Mining Exploration News

Zijin Mining Group, China’s biggest gold miners, and China-Africa Development Fund close to secure the mining investment agreement with the Democratic Republic of Congo. Both countries will jointly to acquire copper mines in African countries.

President of the China-Africa Development Fund told the conference in Beijing, “Congo government welcomes China’s investment plans in the Congo, particularly in the mining sector. But there is no schedule of agreement between both countries will sign the agreement.”

In May Zijin announced that it had teamed up with...

Houston City Council has signed a deal with oil and gas exploration companies to explore natural gas reserves beneath the city park. Natural gas exploration will be conducted at three city parks in Houston, among others, Herman Brown, Brock and Maxey Park.

Natural gas exploration lease contract with Southern Star Exploration valued at $200,000. Lease value of natural gas exploration will be back to the park by 25% where natural gas is found.

Mayor Annise Parker says if natural gas is found, drilling would take place from nearby property, with no drilling allowed in the parks. Parker...

The mining sector is one of the leading industry sectors for the improvement of the Australian economy. Therefore, the Australian mining industry sector plan increased investment in the mining sector reached $ 55 billion. Increased investment is expected to reach 60 percent or double the previous year, although the mining tax policy have not received any assurance from the government.

Mining investment growth is expected to boost economic growth because the mining industry sector can bring in investment that is promising for Australia’s economic growth. The challenge to increase...

Asian oil and gas companies have taken some program to get oil exploration projects in several countries that have oil potential. This program is carried out to obtain a secure energy reserves in the future.

Chinese and Malaysian state-owned energy groups were among the main winners when Iraq opened up its oil reserves to foreign players in auctions last year. A consortium made up of BP and China National Petroleum Corporation won a contract to develop southern Iraq’s giant Rumaila oil field. For China’s national oil company, it was the second major deal after a $3bn contract...

Canada gold mining company Kinross Gold has completed the acquisition of Russian companies which own the rights to develop and mine high-grade gold deposits for $165 million and 10.56 million new Kinross shares, the company said late on Friday.

The transaction, first announced on January 20, 2010, entailed the indirect acquisition of 100% of the participatory interests in Northern Gold LLC and Regionruda LLC, the owners of Dvoinoye and Vodorazdelnaya exploration and mining licenses, for consideration comprised of US$165 million in cash and approximately 10.56 million newly issued Kinross...

Russian gas companies Gazprom is expecting natural gas demand to reach pre-crisis levels by 2012.

“Not later than 2012, we expect demand to be restored to the pre-crisis level,” the head of Gazprom Export, Alexander Medvedev, said in a statement released late Thursday by a representative for the Russian gas group.

“Based on the development of the oil price in the last few months, we can expect prices to continue rising step by step,” he added.

The statement was issued in response to an interview with Medvedev published Wednesday that misquoted him...

Oil and gas exploration company in America gets a fresh breeze to continue oil exploration and drilling project, because panel of energy and environmental experts recommend removal of oil drilling moratorium.

The panel of energy and environmental experts say the six-month moratorium, scheduled to expire in November, has allowed sufficient time for the government to develop the margin “safe enough” for the drilling of water in the Gulf of Mexico.

President of the United States issued a policy for oil and gas exploration company in the water can continue drilling if the...

India plans to have a shale gas policy in place by the end of 2011, and is currently working on a resource assessment of its basins and drafting a fiscal policy for shale gas exploration, the country’s upstream regulator said late Friday.

Shale gas–natural gas trapped in layers of geological shale formations–has become one of the hottest investment plays in the energy sector, as technological breakthroughs have sharply brought down production costs.

Global oil majors such has Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC and India’s Reliance Industries...