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Glencore Wins Control Underground Copper Mine in Congo
Glencore International AG may win a controlling stake in the biggest underground copper mine in the Democratic Republic of Congo with a $265 million loan that will keep Katanga Mining Ltd. afloat.
Delivery Of Coal-Mine From Port Of Newcastle Surged 25%
Newcastle Port Corp website showed, the world’s largest coal export terminal, surged to 2.02 million tonnes in the week to September 22, from 1.6 million tonnes for the week to September 8.
Coal exports from Australia’s Newcastle port surged 25 per cent from the previous week, port data showed, a sign of robust regional demand despite [...]
Sultan Mining and Energy Will First Shipment of Coal Mine Result
Sultan Mining and Energy Development Corp. will make the first overseas shipment of its coal mine exploration output after entering into a supply contract with Switzerland’s Glencore International AG, documents from the Department of Energy (DOE) showed.
Glencore, one the world’s largest suppliers of commodities and raw materials, will purchase 90,000 metric tons of local coal [...]
Philipines Coal Mine Exploration, Coal miner eyes 300-MW power plant in South Cotabato
Coal miner Sultan Mining and Energy Development Corp. is exploring the possibility of putting up a power plant in Daguma, South Cotabato, in the southern Philippines.
Sultan Mining’s coal resources are enough to power up a 300-megawatt power plant, according to sources familiar with the company’s activities.
Sultan’s wholly owned subsidiary, MG Mining and Energy Corp. (MGMEC), [...]
Philippines Coal Mining Exploration and Producer, Semirara to Expand Coal Capacity
Semirara started exporting coal last year to reduce its dependence on local consumers, such as the country’s largest power generation firm National Power Corp.
This year, Semirara Mining Corpwill to expand coal capacity production and expand market coal export to China, India and Hong Kong to double to 1.6 million tonnes this year.
Total Semirara coal sales [...]
Gloucester Coal Investors Vote Against Xstrata Offer (Update2)
Western Mining Co., China’s second- largest maker of lead concentrate, raised 6.2 billion yuan ($816.4 million) in an initial public offering in Shanghai after attracting orders for more than 200 times the shares available.
The producer of zinc, copper and lead sold 460 million new shares at 13.48 yuan each, the top of the range indicated [...]
Xstrata Extends Offer for LionOre
Xstrata plc announces the extension of the expiry time of its all-cash offer to acquire all of the LionOre Mining International Ltd. (”LionOre”) shares to midnight (Vancouver time) on 28 June 2007. Following Xstrata’s decision not to match the offer made by OJSC MMC Norilsk Nickel (”Norilsk”) to acquire all of the LionOre shares, LionOre [...]
PNOC Exploration nets P2.6B
PNOC Exploration Corp. (PNOC-EC), a subsidiary of Philippine National Oil Co., registered a net income of P2.6 billion last year despite a slight decline in revenue.
Company data showed that 95.6 percent of its profit came from its 10-percent interest in the Malampaya Deep Water Gas-to-Power project.
Last year’s sales revenue fell 7 percent to P6.2 billion [...]
APEC to Seek Closer Cooperation Between Oil Companies (Update1)
Asia-Pacific Economic Cooperation countries agreed to seek closer cooperation between oil and gas companies to improve energy trade flows and supply security.
All companies, not just national oil companies, need to cooperate to improve transparency in the market and free up trade, Ian Macfarlane, Australia’s industry minister, said at a media briefing during the APEC energy [...]
