TORONTO, Jan. 24 /PRNewswire-FirstCall/ – Argentex Mining Corporation is pleased to announce that it has received conditional approval to list its common shares on Canada’s TSX Venture Exchange . Final approval is subject to conditions specified by the Exchange, including receipt by it of specified documents and a listing fee described in a conditional letter of approval from the Exchange.

“Our listing on the TSX Venture Exchange is another important milestone in our growth and development,” said Ken Hicks, President of Argentex. “We believe that this listing will provide the company and its shareholders with many advantages, including greater visibility and enhanced market access for the Canadian investment community.”

The TSX Group, which includes the Toronto Stock Exchange and the TSX Venture Exchange, is the world’s premier listing destination for mining and mineral exploration companies.

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By Karen Norton
LONDON, Jan 24 (Reuters) – The deepening global financial crisis has tightened bank lending to some smaller mining firms, jeopardising, or at least delaying, projects that may be needed to satisfy demand for metals in the next few years.

Banks are still reeling from the credit crunch, which saw many suffer heavy losses, and most are less willing to make loans to what might be considered riskier projects.
Global equities markets have fallen sharply in January on fears of recession in the United States. But emerging markets are expected to continue to prop up base metals demand and hence prices, albeit below record highs.

Copper, used in construction and electrical applications and zinc, used in buildings and cars, may be worst hit by shortages as smaller miners struggle to plug the gap left by larger firms.
“Lending has already become more restricted and will be even more restricted as the weeks go by,” said Ashok Shah, chief investment officer at London & Capital. Read more

Gujarat NRE Group company India NRE Minerals Ltd, which is listed on the Australian Stock Exchange, has firmed up plans to invest A$300 million in mining initiatives in Australia.

This follows the consolidation of two company-owned mines in New South Wales, Australia.

The promoters of India NRE Minerals Ltd plan to dilute their holding – which currently stands at around 80 per cent of the equity stake in the company – in the Australian capital market to part-finance the mining initiatives.

According to Mr Arun Kumar Jagatramka, Vice-Chairman & Managing Director of Gujarat NRE Coke Ltd and Director of India NRE Minerals Ltd, coal mine NRE Avondale and Eulora has been consolidated into one mine that has now been renamed NRE Wongawilli. Earlier, the company had acquired Eulora from BHP Billiton Ltd. Read more

British Columbia set an all-time high for mineral exploration last year, says provincial Mining Minister Kevin Krueger.

Krueger announced Tuesday that companies spent almost $416 million on exploration activity in 2007, surpassing the previous year’s record.

“Investment in exploration spending is up 57 per cent over that of 2006 and over 1,300 per cent from when we took office in 2001,” Krueger said in a statement.

“With 472 exploration-stage projects across the province, British Columbia is steadily gaining a greater share of Canada’s exploration activity, providing a tremendous boost to local economies.”

Krueger said there were 23 new mine-development proposals for 13 metal mines, seven coal mines and three industrial mineral mines. Read more

Crude oil and copper rose, and corn gained for the first time in seven days, on Chinese growth and speculation a possible bailout of U.S. bond insurers will restore confidence in the financial system.

Gold surpassed $900 an ounce for the first time in a week and platinum reached a record, on renewed demand for commodities as Asian and European stocks advanced. China’s economy expanded more than 11 percent for the fourth consecutive quarter, underpinning global growth as a possible U.S. recession looms.

“With China and India’s continued growth and consumption levels alone, the global demand for commodities will inevitably continue to grow exponentially,” Roland Jansen, chief investment officer of Juno Mother Earth Asset Management, said in a report.

China, the biggest consumer of metals, grew 11.4 percent in 2007 from a year earlier, the fastest pace in 13 years. The nation accounted for 17 percent of global Read more

SYDNEY (Thomson Financial) – Australia’s largest listed gold miner Newcrest Mining Ltd revealed Thursday that its large scale Telfer mine in north-west Australia continues to present challenges.

The company said, in its December quarter report, that costs at Telfer are expected to be 8-9 percent higher than previous guidance, while output for the year to June is expected to be down about 54,000 ounces from the open pit operation.

Overall, Telfer is expected to produce 385,000 to 450,000 ounces in the year to June from both the open pit and the undergound mine with guidance for the underground operation unchanged.

The miner said mechanical availability of the open pit mining fleet and the processing of harder ores are impacting on Telfer’s production.

It said costs at Telfer are coming under increasing pressure, reflecting rising costs across the Western Australian mining industry due to shortages of skilled labour as new projects Read more

BHP Billiton Ltd., the world’s biggest mining company, said coal-mining operations owned by BHP Billiton Mitsubishi Alliance in northeastern Australia may be disrupted for months because of heavy rain and water flows.

The venture, the world’s biggest exporter of coal used in steelmaking, will assess the effects on production, inventories and shipments throughout this week to get a clearer picture of the full impact, Emma Meade, a spokeswoman at BHP Billiton in Melbourne, said today in an e-mail.

A monsoonal trough brought “torrential” rain to the tropical Queensland coast earlier this week, causing flash flooding in some rivers, The Weather Co., a commercial weather forecaster, said on its Weatherzone Web site. The areas surrounding the town of Emerald have been declared a disaster zone, while workers had to be evacuated by helicopter on Jan. 20 from a mine owned by Ensham Resources Pty.
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