Redar Iron identifies DSO iron ore targets at Jackson and Boondine projects

It is reported that Radar Iron is about to ramp up news flow across several of the company's projects.

The latest positive news is that iron ore targets have been identified from an aeromagnetic survey which includes an additional 20 kilometres of magnetic responses.

The survey was over the Die Hardy, Boondine and Jackson projects which are located in the Southern Cross district of Western Australia which comprised 8,300 flight line kilometres.

The outcome is that several areas of direct shipping ore mineralisation have been defined at the Jackson and Boondine projects.

At Die Hardy which is the initial main magnetite target for Radar the data highlighted new untested magnetic units to the north and north west of the existing drilling indicating a combined strike length of 4 kilometres.

Magnetic modeling for all the recently acquired data is currently underway, with ground reconnaissance of potential anomalies kicking off this month, and following drilling approval, drill testing is expected to commence in early 2012 at the high priority targets.

In total Radar holds around 1200 square kilometres of tenements in the Yilgarn Iron Ore Province, with 120 kilometres of banded iron formations which are largely unexplored for iron ore.

Mr Jon Lea MD of Radar told Proactive Investors today that a 3000 metre reverse circulation drilling program will kick off next month at the Johnston Range project.

The project is significant for Radar with around 20 direct shipping ore targets having already been identified, which Lea said have the potential to host 2Mt to 5Mt hematite deposits in pods.

Johnston Range hosts 40 linear kilometres of banded iron formation, and has the potential to deliver a JORC Resource in the short term.

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Queensland Galilee Basin could generate 6000 jobs

It is reported that a new coalmine in central Queensland Galilee Basin could generate 6000 jobs during construction and 1500 places during the mine life.

More details on Waratah Coal USD 8.3 billion Galilee Coal project became available recently when the company released its environmental impact statement. The project involves a series of new thermal coalmines near Alpha, west of Emerald a 468 kilometer railway from the mine to the coast and a port at Abbot Point, north of Bowen.

Mr Rachel Nolan acting Development Minister said ''If the Galilee Coal project proceeds, it could generate around 6000 jobs during construction and 1500 jobs during the operational life of the mine which is expected to exceed 25 years.”

Mr Keith Davies Co-ordinator-general said community concerns about the impact of the railway would be looked at along with formal submissions when considering the project.

Premier Ms Anna Bligh said the project presented another big leap forward for Queensland's economy, provided the company met all environmental impact requirements. She said ''The Galilee Basin is a very rich coal seam. If it can be developed appropriately, then it means jobs, prosperity and growth, and a very bright future for our state.”

The project impact statement will be available for public comment until November 7. The proposed port at Abbot Point will be subject to a separate approval process.

(Sourced from www.brisbanetimes.com.au)

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Zimbabwe deadline for foreign firms looms

It is reported that foreign companies operating in Zimbabwe had until Sunday to hand in plans to sell majority stakes to local blacks under a law that has alarmed investors who are uncertain how the rules will work.

The government order for the transfer of 51% ownership has been called the final phase of economic emancipation after controversial land reforms targeting white owned farms a decade ago. But analysts are skeptical.

Mr Anthony Hawkins a University of Zimbabwe economics professor said "There is no way the local and the government has the money to buy shares in the companies. Everybody knows that."

He said that the indigenization drive could hurt the economy in the same way as the land reforms which sparked an economic nose-dive after supporters of President Mr Robert Mugabe violently seized white-owned farms.

Mr Hawkins about polls expected next year said "My concern is that this is much more of a political policy and it will have an economic harm just like the land reforms. It looks like they are doing this for the elections."

He said that "This will reduce the amount of investment in the country as the new owners will not have the money to, for example, expand projects. The community does not have the money, as well as the workers and the government is broke."

The push is without the violence of the land seizures which Mr Mugabe said was a way to correct colonial-era wrongs, but there is mixed signals on how the law will be implemented.

Mr Saviour Kasukuwere Indigenization Minister has warned that non-compliant companies risk nationalization. But certain firms have arranged their own deals and deadlines ahead of Sunday cut-off date making the government appear flexible on how the law is implemented.

(Sourced from AFP)

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Mongolia high plains herders warily eye coal truck road

Reuters reported that a lone cement ribbon bisecting hundreds of miles of shale and scrub on the high plains of Mongolia Gobi Desert may be a talisman or curse for nomadic herders that trace their lineage to the empire of Mr Ghengis Khan.

Carved into the Gobi by the Hong Kong listed Mongolian Mining Corporation the 147 mile and two lane roads is due to open next month, allowing the company to speed up cargoes of coal to China from its expanding Ukhaa Khudag mine.

The freshly paved highway is one of the first glimpses of a mining boom that will transform Mongolia fortunes. But many including President Mr Tsakhia Elbegdorj are worried that mining has already put the country fragile pastoral economy under strain and left a million nomads behind.

Mr Puntsag Tsagaan president senior adviser said "Hundreds of rivers, streams and lakes have disappeared because of deforestation, climate change and also partly because of irresponsible mining."

He said that "Our challenge is how to diversify our economy. I don't want my children and my grandchildren to live in a different country called Minegolia it has to be Mongolia. Therefore we have to manage the mineral wealth in a better way."

The road will remove a major logistical hurdle for MMC.

Mr Adilbish Gankhuyag MMC's chief financial officer said "We will start using it next month and it will have a total throughput capacity of about 18 million tonnes per annum this year our total production will be 7 million tonnes so we no longer have logistics and transportation problems."

Mr Shurka Baigalmaa MMC's onsite manager at Ukhaa Khudag said it is also a key part of the company commitment to protect the region's ecosystem which has been damaged by hundreds of overloaded coal trucks churning up grazing land.

MMC is also committed to using the parched region water supplies efficiently with Baigalmaa saying that 95% of water used at the mine washing plant would be recycled.

The open-cast mine is already 70 metres deep and will eventually descend 300 metres but she said the company would limit the impact by refilling exhausted seams using peat excavated from new mining areas further west.

(Sourced from Reuters)

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Avonlea Minerals appoint Non Executive Chairman

Avonlea has appointed Mr David Macoboy as Non Executive Chairman effective immediately.

Mr Macoboy brings to the Board a wealth of experience across a range of industries especially in the areas of corporate strategy, finance, project evaluation and development, and management. Mr Macoboy has over 20 years in the resources sector joining Avonlea following roles at Board level with a range of successful ASX listed exploration and mining companies.

Mr David is currently Non-Executive Chairman of Vital Metals Limited, and has held previous Directorships with Ammtec Ltd, Ironclad Mining Limited, Grange Resources Limited, Territory Iron Limited and Consolidated Minerals Limited.

Mr Macoboy holds a Bachelor of Economics and a Bachelor of Commerce from the University of WA. David is a Fellow of the Australian Institute of Company Directors and a Certified Practicing Accountant.

Mr David Riekie Avonlea Managing Director said "We welcome Mr Macoboy as a valuable addition to the Avonlea Board. His extensive corporate and resources experience provides a complementary skill set to the existing Board. Mr Macoboy joins the Company at a pivotal time in the Company's growth as we continue to develop our portfolio of projects in Namibia, and will assist to drive our corporate agenda to realize the full potential of our asset base."

Mr Roger Steinepreis will as a consequence step down as Chairman, but will remain a Non-Executive Director of the Company. The Board thanks Roger for his significant contribution to the Company in his capacity as Chairman since listing on the ASX in 2007.

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