Nevada Copper Corp. broke ground for its underground copper mine at Pumpkin Hollow Saturday, assisted by Gov. Brian Sandovol, who turned the first shovel of dirt, and other dignitaries. Others participating at the beginning of the $1 billion copper project were Joe Dini, former Speaker of the Nevada State Assembly and lifelong resident of Yerington,...
A feasibility study for its Mt. Hamilton property in eastern Nevada says a mine there would have “robust economics” with excellent potential for developing additiona resources, Solitario Exploration & Royalty Corp. said this morning. With an initial capital cost of $71.9 million and per-ounce costs of $535 per ounce, the open-pit mine would provide 120...
The Sichuan branch of the China Development Bank has confirmed the basic terms underlying a proposed $665 million term loan to finance the Mt. Hope molybdenum project in Nevada, General Moly Inc. confirmed yesterday. While there are no binding commitments at this time, the loan facility will now progress through drafting and syndication and...
Hecla Mining Co. has reported the largest silver reserves and resources in the company’s history with 148 million ounces and 281 million ounces, respectively, at year-end 2011. Hecla was reporting exploration results from its four district-sized land packages in the U.S. and Mexico, as well as an update on its three pre-development projects. Silver reserves...
Overall compliance with safety and health regulations is improving among the nation’s more than 12,000 metal and nonmetal mining operations, MSHA reported yesterday. Preliminary data indicate a 14% decrease in citations and orders issued at these mines – 74,373 in 2010 compared to 64,186 in 2011. Furthermore, the percentage that are significant and substantial...
Barrick Gold Corp. achieved a 22% return on equity in 2011, up from 20% in 2010, leading to an “excellent year,” Aaron Regent, president and CEO, said this morning. Full year adjusted net earnings rose 33% from the same prior year period to $4.67 billion. Adjusted operating cash flow increased 8% to $5.68 billion...
Rep. Mark Amodei of Nevada’s 2nd Congressional District has introduced “Yerington Land Conveyance and Sustainable Development Act” in the House to transfer lands now managed by the BLM to Nevada Copper Corp., the company reported this morning. Co-sponsors of the act are Rep. Shelley Berkley and Rep. Joe Heck. The bill would convey approximately...
Calico Resources Corp. today reported a significant increase in both contained ounces and average gold grade at its Grassy Mountain deposit in Malheur County, Oregon, near the Idaho border. In addition to increasing the gold resource, a NI 43-101 compliant silver resource and a NI 43-101 compliant higher-grade component of the gold resource, suitable...
The mining industry is emerging from the current economic storm with a bang, with new coal and mineral development occurring throughout the Centennial State, the Colorado Mining Association reports At the CMA’s 114th National Western Mining Conference & Exhibition — to be held March 19-22 in Denver — industry leaders will highlight the growth in Colorado’s...
Measured and indicated resources at its KSM (Kerr, Sulphurets, Mitchell) property in northern British Columbia now total 49.9 million ounces of gold, 12.7 billion pounds of copper, 261 million ounces of silver and 304 million pound of molybdenum, Seabridge Gold Inc. said this morning. Seabridge said that a successful 2011 drill campaign at its...
