PMEA Blog

ADELAIDE, Australia — China’s biggest gold producer Zijin Mining Group has abandoned a $470 million takeover bid for Australia’s Indophil Resources Ltd. because of a long delay in getting Chinese local government approval for the deal.
Because Zijin is not a Chinese state-owned enterprise, approvals for the 545 million Australian dollar ($470 million) takeover, which was […]

Manuel T. Cayon
DAVAO CITY—The Apex Mining Co., declared anew by its new owners as a Philippine gold-mining company, has vowed to restart the operation of its gold mines in Maco, Compostela Valley.
The strength of its mining potential in Masara mines in Maco, said Emelita C. Fabro, chief of corporate relation and administration, would not only […]

Kevin Grewal
As a result of waning confidence in global growth and currency instability, investors continue to seek gold as a safe haven, pushing the shiny metal to record levels.
On Friday, gold soared passed the $1,260 per ounce mark, pushing gold futures up nearly 15 percent year-to-date and there is positive support indicating that the metal […]

VANCOUVER, BRITISH COLUMBIA - Crazy Horse Resources Inc. (TSX VENTURE: CZH) (the “Company”) a Vancouver based mineral exploration company, announces that it has entered into a property purchase agreement dated June 15, 2010 (the “Taysan Agreement”) with Taysan Copper Corporation for the acquisition of a 100% interest in the Taysan Copper-Gold Porphyry Project, in Batengas […]

K. A. Martin
THE MINES and Geosciences Bureau (MGB) and its Chinese counterpart, China Geological Survey, will start this month surveys of mineral deposits in the Visayas and Mindanao under an agreement both agencies signed in December last year.
MGB director Edwin G. Domingo said in a phone interview yesterday that the China state agency, which is […]

Surveyors from China are now in the Philippines to do the first in a series of geochemical mapping of copper and nickel deposits in the country.
“We’ve entered into an agreement with our Chinese counterpart for the conduct of a more scientific exploration. Whatever we will yield maybe used as initial data for the exploration of […]

Riza T. Olchondra
Philippine Daily Inquirer

MANILA, Philippines—Australian miner CGA Mining Ltd. reported record-high gold production at the Masbate project for the month of May.

In a statement posted at its web site, CGA said it produced 17,707 ounces of gold at Masbate.

“Throughput for the month of May was up 27 percent to 528,940 tons, which equates to […]

Riza T. Olchondra
Philippine Daily Inquirer

MANILA, Philippines— Mindoro Resources Ltd. has arranged for a potential share sale to the International Finance Corporation (IFC), a member of the World Bank Group, and other investors to advance the Agata nickel project in the Surigao gold district.

In a disclosure to the Toronto Stock Exchange, Mindoro Resources said that IFC […]

abs-cbnNEWS.com
MANILA, Philippines - The value of mineral output from Philex Mining Corp.’s Padcal mine rose 16% to P4.21 billion in the first 5 months of 2010 from P3.64 billion in the same period last year.
Based on the firm’s disclosures to the Philippine Stock Exchange, production value rose on the back of higher metal prices as […]

Frank Longid and Cecilia Yap
June 3 (Bloomberg) — Philex Mining Corp., the Philippines’ biggest miner, may spin off hydrocarbon assets, including 70 percent of a gas field that could cut the number of power failures in the nation.
The “initial indications” are that the undeveloped field is similar in size to Royal Dutch Shell Plc.’s Malampaya […]