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Mexico Mining Boom
Regional myopia is a widespread failing. Say “ Mexico” in Europe and the word game usually brings up “holidays”. The other side of the Atlantic it would probably be “cheap labour”. Only in Canada is “mining” Mexico’s main claim to fame. Yet Mexico is one of the oldest mining countries in the world, and it [...]
Massey considers raising high-end coal production
Massey Energy Co. is considering options for increasing the production of high-dollar metallurgical coal in hopes of taking advantage of strong demand from the steel industry.
Surging sales of so-called met coal helped the Richmond, Va.-based company increase its profit to $34.9 million in the second quarter, compared with $3.2 million in the same period of [...]
Early-stage mines promise pockets of value
Mining shares listed on Aim, London’s junior market, are seeing the fifth consecutive year of a bull market but unexploited pockets of value still remain, according to a new report on the sector.
The report, by Edison investment research, argues that several Aim-listed mining companies have now kept their promises of building mines or are close [...]
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 [...]
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 [...]
Economy straining China’s coal reserves
China’s rapidly growing economy is placing unprecedented pressure on supplies of coal, prompting a debate about whether the country is poised to make an historic change to become an importer of its staple fuel.
High local prices and transport bottlenecks resulted in China becoming a net importer of coal for the first time ever in the [...]
U.S. mining co. denies link to killings
An Alabama mining company on Thursday denied having any relationship with right-wing death squads in Colombia and said it has no intention of settling a related U.S. lawsuit.
A federal judge in Alabama last month allowed a civil suit to go forward against Drummond Co. Inc. for allegedly paying a hit squad to kill three [...]
Pacific Asia China Energy Inc.: PACE Mitchell Drilling Corp. Signs AU $10 Million Degasification Contract in China
PACIFIC ASIA CHINA ENERGY INC. announces that its joint venture drilling subsidiary, PACE Mitchell Drilling Corp. and its marketing partner in China, Australian Mining Services International Pty Ltd (”AMSI”), have participated in the signing of a multi-company degasification contract with the Shenhua Ningxia Coal Group, a unit of Shenhua Group Corp. Shenhua Group Corp is [...]
Metal Merger Mania
Whether or not BHP Billiton or Rio Tinto buys Alcoa for $40 billion, as the stock market rumor machine has it, a deal of that scale in the metals industry is a question of when, not if.
The same forces of consolidation that drove the oil industry’s megamergers in the late 1990s are at work today. [...]
