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South Africa Mining Company Joint Venture with Australia’s Aquila Resources
South Africa’s Scharrig Mining Ltd has formed a joint venture to develop coal mines and linked power projects in Botswana with Australia’s Aquila Resources and a firm headed by former Ashanti Gold chief Sam Jonah, Scharrig said on Monday.
Scharrig shares, which have surged 71 percent this year, jumped 5.88 percent to 22.50 rand by 0815 [...]
Russia’s Leading gold mining company close to acquiring Polyus stake
The Russian state could move a step closer to taking a major stake in Polyus Zoloto, Russia’s leading gold mining company owned by billionaire Mikhail Prokhorov, according to two people familiar with the matter.
The possible Alrosa-led acquisition of the stake in the gold producer, valued at more than $2bn at current market prices, is seen [...]
British Petroleum pulls out of PSO bidding
British Petroleum Plc said on Thursday it had withdrawn from a consortium bidding for a 51 percent stake in PSO after a “regular review” of its global refining and marketing business.
Early on Thursday Supreme Court ordered a delay to the privatisation until it rules on whether a Saudi-backed firm can enter the bidding, but a [...]
Greentree Gas & Oil Ltd. Reports Operations Update
Greentree Gas & Oil Ltd. is pleased to report that the Company is preparing to move onto its Tilbury West well, GGOL#71, with a stimulation and production-testing program. The well is located between four significant Trenton-Black River oil pools that are operated by Talisman Energy (Rochester, Goldsmith-Lakeshore and Renwick-Fargo). The Rochester pools are situated to [...]
Uranium Windfall Opens Choices for the Energy Dept.
The government accumulated vast quantities of uranium when prices were very low and no one else wanted it. But now that uranium prices have increased tenfold, the government has a precious commodity — and some tough questions — on its hands.
Furious lobbying has broken out over who should end up with the prize, which will [...]
Anglo in coal BEE deal
Anglo American plc said it has signed a heads of agreement to sell R7 billion of its South African coal assets to a group of black investors.
The assets in question include the Kriel Colliery and the Elders, Zondagsfontein, New Largo and Heidelberg projects.
The assets will be transferred to the control of a new company, Anglo [...]
Monterrico agrees takeover by China group -source
Peru-focused copper miner Monterrico Metals Plc has agreed to be taken over by a consortium of Chinese companies at a price more than 20 percent higher than Friday’s close, a source familiar with the situation said on Sunday.
The source told Reuters that the firm would put out a statement on Monday detailing the terms of [...]
China to buy first listed UK company
Monterrico Metals, a London-based mining firm, is set to become the first quoted British company to fall into Chinese hands, The Sunday Telegraph can reveal.
A deal to acquire Monterrico, which is listed on the Alternative Investment Market (Aim), could be unveiled as soon as tomorrow, and is likely to value the company at just under [...]
CNPC to Explore Oil, Gas in Three Myanmar Offshore Areas
A Chinese oil company signed contracts in Nay Pyi Taw, Myanmar Monday with the Myanmar Ministry of Energy on conducting crude oil and natural gas exploration at three deep-sea blocks off the South Asian country’s western Rakhine coast.
Under the production sharing contracts signed between the China National Petroleum Corporation (CNPC) and the Myanmar Oil and [...]
