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Mining Exploration Company, Persues Received Loan To Finance Ayanfuri Gold Mine Project, Ghana


Ayanfuri a gold mine site in the Ghana government area. Gold mining exploration rights held by the company Ayanfuri mining Persues. To build a manufacturing facility, Persues mining company has secured a loan worth $ 85 million. Persues mining company plans to begin construction in the first quarter of 2010 and production of gold mining [...]

Mining Companies Egypt’s ASEC Will Manage Operation Of Algeria Gold Mines


Egypt ASEC is Egyptian mining company that focuses on mining exploration. ASEC Egypt has made a deal to buy 10 percent shares of the company that holds the GMA Resource gold mining operation rights Algeria. The acquisition,

Oil and copper and gold prices slip from recent highs


Gold, oil and copper prices pulled back from early highs on Friday as the U.S. dollar recovered from a new low against the euro.
Commodity prices have risen rapidly in recent weeks as the dollar has fallen against the euro and other world currencies. The dollar sank to a new low Friday against the 13-nation euro, [...]

Russia’s MBC plans mining expansion, IPO date unclear


Russia’s MBC Resources, sitting on huge zinc and lead deposits, is examining new metals projects in Russia and abroad but has not yet decided when and where to list shares, company executives said on Friday.
Chief Executive Oleg Mikhailenko said MBC planned to bid for the Verkhneye Menkechea zinc, lead and silver deposit in the far [...]

Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell


Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]

Fierce competition in scramble for Libya’s black gold


After 20 years of isolation, Libya has become the destination of choice for hungry oil companies ready to cut any kind of deal to get a piece of the north African state’s oil riches.
“It’s a race for our black gold,” president of the National Oil Company Shukri Ghanem told AFP. “We are organising it like [...]

Oil Rises on U.S. Cold Weather Forecasts, OPEC


Oil struck two-month highs above $63 on Thursday as U.S. winter fuel supplies fell ahead of a cold front in the world’s top heating oil market and on news OPEC could strengthen its market muscle by adding members.
U.S. crude settled 67 cents higher at $63.13 a barrel, after earlier reaching $63.77, its highest level since [...]

Oil, Gold Bottom on China-Led Rebound, U.S. Trust, Goldman Say


Oil, gold and copper have bottomed in the last three weeks and may lead a rebound in the commodities markets, say a growing minority of strategists.
“We are positioning for an upturn,” said Michael Hoover, who manages $475 million at U.S. Trust Co.’s Excelsior Energy and Natural Resources Fund, which gained an average 20 percent a [...]