BHP Billiton (LON:BLT) said this week that the High Court of Australia has today decided in its favour in its dispute with the Australian Taxation Office over certain tax issues relating to BHP Billiton's former Hot Briquetted Iron project.
Citigroup believes that Rio Tinto (LON:RIO) has “never looked cheaper”, so it is adding it to its list of most favoured UK metals and mining shares.
Broker Ambrian described Sylvania Platinum's (LON:SLP, ASX:SLP) tie-up this week with Aquarius Platinum (South Africa) as "great". The company announced it had agreed a deal with the world's fourth largest primary platinum producer, in which the pair will assess mining ore from the Everest North deposit in South Africa's Bushveld complex.
Tantalum miner Noventa (LON: NVTA,TSX:NTA) will need to raise US$25 million (£15.3 million) to bring the new plant at its Marropino mine in Mozambique into full operation, the company said on Friday. Noventa’s shares closed down 61.5 percent on Thursday after the firm announced a series of problems at Marropino including the need to invest further in plant at the mine in order to achieve targeted production of 600,000 pounds per annum.
Ariana Resources (LON:AAU) has completed a deal to acquire a number of prospective gold properties in western Turkey from KEFI Minerals. The two AIM-listed firms agreed the initial terms of the deal back in March. The four exploration licences cover two main areas, known as Kizilcukur and Muratdag.
Arian Silver (LON:AGQ, CVE:AGQ) told investors that it has uncovered a series of alleged thefts at the San Jose custom milling plant, which it believes contributed to a short-fall in silver recoveries in the previous quarter.
Afferro Mining (LON:AFF) said its reconnaissance drilling programme on Nkout East in Cameroon had identified high grade iron ore that warrants further investigation. The plan is to assess the potential of this higher grade ore in the surface oxidised cap to see whether it is of sufficient quality to be shipped to clients directly.
The delivery of two hydraulic shovels to the El Limon gold mine should lead to a “significant improvement” in production, Red Rock Resources (LON:RRR) said on Thursday.
EMED Mining (LON:EMED, TSE:EMD) shares offer good value at current levels, about 11 pence each, according to Fairfax analyst John Meyer. The respected mining analyst reckons the approval process that had seemingly stalled now appears to be back on again.
Stellar Diamonds (LON: STEL) is "on course to deliver substantial value to shareholders” said house broker Northland Capital Partners after an analyst visit to Stellar’s operations in Guinea and Sierra Leone. Northland said that progress on the key Tongo and Droubja kimberlite projects is encouraging while there are some significant improvements from the Mandala alluvial operations.
TanzaniteOne (LON:TNZ) has secured an option to acquire 100 percent of “an established sapphire project” in a known sapphire field in Australia. The AIM listed miner and supplier of rough tanzanite now has an exclusivity period for a minimum of three months and a maximum of six months to conduct due diligence and make a final decision.
Robert Bouquet has joined the board of Botswana Diamonds (LON:BOD) as a non-executive director from this week. The AIM-listed company said Bouquet had more than 16 years' experience in the global diamond industry. Most of his career has been with leading producers De Beers and Rio Tinto Diamonds in a variety of strategic and commercial roles, it added.
Patagonia Gold (LON:PGD) said that its 2010/11 drill programme is now 95 percent complete at the Cap-Oeste project in Santa Cruz, Argentina. Drilling is expected to run until the end of June, and after that the data will be incorporated into a new JORC resource update which has been pencilled in for the third quarter.
Strategic Natural Resources (LON:SNRP) says it is looking forward to this time next year when its first coal will have been mined, washed and delivered to port for its first shipment under the Trasteel contract. This week, the firm released its final results for the year to 28 February 2011, in which it said its plans had been converted into reality.
Ovoca Gold (LON:OVG) has decided to buy-back up to 10 percent of its own share capital because it believes the shares are undervalued.
Beowulf Mining (LON:BEM) said it is still on course to complete drilling on the Kallak South project by the end of the second quarter, despite falling behind during Sweden’s coldest winter for over a century. Average temperatures were below minus 30 degrees between November and January, and they only returned to a ‘more typical’ minus 17 degrees in February.