Archive for June, 2013

RIO TINTO TO RAISE $250M CAPITAL FOR DIAMOND MINING

Tuesday, June 4th, 2013

RIO TINTO TO RAISE CAPITAL FOR DIAMOND MINING

heart pink diamond

Rio Tinto and its advisers at Morgan Stanley are developing plans to raise roughly $250 million in a separate listing of the company’s diamonds division on the London Stock Exchange.

The flotation, code-named ‘Project Aurora,’ could take place as early as autumn of this year.

The listing of the operation could be worth up to $5 billion, according to Sky News.

Rio’s diamond business operates globally, and includes mines in Australia, Canada, India and Zimbabwe.

Staying on trend of reduced capital expenditure, “recent reports have suggested that Rio is also close to offloading its 60% stake in the Diavik diamond mine in Canada.”

PINK DIAMOND & SAPPHIRES REWARD BANNER-3

Henry Sapiecha

blue diamonds line on white

CALIFORNIA HAS THE ONLY ACTIVE RARE EARTH MINE IN THE USA

Tuesday, June 4th, 2013

WYOMING RARE EARTHS MINE RELEASES LATEST REPORT

Wyoming-300x250

Wyoming released Monday its new statewide survey of rare earth elements with promising results.

The Wyoming State Geological Survey completed an investigative report — including samples, maps, measured and recorded amounts — on the minerals to encourage further commercial exploration.

Through the scientific study, the WSGS has confirmed that rare earth elements occur across the state. For example, data indicates 20 sites produced samples with at least five times the average crustal abundance of rare earths — a positive measurement for deeper examination.

The report is available for download from the WSGS site.

Additionally, WSGS has established the Wyoming Database of Geology (Wyo-DOG) to assist in future geological studies. The database includes all elemental analyses along with brief write-ups and photographs of most samples and sites.

The Bear Lodge deposit, near the town of Sundance in northeastern Wyoming, is considered one of the largest potential sources of the minerals in North America.

Currently, Molycorp’s Mountain Pass operation in California is the only active mine in the US.

Henry Sapiecha

fine gold line

THE SHUTTING DOWN OF 43 ILLEGAL MINE OPERATIONS IN INDIA BY GOVERNMENT

Tuesday, June 4th, 2013

WHEN IS A MINE NOT A MINE IN INDIA??

illegal-mining-India-300x250

The Rajasthan state campaign against illegal mining has closed 43 illegal mines since its commencement in 2012, reported the Hindustan Times Monday.

Eight people have been arrested in the Alwar district and 33 vehicles have been seized during the campaign.

State officials discovered in the spring of 2012 that most of the illegal mining was happening on government forest land.

In addition to the 43 successful closures, hundreds of cases of illegal mining across the state have been registered by state officials over the past year.

Henry Sapiecha

silver bars line

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