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16 May 2008
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LAST WEEK'S STORIES

 Wednesday, 14 May 2008

More at stake than Kodu with World Heritage map


THE Papua New Guinea Chamber of Mines and Petroleum has received a proposed World Heritage Area map that it says will impact exploration licences and applications other than Frontier Resources’ Kodu deposit near the Kokoda Track.
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Zinc on upward spiral


THE spot price of zinc benefited from a combination of strike action in Africa and uncertainty following the fallout of the recent Chinese earthquake. Meanwhile zinc miners on the Aussie bourse reflected the upward trend.
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Paramount to expand executive team


DIAMOND explorer Paramount Mining says it will appoint a new executive to its management team as soon as possible, after the sudden resignation of its chairman Steven Cole, announced yesterday.
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Carrick sitting on more than 4Moz gold


PERTH-based Carrick Gold has boosted its global resources to more than 4 million ounces of contained gold with the addition of an inferred and indicated resource for the HalfWay Hill prospect within the Western Australian Kurnalpi project.
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Polaris updates Yilgarn resource base


IRON hopeful Polaris Metals has reported an updated inferred mineral resource for its Yilgarn iron ore project in Western Australia following the resolution of a dispute with Portman Mining over ownership of the Bungalbin tenement.
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Heron, Barrick launch $1.5m gold project farm-in


HERON Resources has teamed up with Barrick Gold’s Kalgoorlie subsidiary in a farm-in agreement to develop Heron’s Kanowna South project, north of Kalgoorlie.
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Mt Padbury deal moves Montezuma closer to manganese sector


DIVERSIFIED explorer Montezuma Mining Company has exchanged its Mt Padbury licence manganese rights for a stake of around 12% in up-and-coming iron ore company, Auvex Metals.
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Working the land, in more ways than one
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TRAINING farmers to be miners is one clever way to get more workers into the country’s key industry, reckons Crosscut Clyde, and getting youth involved from the early days is another key measure.
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NT tenements for Western Desert


WESTERN Desert Resources has added a new Top End iron ore tenement to its exploration portfolio and moved to acquire a second adjoining tenement.
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Zinc prices jump after earthquake, strikes


A STRIKE in Namibia and the Chinese earthquake have seen zinc prices rally overnight after months in the doldrums.
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The end is nigh! Or is it?
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AFTER partaking of his first cup of tea for the day Michael Pascoe gives his views on where the boom is at.
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Mining should gain from budget training boost


THE resources sector is expected to benefit from the expansion of vocational training places and the development of Trade Training Centers in secondary schools as part of the Rudd Government’s $A11 billion Education Investment Fund handed down in last night's Federal Budget.
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Skilled migrant intake gets budget makeover


THE Rudd Government, in its first budget, has announced initiatives to tackle the skills shortage in Australia that include upping the intake of skilled migrants into Australia and reforming the 457 visa scheme.
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Infrastructure gets $20b budget boost


INFRASTRUCTRE was a big winner in the Rudd Government’s first Federal Budget with an initial $A20 billion to be injected into a fund to build roads, rails, ports and a national broadband network.
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South African mining output shows power cut damage


THE effects of the South African power shortage on the nation’s mining industry are becoming clear with statistics showing a 17% drop in mining output in March due to the failing electricity supply.
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    Environment report backs Kodu mine


    AN INDEPENDENT environmental assessment for a mine at Frontier Resources’ Kodu deposit in Papua New Guinea has reported minimal risks to the Kokoda Track, Port Moresby’s future water supply and the environment.
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    Trafford scores golden goal


    TRAFFORD Resources was floated to explore for iron oxide, copper, gold and uranium deposits with a primary focus on gold, but its first potentially commercial discovery was iron ore, which, when in production will return gold credits to Trafford at no mining cost. By Wally Graham – RESOURCESTOCKS*
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     Tuesday, 13 May 2008

    Alumina to raise $US300m


    ALUMINA says it has launched a convertible bond offering to raise around $US300 million ($A317 million) to repay existing debt and to fund Alumina’s investment in Alcoa World Alumina and Chemicals (AWAC) growth projects.
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    Copper gains


    WHILE its gains were only marginal – at just below 2% – copper gave the best performance on the London Metals Exchange. However, for local plays in the copper game most action was in a downward direction.
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    Budget day blues for resource plays


    WITH the Federal Budget due to be released in a matter of hours, the market hosted gains across most sectors of the Australian bourse – except in the resources camp. Perhaps it was pre-budget jitters or a case of Tuesday malaise, but players in the mining side let the team down, and not even news of BHP snaffling the remaining piece of a Canadian potash project could halt its downward doozy.
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    Capital Watch: Admiralty, AusQuest, Contact, Gryphon, Overland, Renison, Strike, West Australian Metals


    MELBOURNE-based Admiralty Resources has boosted its coffers by some $A5 million following a share placement.
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    Strike while Peruvian iron ore is hot


    PERTH-based explorer Strike Resources has topped up its war chest by $A32 million through a share placement to fund the development of its Peruvian iron ore assets.
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    Hunan makes a bid for Abra


    HUNAN Nonferrous Corporation, China’s biggest zinc producer, has made good its promise to look beyond China for resource investments with the company today launching a proportional takeover play for Perth-based junior Abra Mining.
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    Maiden resource for Scotland gold explorer


    JUNIOR gold play Scotgold Resources has released a maiden JORC-compliant resource for the Cononish gold and silver deposit in Scotland’s Grampian Highlands.
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    BHP picks up Canadian potash play


    AS FERTILISER prices skyrocket, BHP Billiton has made a friendly play for Anglo Potash in a move that has nabbed the major miner the final 25% of a massive Canadian potash project.
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    Austindo to focus on exploration, farms out Cibaliung


    AUSTINDO has entered into a binding Heads of Agreement with East Asia Minerals for a farm-out of its Cibaliung Gold Project in Indonesia, while the company plans a new strategic direction.
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    Extract ticks boxes at Rossing South


    SPECTRAL logging analysis from the Rossing South project in Namibia has delivered “a number of significant uranium intersections”, according to Perth-based Extract Resources.
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    On top of the world in Queensland
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    A YOUNG Queensland woman is leading the charge for women in the mining industry. By Vivienne Ryan.
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    Nickel prices down, takeover talk up
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    NICKEL prices have failed to dazzle in the past few months, but the continued grinding of the takeover rumour mill is keeping Australian producers afloat. The Metal Detective, by Stephen Bell
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    Mining industry cautious about Federal Budget


    WITH the economy slowing, and costs and inflation rising, today’s Federal Budget is not expected to hold much for the mining sector despite calls from the industry’s key representative bodies for tax reform, an increased focus on infrastructure, and measures to fund mineral exploration.
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    Hillgrove pounces on InterMet


    MERGER and acquisition activity is trickling down to the junior end, with copper hopeful Hillgrove Resources launching a takeover play for fellow South Australia-focused junior InterMet Resources.
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    Indos, Indians unite in $700m steel-nickel venture


    INDONESIAN miner PT Antam will team up with Indian steel group Jindal Stainless to establish a $US700 million nickel smelting and steel processing facility on the Indonesian island of Sulawesi.
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    Look beyond the obvious: Recruiter


    RECRUITING in the mining sector could be as easy as having a MySpace page to attract school leavers or working with local schools to attract mothers for work during school hours, mining leaders were told at a conference this week.
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    Anvil slumps on quarterly income dip


    COPPER and silver producer Anvil Mining’s stock dipped more than 11% in early morning trade, on a 1.4% quarter-on-quarter slip in net income to $US21.4 million ($A22.6 million) for the March quarter.
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    2008 the year of the hunt: Ernst & Young


    THREE $US50 billion-plus mining deals may be on the cards before the end of 2008 as consolidation in the mining sector not only continues but could accelerate in the short to medium term, according to a new Ernst & Young global report.
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    Vulcan intersects multiple commodities at Kuhmo


    EMERGING base metals developer Vulcan Resources has intersected multiple high-grade metals at the Hietaharju prospect, part of Vulcan’s 95%-owned Kuhmo nickel project in eastern Finland.
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    Reedy gets ready with drill results


    WITH gold grades of up to 10.8 grams per tonne, Beadell Resources has described the latest results from the Reedy Creek project, north of Melbourne, as “extremely encouraging”.
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    Western Metals gains on Parys details


    WESTERN Metals has released a historical resource estimate for its newly-acquired Parys Mountain copper-lead-zinc project in North Wales.
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    Phu Kham to produce 30,000tpa in 2008


    PAN Australian’s Phu Kham copper-gold mine in Laos was officially opened last Friday, with the mine slated to produce 30,000 tonnes of copper by the end of year.
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    Ord man river


    ORD River Resources is cooperating with its strategic partner with a view to becoming a regional explorer. By Lou Caruana – RESOURCESTOCKS*
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     Monday, 12 May 2008

    Lacklustre session on eve of budget


    BUDGET eve saw cautious gains for the resources camp today. While prices on the London Metal Exchange looked grim, business confidence recorded new lows and talk of major banking mergers left some sectors nervous, most companies occupying the larger end of the resources market closed the day in positive territory.
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    Small companies post big percentage gains


    THERE was an air of caution in today’s market with most movement of the modest variety. However some resource stocks came out to play, with a number of smaller companies posting impressive percentage gains.
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    Weld Range resource jumps 12%: Midwest


    IRON ore play Midwest Corporation has reported a 12% boost in the total mineral resource estimate at its flagship Weld Range project in Western Australia’s Mid West region.
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    New target boosts Warwick


    SHARES in Warwick Resources jumped as much as 22% today on news of the largest iron ore target to date identified at the company’s Woggaginna project in Western Australia’s Pilbara region.
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    Dryblower on mega-merger time


    BHP Billiton is doggedly pursuing Rio Tinto. Vale is thinking about a second crack at Xstrata, and Rusal wants to merge with Norilsk. Three possible deals that are enough to convince Dryblower that big changes are underway, and that the mining world is in danger of becoming more like the oil world.
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    PNG landowners get behind Panguna


    LOCAL groups in Papua New Guinea have called for Bougainville Copper to return to the island after the reopening of the massive Panguna copper mine was mooted for the first time in two decades.
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    Didipio project costs double


    OCEANAGOLD has slapped a revised $US320 million ($A340 million) price tag on its Didipio gold-copper project in the Philippines, more than doubling its previous capital cost estimate of $155 million.
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    Zinifex shareholders getting a good deal: expert


    AN INDEPENDENT expert has found the planned Oxiana and Zinifex merger is fair to Zinifex shareholders, despite “considerable uncertainty” about both companies’ future valuations given the current market and commodity price volatility.
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    Base, bulks or precious? Which commodity sector will stay hottest for longest?
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    MININGNEWS.NET last week referred to phosphate rock as the commodity du jour – or commodity of the day for those as unskilled in the language of love as I am. So the most obvious question that stems from this statement is to identify the commodities du demain. That is, which elements have prices that will still love you tomorrow. Allan Trench takes his best shot at an answer – bulk commodities. Do you agree?
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    Sino Gold under attack from Chinese


    A STATE-owned Chinese television station has lashed out at Australian mining company Sino Gold over its Jinfeng mine, China’s second-largest gold mine, according to reports.
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    Rio launches live-in research
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    EMPLOYERS facing a shortage of skilled staff in the Mackay region are facing another challenge, encouraging people who relocate to stay long term. Alex Forrest reports
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    FerrAus adds to war chest for Pilbara work


    IRON ore hopeful FerrAus has raised $A7.8 million via a share placement to fund exploration in the Pilbara, a week after a major Chinese mining company took a 10% stake in the Adelaide-based play.
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    Mount Lindsay shows more magnetite


    NEW assay results have strengthened the iron ore potential of Venture Minerals’ flagship Mount Lindsay magnetite-tin project in North West Tasmania with grades of up to 42.9% magnetite iron.
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    Higginsville plant kicks off


    AVOCA Resources has begun commissioning of its Higginsville treatment plant in Western Australia’s goldfields region.
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    Crescent pays out loans to mine new areas


    CRESCENT Gold has paid out a $A21.5 million project loan facility, leaving the company with the freedom to mine and process ore that was not part of its previous mine plan.
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    Gryphon to accelerate exploration at Banfora


    GRYPHON Minerals has boosted its coffers to the tune of $A10 million to accelerate exploration at its Banfora gold project in Burkina Faso, West Africa.
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    Universal to bag new uranium tenements


    UNIVERSAL Resources has bolstered its Queensland uranium potential with plans to acquire a new Mt Isa-area tenement from mining major Newcrest, for an undisclosed sum.
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    NT focus for gold explorer


    THE Northern Territory’s modern era gold potential is being significantly enhanced by the on-the-ground exploration and drilling impetus of Adelaide-based and ASX-listed Australasia Gold. By Imelda Cotton – RESOURCESTOCKS*
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     Friday, 9 May 2008

    Coates teams up with Minara


    MINARA Resources, Australia’s second-largest nickel producer, has appointed Xstrata Australia chair Peter Coates as its new chairman.
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    South Boulder Mines ‘disrespectful’: indigenous group


    ASPIRING potash miner South Boulder Mines has come under fire from an organisation representing a group of indigenous landowners, over statements it made in relation to a recently signed exploration access agreement.
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    Resources help lift market again


    EQUITIES are starting to emerge from the rubble of the sub-prime crisis and the resultant credit crunch, with some hardy souls even venturing to suggest the market has bottomed out.
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    Nickel down below key marker


    AFTER spot nickel posted a 3.5% fall on the London Metal Exchange, below the $US28,000 per tonne trend line to $27,275/t, most nickel plays on the Australian Securities Exchange did the same. Western Areas, meanwhile, continues to buck the trend, rising to a new all-time high closing price of $10.45.
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    Gleneagle sets sights on Mozambique tenements


    GLENEAGLE Gold has moved closer to bagging six exploration tenements in Mozambique.
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    2007 a golden year for silver


    SILVER posted a solid performance in 2007 with the annual price for the white metal averaging $US13.38 an ounce – a 16% rise on 2006 – thanks to strong investor and industrial applications demand, according to a report by the Silver Institute and Gold Fields Mineral Services.
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    Diatreme fast-tracks potentially lucrative heavy minerals project


    BRISBANE-based explorer Diatreme Resources is bullish about its heavy mineral sands projects in the Eucla Basin with a 73,500m air core drilling program due to start soon.
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    Chinese Republic


    CLEARLY China is the new black. Anyone who’s anyone these days in the resources arena is either doing business or making plans to do business with the Chinese, so news of Republic Gold’s recent jaunt to the Asian nation should come as little surprise.
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    Dispute with Portman over as Polaris gets Bungalbin rights


    THE dispute between Polaris Metals and Portman over the Bungalbin tenements has finally been settled, with Polaris assuming rights over three iron ore tenements in Western Australia.
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    WA’s key business still needs more support: CME, AMEC, CCI


    WESTERN Australia’s mining and business representative bodies have welcomed some measures in the 2008 State Budget but underlying this was the message that both state and federal governments must do more to support Australia’s key industry.
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    Chirundi viable at 1.3Mlb production a year


    HOT on the heels of yesterday’s upgraded resource figures, Albidon and its joint venture partner African Energy Resources have released the details of a pre-feasibility study into the Chirundi uranium project in Zambia.
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    Kalkaroo copper buoys Havilah


    DIVERSIFIED metals explorer Havilah Resources has beefed up its copper credentials – and its share price – with further infill drilling results from the Kalkaroo project in South Australia.
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    Austin bolsters Bowen capacity
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    A MAJOR aftermarket dump truck body supplier this week used the BBY Mining Conference in Sydney to herald the recent $A4 million expansion of its Mackay workshop – one of numerous capacity upgrades it has carried out in a bid to meet the needs of a constantly expanding client base. Alex Forrest reports
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    Miner-backed vaccine trial ready to go
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    A BIOPHARMACEUTICALS company backed by the mining industry is waiting for the green light to proceed with a trial for an HIV/AIDS therapeutic vaccine in Southern Africa. By Kellie Guest
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    Maximus soars on Canegrass target


    SHARES in junior explorer Maximus Resources have shot up to an intraday high of A27.5c in morning trade on news of an exploration target of between 1.7 and 3 billion tonnes of iron ore discovered at its wholly-owned Canegrass iron ore-vanadium project near Windimurra in Western Australia.
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    Challenge and opportunity: Mining in Mozambique
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    WITH massive social challenges including widespread poverty and unrest, mining in Mozambique is unlikely to be everyone’s cup of tea. However a handful of Australian and other international mining companies are answering the Mozambican Government’s call for increased foreign investment activity. By Charlotte Dudley
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    Midwest nominates Yilgarn for port on deadline


    MIDWEST Corporation has finally made an 11th hour nomination of Yilgarn Infrastructure for the Oakajee port tender.
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    Baal Gammon gets green light


    NORTH Queensland Metals has given its Baal Gammon copper-tin-silver-indium project in far north Queensland the thumbs up after a mine feasibility study confirmed the project was robust.
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    WA bucks downward labour demand trend


    DESPITE evidence of a softening labour market, new employment figures show mining boom state Western Australia is leading the demand for jobs growth, with a 2.7% increase in job ads for the month of April.
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    Image hones its heavy mineral booty


    MINERAL explorer Image Resources has announced a maiden heavy mineral resource of more than 260 million tonnes at 87% heavy mineral content.
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    Citadel strengthens Saudi resource


    CITADEL Resources has raised its profile as well as the resource at its Jabal Sayid copper-gold project in Saudi Arabia. By Wally Graham – RESOURCESTOCKS*
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     Thursday, 8 May 2008

    Pilbara benefits from budget


    THE Western Australian resources sector received some welcome news in the Carpenter Government’s 2008-09 budget, especially for those miners operating in the iron ore-rich Pilbara region.
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    Fertile ground for phosphate hopefuls


    AFTER a bruising start to the session, the market slowly clawed back some ground but miners were left at rather a loss. Livening up the day, however, was some exciting phosphate action.
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    Another mixed session for yellowcake plays


    THIS year has not been kind to uranium stocks, and today was no exception. A broker’s report from Goldman Sachs JBWere today said the metal is due to dip and perceptions of a shortfall in the future may be wrong, but another analyst from Merrill Lynch pointed out the uranium upside. Either way, uranium stocks followed the market with an ordinary to average session, with one or two performers.
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    Chirundu JV partners buoyed by resource increase


    JOINT venture partners in the Chirundu project, Albidon and African Energy Resources, have reported a partial conversion of inferred resources to indicated status at the Njame and Gwabe uranium deposits which has increased total uranium resources at the Zambian project by 5%.
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    Yilgarn waits as deadline looms


    WITH one day left until the deadline, Yilgarn Infrastructure has yet to receive its Oakajee Port nomination from iron ore miner Midwest Corporation.
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    Phosphate news puts a rocket under Uramet


    SHARES in junior explorer Uramet have soared by 250% on news that it has found phosphate rock samples of up to 32% at its tenements in the Georgina Basin in the Northern Territory and Queensland.
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    Canberra, step up to the plate
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    JUST how much of Australia’s mineral wealth is China going to end up owning? Keeping it for Australia’s future might be something for Canberra to think about. The Outcrop by Robin Bromby
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    GME has 200 suppliers locked in


    DESPITE it being almost six months away, the 2008 Goldfields Mining Expo has already signed up more than 200 exhibitors.
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    ‘Growth opportunities’ as Zinifex snaffles Jinchuan’s Allegiance stake


    WITH news that Chinese nickel producer Jinchuan Group has agreed to release its 10.4% stake in Allegiance Mining, Zinifex is now poised to take full control of Allegiance.
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    BHP talks up petroleum as next takeover step looms


    BHP Billiton’s petroleum division is anything but a liability, according to company chief executive Marius Kloppers. Rather, oil and gas is a key platform for the company’s future growth as it moves to formalise the offer for Rio Tinto with a submission to European regulators.
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    Haoning Group takes stake in Jupiter


    IRON ore and metallurgical company Haoning Group has become the latest Chinese group to adopt the strategy of seizing shareholdings in Australian iron ore plays after securing a 9.55% stake in Jupiter Mines.
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    Intec in the pink


    MINERAL processing technology group Intec has become the sixth Australian company to join the United States-based OTCQX market.
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    Topical purchase


    MAJOR Western Australian resources and remote site catering company Topic Caterers has been acquired by ISS Facility Services for an undisclosed sum.
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    Capital Watch: Platina, Windy Knob, Polaris, Central Asia


    PLATINA Resources is looking to raise up to $A3.3 million via a renounceable rights issue to help fund pre-feasibility studies on the Skaergaard platinum group metals project in East Greenland.
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