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Riversdale Mining Increases Zambeze Project Coal Mine Resource Estimate
Africa-focused coal-miner Riversdale Mining has upgraded the coal resource estimate of its Zambeze project, in Mozambique, to nine-billion tons.
The total coal resource for the Zambeze project includes about 2,3-billion tons in the indicated category.
The Zambeze project is Riversdale’s second major coal project in the Moatize basin, and is adjacent to the Benga coal project.
“A resource [...]
Australian Gold Output Down 2 percent in March Quarter
Australia’s gold production declined by 2% in the March quarter, to 61 t, compared with the December quarter, but was still 13% higher than the production in the same period last year, independent consultants Surbiton Associates reported.
At current prices, the gold produced in the March quarter was worth around A$2,8-billion, said Surbiton director Dr Sandra [...]
Songzai International Signed Agreement to Acquire Liujiaqu Coal Mine
Coal exploration and production companies in China, Songzai International Holding Group have signed an agreement to acquire Liujiaqu coal mines. Liujiaqu coal mines located in Inner Mongolia region.
Songzai estimates, Liujiaqu coal mine has coal resources of 1.43 million mt and expected Liujiaqu coal mine will produce approximately 1.2 million mt of coal in 2011. Therefore, [...]
Union Strike Disrupting Coal Exports by Exxaro Resources Mining Company
A number of workers who worked on the logistics group Transnet strike, thus paralyzing the railway operations for transporting coal in South Africa. This situation resulted of coal exports by the mining company Exxaro Resources hindered.
If the strike continues, then the Exxaro will issue a notice of force majeure on exports of coal from South [...]
Macarthur Coal Takeover Bid Proposal by Peabody Energy Rejected
Peabody Energy’s bid proposal for Macarthur Coal takeover was rejected, because the offer price is not in accordance with current market conditions, so the company can not recommend the proposal to shareholders.
Earlier this month, Peabody lowered its offer of A $ 16 per share to A $ 15 a share, citing a 40% tax on [...]
Fortescue Metals Postpone Plans $ 15bn Investment to Develop Mining Projects in Australian
Plan gains tax increase that will apply to mining companies in Australia to have a fairly hard resistance from a mining company. Fortescue Metals, is one of the mining company will suspend mining investments amounting to $ 15bn. Analysts say the delay will be waiting for the certainty of profit tax law to be applied [...]
New Land Laws Proposal for Future Mining Explorations in Queensland
New laws will be proposed in Queensland to protect the landholder’s rights once coal seam gas exploration enters their lands.
Mines Minister Stephen Robertson said these new laws will promote more investment in the industry while farmlands, water supplies and the environment can be protected by the Queensland government.
“The changes aim to bring more consistent processes [...]
World Bank Abandons Coal Mine Exploration Project In Pakistan
Government officials were claiming discrimination because the World Bank has apparently abandoned a highly visible coal mine exploration project, reports a leading english language daily on Monday.
Business Recorder quoted government officials saying: “major reasons for the World Bank’s withdrawal from the project is lack of emphasis on Thar coal resources in our national [...]
Largest Coal Mine Exploded in Turkey, 32 Miners Trapped in Underground Coal Mines
An explosion ripped through a major coal mine in northern Turkey on Monday, trapping 32 workers underground, authorities said.
The blast took place at the Karadon mine near the Black Sea port of Zonguldak. There was no immediate word on its cause. It was the third mine accident in Turkey in the past six months.
Gov. Erdal [...]
