Algae and mining: A new frontier in sustainable site rehabilitation

Algae might seem an unlikely candidate to help transform Australia’s post-mining landscapes, but a new CSIRO -led project suggests these tiny aquatic organisms could provide sustainable futures for mine sites, surrounding ecosystems, and local communities. Looking down the microscope at the microalgae Nannochloropsis Australia’s mining sector is approaching a crossroads—where economic legacy and environmental responsibility must find common ground. A new CSIRO -led study, supported by the Cooperative Research Centre for Transformations in Mining Economies (CRC TiME), suggests that one of the most promising bridges between these imperatives may come from an unexpected source: algae. Though small in stature, algae are emerging as giants in their potential to transform post-mining landscapes. The study, developed in partnership with the University of Queensland and Murdoch University , proposes that algae-based technologies could reduce mining’s environmental footprint while seeding new...

Oxus Gold raises $185 million from Chinese consortium for Uzbekistan's Amantaytau Goldfields

Central Asia-focused gold miner Oxus Gold Plchas reported it has signed a $185 million financing deal with a group of Chinese investors, which includes the sale of a majority stake in the company, to fund develop at its Amantaytau Goldfields joint venture in Uzbekistan.

The company said it expected the proceeds to enable its 50% owned Amantaytau Goldfields to target first production at the underground sulphide project for the middle of 2011 and thereafter expand annual production to about 300,000 ounces.

Oxus Gold will raise $85 million through issue of shares and convertible loan notes to the Chinese investors, including China's third-largest zinc producer Baiyin Nonferrous Group Co Ltd and state-owned CITIC.

The company said it will additionally grant warrants for about $20 million in return for an undertaking to arrange a further minimum of $80 million in project finance. It may also raise an additional $6.37 million)through a sale of shares to institutional investors.