Rio Tinto has taken a majority stake in Ivanhoe Mines Ltd., having purchased shares that take its interest to 51%. Rio Tinto Chief Executive Copper Andrew Harding, said, “Rio Tinto’s move to a majority stake in Ivanhoe further demonstrates our commitment to the safe and successful development of the Oyu Tolgoi mine for the benefit of all stakeholders. We are approaching a very important phase in the development of the Oyu Tolgoi mine, with 70% of the construction now complete. The lead-up to first ore in the second half of 2012 will mark an important milestone in the path toward commercial production of copper concentrate, slated for the first half of 2013.”

North American Palladium announced in mid-January 2012 that it is discontinuing production at its Sleeping Giant gold mine, located 80 km north of Amos in the Abitibi region of Quebec. However, the Sleeping Giant mill will continue to operate to process ore trucked approximately 85 km from the company’s new Vezza gold mine. The mill began processing a bulk sample of Vezza ore in January.

On January 31, it was 150 years to the day since Göran Fredrik Göransson’s new company was formed in Sandviken, Sweden. At that time, Sandvik was first in the world to use the Bessemer process, which would revolutionize steel manufacturing.

Rio Tinto recently released an update on its mining operations, detailing some remarkable figures for a year that did not start too well for many of its mines. “This was another record-breaking year in the Pilbara, with both quarterly and full year iron ore production and shipments beating previous achievements, as our expansion program continues apace,” said Rio Tinto Chief Executive Tom Albanese. “Across the Group, production has bounced back from the severe weather conditions experienced in the first half which had the biggest impact on Australian iron ore, coal and uranium.”

Kinross Gold expects 2012 to be a good year. Gold production should increase with the planned acceleration of Fort Knox heap leach capacity, expected full-year operation of the third ball mill at Paracatu, and increased production at Tasiast.