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Vedanta Group, Mining Companies Golden Steps in Mining and Metal Industry
India’s Vedanta group is scripting a success story in mining sector with its brave decisions to acquire new companies even though the global meltdown has wreaked havoc in metal sector.
Cleveland-Cliffs Iron Mine Exploratio Invest $500 million for Increase Iron Mine Exploration
Cleveland-Cliffs Inc. says it’s investing $500 million to increase iron pellet production at its Empire Mine in Marquette County.
The Cleveland-based company says the project will extend the life of the mine, which faced potential closure in 2011, through 2018. It also will add about 375 employees to the existing work force of about 550 employees, [...]
Coal use grows despite warming worries
Almost nonstop, gargantuan 145-ton trucks rumble through China’s biggest open-pit coal mine, sending up clouds of soot as they dump their loads into mechanized sorters.
The black treasure has transformed this once-isolated crossroads nestled in the sand-sculpted ravines of Inner Mongolia into a bleak boomtown of nearly 300,000 people. Day and night, long and dusty trains [...]
Mechel Reports 2007 First Quarter Financial and Production Results
- Revenues of US$1.4 billion -
- Operating income of US$327.7 million -
- Net income of US$205 million, US$1.47 per ADR or US$0.49 per diluted share -
Mechel (Nachrichten) OAO (NYSE: MTL), a leading Russian integrated mining and steel group, today announced financial and production results for the first quarter ended March 31, 2007.
US$ thousand 1Q 2007 [...]
Progress at Its C Zone Gold Project from Golden Eagle
Golden Eagle International, Inc. announced today that its ongoing trenching work on its C Zone gold project in eastern Bolivia is proving geological continuity between its exploration drill and pitting sampling sites. This work is a critical component in the Company’s due diligence efforts with its funding source that has committed to investing $1 million, [...]
State-owned power, coal cos at loggerheads over price fixation
The state-owned Bangladesh Power Development Board (BPDB) and the Barapukuria Coal Mining Company Ltd (BCMCL) are in dispute over fixation of coal prices and its extraction.
The BPDB is demanding adequate supply of coal from the Barapukuria coal mine to run the country’s lone coal-fired 250-mega watt (MW) Barapukuria Power Plant.
The BCMCL, on the other hand, [...]
Armtec Infrastructure Income Fund delivers revenue and cash flow growth for 2006
Armtec Infrastructure Income Fund today reported financial results for the year and fourth quarter ended December 31, 2006 and finishes the year on a positive note.
“2006 was a very important year with several key accomplishments as we continued to execute on our growth strategy. Operating results improved in every measure of performance as we benefited [...]
India’s steel industry steps onto world stage
Tata Group’s new status as the world’s fifth-largest steel firm signals a milestone for the Indian economy.
There was much jubilation in India when the Tata Group, an Indian conglomerate, won a bid late last month for the Corus Group, an Anglo-Dutch steel firm. The deal catapulted the new global entity to become the world’s fifth-largest [...]
Northern Michigan investing time into energy
Michael and Tammy Buttigieg live the rustic Northern Michigan life.
Their log cabin home overlooks God’s country, where acres of trees nestle along a flowing creek.
On a recent afternoon, Michael hears the humming.
“It’s music to my ears,” Buttigieg said. “When you do hear it, it’s soothing.”
When the Buttigiegs made the move to Northern Michigan in 1998, [...]
