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Peru Gold Mining Company, Minera IRL To Acquire 75% Stake in Chile
Peru gold miner Minera IRL said on Tuesday it has an option to acquire a 75 percent stake in the La Falda porphyry in the Maricunga gold belt of northern Chile, which comprises mining and exploration permits of 15 425 ha (38 116 acres).
Pike River Coal Report Mining Exploration Result at West Coast
Pike River Coal said today it has struck coal at its West Coast mine after two years of tunnelling to reach one of the most valuable coal deposits in the country.
Tunnellers cut through the last few metres of an access tunnel stretching nearly 2.3km under the Paparoa Range to intersect with the Brunner seam of [...]
Coal Mining Exploration Growth and Mine Investment Oppurtunity in South Africa
More coal burning than production, race to mine potash hots up, redemptions hitting mining stocks
South Africa Is burning coal at a rate greater than production, says Keaton Energy CEO Paul Miller on page 18 of this edition of Mining Weekly.
Miller says that local coal production growth has effectively been zero for the last three years [...]
Iron Ore Mine Exploration Company, Dempo Group To Sell 40% Stake In Iron Ore Firm
Sale to fund expansion plans after restructuring.
Goa-based Dempo Group is planning to divest 40 per cent in a company that will house its 100-million-tonne iron ore reserve. The group’s iron ore reserves are currently with the flagship V S Dempo & Co Pvt Ltd, and its two subsidiaries Dempo Mining Corporation and Sindhudurg Mining Corporation.
The [...]
Indonesian Mining Coal Mine Exploration $1.3 bln IPO gets OK for next week
The $1.3 billion initial public offering of PT Adaro Energy Tbk, Indonesia’s second-biggest coal miner by output, will go ahead this week after obtaining approval from the regulator, the lead underwriter said late on Friday.
The offering, Indonesia’s biggest, was delayed as the capital markets regulator Bapepam requested clarifications.
Some critics have complained about the proposed allocation [...]
Oil India Files Prospectus for IPO
Oil India has filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of up to 2,64,49,982 equity shares of Rs 10 each for cash at a price to be decided through 100% book-building.
The issue comprises a net issue to the public of up [...]
First Uranium to double gold capacity
Toronto and Johannesburg-listed First Uranium Corporation on Monday reported net income of $3.1-million for the three months ended September compared with $0.8-million for the same period a year ago.
Net income for the first half was $8.5-million compared with a net loss for the prior fiscal year of $1.5-million.
The company said this primarily reflected expenditures in [...]
Equinox Minerals Nears Debt Drawdown Time
Emerging copper producer Equinox Minerals has put a final touch on financing for its 100%-held Lumwana copper project in Zambia by securing a credit facility for contingent costs.
Equinox said the $45 million facility would only be used if cost overruns or other contingent obligations were encountered at the $847 million project, where mine commissioning was [...]
TransAtlantic Petroleum Corp.: SGU 96 Well Successfully Completed in Big Gas Sand
TransAtlantic Petroleum Corp. is pleased to announce that the SGU 96 well at the South Gillock property in Galveston County, Texas has been successfully completed and tied in to the gas sales line.
The SGU 96 well, in which TransAtlantic holds 100% of the working interest (77% net revenue interest), is currently producing 1 million cubic [...]
