Mining Companies, Tibet Mineral Development To Develop Lithium Mining Project
Reported by Chinese news agency, Xinhua, mining company Tibet Mineral Development focus on developing lithium mining project in Salt Lake. Lithium mining project is estimated to have reserves of lithium carbonate to reach 2.4 million tons. The company plans to produce lithium carbonate in the first phase of 5,000 tons and the second phase of lithium production can reach 20,000 tons.
Tibetan mining company Mineral Development has hopes of becoming the largest lithium producer in China and became the main platform for restructuring the mining industry in Tibet.
Tibet Mineral Development Co is a mining company that has a 40 percent stake in mining company Shengyuan Mining Group Corporation. Mining company has several exploration projects of mining mineral resources. Read more
Closing of Non-Brokered Private Placement
Minco Gold Corporation is pleased to announce that Minco Gold has closed the non-brokered private placement financing previously announced on September 24, 2009. The financing placed 5,000,000 common shares in the capital stock of the Company at a price of $0.88 per share for gross proceeds of $4,400,000 with IDG-Accel China Growth Fund II L.P. and IDG-Accel China Investors II L.P. IDG-Accel Fund acquired, indirectly through Blue Sky Strategic Holdings I, Ltd., ownership of 4,622,000 common shares, and IDG-Accel Investors acquired, indirectly through Blue Sky Strategic Holdings II, Ltd., ownership of 378,000 common shares. Read more
Acquisition of Derby Salt Pty Ltd
Sirius Exploration Plc announces that it has acquired 100percen of the ordinary shares.in Derby Salt Pty Ltd for a consideration of £13,000,000. This consideration has been satisfied
by Derby Salt’s shareholders accepting 100,000,000 new Ordinary Shares of 0.25p in Sirius.at a price of 13p per share. Following completion of the transaction, Sirius will have an issued share capital
of 600,730,150 Ordinary Shares. Read more
Japanese Firms Secure Exploration Rights in Laos
Japan’s Nittetsu Mining and Sojitz have received authorisation from Laos to explore for copper on the back of increasing demand.
This is the first time that Japanese companies have been given approval to explore for copper in Laos, Bloomberg reports.
Both companies will conduct exploration work in the Moune district close to the Thai border, about 100km west of the capital Vientiane.
Sojitz said that copper is an important metal that is used in consumer durable goods and infrastructure and demand is expected from emerging markets. Read more
New wave of African mining M&A tempered by risk
LONDON – Mining firms digging for Africa’s untapped riches are attracting renewed interest, but takeover deals are likely to be dominated by emerging market players that are prepared to assume greater levels of political risk.
In contrast, Western mining giants, which have long held a presence in the mineral-rich continent, have spent the last year weathering the economic downturn and are expected to remain more cautious about taking on high-risk deals.Leading the charge have been top emerging market miners like Kazakhstan-based ENRC, West African-focused Randgold Resources, and South Africa’s AngloGold Ashanti, which have all recently snapped up small miners with rich assets in places such as the Democratic Republic of Congo . Read more
Asia Now Intersects Significant Gold Mineralization and Expands the Gold Zone at Beiya North by 280 Meters
TORONTO, ONTARIO- Asia Now Resources Corp.is pleased to release assay results from two new drillholes recently completed at its Beiya North target area. Beiya North occurs in the middle of a 13 km long by 2 km wide gold mineralization zone that hosts the adjacent Beiya Gold Mine with production capacity of up to 100,000 ounces of gold annually, the largest open-pit gold mine in Yunnan Province, China.
Both drillholes have intersected significant gold mineralization including 6.6 meters grading 2.8g/t gold, 31g/t silver, 0.75percen copper and 9.6 meters grading 2.0g/t gold, 34.7g/t silver, 6.7percen lead, more see below. These holes have expanded the main gold-silver zone by 280 meters. Thus the main gold-silver zone is now confirmed to extend at least 660 meters from the mining lease of the open-pit Beiya Gold Mine, and is open to the north and west on Asia Now’s property. The Company is currently focusing on the high-grade zones and continues to drill to define the extent of the resource. In addition to the two rigs currently drilling on site, two additional drilling rigs will be contracted to speed up the exploration. Read more
