The state tax on gasoline goes up two cents on Sunday.

It’s the third step in the Legislature’s 2005 decision to raise the tax by nearly a dime. The fourth and final step will be another increase of nearly two cents in July of next year.

The revenue, combined with vehicle fees and a nickel gas tax increase in 2003, is paying for 432 transportation projects, costing about $13 billion in the next 14 years.

Voters in King, Pierce and Snohomish counties will be asked in November to approve additional taxes to pay for another $18 billion worth of road projects in the next 20 years.

Copyright 2007 by The Associated Press.

TORONTO (CP) - The Toronto stock market rang up a triple-digit early gain Friday as the information technology group surged ahead after a strong quarterly report from Research In Motion (TSX:RIM).

The S&P/TSX composite index rose 125.54 points to 13,841.21 as the final trading day of the second quarter got underway ahead of the three-day Canada Day weekend. The TSX Venture Exchange gained 14.61 points to 3,148.64.

The senior market’s information technology sector rose 5.3 per cent as RIM climbed 18 per cent, gaining $31.96 to $207.18. The BlackBerry maker announced late Thursday its first-quarter profit rose 73 per cent, and issued a glowing outlook while announcing a plan to split its stock three-for-one. Read more » »

Norilsk Nickel, the world’s biggest producer of the metal, said Friday that shareholders with 90 per cent of Canada’s LionOre Mining International Ltd. stock (TSX:LIM) have accepted its C$6.8-billion offer.

That paves the way for the full takeover of the company in the biggest-ever foreign acquisition by a Russian enterprise.

With its offer for LionOre, which has operations in Australia, Botswana and South Africa, Norilsk beat out rival bids from Swiss company Xstrata PLC.

The deal underscores the expansion of Russian mining and metals groups. With comparatively low energy costs and manufacturing from China pushing prices to new records, they have a strong position on a rapidly consolidating global market. Read more » »

Two contractors working at East Kentucky Power Cooperative’s new clean-coal generating unit being built at H.L. Spurlock Station in Maysville were injured Friday morning.

According to Nick Comer with EKPC, the two men fell between 6 and 10 feet from scaffolding while at the site. They were both transported to Meadowview Regional Medical Center.

Comer said information from a witness indicated the injuries were non-life threatening.

The accident occurred around 11 a.m. at the unit, known as Spurlock 4. Responding to the scene was Maysville/Mason County EMS and Maysville Police Department.
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Sen. Jay Rockefeller says he is not sure if the changes planned by the federal Mine Safety and Health Administration will make a difference in mine safety.

The MSHA says it is taking a number of steps to correct mistakes it made before the Sago Mine explosion and two other disasters that killed 19 coal miners last year.

The changes include setting up an internal accountability office to avoid enforcement and procedural lapses.

Copyright 2007 by wtov9.com. All rights reserved.

Magplane Technology, Inc. , focused on commercializing proprietary magnetic levitation (maglev) technologies, has completed an initial assessment of the rare earth permanent magnets produced in Inner Mongolia, China. The magnets from Inner Mongolia are the strongest permanent magnets produced world-wide and are used to provide lift and propulsion forces used in Magplane’s passenger and pipeline transportation systems.

Magplane has confirmed that the production capabilities and quality of the Inner Mongolia permanent magnets will meet the requirements of the Magplane system. “We require permanent magnets that meet our specific requirements for strength, physical dimensions, and other parameters necessary for use in Magplane’s proprietary maglev design. The magnets are installed in a particular configuration to provide precise lift and propulsion forces,” said Dr. Bruce Montgomery, CTO of Magplane. Read more » »

Indian companies like SAIL and Tata Power have been losing sleep over the huge delay in shipment of coal that comes from New Castle in Australia.

First there was a delay due to bad weather and now the port congestion has further blocked shipment.

The vessels that carry coal from Australia’s New Castle, the world’s biggest export harbour for the fuel to India were stranded for a week because of stormy weather.

The shipments may have resumed now but the port congestion has added to the shipment backlog causing further delays. Read more » »

The Mozambique government has approved the mining contract for the exploitation of the Moatize coal project, in the northwestern province of Tete, said Companhia Vale do Rio Doce (CVRD) in a statement.

The contract has a duration of 25 years, which can be extended.

The project involves the exploitation of an open-pit mine for 35 years, with an estimated average annual production of 11 Mt of coal products, 8.5 Mt of metallurgical coal and 2.5 Mt of thermal coal.

“This is an important step in our strategy for the coal business. We still need to reach an agreement, which is in the final stage of discussion, involving competitive costs for the logistics of the project,” said Roger Agnelli, chief executive officer of CVRD.

Bloomberg June 29

A Fife coal mining disaster that claimed 35 lives is being marked by a new generation of villagers.

Schoolchildren are marking the High Valleyfield pit tragedy of 1939 by opening a memorial garden on Sunday, after months of fundraising.

St Serfs Primary has been backed with £10,000 from Fife Council.

On October 28, 1939, a blast in the number one shaft of Valleyfield pit killed 35 men, leaving 42 youngsters fatherless.

Other men working deep underground were also injured.
Read more » »

THE Tokyo Electric Power Corporation (Tepco) of Japan is willing to assist the Philippines if it will push through with its plan to put up nuclear power plants in the country.

Tepco general manager Satoru Harada for machinery department 1 for power projects, made the offer after the government announced that it would revive plans to build nuclear plants in the country.

“Should it happen in the Philippines, we can assist,” Harada told reporters.

But he said it should not be an agreement with a private company but a government-to-government deal. Read more » »