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Votorantim seeks to boost its stake in Peru's Milpo

Brazilian conglomerate Votorantim said on Thursday it wants to boost its stake in Peruvian miner Milpo to about 40 percent from 20 percent as it seeks to expand amid booming demand for metals. The offer of up to $422 million comes as mining companies try to consolidate holdings in the sector, which is thriving as strong global demand has boosted prices for metals. Shares of Milpo rose about 11 percent to 7.81 soles on Lima's stock exchange after privately held Votorantim, which has mining and metals operations in Latin America, sent a letter about the offer to Peru's securities regulator. (Reuters - click here to read complete article)


Solex Confirms New Uranium Mineralization on Its 100% Owned Macusani South Property

Solex Resources Corp. is pleased to announce that the 2007 surface exploration program on its 100% owned Macusani South property has identified widespread surface uranium mineralization. The Macusani South project (4,700 hectares) is located in the Macusani Uranium District of Southern Peru and is both contiguous with and geologically analogous to the Company's 50% owned Macusani East property which underwent a 24,000-metre drill program in 2007. "These results have validated the prospectivity of our 100% owned Macusani South property and provide an important step in realizing the value of our strategic land position in the emerging Macusani Uranium District," stated Jonathan Challis, President of Solex. (Marketwire - click here to read complete press release)