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NSW copper worker killed in accident

A COPPER miner has died in central New South Wales after an accident at Glencore's CSA underground mine near Cobar overnight.

Emergency services were called to the mine at 11.15pm after a 26-year-old man became trapped in a pipe after attempting to dislodge debris.

Paramedics attempted to revive the man, who was in cardiac arrest, and continued treatment while he was transported to Cobar Hospital.

The worker was announced deceased after arriving at hospital.

"I would like to extend my deepest condolences and prayers to the man's family, friends, co-workers and the wider Cobar community, during this very difficult time," NSW resources and energy minister Anthony Roberts said this morning.

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Metals X bristles after secret bid for Meekatharra gold

METALS X has increased its cash offer for Reed Resources' Meekatharra gold project by $A2.3 million to a total $9.4 million, labelling a rival last minute bid "scurrilous and unconscionable"

The latest offer is a boost from the $7.7 million ($7.1 million in cash and $600,000 in shares) acquisition first announced last month.

Along with $9.4 million in cash this offer includes the transfer of 24 million Reed shares, worth about $500,000, that Metals X owns.

Metals X said the price was upped after administrators of the Meekatharra project revealed a rival bid from a secret party at a creditors meeting yesterday.

Administrators said while they could not disclose the group they were well-funded and the offer was genuine.

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Pathway to Jundee deal cleared

NORTHERN Star Resources is one step closer to becoming Australia's second-largest gold producer after a third party waived its pre-emptive right over the mine in return for $A10 million in shares.

A key condition of the $82.5 million purchase of Jundee from Newmont Mining was the waiving of the pre-emptive right.

Northern Star has been unable to name the third party due to confidentiality agreements with Newmont.

The company will issue the third party $10 million worth of shares at the volume-weighted average price in the 10 days before completion of the deal.

The shares will be escrowed for six months.

Northern Star expects to complete the financing condition by June 26, allowing the deal to be completed on July 1.

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Aquila rises on MinRes speculation

SHARES in Aquila Resources hit a 52-week high this week as Mineral Resources called a trading halt over speculation it bought a large chunk of the takeover target.

The West Australian reported that MinRes had purchased a 12.1% stake in Aquila.

It cited broking sources as saying the iron ore producer had bought 49.9 million Aquila shares at $A3.75 each from institutional investors.

MinRes added fuel to the fire by entering a trading halt pending an announcement regarding speculation over the Aquila buy.

Shares in Aquila reached a 52-week high of $3.77 this morning.

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Porgera village burnt in mining dispute

MORE than 200 houses were allegedly burnt down last week as part of the crackdown on illegal mining in the Papua New Guinea gold mining town of Porgera.

However, Local MP Nixon Mangape said the razing had left members of the Tiene tribe - the landowners of Barrick Gold's Porgera mine - homeless for a second time in six years.

Mangape and several local leaders stated that more than 200 houses, some of them permanent structures, were burnt to the ground in the village of Wingima during an early morning raid on Friday, local paper The Post Courier reported.

Security forces reportedly arrived at Wingima village from three different directions at around 5am and began burning huts while occupants were still sleeping.

The raid apparently was motivated by claims that there had been illegal miners living in the homes, which were part of the permanent Wingima settlement for the Tiene people.

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