new plan for the operation which is expected in “the next few weeks”....
http://www.miningaustralia.com.au/news/heavy-rain-leads-to-gold-mine-wall-collapse

Heavy rain leads to gold mine wall collapse

Heavy rain has led to a pitwall failure at OceanaGold’s Macraes open pit gold mine in New Zealand.

The Melbourne-based company said mining in both the open pint and underground operations has been suspended.

It said access to the underground mine was cut off, however, the underground mine itself was unaffected and all underground workers were brought safely to the surface.

No personnel were working in the open pit when the west wall gave way on Saturday.

The wall failure will now be investigated by OceanaGold and the relevant authorities....

The Mining Hub
Macraes
April 23, 2014 6:48:51 AM
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At least 21 people have died after a coal mine flooded in China’s southwest province of Yunnan.

The incident happened on April 7, at Xiahaizi coal mine, located near Qujing City.

Mining.com reports an explosion occurred, causing the mine to flood and trapping 22 workers underground.

Eleven officials in charge of safety at the mine site have been sacked since the accident, a spokesman with the Qujing municipal government said.

Chinese state media reports seven people including the board chairman, the legal representative and the manager of the coal mine, had previously been detained by police.

The mine’s “complicated layout” and “narrow underground space” are said to be hampering search and recovery efforts...
http://www.miningaustralia.com.au/news/21-dead-after-coal-mine-flooding

21 dead after coal mine flooding

At least 21 people have died after a coal mine flooded in China’s southwest province of Yunnan.

The incident happened on April 7, at Xiahaizi coal mine, located near Qujing City.

Mining.com reports an explosion occurred, causing the mine to flood and trapping 22 workers underground.

Eleven officials in charge of safety at the mine site have been sacked since the accident, a spokesman with the Qujing municipal government said.

Chinese state media reports seven people including the board chairman, the legal representative and the manager of the coal mine, had previously been detained by police....

The Mining Hub
April 23, 2014 6:45:51 AM
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Despite poor first quarter results, Vancouver-based Teck Resources Ltd. (TSX:TCK.A, TCK.B), (NYSE:TCK), one of Canada's largest miners, is increasing its investment in Halifax-based Erdene Resource Development (TSX:ERD), which will use the funds to explore for copper in Mongolia under a strategic alliance announced last year.

Teck, which currently controls about 14% of Erdene's common shares, aims to boost exploration on the Halifax miner's wholly owned Altan Nar gold-polymetallic project, located in southwest Mongolia, 200 kilometres from the border with China.

Erdene announced Monday it will restart drilling in the next few days and that field crews are already on site.

Detailed surface work is underway, including higher density geochemical sampling, mapping, and an expanded induced polarization survey.

According to the company, this work will provide a greater understanding of the extent of the multiple mineralized structures identified to date and provide a stronger base for designing a more extensive follow-up resource delineation drill program.
http://www.mining.com/teck-invests-further-in-halifaxs-erdene-to-expand-copper-exploration-in-mongolia-86163/

Teck invests further in Halifax’s Erdene to expand copper exploration in Mongolia

Courtesy of Erdene Resource Development.

Despite poor first quarter results, Vancouver-based Teck Resources Ltd.  (TSX:TCK.A, TCK.B), (NYSE:TCK), one of Canada's largest miners, is increasing its investment in Halifax-based Erdene Resource Development (TSX:ERD), which will use the funds to explore for copper in Mongolia under a strategic alliance announced last year.

Teck, which currently controls about 14% of Erdene's common shares, aims to boost exploration on the Halifax miner's wholly owned Altan Nar gold-polymetallic project, located in southwest Mongolia, 200 kilometres from the border with China....

The Mining Hub
Altan Nar
April 23, 2014 6:24:51 AM
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Canada’s largest diversified miner Teck Resources (TSX:TCK.A, TCK.B), (NYSE: TCK) said Tuesday it will lay off about 600 employees, delay the restart of its B.C. Quintette coal mine and cut spending 5% as it continues to reduce costs and adapt to a lower metal price environment.

Delivering its first quarter results, the Vancouver-based company posted a $105-million adjusted profit, less than half what it made during the same period last year due to low metal prices.

Adjusted profit for the three months ended March 31 was also disappointing: a mere 18 cents per share, down from $328 million or $0.56 per share in 2013.

Revenue also dropped more than analysts had projected, falling to $2.084 billion from $2.33 billion. Forecasters had estimated Teck would have $2.098 billion of revenue for the quarter.

Weak commodity prices hurt Teck's three core business units —coal, copper and zinc— but coal was particularly hard hit due to increased supply from Australia, the company said. Reduced demand from China has also been a factor, it said.
http://www.mining.com/teck-to-axe-600-jobs-postpones-resuming-quintette-coal-mine-62184/

Teck to axe 600 jobs, postpones Quintette coal mine restart

Canada’s largest diversified miner Teck Resources (TSX:TCK.A, TCK.B), (NYSE: TCK) said Tuesday it will lay off about 600 employees, delay the restart of its B.C. Quintette coal mine and cut spending 5% as it continues to reduce costs and adapt to a lower metal price environment.

Delivering its first quarter results, the Vancouver-based company posted a $105-million adjusted profit, less than half what it made during the same period last year due to low metal prices.

Adjusted profit for the three months ended March 31 was also disappointing: a mere 18 cents per share, down from $328 million or $0.56 per share in 2013....

The Mining Hub
Quintette
April 23, 2014 6:12:54 AM
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After weeks of speculations over who could be behind Padbury Mining’s (ASX:PDY) announced $6.5 billion secured funding to build to build the long-delayed Oakajee deep-water port and railway in Western Australia, Sydney businessman Roland Bleyer has come out claiming to be the main backer.

The revelation, however, is unlikely to improve Padbury’s tainted reputation, as Bleyer is widely known for having a “colourful” business past.

Bleyer claims to have been in negotiations with the government of Prime Minister George Papandreou to lend Greece billions of euros during its debt crisis.
As the Sydney Morning Herald reports, Bleyer claims to have been in negotiations with the government of Prime Minister George Papandreou to lend Greece billions of euros during its debt crisis.

He also says he played a key role at an Azerbaijani bank and had business meetings with Lebanese prime minister Rafic Hariri, prior to his assassination in 2005, and with ministers of the Syrian government....
http://www.mining.com/australias-6-5bn-oakajee-project-backer-holds-long-record-of-shady-business-91493/

Australia’s $6.5bn Oakajee project backer holds long record of shady business

Proposed port and rail project in Western Australia's Mid-West.

After weeks of speculations over who could be behind Padbury Mining’s (ASX:PDY) announced $6.5 billion secured funding to build to build the long-delayed Oakajee deep-water port and railway in Western Australia, Sydney businessman Roland Bleyer has come out claiming to be the main backer.

The revelation, however, is unlikely to improve Padbury’s tainted reputation, as Bleyer is widely known for having a “colourful” business past.

As the Sydney Morning Herald reports, Bleyer claims to have been in negotiations with the government of Prime Minister George Papandreou to lend Greece billions of euros during its debt crisis....

The Mining Hub
Peak Hill Iron Project
April 23, 2014 5:58:13 AM
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The talks between Barrick Gold and Newmont Mining over a combination that would create a gold mining behemoth have hit a snag, but two sources close to the situation say the companies remain keen on a deal and discussions are likely to resume.

The talks had been on for a few weeks and the two sides had broadly agreed to a transaction that would see Barrick acquire Denver-based Newmont in an all-stock deal, said one source close to the matter, adding that the deal would offer Newmont shareholders a slight premium to its current share price.

The sources, who asked not to be named due to the sensitive nature of the situation, said the talks have hit a snag around the spin-out of certain assets from the combined entity, among other issues.

Following the close of the tentative deal, shareholders in the combined entity would also get shares in a new company that is likely to include assets in Australia and in New Zealand. But the final mix of assets in the spun out entity has not yet been agreed upon said one source, adding that new entity could include some assets from outside that region....
http://www.miningweekly.com/article/barrick-proposal-to-acquire-newmont-hits-roadblock---sources-2014-04-21

Barrick proposal to acquire Newmont hits roadblock - sources

TORONTO – The talks between Barrick Gold and Newmont Mining over a combination that would create a gold mining behemoth have hit a snag, but two sources close to the situation say the companies remain keen on a deal and discussions are likely to resume.

The talks had been on for a few weeks and the two sides had broadly agreed to a transaction that would see Barrick acquire Denver-based Newmont in an all-stock deal, said one source close to the matter, adding that the deal would offer Newmont shareholders a slight premium to its current share price....

The Mining Hub
April 22, 2014 6:54:46 AM
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NEWCASTLE, England/LONDON – The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high-grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle over terms is solved.

Beyond PNG, in international waters, regulation and royalty terms for mining the planet's subsea wealth have also yet to be finalised. The world waits for the judgement of a United Nations agency based in Jamaica.

"If we can take care of the environment we have a brand new day ahead of us. The marine area beyond national jurisdiction is 50% of the Ocean," said Nii Odunton, secretary general of the UN's International Seabed Authority (ISA).

"I believe the grades look good, the abundance looks good, I believe that money will be made," Odunton said from the ISA offices in Kingston.

High-tech advances, depleted easy-to-reach minerals onshore and historically high prices have boosted the idea of mining offshore, where metals can be fifteen times the quality of land deposits....
http://www.miningweekly.com/article/the-robot-is-ready---so-when-will-deep-sea-mining-start-2014-04-21

The robot is ready - so when will deep sea mining start?

NEWCASTLE, England/LONDON – The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high-grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle over terms is solved.

Beyond PNG, in international waters, regulation and royalty terms for mining the planet's subsea wealth have also yet to be finalised. The world waits for the judgement of a United Nations agency based in Jamaica.

"If we can take care of the environment we have a brand new day ahead of us. The marine area beyond national jurisdiction is 50% of the Ocean," said Nii Odunton, secretary general of the UN's International Seabed Authority (ISA)....

The Mining Hub
April 22, 2014 6:43:54 AM
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Fortescue Metals Group has announced new plans to boost production by 35 per cent over the next quarter.

FMG has recently reached a long-term ore production goal of 155 tonnes per year, thanks to completion of the Kings Valley project, however analysts are concerned about whether the new June targets can be met.

When questioned on Wednesday about the viability of the new target, CEO Nev Power declared “absolutely it’s realistic”.

Power said that typical mild weather at this time of year will help to increase production.

“The June quarter is always a very strong quarter for us and typically we don't have any of the major shutdowns through our port assets so we are able to run at sprint rates substantially above (the annual rate of) 155 million tonnes,” he said...
http://www.miningaustralia.com.au/news/new-production-targets-at-fortescue-metals

New production targets at Fortescue Metals

Fortescue Metals Group has announced new plans to boost production by 35 per cent over the next quarter.

FMG has recently reached a long-term ore production goal of 155 tonnes per year, thanks to completion of the Kings Valley project, however analysts are concerned about whether the new June targets can be met.

When questioned on Wednesday about the viability of the new target, CEO Nev Power declared “absolutely it’s realistic”.

Power said that typical mild weather at this time of year will help to increase production....

The Mining Hub
Kings Valley
April 22, 2014 6:40:28 AM
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Southern Copper’s (NYSE:SCCO) nearly finished US$900 million expansion of Toquepala mine and the imminent approval of its halted US$1bn Tia Maria project, are the two main cards Peru has up its sleeve to reclaim its place as the world’s second largest copper producer this year.

According to the country’s Minister of Energy and Mines (MEM), the start up of both mines is the last push Peru needs to take over China as the world’s No. 2 producer of the red metal, a title the South American nation lost in 2012.

Currently China’s output stands at about 1.6 million tonnes per year, well below the nearly 5.8 million annual tonnes produced by Chile, the world’s leader, based on data provided by CRU Consulting and quoted by Andina news agency (in Spanish).

Tia Maria has been suspended since 2011, as it faces opposition from nearby communities concerned about the use of water. But the company held a public hearing for the project late last year, after which it said it was submitting a revised environmental impact study, which it expected to be approved by June 2014. According to Southern, that would allow the US-based company to start production at Tia Maria in about two years....
http://www.mining.com/peru-set-to-regain-worlds-second-largest-copper-producer-place-this-year-26694/

Peru set to regain world’s second largest copper producer place this year

Southern Copper’s (NYSE:SCCO) nearly finished US$900 million expansion of Toquepala mine and the imminent approval of its halted US$1bn Tia Maria project, are the two main cards Peru has up its sleeve to reclaim its place as the world’s second largest copper producer this year.

According to the country’s Minister of Energy and Mines (MEM), the start up of both mines is the last push Peru needs to take over China as the world’s No. 2 producer of the red metal, a title the South American nation lost in 2012....

The Mining Hub
Toquepala
April 22, 2014 6:30:57 AM
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US producer of metallurgical coal Walter Energy (NYSE:WLT) (TSX:WLT) said last week it is shutting down its two mines in Canada’s British Columbia, after the price of the steelmaking material sank to a six-year low.

The company said it would immediately close the Wolverine mine, near Tumbler Ridge, with about 415 employees. Its Brazion mine, closer to Chetwynd with about 280 employees, will be idled by July. Combined, the operations produced 3.6 million tonnes of metallurgical coal last year.

According to Resource Clips’ Greg Klein, the Walter Energy’s decision will affect workers and families in the same region where Vancouver-based HD Mining International wants to bring up to 480 Chinese workers for its proposed $300 million Murray River coal mine.

Despite being battled in provincial and federal courts by unions, the firm was allowed last year to go ahead with its plans of hiring foreigners....
http://www.mining.com/canada-to-lose-695-coal-mining-jobs-in-same-province-bringing-chinese-workers-62517/

Canada to lose 695 coal mining jobs in same province bringing Chinese workers

Overview of Walter Energy's Wolverine coal mine, the first one to close.

US producer of metallurgical coal Walter Energy (NYSE:WLT) (TSX:WLT) said last week it is shutting down its two mines in Canada’s British Columbia, after the price of the steelmaking material sank to a six-year low.

The company said it would immediately close the Wolverine mine, near Tumbler Ridge, with about 415 employees. Its Brazion mine, closer to Chetwynd with about 280 employees, will be idled by July. Combined, the operations produced 3.6 million tonnes of metallurgical coal last year....

The Mining Hub
Wolverine(Walter)
April 22, 2014 6:14:10 AM
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To show off Caterpillar machines, the company pitted excavators, telehandlers and other machines in a giant Jenga-like game of blocks.

The object of the game is for heavy equipment operators to remove and then reposition a stack of 27 blocks one at a time without toppling the structure. Machine operators can only use machines and attachments. The video has over 785,000 views.

Companies are using elaborate stunts to show off their wares. Last summer a hamster drove a Volvo dump truck out of a quarry to show off the vehicle's enhanced steering system.
http://www.mining.com/a-really-big-game-of-jenga-played-with-cat-machines-28385/

VIDEO: A really big game of Jenga played with Cat machines

To show off Caterpillar machines, the company pitted excavators, telehandlers and other machines in a giant Jenga-like game of blocks.

The object of the game is for heavy equipment operators to remove and then reposition a stack of 27 blocks one at a time without toppling the structure. Machine operators can only use machines and attachments. The video has over 785,000 views.

Companies are using elaborate stunts to show off their wares. Last summer a hamster drove a Volvo dump truck out of a quarry to show off the vehicle's enhanced steering system....

The Mining Hub
April 21, 2014 6:51:11 AM
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According to a report by the Wall Street Journal, the world's top two gold miners in terms of production had been in talks to merge this week, but no deal could be made.

According to "people familiar with the matter" the talks broke down in the past few days and it wasn't the first time that the Canadian and US miners have discussed a deal.

Toronto-based Barrick (TSE:ABX NYSE:ABX) which produces some 7 million ounces of gold per year is worth $21 billion on the TSX, down 20% compared to a year ago and nowhere near its $54 billion market value in 2011.

Newmont Mining Corp (NYSE:NEM) with a market value of just under $12 billion has fared even worse shedding 30% in value compare to this time last year. The Denver-based company is a 5 million ounce a year producer.

Gold is up some 8% in 2014, but more than $600 an ounce below all-time highs reached September 2011.
http://www.mining.com/wsj-newmont-barrick-merger-talks-break-down-38302/

WSJ: Newmont, Barrick merger talks break down

According to a report by the Wall Street Journal, the world's top two gold miners in terms of production had been in talks to merge this week, but no deal could be made.

According to "people familiar with the matter" the talks broke down in the past few days and it wasn't the first time that the Canadian and US miners have discussed a deal.

Toronto-based Barrick (TSE:ABX NYSE:ABX) which produces some 7 million ounces of gold per year is worth $21 billion on the TSX, down 20% compared to a year ago and nowhere near its $54 billion market value in 2011....

The Mining Hub
April 21, 2014 6:48:42 AM
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At least 21 miners have died in southwest China's Yunnan Province as a consequence of a coal mine flooding and there is another miner still missing, Xinhua reported Sunday.

The accident occurred on April 7 at the Xiahaizi coal mine, located near Qujing City, when an explosion caused the mine to flood, trapping 22 miners underground.

China leads the world in coal mining fatalities, as mine operators often skirt safety regulations. Last year alone 1,049 people were killed or went missing in mining-related accidents in the nation, the world’s largest consumer of coal, official figures show. In comparison, 52 people were killed over the last decade in US coal mining disasters, according to the US National Institute of Occupational Safety and Health.

It is estimated that more than 3,000 workers die in Chinese mines every year, mostly at coal operations.

One of the worst mining accidents registered in the country happened a year ago, when a landslide that displaced as much as 2 million cubic meters of earth and rubble killed 83 people in a mining area of the Tibet region.
http://www.mining.com/china-coal-mine-death-toll-rises-to-21-41072/

China coal mine death toll rises to 21

At least 21 miners have died in southwest China's Yunnan Province as a consequence of a coal mine flooding and there is another miner still missing, Xinhua reported Sunday.

The accident occurred on April 7 at the Xiahaizi coal mine, located near Qujing City, when an explosion caused the mine to flood, trapping 22 miners underground.

China leads the world in coal mining fatalities, as mine operators often skirt safety regulations. Last year alone 1,049 people were killed or went missing in mining-related accidents in the nation, the world’s largest consumer of coal, official figures show. In comparison, 52 people were killed over the last decade in US coal mining disasters, according to the US National Institute of Occupational Safety and Health....

The Mining Hub
April 21, 2014 6:46:48 AM
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Demand for mineral resource engineers and skilled miners is increasing in Canada’s East Coast, as gold mining stages a huge comeback in the province of Nova Scotia, which holds several projects currently in the works and one major mine already in operations.

In a matter of weeks the Dufferin Mine, located on the eastern shore of the province near Sheet Harbour, will produce its first batch of gold. Until then the mine, shut down more than a decade ago and owned since 2009 by Ressources Appalaches (TSX-V:APP) will stockpile the raw material needed to run the mill. Dufferin ran for eight months in 2001 under a different operator, but shut down when the price of gold dropped to around $300 an ounce.

Now, the new owner is ready to become a gold mining icon, and it says is on track to ramp up production to 300 tonnes of gold per day...
http://www.mining.com/gold-mining-comes-back-to-nova-scotia-31974/

Gold mining comes back to Nova Scotia

Between 1862 and 1976, 1.1 million ounces of gold were mined from 65 gold districts throughout Nova Scotia.Courtesy of Museum of Industry.

Demand for mineral resource engineers and skilled miners is increasing in Canada’s East Coast, as gold mining stages a huge comeback in the province of Nova Scotia, which holds several projects currently in the works and one major mine already in operations.

Dufferin is the first producing gold mine in N.S. in over a decade.

In a matter of weeks the Dufferin Mine, located on the eastern shore of the province near Sheet Harbour, will produce its first batch of gold. Until then the mine, shut down more than a decade ago and owned since 2009 by Ressources Appalaches (TSX-V:APP) will stockpile the raw material needed to run the mill. Dufferin ran for eight months in 2001 under a different operator, but shut down when the price of gold dropped to around $300 an ounce....

The Mining Hub
Dufferin
April 21, 2014 6:27:36 AM
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The bodies of two miners killed in a tragic rockfall at the Austar Coal Mine yesterday have not yet been recovered, an operation which is expected to take several days.

Jamie Mitchell, 49, and Phillip Grant, 35, along with five other miners were working with a continuous miner on Tuesday night when a catastrophic rock burst, or “pressure bump” caused a 15 metre long wall of coal to collapse, covering the men and the continuous mining machine in many tonnes of coal.

It is believed the two men were killed instantly, as they were working on the side of the machine nearest to the rib of coal that collapsed.

Two other members of the work crew were positioned on the other side of the machine, and remained unscathed....
http://www.miningaustralia.com.au/news/miners-killed-by-pressure-bump-during-continuous-m

Miners killed by pressure bump during continuous mining

The bodies of two miners killed in a tragic rockfall at the Austar Coal Mine yesterday have not yet been recovered, an operation which is expected to take several days.

Jamie Mitchell, 49, and Phillip Grant, 35, along with five other miners were working with a continuous miner on Tuesday night when a catastrophic rock burst, or “pressure bump” caused a 15 metre long wall of coal to collapse, covering the men and the continuous mining machine in many tonnes of coal.

It is believed the two men were killed instantly, as they were working on the side of the machine nearest to the rib of coal that collapsed....

The Mining Hub
Austar
April 21, 2014 6:24:42 AM
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Norton Gold Fields has kicked off another round of WA gold industry consolidation after lodging an unsolicited cash bid for Bullabulling Gold late on Thursday.

Norton’s bid came after Evolution Mining boss Jake Klein said earlier in the day the company had received a number of unsolicited offers for its Edna May open pit operation, east of Merredin.

China-backed Norton missed out on assets put up for sale during Barrick Gold’s exit from Australia, but put in a 7¢-a-share bid for Bullabulling that valued the target at $24 million. If the bid is successful, it will deliver Norton Bullabulling’s Coolgardie low-grade project, which contains 3.5 million ounces of gold....
https://au.news.yahoo.com/thewest/business/a/22751014/norton-moves-on-bullabulling/

Norton moves on Bullabulling

Norton Gold Fields has kicked off another round of WA gold industry consolidation after lodging an unsolicited cash bid for Bullabulling Gold late on Thursday.

Norton’s bid came after Evolution Mining boss Jake Klein said earlier in the day the company had received a number of unsolicited offers for its Edna May open pit operation, east of Merredin.

China-backed Norton missed out on assets put up for sale during Barrick Gold’s exit from Australia, but put in a 7¢-a-share bid for Bullabulling that valued the target at $24 million. If the bid is successful, it will deliver Norton Bullabulling’s Coolgardie low-grade project, which contains 3.5 million ounces of gold....

The Mining Hub
Bullabulling
April 21, 2014 6:07:13 AM
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Padbury Mining is investigating the capacity of the financiers that offered it $US6.5 billion to build the Oakajee port and rail project, as concerns emerge about trading in the company’s shares and options ahead of its announcement last week.

A message flagging Padbury’s Oakajee deal was posted on stock market chat forum HotCopper on April 8, a day before Padbury entered a trading halt ahead of its triumphant April 11 announcement that equity funding had been “secured” for Oakajee.

A month before, big volumes of out-of-the-money Padbury options changed hands despite there being little news. Padbury admitted this week it was asked to provide documents to the Australian Securities Exchange and the corporate watchdog over its April 11 announcement....
https://au.news.yahoo.com/thewest/business/a/22750900/curious-case-of-padbury-trades/

Curious case of Padbury trades

Padbury Mining is investigating the capacity of the financiers that offered it $US6.5 billion to build the Oakajee port and rail project, as concerns emerge about trading in the company’s shares and options ahead of its announcement last week.

A message flagging Padbury’s Oakajee deal was posted on stock market chat forum HotCopper on April 8, a day before Padbury entered a trading halt ahead of its triumphant April 11 announcement that equity funding had been “secured” for Oakajee.

A month before, big volumes of out-of-the-money Padbury options changed hands despite there being little news. Padbury admitted this week it was asked to provide documents to the Australian Securities Exchange and the corporate watchdog over its April 11 announcement....

The Mining Hub
Peak Hill Iron Project
April 21, 2014 5:45:06 AM
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Gold miner Evolution Mining has reported a solid quarter of production, and remains on track to reach its full-year production target of between 400 000 oz and 450 000 oz of gold.

During the March quarter, Evolution delivered 101 408 oz of gold equivalent, which was slightly below the 107 201 oz produced in the previous quarter.

For the year-to-date, Evolution has produced 315 804 oz.

“In a challenging environment, I am delighted that Evolution continues to live up to our mantra of 'we say, we do, we deliver'. Once again, we are pleased to be able to highlight the clear benefits of having a portfolio of five similar-sized Australian mines, which continue to deliver operational predictability and stability,” Evolution chairperson Jake Klein said in a conference call on Thursday.

“I have long maintained that having a portfolio of mines allows you to deliver to investor expectations on a far more consistent basis than single mine companies. The only caveat to this is our belief that the portfolio should be smaller, in our view no more than seven mines, to be able to capture an entrepreneurial culture of innovation excellence, that Evolution is embracing.”......
http://www.miningweekly.com/article/evolution-on-track-to-meet-fy-guidance-may-consider-edna-may-divestment-2014-04-17

Evolution on track to meet FY guidance, may consider Edna May divestment

PERTH (miningweekly.com) – Gold miner Evolution Mining has reported a solid quarter of production, and remains on track to reach its full-year production target of between 400 000 oz and 450 000 oz of gold.

During the March quarter, Evolution delivered 101 408 oz of gold equivalent, which was slightly below the 107 201 oz produced in the previous quarter.

For the year-to-date, Evolution has produced 315 804 oz.

“In a challenging environment, I am delighted that Evolution continues to live up to our mantra of 'we say, we do, we deliver'. Once again, we are pleased to be able to highlight the clear benefits of having a portfolio of five similar-sized Australian mines, which continue to deliver operational predictability and stability,” Evolution chairperson Jake Klein said in a conference call on Thursday....

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Edna May
April 18, 2014 10:08:30 AM
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Embattled nickel miner Mirabela Nickel has warned that it would impose forced leave on around 350 staff at its Santa Rita mine, in Brazil, as it looked for funding to support ongoing operations at the mine.

Mirabela, which went into voluntary administration in February, told shareholders that the group of note holders, which had previously provided the company with a recapitalisation proposal, was now reviewing its commitment to provide further funding to support operations at Santa Rita.

The consortium of holders, which currently hold Mirabela’s $395-million senior unsecured notes, due in April 2018, had previously agreed to a $45-million interim financing facility.

Mirabela told its shareholders that the administrators and the note holders were continuing their discussions to progress the proposed recapitalisation proposal, while the administrators would also investigate other proposals....
http://www.miningweekly.com/article/350-santa-rita-workers-on-forced-leave-mirabela-2014-04-17

350 Santa Rita workers on forced leave – Mirabela

PERTH (miningweekly.com) – Embattled nickel miner Mirabela Nickel has warned that it would impose forced leave on around 350 staff at its Santa Rita mine, in Brazil, as it looked for funding to support ongoing operations at the mine.

Mirabela, which went into voluntary administration in February, told shareholders that the group of note holders, which had previously provided the company with a recapitalisation proposal, was now reviewing its commitment to provide further funding to support operations at Santa Rita....

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Santa Rita
April 18, 2014 9:50:53 AM
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Whitehaven Coal said the Department of Environment has cleared it of any wrongdoing amid claims the company’s Maules Creek biodiversity offsets package was based on false and misleading information.

Two independent reviews conducted on behalf of activist group Lock the Gate found the land purchased by the mining company to compensate for the removal of box gum trees does not provide 'like for like' habitat and were said to be completely different ecosystems.

The most recent review by ecologist, John Hunter, said only one of 53 sites surveyed “was likely to fulfil the criteria of the critically endangered ecological community determination".

Those against the development of the mine said the reports showed the development of the mine should not be allowed go ahead....
http://www.miningaustralia.com.au/news/maules-creek-mine-offsets-package-given-green-ligh

Maules Creek mine offsets package given green light

Whitehaven Coal said the Department of Environment has cleared it of any wrongdoing amid claims the company’s Maules Creek biodiversity offsets package was based on false and misleading information.

Two independent reviews conducted on behalf of activist group Lock the Gate found the land purchased by the mining company to compensate for the removal of box gum trees does not provide 'like for like' habitat and were said to be completely different ecosystems.

The most recent review by ecologist, John Hunter, said only one of 53 sites surveyed “was likely to fulfil the criteria of the critically endangered ecological community determination"....

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Maules Creek
April 18, 2014 9:48:02 AM
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Finnish engineering firm Metso Corporation has rejected Scottish rival Weir Group's (LON:WEIR) US$5.5bn proposal to merge, claiming the deal isn't in the best interests of its shareholders and that it remains confident of its growth prospects as a stand-alone firm.

Weir revealed earlier this month it had proposed an all-share merger to Metso that would create a group with a combined market capitalization of US$14 billion (£8.5bn).

Under the terms of the proposed deal Metso shareholders would receive 0.84 Weir shares per Metso share held, which would see the Finish firm’s shareholders owning around 37% of the combined company.

The merged entity would be listed on both the London and Helsinki Stock Exchanges.

In response to Metso’s rejection Weir said it continues to believe in the strategic rational for bringing the two companies together. However, it added that there was no certainty it would revise the terms of its original offer....
http://www.mining.com/metso-rejects-weirs-5-5-billion-merger-approach-82141/

Metso rejects Weir’s $5.5 billion merger approach

Metso's HQs in Finland.

Finnish engineering firm Metso Corporation has rejected Scottish rival Weir Group's (LON:WEIR) US$5.5bn proposal to merge, claiming the deal isn't in the best interests of its shareholders and that it remains confident of its growth prospects as a stand-alone firm.

Weir revealed earlier this month it had proposed an all-share merger to Metso that would create a group with a combined market capitalization of US$14 billion (£8.5bn).

Under the terms of the proposed deal Metso shareholders would receive 0.84 Weir shares per Metso share held, which would see the Finish firm’s shareholders owning around 37% of the combined company....

The Mining Hub
April 18, 2014 9:44:05 AM
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The government of Guinean President Alpha Condé has approved last week’s recommendation of revoking iron ore mining licences for BSG Resources (BSGR) and its joint venture partner, Brazil's Vale (NYSE:VALE) in the mineral-rich Simandou mountains.

According to a Guinean official quoted by Reuters, the West African nation will withdraw the mining permit held by VBG, a company run by BSGR and Vale, and will also cancel its Zogota mining concession.

BSG Resources, the mining arm of Israeli tycoon Beny Steinmetz’s family conglomerate, sold a 51% stake in its Guinean assets to Vale in 2010 in a $2.5bn deal, under which $500 million was paid upfront by the Rio de Janeiro-based company.

Since then, the venture has been thwarted by logistical obstacles and later accusations that BSGR used bribes to acquire the mining rights it now shares with Vale, and that both are about to lose....
http://www.mining.com/guinea-government-to-strip-vale-bsgr-of-all-simandou-rights-97066/

Guinea government to strip Vale, BSGR of all Simandou rights

Though it is far from ports, roads and rail, the iron ore deposits studded in Simandou's hills, among the richest in the world, are easily extractable.

The government of Guinean President Alpha Condé has approved last week’s recommendation of revoking iron ore mining licences for BSG Resources (BSGR) and its joint venture partner, Brazil's Vale (NYSE:VALE) in the mineral-rich Simandou mountains.

According to a Guinean official quoted by Reuters, the West African nation will withdraw the mining permit held by VBG, a company run by BSGR and Vale, and will also cancel its Zogota mining concession....

The Mining Hub
Simandou
April 18, 2014 9:31:41 AM
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Central Asia Metals plc (CAM) has rewarded shareholders with a bumper dividend representing almost a quarter of its revenue in 2013 as it continues to charm investors and stand out as one of the best-loved AIM mining stocks.

The copper producer, after completing only its first full year of production at its Kounrad operation in Kazakhstan, said it would return £0.05/share (US$0.08/share) as a final dividend, adding up to £0.09/share for 2013, eclipsing the £0.07 it returned in 2012 and mooted that further returns could be on the cards.

“We have returned a total of US$12.6 million in the year, which represents 23% of attributable revenue. In addition, our shareholders will benefit from further growth in value as we assess opportunities to grow the business both in the Central Asian region and globally,” CEO Nick Clarke said.

The company’s earnings before interest, taxes, depreciation and amortisation came in at US$32.4 million in 2013, up 102% from 2012’s US$16 million, while operating profit hit US$27.9 million, an 86% rise on the US$15 million it recorded a year earlier. It had US$44.5 million of cash on hand at the end of the year and no debt....
http://www.mining-journal.com/emea/the-future-is-bright

The future is bright

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Kounrad
April 18, 2014 9:26:31 AM
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Miners from the Nifty underground copper operation in the east Pilbara are threatening to take legal action against owner Aditya Birla Minerals following a cave-in that has forced 400 workers offsite.

Shares in the company - part of US$40 billion ($42.7 billion) Indian conglomerate Aditya Birla Group - have been suspended from trading, having last changed hands at 29.5�, since the "underground subsidence" late last month.

Aditya Birla is the latest in a string of owners of Nifty, which is near Newcrest's Telfer gold mine.

Workers have been forced to take their annual leave while those without leave entitlements are on indefinite unpaid leave...
https://au.news.yahoo.com/thewest/business/wa/a/22700951/workers-up-in-arms-over-nifty-layoffs/

Workers up in arms over Nifty layoffs

Miners from the Nifty underground copper operation in the east Pilbara are threatening to take legal action against owner Aditya Birla Minerals following a cave-in that has forced 400 workers offsite.

Shares in the company - part of US$40 billion ($42.7 billion) Indian conglomerate Aditya Birla Group - have been suspended from trading, having last changed hands at 29.5�, since the "underground subsidence" late last month.

Aditya Birla is the latest in a string of owners of Nifty, which is near Newcrest's Telfer gold mine....

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Nifty
April 17, 2014 7:40:26 AM
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Diversified major BHP Billiton has reported record production for four of its commodities, at ten operations, during the nine months ended March, and increased its full-year iron-ore and metallurgical coal production expectations.

“Our productivity agenda continues to deliver outstanding results, underpinning a 10% increase in production so far this year,” said BHP CEO Andrew Mackenzie.

“Having achieved record iron-ore and metallurgical coal production during the first nine months of the year, we have raised full-year guidance for both commodities.”

The miner told shareholders on Wednesday that iron-ore production for the year-to-date had increased by 21%, to 147.3-million tonnes, while production for the three months to March was up 23% on the previous corresponding period, to 49.5-million tonnes.

The Australian operations achieved record production for the nine months under review, underpinned by strong operating performances and the continued ramp-up of the Jimblebar mine...
http://www.miningweekly.com/article/bhp-hikes-iron-ore-met-coal-production-forecasts-2014-04-16

BHP hikes iron-ore, met coal production forecasts

PERTH (miningweekly.com) – Diversified major BHP Billiton has reported record production for four of its commodities, at ten operations, during the nine months ended March, and increased its full-year iron-ore and metallurgical coal production expectations.

“Our productivity agenda continues to deliver outstanding results, underpinning a 10% increase in production so far this year,” said BHP CEO Andrew Mackenzie.

“Having achieved record iron-ore and metallurgical coal production during the first nine months of the year, we have raised full-year guidance for both commodities.”...

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Caval Ridge
April 17, 2014 7:33:59 AM
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Gold miner Silver Lake Resources has reported lower gold production for the three months to March as its Mount Monger and Murchison operations were affected by heavy rainfall.

During the quarter under review, ASX-listed Silver Lake produced 44 574 oz of gold, compared with the 55 079 oz produced in the previous quarter, resulting from lower ore mined during the period.

During the quarter, 706 178 t of ore was milled, at a grade of 2.3 g/t gold to deliver 49 289 oz of gold. This was also less than the 61 152 oz produced in the previous quarter.

Silver Lake placed the Murchison operation on care and maintenance in February, as the fall in the gold price during 2013 resulted in the deferment of capital spend required to access higher-grade, underground reserves at Murchison, and a focus on production from lower-grade openpit reserves.

As a result of the mine being placed on care and maintenance, some 42 employees and 85 contractors would be made redundant...
http://www.miningweekly.com/article/silver-lakes-quarterly-output-affected-by-heavy-rain-2014-04-16

Silver Lake’s quarterly output affected by heavy rain

PERTH (miningweekly.com) – Gold miner Silver Lake Resources has reported lower gold production for the three months to March as its Mount Monger and Murchison operations were affected by heavy rainfall.

During the quarter under review, ASX-listed Silver Lake produced 44 574 oz of gold, compared with the 55 079 oz produced in the previous quarter, resulting from lower ore mined during the period.

During the quarter, 706 178 t of ore was milled, at a grade of 2.3 g/t gold to deliver 49 289 oz of gold. This was also less than the 61 152 oz produced in the previous quarter....

The Mining Hub
Mount Monger
April 17, 2014 7:18:00 AM
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ASX-listed Yancoal Australia has halted production at its Austar coal mine, in New South Wales, following the death of two employees.

The miner reported on Wednesday that a team of employees had been working at the underground operation when a wall collapsed.

A recovery operation was initiated at the site, and local emergency services and the New South Wales Department of Trade and Investment were immediately notified of the incident.

The Austar mine started production in 2005, employs about 400 staff and produces about three-million tonnes a year of coking coal.
http://www.miningweekly.com/article/fatalaties-reported-at-yancoal-mine-2014-04-16

Fatalities reported at Yancoal mine

PERTH (miningweekly.com) – ASX-listed Yancoal Australia has halted production at its Austar coal mine, in New South Wales, following the death of two employees.

The miner reported on Wednesday that a team of employees had been working at the underground operation when a wall collapsed.

A recovery operation was initiated at the site, and local emergency services and the New South Wales Department of Trade and Investment were immediately notified of the incident.

The Austar mine started production in 2005, employs about 400 staff and produces about three-million tonnes a year of coking coal....

The Mining Hub
Austar
April 17, 2014 7:15:08 AM
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QCG Resources will buy MMG’s idle Tasmanian Avebury nickel mine for $40 million and is looking to restart production in a quick timeframe, leading to 200 new jobs.

The mine, located 8kms west of Zeehan on Tasmania’s west coast, has been in care and maintenance since February but new owners say they are confident current nickel prices could lead the restart of production.

QCG is a privately owned exploration company and chairman Doug Daws said the mine could be up and running shortly.

“The diligence to which the care and maintenance program has been conducted means that mining could recommence within a short time frame once we are able to make necessary modifications to the milling circuit,” Daws said...
http://www.miningaustralia.com.au/news/nickel-mine-sale-could-lead-to-200-new-jobs

Nickel mine sale could lead to 200 new jobs

QCG Resources will buy MMG’s idle Tasmanian Avebury nickel mine for $40 million and is looking to restart production in a quick timeframe, leading to 200 new jobs.

The mine, located 8kms west of Zeehan on Tasmania’s west coast, has been in care and maintenance since February but new owners say they are confident current nickel prices could lead the restart of production.

QCG is a privately owned exploration company and chairman Doug Daws said the mine could be up and running shortly.

“The diligence to which the care and maintenance program has been conducted means that mining could recommence within a short time frame once we are able to make necessary modifications to the milling circuit,” Daws said....

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Avebury
April 17, 2014 7:11:50 AM
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Yara Pilbara chief executive Mark Loquan has called for industry standardised safety training for mine site workers in Western Australia.

Mr Loquan raised the idea at the Chamber of Minerals and Energy health and safety conference in Perth on Monday morning.

He told delegates that the onshore sector is lagging behind the offshore industry in achieving across-industry minimum safety standards for contractors.

“I am in no way questioning the commitment to safety across the sector and by the contractors, but I am concerned there are no agreed minimum standards that apply across the onshore processing industry,” Loquan said.

“Currently it’s somewhat fragmented, with individual companies having their own systems and requirements but the industry has a highly mobile workforce. This can yield unpredictable outcomes in the industry.”...
http://www.miningaustralia.com.au/news/yara-pilbara-chief-calls-for-industry-wide-safety

Yara Pilbara chief calls for industry-wide safety training

Yara Pilbara chief executive Mark Loquan has called for industry  standardised safety training for mine site workers in Western Australia.

Mr Loquan raised the idea at the Chamber of Minerals and Energy health and safety conference in Perth on Monday morning.

He told delegates that the onshore sector is lagging behind the offshore industry in achieving across-industry minimum safety standards for contractors.

“I am in no way questioning the commitment to safety across the sector and by the contractors, but I am concerned there are no agreed minimum standards that apply across the onshore processing industry,” Loquan said....

The Mining Hub
April 17, 2014 7:10:12 AM
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