Japan’s JFE Steel Corp. said Friday it will set up a joint iron ore processing plant in southern Oman with a Bahrain steelmaker.
The joint venture is capitalized at some 280 million dollars, of which 40 pct will be put up by the unit of JFE Holdings Inc. and the remainder by Foulath.
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Xstrata Plc XTA.L, the world’s biggest thermal coal exporter, said on Thursday it lifted force majeure on coal shipments from its Rolleston mine in Australia, which produces 8 million tonnes of thermal coal annually.
“We’ve sent out a note to clients today informing them that the force majeure has been lifted and shipments will resume shortly,” said James Rickards, a spokesman from Xstrata’s coal unit in Australia.
The resumption of exports from Rolleston could drive prices below $120 a tonne, traders say.
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Today in Asia Trade, oil price up to $106.35 dollars a barrel, delivery rose 45 cents.
Oil prices were higher in Asian trade on Thursday, bolstered by a weaker-than-expected energy stockpiles report in the United States, the world’s biggest energy user.
The US government’s Energy Information Administration (EIA) said its crude stockpiles were unchanged at 311.8 million barrels in the week ending March 21.
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Compania Espanola de Petroleos SA, Spain’s second-largest petroleum company, agreed to pay about $900 million for exploration and production rights to fields in central Colombia that hold 40 million barrels of oil.
The company, known as Cepsa, acquired 70 percent of the Caracara project and will become its operator, the Madrid-based refiner and service-station owner said in a filing to regulators today that didn’t give terms. The value of the purchase was provided by a Cepsa spokesman who declined to be identified.
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Gran Tierra Energy Inc. had begun testing operations on Costayaco-3, a new well drilled in the recently discovered Costayaco Field. Gran Tierra Energy initiated drilling of Costayaco-4 while continuing new production facility upgrades to handle new production. In parallel, Gran Tierra Energy’s exploration operations are advancing in Colombia, Peru, and Argentina.
Colombia Operations Costayaco-3, Chaza Block
Gran Tierra Energy commenced testing operations for Costayaco-3, the third well drilled in the Costayaco field, a new oil field discovered in 2007, on March 19. The Costayaco field is located in the Chaza Block in the Putumayo Basin, where Gran Tierra Energy has a 50% interest and is the Operator; Solana Resources holds the remaining 50% interest. Read More…
North Korea’s number two leader ended a trip to Namibia, a leading uranium producer, on Sunday saying he would strengthen ties with the country.
North Korea, under pressure to declare its nuclear programmes, and Namibia said they signed a memorandum of understanding on diplomatic consultations.
Kim Yong-nam, president of the presidium of the Supreme People’s Assembly, started an African tour on Thursday in Namibia, the world’s fifth-largest uranium miner.
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Trevali Resources Corp. is pleased to announce that follow-up diamond drilling has successfully intersected significant economic base and precious metal mineralization in all boreholes on its Magistral Norte target, at the historic Santander poly-metallic (Zinc Lead Silver Copper) mine. Santander is located in the province of Huaral, west-central Peru.
The Company is presently drilling the first of four high priority out-cropping mineralized zones termed Magistral Norte, Central, Sur and Puajanca respectively, following which it will commence testing several additional high priority geophysical exploration targets.
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Normabec Mining Resources Limited is pleased to announce additional results from its on-going winter drilling program on the Pitt Gold property, located along the Porcupine-Destor Break, some 35 km north of Rouyn-Noranda, in the Abitibi region of Quebec.
Normabec previously released impressive results from its first two first holes of the season (See Press Releases dated February 28, 2008 and January 29, 2008). The current release lists more excellent results from its completed third drill hole click here for look at the table report.
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Two de-miners were killed and one badly injured Tuesday during mine removal operations at the foot of the Ozren mountain in northern Bosnia-Herzegovina, local police confirmed. One of the victims died instantly in the blast in the Karanovac settlement of Sprecansko polje area, while one of the two who were seriously injured died on the way to hospital.
The three were part of a team from de-mining company DEMIRA from the northern Bosnian town of Orasje.
The incident came a day after a 35-year-old de-miner was killed in an explosion during mine-removal operations in Stanari village near the Bosnian town of Doboj, also in the country’s north.
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Uranium One Inc., the Canadian company that is set to start up Australia’s fourth mine for the radioactive metal, plans to extend drilling at the Honeymoon site as it seeks to extend the life of the project.
Drilling at the Granite Project, two kilometers (1.2 miles) southeast of Honeymoon in South Australia state, will start after Easter, Colin Skidmore, vice president for exploration at Toronto-based Uranium One, told a conference today in Adelaide, an e-mailed statement of his remarks shows.
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