Argentine court upholds glacier law in mining area

BUENOS AIRES – Argentina's Supreme Court ruled on Tuesday that key articles of a glacier protection law should apply in a northern province where Barrick Gold, the world's largest gold miner, is building a huge mine high in the Andes.artificial stone crushing equipment
Tuesday's ruling scraps a 2010 decision by a federal judge in San Juan province, who suspended the application of six articles of the law after a complaint by mining industry groups.
"The Supreme Court revokes the precautionary measures that suspended the application of the glacier law in the province of San Juan," the official judicial news agency said.
San Juan province is home to Barrick's Veladero mine, cement crushing equipment for salewhich is at an altitude of more than 4, 00 m not far from the company's huge Pascua Lama project. Pascua Lama is a roughly $5 billion gold-silver mine that st r addles the border with Chile and is s et to enter production in 2013.
When the law passed Congress two years ago, mining industry analysts warned that it could hinder construction of Pascua Lama, but Barrick has said that it does not operate on glaciers and that it complies with all environmental regulations.
"We are in the process of evaluating the text of the decision. However, it is important to point out that our activities do not take place on glaciers," said Rodrigo Jimenez, Barrick's VP for corporate affairs in South America. "We believe we are legally entitled to continue our current activities on the basis of existing approvals."concrete crushing equipment suppliers
"The federal legislation also draws a distinction between new projects and those already underway. Our Veladero mine has been in operation since 2005 and construction at Pascua Lama has been underway since 2009," he said.
The law, which bans mining and oil drilling on glaciers and the surrounding areas, is designed to preserve water reserves.
President Cristina Fernandez vetoed a similar law in 2008 on the grounds that it would hamper provincial economies, and caused controversy in a country where anti-mining sentiment is strong.
Compared with neighboring Chile or Peru, Argentina's mining industry is relatively undeveloped. This has drawn interest from global companies and overall investment reached a record $2.6-billion in 2011.

Xstrata to develop south decline at Helena mine

stone crusherJOHANNESBURG (miningweekly.com) – Diversified miner Xstrata Alloys was progressing the ramp-up of its Helena chrome mine, in Mpumalanga, with the development of a south decline underground, the company said.
Joint venture partners Xstrata Alloys and Merafe Resources issued a tender focusing on the development of three subdeclines south and four strike ends north, to open up the two blocks of ground currently situated between geological structures.mining equipment application
The proposed 12-month contract would create additional reserves for a successful ramp-up to 100 000 t/m, from the mine’s current 75 000 t/m production.
gravel stone crushing lineXstrata’s Helena chrome mine is located south of its Thorncliffe chrome mine on the eastern limb of the Bushveld complex.

Gold Fields’ KDC West still closed, injured discharged from hospital

crushed stone production lineJOHANNESBURG (miningweekly.com) – JSE-listed Goldfields on Wednesday reported that its KDC West Ya-Rona shaft, remained closed, as proto teams continued to extinguish the fire 2 800 m below the ground.
The fire, which resulted in the deaths of five employees last weekend, was contained in a worked-out area between 38 and 39 levels,gold panning equipment but Gold Fields corporate affairs manager Sven Lunsche told Mining Weekly Online it could be a few days before it is successfully doused.
KDC West remained closed under a Section-54 order, while KDC East was reopened Tuesday night.
The remaining 11 employees admitted to hospital for observation have been released. Three others were discharged earlier in the week.
The cause of the fire was still under investigation, and Gold Fields declined to comment on possible causes of the fire.
quarry crushing equipmentThe KDC West mine, which employed over 26 000 workers, produced a total of 249 700 oz for the three months ended March.

Avion Gold to resume mill expansion, shares up

JOHANNESBURG - West Africa-focussed gold miner Avion Gold Corp said it expects to resume expansion at its Tabakoto mine in Mali and raised its production forecast for the year, sending the company's shares up as much as 12%.metal processing plant
Avion said Mali's political situation has stabilised and it expects mill expansion at Tabakoto to resume by early next year.
The market was concerned if the company could continue to operate in Mali, given the political turmoil there, analyst Barry Allan of Mackie Research Capital said.
aggregate crushing and screening plantAvion, which holds 80% of the Tabakoto and Segala gold projects in Mali said it now expects to produce between 95 000 oz and 102 000 oz of gold for 2012.
In May, Avion had forecast production of 90 000 oz to 100 000 oz of gold, after halting mill expansion plans at Tabakoto due to a military coup in the country.
Shares of Avion Gold, which have fallen 74 percent over the last six months, touched a high of 50 Canadian cents in early trade on the Toronto Stock Exchange on Wednesday. They were trading up 10 percent at 49 Canadian cents. ore mining machine

Global mining drives 45%-plus of world GDP – Cutifani

JOHANNESBURG (miningweekly.com) – The global mining industry drives more than 45% of the world’s gross domestic product (GDP), either on a direct basis or through the use of products that facilitate other industries, says AngloGold Ashanti CEO Mark Cutifani.
Cutifani, who addressed this week’s Mining for Change conference, calculates that mining product revenue contributes 11.5% to global GDP; mining service industries a further 21% to 23% and fertilisers for agriculture, fuel for transport and materials for construction then take mining’s combined direct and indirect contribution beyond 45%. ball mill knowledge
The world would need to dedicate twice the amount of land to agricultural activities, which currently already occupy 40% of the earth’s surface, were it not for mining’s contribution to agricultural productivity.
Yet considerably less than 1% of the earth’s surface is dedicated to mining, which consumes less than 1% of the world’s water – and mined products also help to purify much of that water.
Furthermore, mining emits less than 3% of the world’s carbon gases.
“Mining’s the most important industrial activity in the world today and has one of the smallest environmental impact across the globe, which many people don’t appreciate.
maintenance of spring cone crusher “Instead of calling us the extractive industry I would like us to become known as the development industry,” Cutifani says, pointing out that 40% of the capital that AngloGold Ashanti is putting in place right now to develop its new Mongbwalu gold mine in the Democratic Republic of Congo is dedicated to infrastructure.
In addition to creating employment opportunities for the near-mine Mongbwalu community, the company is putting in place transportation, commercial and energy infrastructure that will enable local farmers to produce more and also to start transporting it to market.
“If we can get it right and benefit 80% of the people in that community instead of only maybe 3% who are given jobs, then the conversation around the mining industry will change and when people hear the word mining, they will think about development, jobs and social infrastructure. That’s the vision we have for our mining industry,” he adds.
By coordinating the involvements of developmental finance institutions, governments and mines, a strategy can be adopted for Africa that will be no different to the way pioneering industries helped to open up North America, South America, Europe and Russia.
Further, as the now-returned Chamber of Mines of South Africa senior executive Roger Baxter has often pointed out, the modern world would not have smart phones, wind turbines, toothpaste without mined minerals. coal mining in india
While minerals like oil, gas, coal and uranium energise the modern world, voguish gadgets are unable to function without copper, silver, gold, palladium, platinum, ceramics, titanium dioxide and lesser-known tongue-twisters like indium tin oxide.
The average car contains a ton of iron and steel, 100 kg of aluminium and 19 kg of copper and the more environment friendly hybrid vehicle requires double the copper, roughly 34 kg.
A 2 MW wind turbine contains some 300 t of steel, 5 t of copper, 3 t of aluminium and requires the casting of about 1 200 t of concrete, the cement for which requires limestone that is mined and stone that is quarried.
Replacing a single 3 000 MW coal-fired power station – which is half the size of South Africa’s many six-pack stations –15 000 MW of wind turbine capacity needs to be provided, which would require the equivalent a 2 MW wind turbine being sited every 240 m between Durban and Cape Town.
The modern compact energy-efficient fluorescent light bulb needs bauxite, lead, copper, limestone, nickel and phosphorous; toothpaste contains silica, limestone, aluminium, phosphate, fluoride and titanium; and women’s make-up mica and talc.
The minerals in greatest demand globally are coal, copper and iron-ore.

The Hazards of Coal Mining in India

NORTH KARANPURA, India – Digging up more coal has become a national priority for India as it tries to meet its electricity needs. But for the people who do it, like the miners in this hilly region of India’s eastern Jharkhand state, it’s a dangerous and potentially lethal assignment.dry washer
The coalfields here are run by Central Coalfields Ltd., a subsidiary of Indian state-run giant Coal India Ltd. The several thousand miners here must contend with air filled with coal dust. Some say they have developed asthma and other respiratory problems. Others say the environment exacerbates existing health conditions.
Jugal Munda, a 30-year-old who already suffers from tuberculosis, would prefer not to be breathing in ash on a daily basis, but says he has no choice because he has a family of three to support. Mr. Munda earns around $500 a month helping to load coal into dump trucks. “I have to keep working until I die, and hopefully my wife will then get a job on compensatory grounds,” he says. screw feeder
Ajay Pal, 50 years old, has a similar job and says he suffers from asthma. He has a family of five to support and works in area mines. He says he feels like he is “dying a slow death.”
Workers say they also suffer from serious eye problems because of coal dust.
The main reason for all these ailments, according to S.N. Sahadev, a senior worker at the coalfields, is that Coal India and its contractors aren’t following protocols. “After coal is taken out from the open cast mines, water should be sprayed to prevent flying of coal dust,” he says, and trucks are to be covered with tarpaulin sheets. Those rules aren’t followed, he said.
The general manager of the Central Coalfields mines, B.R. Reddy, declined to comment.
Etwaria Oran, a worker at the mines, complains that there aren’t proper medical facilities available in the makeshift hospitals operated at the project by Central Coalfields. A doctor on Central Coalfields’ staff, who declined to be named, acknowledged that the medical facilities are far from satisfactory. Lack of equipment and medicines are preventing proper treatment, he said.magnetic separator
There’s another danger lurking here at the North Karanpura mines: the threat from Maoist militants who are fighting against major industrial and mining projects that they allege are stealing wealth from native tribal populations. They are part of a movement in several Indian states.
The drive to North Karanpura from Ranchi, Jharkhand’s state capital, is perilous, as armed Maoists have camps in the dense forests on both sides of the highway. On a recent visit, the driver refused to stop the car to allow a bathroom break, saying, “It is too risky and one can be kidnapped.”
Maoists have carried out attacks on mines in the region, setting trucks and bulldozers ablaze and threatening the lives of workers. They call general strikes, forcing mines to shut down. Last year alone, the mines here shut down five times. They extort contractors for money to guarantee their safety. Workers say they constantly feel under siege.
mobile combined crusher “We have to bear the brunt as we stay here and get no protection from the police,” said Sonu Pandey, a local subcontractor whose workers do odd-jobs like loading coal into trucks.
Sunil Singh, a coal trader from Ranchi who visits North Karanpura regularly, said big contractors can afford to buy protection by paying off the Maoists, but small contractors can’t.
Coal India officials say these types of problems help explain why India is lagging far behind in coal production compared to its surging energy demand.
“Imagine a scenario where industry in India comes to a standstill because of coal shortage,” said one Coal India engineer, who declined to be named. “There will be a shortage of at least 200 million tons in 2013-14 unless the country goes for heavy imports.”

Indian miner is on track with coal rail line

INDIAN miner Adani has moved to make sure it can export coal from the Galilee Basin area by early 2016 by upgrading its arrangement with coal carrier QR National for a rail corridor from a memorandum of understanding to a feasibility study.

The Queensland government last month approved further work on two proposed railway corridors from the Galilee Basin -- one directly to the coal port of Abbot Point along a route proposed by fellow Indian coalmining company GVK, and the Adani plan for a smaller track to be built to connect with QR National's existing railway infrastructure in the Bowen Basin.iron ore crusher for sale
While successive Queensland governments have envisaged that the route along what is now the GVK proposal will carry most of the coal out of the Bowen Basin to port, there is now doubt about how quickly such a line -- which involves 500km of new railway track -- would be ready.
Adani needs to transport coal out of Australia and back to India by early 2016 to feed power stations they run there.
gypsum crusher for saleThe Adani proposal is considerably less ambitious than GVK's, involving the construction of about 180km of line running due east from the Galilee Basin to QR National's existing railway lines in the Bowen Basin.
Adani chairman Gautam Adani and QR National managing director Lance Hockridge said yesterday that preliminary work between the two companies under a Memorandum of Understanding would now move into the feasibility stage.
The study will assess rail infrastructure and haulage services for 60-80 million tonnes of thermal coal a year from Adani's proposed Carmichael Mine to the Abbot Point Coal Terminal and possibly the future Dudgeon Point coal terminal near Dalrymple Bay.
"Through preliminary work we've been doing with Adani, it became clear there was an alignment of interests in developing an integrated rail solution for their Carmichael mine," Mr Hockridge said. coal mining in india
As well as securing a large coal tenement in the Galilee Basin, Adani has also been active in infrastructure, buying Abbot Point for $1.83 billion as part of the privatisation program undertaken by the Queensland government. It is also trying to establish a new coal port at Dudgeon Point, just north of Dalrymple Bay in Mackay.
One of the main reasons for a "greenfield" track directly to Abbot Point is that it would be standard gauge instead of the narrow gauge generally used in Queensland, so it would be able to accommodate larger trains that could carry up to 20,000 tonnes of coal, as opposed to current levels of 10-12,000 tonnes.
But QR National is confident that even with the narrow gauge lines that this proposal would use, they will still be able to carry loads of about 20,000 tonnes on its tracks.

Eight miners issued notice for Rs 350 cr royalty dues

Deputy Director of Mines (DDM) for Joda mining circle has issued notices to eight iron and manganese mines for payment of royalty dues amounting to Rs 350 crore on the basis of updated ore prices issues by Indian Bureau of Mines (IBM).talc crusher for sale
The notices for differential royalty collection were sent to Joda East Iron Ore mines (Rs 90.19 crore), Nua Gaon mines of KJS Ahluwalia group (Rs 3.32 crore), K N Ram mines (Rs 10.13 crore), Mesco mines (Rs 12.41 crore), R P Sao Guali mine (Rs 93.59 crore), Jajang mine of Rungta Group (Rs 60.66 crore), Ziling mine of Essel Mining (Rs 25.21 crore), and Kashia mine, also of Essel Mining (Rs 23.52 crore).
As per current practices, mining companies pay royalty at the time of applying permission to raise mineral, based on prevailing mineral rates. However, since IBM fixes royalty charges for a particular month retrospectively, gold ore crusher for salemining circles collect the differential royalty later in case of increase in prices or adjust with next month payment in case of price fall.
Since 2009, miners have been paying royalty at 10 per cent of selling price in case of iron ore. Before that, there was a fixed rate of Rs 27 per tonne.
"Ever since the new royalty formula has come into place, we are charging royalty in advance from the miners. And four months later, when IBM updates royalty charges retrospectively, we collect the differential amount, thereby putting extra burden on our staff”, Narayan Jena, the Joda DDM said.
The recent royalty collection order has been issued for the month of March, he added.
feldspar crusher for saleIron ore prices had gone up by more than seven per cent in March-April period on better international demand, but have been falling since then reacting to lower exports caused by higher export duty. In the upcoming July-September quarter, miners are expecting a price fall of 8 to 10 per cent, industry sources said.
Joda mining circle contributes the most to state exchequer in terms of mining revenue. In 2011-12, it contributed Rs 2,184 crore out of total collection of Rs 4,517 crore, mostly from iron ore and manganese exploration. Joda is the largest mining circle in terms of iron ore production in the country, with more than 40 million tonne annual output.

Gold and bauxite help 1st quarter GDP growth

According to the Ghana Statistical Service, the total value of goods and services produced in Ghana grew by 8.7% in the first quarter of 2012, relative to that of 2011.

A newsletter from the GSS shows that the Industry sector was the main reason for this growth.gold panning equipment

Gold and bauxite production led the Mining and Quarrying sub sector to grow by almost half. And with help from other sub sectors such as manufacturing and construction, Industry sector production rose by 22% relative to the first quarter of 2011.

The Agricultural sector did not fare as well as the Industry sector. Relative to last year's first quarter, agric fell by 3%. And compared to the fourth quarter of 2011, agric production in the first quarter of 2012 fell by more than half the value in the fourth quarter of 2011.

aggregate equipment for sale Experts attribute the poor showing of agric relative to the last quarter of 2011 on the seasonality of the agric sector, with land preparation normally done in the first two quarters.

Trends from the GSS newsletter show that the first and second quarter yielded the lowest gains in agriculture yearly.

According to the CIA's fact sheet on Ghana, agric employs over half of Ghana's labour force, but it contributes to less than 30% of Ghana's GDP.

Although the Producer Price Index - the measure of the average change over time in prices received by domestic producers for the production for their commodities - increased to 18% in May 2012, agriculture sector workers might not readily benefit from this increase.hardness of minerals

The losses in the agric sector coupled with the increase in the cost of production (PPI) should lead to an increase in food prices. But this will not necessarily lead to increased financial gains for agric workers.

First Uranium announces financial results for the three and twelve months ended March 31, 2012-3

Ezulwini Mine

coal mining in indiaThe Ezulwini Mine generated $13 million in proceeds during Q4 2012 (Q4 2011: $12 million) from 8,068 ounces of gold sold (Q4 2011: 11,393 ounces) at a Cash Cost of $2,218 per ounce (Q4 2011: $2,227). The Ezulwini Mine also sold 23,675 pounds of uranium during Q4 2012, generating $1 million in proceeds in Q4 2012. No uranium was sold in Q4 2011.

Notwithstanding the restructured operation at the Ezulwini Mine, and the reduction in the required delivery of gold to FN to 7% of gold production, the turnaround in operations at Ezulwini had not yet realized the expected results. While the quantity and grade of the blasted tonnes was substantially in-line with the new operating plan, the mine was unable to meet its tonnage targets, due mainly to a number of tramming constraints, including a fall of ground on one of the major ore transfer levels. As a result, the operation continued to lose money in Q4 2012 and consume cash at a greater rate than planned.

As a consequence, tonnage throughout fell 40% in Q4 2012 compared to Q4 2011. This was offset by improved gold recovery grades, resulting in a 29% decline in gold ounces sold in Q4 2012, compared to Q4 2011. Consequently the proceeds from gold ounces sold also decreased, although at lower rates, primarily due to the higher gold price over the comparative period.

metal processing plant In order to address these issues, mine management are in the process of implementing a detailed action plan, which includes clearing the fall of ground, correcting the trackless section operating conditions and addressing the mechanical condition of the trackless equipment on the level.

Going forward, the current mine plan is targeting a gold output of approximately 50,000 ounces for FY 2013 from an average monthly production of 44,000 tonnes. Despite the uranium sections of the mine having been closed and the uranium plant put onto care and maintenance, the Ezulwini Mine will realize revenue from uranium sales in Q1 2013 related to the sale of the 25,000 pounds of uranium carried over from uranium production in FY 2012, prior to halting the uranium mining operations. As at the end of Q1 2013, Ezulwini Mine is beginning to see the results of the restructuring process that was begun in December 2011, with gold sold in Q1 2013 in excess of 9,500 ounces. Cash costs are in line with budget and, assuming production ramps up to the expected levels, Ezulwini is well placed to begin breaking even by the end of Q2 2013.

OUTLOOK

As discussed under the Recent Developments section of this news release, the Corporation expects to conclude and implement the AGA Transaction by July 24, 2012, following which the Gold One Transaction is expected to be concluded by July 31, 2012.

On the implementation of the AGA Transaction, BNY and GMG, the Indenture Trustees for the Canadian Notes and the Rand Notes, respectively, will be paid the respective principal amounts owing to the Canadian and Rand Note holders and the Gold One Loan will also be repaid.

The Board will determine an amount for an initial distribution to shareholders, aggregate crushing and screening plantfollowing completion of both the AGA Transaction and the Gold One Transaction, and the repayment of all current obligations to the Debenture holders, settlement of all outstanding obligations to the Note holders and reserving an amount for any continuing and contingent obligations. Following release of the escrow funds held for claims under the AGA Agreement and the Gold One Agreement, the settlement of all remaining obligations to the Debenture holders and the establishment of a reserve for any continuing and contingent obligations, the Board will determine an additional amount to be distributed to the shareholders. The Corporation may then proceed to be wound up and dissolved. However the Board has not made any decisions with respect to the windup and dissolution at this time.

*Cash Costs are costs directly related to the physical activities of producing gold and uranium and include mining, processing and other plant costs; third-party refining and smelting costs; marketing expense, on-site general and administrative costs; royalties; on-mine drilling expenditures that are related to production and other direct costs. Sales of by-product metals such as uranium and silver are deducted from the above in computing cash costs. Cash costs exclude depreciation, depletion and amortization, corporate general and administrative expense, exploration, interest, and pre-feasibility costs and accruals for mine reclamation. Cash costs are calculated and presented using the "Gold Institute Production Cost Standard" applied consistently for all periods presented. The Gold Institute was a non-profit industry association comprised of leading gold producers, refiners, bullion suppliers and manufacturers. This institute has now been incorporated into the National Mining Association. The guidance was first issued in 1996 and revised in November 1999. Total cash costs per ounce is a non-IFRS measurement and investors are cautioned not to place undue reliance on it and are advised to read all IFRS accounting disclosures presented in the Corporation's Financial Statements.

About First Uranium Corporation

First Uranium Corporation (TSX:FIU, JSE:FUM) is a Canadian resource company which operates the Ezulwini mine, an underground gold and uranium operation and Mine Waste Solutions (MWS), a tailings recovery facility. Both operations are situated in South Africa.

Cautionary Language Regarding Forward-Looking Information

This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward-looking statements (or forward-looking information). The Corporation's plans involve various estimates and assumptions and its business and operations are subject to various risks and uncertainties. For more details on these estimates, assumptions, crushed stone production linerisks and uncertainties, see the Corporation's most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian provincial securities regulatory authorities on SEDAR . These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements, including without limitation, the statements regarding the proposed transactions with Gold One International Limited and AngloGold Ashanti Limited. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

First Uranium announces financial results for the three and twelve months ended March 31, 2012-2

Despite an intensive change management process implemented in Q1 2012, the anticipated improvements at Ezulwini Mine were not forthcoming and at the end of Q3 2012, a restructuring of Ezulwini Mine was announced that resulted in approximately 50% of the workforce being retrenched by the end of Q4 2012. ore mining machine

One of the very few highlights of the year for Ezulwini Mine occurred at the end of Q3 2012 with the settlement of the final quarterly guaranteed ounces requirement to Franco-Nevada pursuant to the Ezulwini Gold Stream Transaction (effectively 64% of the gold sold during Q3 2012 at $400 per ounce of gold). As of January 2012, the mine reverted to delivering only 7% of its gold production to Franco-Nevada at $400 per ounce of gold.

Ezulwini produced and sold 47,442 (FY 2011: 59,689) ounces of gold generating $63 million (FY 2011: $61 million) in revenue at an average Cash Cost* of $2,155 (FY 2011: $1,605) per ounce of gold. As a result of lower than anticipated gold production, combined with a 34% increase in the average Cash Cost per ounce of gold sold, the mine's gross losses in FY 2012 ($48 million) were up 4% compared to FY 2011 ($46 million). crusher parts and consumables Revenue from uranium sold increased dramatically, from $1 million in FY 2011 to $5 million in FY 2012 following the successful re-commissioning of the Ezulwini Uranium plant in April 2011 after a hiatus of 8 months following the failure of two Ion Exchange ("IX") columns in August 2010. The mine sold 82,862 pounds of uranium in FY 2012, which was in line with the revised forecast of 82,000 pounds.

During FY 2012, First Uranium utilized $16 million (FY 2011: $50 million) of its cash resources to fund its operating activities. The Corporation spent $29 million (FY 2011: 102 million) on capital projects in FY 2012 comprising mainly the closing out of construction and successful commissioning of MWS's third gold plant module, including adjoining infrastructure ("Phase 2") and its new tailings storage facility ("TSF").

As at March 31, 2012, current assets, including current assets from discontinued operations, were $22 million (March 31, 2011: $73 million) and included cash and cash equivalents of $7 million (March 31, 2011: $50 million). The Corporation's current assets, excluding current assets from discontinued operations, were $4 million as at March 31, 2012 and included cash equivalents of $4 million.

SALE OF ASSETS

On June 13, 2012, First Uranium shareholders, Note holders and Debenture holders voted overwhelmingly in favour of the disposal of the Ezulwini Mine and MWS to Gold One and AGA, for a consideration of $70 million and $335 million, respectively. Gold One also provided a loan facility to the Corporation for an amount of up to $10 million, which has been fully drawn subsequent to year-end. The background to these transactions and developments is detailed in the Management Information Circular for the Special Meeting of Shareholders, dated May 4, 2012 (filed on SEDAR onMay 8, 2012). ball mill knowledge

The proceeds from the sale of First Uranium's principal assets will enable it to settle the Debentures, the Notes and the Gold One Loan Facility under the terms agreed to with the Debenture holders, Note holders and Gold One on June 13, 2012.

FOURTH QUARTER ENDED MARCH 31, 2012

The consolidated revenue from First Uranium's two operations for the three months ended March 31, 2012 ("Q4 2012") was $48 million, compared to $37 million for the three months ended March 31, 2011 ("Q4 2011"), which is a 31% improvement quarter-on-quarter. A 433% rise in gross profits from the operations led to a gross profit of $9 million for Q4 2012 compared to from a loss of $3 million in Q4 2011 and a consolidated pre-tax profit for Q4 2012 of $23 millioncompared to the pre-tax loss in the comparative period (Q4 2011: $80 million).

During Q4 2012, the Corporation utilized $10 million (Q4 2011: $20 million) of cash resources in its operating activities. Capital expenditure was minimal (Q4 2011: $12 million), reflecting the close out of the capital projects at MWS.

Mine Waste Solutions

During Q4 2012, MWS generated $34 million in proceeds (Q4 2011: $25 million) from 24,862 ounces of gold sold (Q4 2011: 22,150 ounces) at a Cash Cost of $790 per ounce (Q4 2011: $553 per ounce). The tonnage throughput increased by 37% from Q4 2011 to Q4 2012, as a result of the additional plant module that came into production during FY 2012. maintenance of spring cone crusher This was offset by a 16% drop in the average gold recovery grade which limited gold production during Q4 2012 to an increase of only 12% in gold ounces sold compared to Q4 2011. This, combined with the increase in average gold selling price, resulted in a 35% increase in revenues in Q4 2012 compared to Q4 2011.

The 61% increases in Cash Costs in Q4 2012 were driven by the high unit cost of operating the Hartebeesfontein No. 7 satellite dam (including trucking) as well as additional power and water costs associated with operating the new TSF and a substantial increase in certain key reagent costs in Q4 2012 (resulting in the 27% increase compared to Q3 2012).

Due to the Corporation's decision to dispose of its principal assets at the start of Q4 2012, no amortization for the MWS assets was provided for on a consolidated basis during Q4 2012. The increase in amortization year-over-year is driven by the 48% higher tonnage throughput for FY 2012 compared to FY 2011.

The higher revenues in both Q4 2012 and FY 2012 more than offset the higher costs in the respective periods and resulted in the 31% and 38% increases in gross profits generated by MWS compared to Q4 2011 and FY 2011, respectively.

Going forward, there is an opportunity to improve recovery performance for the first gold module and circuit modifications aimed at improving leach time are expected to be concluded by the end of Q1 2013 with the intention of commissioning in early Q2 2013. Economically viable opportunities for the second and third gold modules have not emerged thus far. Notwithstanding the modifications that can be made to gold module one, the relative proportion of clay compared to clean material is expected to increase as the availability of clean sources of material on Buffelsfontein No. 3 tailings dam continues to diminish and, and with it, mining mix flexibility. The performance of gold module one and two will therefore continue to diminish until such time as alternative clay handling mechanisms with the ability to improve the reclamation rate as well as the quality of the material delivered to the plant are sourced. The impact could range from 15% to 25% off current levels dependent upon the relative extent of clay to clean material on Buffelsfontein No. 3 tailings dam.

First Uranium announces financial results for the three and twelve months ended March 31, 2012-1

(TSX:FIU), (JSE:FUM) (ISIN:CA33744R1029) ("First Uranium" or "the Corporation") today announced total gold sales for its financial year ended March 31, 2012 ("FY 2012") of 146,445 ounces of gold – a marginal increase on the 142,630 ounces sold at the end of March 31, 2011 ("FY 2011"). This was primarily due to the 21% decrease in gold production out of the Ezulwini Mine, granite crushing plant which off-set the 19% increase in gold sales out of Mine Waste Solutions ("MWS"). Total uranium sales rose sharply from 20,500 pounds in FY 2011 to 82,862 pounds in FY 2012 following the re-commissioning of the uranium plant at Ezulwini Mine in April 2011.

RECENT DEVELOPMENTS
The Corporation has entered into definitive agreements for the sale of its principal assets. The Corporation entered into a definitive agreement (the "AGA Agreement") dated March 2, 2012 for the sale, indirectly, of all of the shares of Mine Waste Solutions (Proprietary) Limited ("MWS"), owner of the tailings recovery project in South Africa, to AngloGold Ashanti Limited ("AGA") (the "AGA Transaction"). Under the terms of the AGA Agreement AGA will pay$335 million in cash (the "Purchase Price") for all of the shares and associated claims of First Uranium (Proprietary) Limited ("FUSA"), which holds, indirectly, the MWS tailings recovery project, subject to the fulfillment of a number of conditions precedent. In addition, the Corporation entered into a definitive agreement (the "Gold One Agreement") for the sale of First Uranium Limited ("FUL"),limestone crushing plant a wholly-owned subsidiary of the Corporation which owns all of the shares of Ezulwini Mining Company (Proprietary) Limited ("EMC") to Gold One International Limited ("Gold One") for $70 millionin cash (the "Gold One Transaction"). Gold One also provided a loan facility to the Corporation for an amount of up to$10 million available for drawdown in accordance with the loan agreement between the parties (the "Gold One Loan Facility") which has been fully drawn subsequent to year-end.

The proceeds from the sale of First Uranium's principal assets will enable it to settle the 4.25% senior unsecured convertible debentures (the "Debentures"), the 7% secured convertible notes (the "Canadian Notes") issued by the Corporation and the 11% secured convertible notes (the "Rand Notes") issued by MWS (together, the "Notes") and the Gold One Loan Facility under the terms agreed to with the Debenture holders, Note holders and Gold One on June 13, 2012.

On June 25, 2012, all of the conditions precedent to the AGA Transaction had been satisfied or waived. Each of the parties have confirmed such in writing and the Closing Date, as defined in the AGA Agreement, is scheduled to occur on July 3, 2012. On the Closing Date, all of the documents required to conclude the AGA Transaction will be delivered to Edward Nathan Sonnenbergs as Closing Document Stakeholder, the purchase price, in accordance with the AGA Agreement, will be delivered to Computershare Trust Company of Canada ("CTTC") and Computershare Investor Services (Proprietary) Inc. ("CIS"), each a Purchase Price Stakeholder, and certain documents ("Discharge Documents") relating to the discharge of the security held for the benefit of the Note holders and the Gold One Loan Facility will be lodged with the appropriate deeds office. On the Closing Date, CTTC will convert sufficient US dollars to Canadian dollars so that CTTC holds an amount in Canadian dollars to pay the principal amount (C$110 million) of the Canadian Notes outstanding and CIS will convert sufficient US dollars to South African Rand in order for CIS to pay the principal amount (ZAR418.6 million) of the Rand Notes outstanding.iron ore beneficiation equipment

Upon registration of the Discharge Documents releasing all security in the MWS assets, the Closing Document Stakeholder will release the remaining closing documents from escrow and the Purchase Price Stakeholders will pay: (i) to BNY Trust Company of Canada, as trustee for the Canadian Notes, C$110 million, and to or to the order of GMG Trust Company (SA) Pty Limited, as trustee for the Rand Notes (together the "Note Trustees"), ZAR418.6 million, (ii) to Gold One, $10 million plus accrued interest to the date of payment; (iii) $25 million (the "AGA Deferred Payment") to the warranty escrow agent; and (iv) the balance shall be paid to FUL. The Corporation has been advised that it could take up to three weeks for the Discharge Documents to be registered, accordingly, the AGA Transaction is expected to be implemented by July 24, 2012, or on an earlier date depending on the date the Discharge Documents are registered.

In order to provide sufficient time for the AGA Transaction to be implemented, Gold One and the Corporation have agreed to extend the date to satisfy the conditions precedent to the Gold One Transaction to July 31, 2012. Other than the conditions precedent associated with the implementation of the AGA Transaction, the material conditions precedent to the Gold One Transaction have been satisfied or waived subsequent to year-end, including all of the regulatory approvals to the extent required.

FINANCIAL YEAR ENDED MARCH 31, 2012

The Corporation's consolidated revenue of $195 million for FY 2012, an increase of 30% from $151 million for FY 2011, resulted in the Corporation reflecting a $7 million gross profit from operations in FY 2012 compared to a consolidated gross loss of $6 million in FY 2011. The consolidated pre-tax loss narrowed by 24% from a pre-tax loss of $236 million in FY 2011 to $179 million, driven primarily by the impairment of the Ezulwini Mine's assets in FY 2012.

phosphates ore beneficiation equipmentThese results are prepared in accordance with IFRS. Previously, First Uranium prepared its annual and interim consolidated financial statements in accordance with Canadian GAAP. From January 2011 however, the Canadian Institute of Chartered Accountants ("CICA") required companies to incorporate IFRS. The financial statements for FY 2011 have therefore been restated in accordance with IFRS and will, accordingly, differ from the financial statements previously posted for FY 2011.

During FY 2012, MWS produced and sold 99,003 (FY 2011: 82,941) ounces of gold, in line with the downgraded forecast issued in Q3 2012 of between 98,000 ounces and 100,000 ounces for FY 2012. In the process, MWS generated $132 million (FY 2011: $89 million) in revenue at an average Cash Cost* of $687 (FY 2011: $516) per ounce of gold sold. The 19% increase in gold sold for FY 2012 from FY 2011 was mainly attributable to the completion of the third gold module and the Tailings Storage Facility, which boosted processing capacity. As a result, tonnes reclaimed rose 48% year on year. This achievement was unfortunately offset by challenges encountered around the composition of the mining mix that saw an 11% drop in recovered grade during the period under review.

The 33% overall increase in Cash Costs, year-on-year, was mainly driven by the increase in processing capacity, running costs and teething problems associated with the newly completed infrastructure, largely as a result of increased fuel, water and power usage.

FY 2012 proved a particularly challenging year from a safety and production perspective at Ezulwini Mine, with 4 fatal accidents during calendar 2011, 3 of which occurred in the latter half of the calendar year, having a significant negative impact on employee morale and productivity of the mine.

Mining tax's birth day

The mining tax kicks in with the start of the financial year - but you could be forgiven for forgetting.
Despite all the column inches, ad space, social media churn and broadcast airtime devoted to it over the past three years, the birth of MRRT seems to have been over-shadowed – for the time being, at least – by its twin, the carbon tax. Hot Sale Small Scale Nickel Ore Quarry Equipments
While an online search for news items will fetch more than 30,000 items on the carbon tax from over the past week, the mining tax barely nudges the 2,000 mark.
So since everyone else seems to be ignoring the impending arrival of MRRT into the world, let’s wet the baby’s head with a few facts on how it came to be.
Spawning from the Resources Super Profits Tax (RSPT) in the heady days of the new Rudd government, the mining tax was conceived as a response to the review of the Australian tax and transfer system led by Treasury Secretary, Dr Ken Henry.
Hot Sale Small Scale Copper Ore Quarry EquipmentsThe Henry Tax Review found mining royalties had been set at rates that were low enough for mining to operate in periods of depressed commodity prices but failed to provide adequate return to the community when returns were high.
So in July 2010, just weeks after dumping her predecessor (and hurling his stupid carbon tax baggage out into the street after him), Julia Gillard sat down with BHP, Xstrata and Rio Tinto to cut a deal.
What emerged was the Minerals Resource Rent Tax 2011 Bill, under which all royalties paid to the states and territories will now be credited against the mining companies’ liability for the new tax.
The MRRT kicks in at the $75 million profit threshold (raised from $50 million), gradually increase for mining companies with profits between $75 million to -$125 million a year, reaching 30% for profits above $125 million.
However, a 25% allowance that recognises the expertise and capital that mining companies bring to mineral extraction means the effective top rate of MRRT is 22.5% (diluted from 40%, proposed under the RSPT).Hot Sale Small Scale Iron Ore Quarry Equipments
The number of mining companies to pay MRRT will be around 320 and the Treasury estimates it will generate $3.7 billion over the coming tax year, rising to $4 billion in 2013-14 and dropping to $3.4 billion the year after. And that’s one helluva birthday gift list.

Mushrooms stopped coal formation 300 million years ago

Scientists may have solved the riddle why so little coal seemed to form after the end of the carboniferous period.
Hot Sale Small Scale Chalcopyrite Ore Quarry EquipmentsMushrooms may have evolved to allow them to fully break down wood, rather than seeing all the organic matter slip under the earth and get compressed into coal.
"Wood is a major pool of organic carbon that is highly resistant to decay, owing largely to the presence of lignin," writes the researchers.
The researchers discovered that lingin degrading fungi started to expand when coal formation dropped off.
"Molecular clock analyses suggest that the origin of lignin degradation might have coincided with the sharp decrease in the rate of organic carbon burial around the end of the Carboniferous period. "Hot Sale Small Scale Lead Zinc Ore Quarry Equipments
Lead author Dminitrios Floudas, at the biology department of Clark University, published his findings in the journal Science.
The researchers write that the only organisms capable of breaking down lingin are white rot fungi in the Agaricomycetes, which include non–lignin-degrading brown rot and ectomycorrhizal species.
"Comparative analyses of 31 fungal genomes (12 generated for this study) suggest that lignin-degrading peroxidases expanded in the lineage leading to the ancestor of the Agaricomycetes, which is reconstructed as a white rot species, and then contracted in parallel lineages leading to brown rot and mycorrhizal species."