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Leading Developments

Roof Fall Kills Four and Traps 25 at Grasberg

Rescuers have been digging day and night while pumping oxygen underground after a tunnel collapsed early this week at Grasberg, one of the world’s largest copper-gold mines in Indonesia, killing four workers and trapping at least 25 others.

Australian Mining Association Blasts Government Exploration Deductions

Citing great uncertainty, announcements for increased exploration deductions and smaller capitalization rules through higher taxes, the Australian treasury department is under intense fire by the country’s mining industry association representatives.

Amplats Scales Back Job Cuts in South Africa

Officials at Anglo American Platinum (Amplats), the world’s largest platinum producer, announced they will cut 6,000 South African mining jobs—though 50% less than the 14,000 initially proposed—seeking restored profitability without hostility from the government or trade unions.

Australian High Court Rules in Favor of Rinehart

Australia’s New South Wales Supreme Court has ordered Rio Tinto to pay $200 million in royalties to mining magnate Gina Rinehart and others, based on a 43-year-old iron ore claim.

ICMM Publishes Information on Responsible Reporting of Mineral Assets

The International Council on Mining and Minerals (ICMM) has released Responsible Reporting of Mineral Assets describing the work of the Committee for Mineral Reserves International Reporting Standards.

Rio Tinto Awards Scholarships for UWA Students

Rio Tinto has awarded 13 scholarships for 2013 to students at the University of Western Australia (UWA) under a five-year global education partnership program to promote resource industry expertise.

Laurentian University Leads New $12 million Geoscience Research Project

A new Canadian geo-science research effort involving universities and mining industry sponsors nationwide is being supported by the largest grant ever via the Natural Sciences and Engineering Research Council (NSERC).

Tiger Resources Reaches Safety Milestone

Tiger Resources Ltd. has reached 2 million man-hours without a single injury at its Kipoi copper project in the remote Democratic Republic of Congo. Managing Director Brad Marwood said the number reflected a significant accomplishment amid rates elsewhere in the mining industry and is testament to a culture promoting safety and best practices.

Timken Acquires Standard Machine

The Timken Co. further expanded its industrial services capabilities with the acquisition of the Standard Machine business based in Saskatoon, Saskatchewan, Canada. Standard Machine provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining, and field technical services to end-users in Canada and the western United States.

Huge Landslide Halts Ore Production at Rio Tinto’s Bingham Canyon Mine

Operations at Rio Tinto’s flagship copper mine, the Kennecott Utah Copper Bingham Canyon complex near Salt Lake City, Utah, USA, have been severely curtailed by a massive pit-wall failure that occurred April 10. Latest estimates from the company indicate the slide, which took place in the northeast corner of the pit, involved at least 150 million tons of material and filled the bottom of the pit to a depth of 300 ft (91 m) in some areas. The landslide was described by KUC’s president and CEO, Kelly Sanders, as one of the largest in mining history.

Glencore, Xstrata Merger Set Following Approval

Glencore International announced on April 16, 2013, that the Ministry of Commerce of the People’s Republic of China had approved the merger of Glencore and Xstrata, originally proposed in February 2012. Regulatory approval from China was the last obstacle standing in the way of the merger, and with the approval in hand, Glencore said it expected the merger to become effective May 1, 2013, with Xstrata shares to be delisted on May 2 and “New Glencore” shares to begin trading May 3.

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