Sub-surface mining or underground mining refers to a group of techniques used for the extraction of valuable minerals or other geological materials from the earth. In contrast to the other main type of excavation, surface mining, sub-surface mining requires equipment and/or manpower to operate under the surface of the earth.
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Sterling Mining Company (TSX: SMQ)(OTCBB: SRLM)(FRANKFURT: SMX) announces that it has closed an equity financing of US$1.8 million by way of non-brokered private placement. The placement will consist of 741,164 units at US$2.40 per unit.
Japanese trading house Marubeni Corp. announced Friday plans to acquire stakes in two mining projects in Chile from Antofagasta PLC amid booming demand for copper.
Under certain circumstances surface mining can become prohibitively expensive and underground mining may be considered. A major factor in the decision to operate by underground mining rather than surface mining is the strip ratio, or the number of units of waste material in a surface mine that must be removed in order to extract one unit of ore.
Bucyrus International Inc. entered into a preliminary agreement Tuesday with Huainan Mining Industry Group for a possible joint venture in the Huainan mining area of China's Anhui Province.
Underground Mining
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