Assay results have confirmed the discovery of a high grade base metals deposit at Lincoln Minerals’ Minbrie exploration licence near Cowell on the east coast of South Australia’s Eyre Peninsula.
Results from a December 2011 drill program at Australian Bauxite’s Mt Rae project near Taralga in southern New South Wales has confirmed the thickest ever intersection of high grade bauxite in the country. Most Australian bauxite deposits are less than 4 metres thick, however one hole at the project near Goulburn has intersected a 28 metre width of premium grade bauxite. Other holes showed intersections ranging from 3 to 13 metres wide.
Blackgold International Holdings is pursuing the acquisition of a Chinese transportation company which operates on the Yangtze River. The sale has been agreed for a purchase price of RMB155 million payable by December 31, 2012. 
China Shen Zhou Mining and Resources’ subsidiary Xiangzhen Mining will spend almost US$2.4 million to acquire 60% ownership of two Chinese mining companies. Qianshi Reources Development and Meilan Mining have signed equity transfer agreements for the takeover.