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Nigeria Develops New Legal and Regulation for Mining Exploration and Industry
Nigeria has developed a new legal and regulatory framework for mining, in addition to carrying out a number of institutional reforms, the country’s Minister of Mines and Steel, Deziani Allison-Madueke, said here Friday.
Nigeria Expand and Develop Mineral Mine Exploration Make Regulation for Mining Exploration
Federal Government has identified seven minerals for national development, inister of Mines and Steel Development, Chief Sarafa Isola, said in Abuja yesterday.
He told the News Agency of Nigeria (NAN) that the minerals were Gold, Lead/Zinc, Barite, Bitumen, Limestone, Coal and Iron Ore. Isola said that Nigeria was well-endowed with myriad of solid minerals, but that [...]
Sheel Oil Mining Exploration at Nigeria Reported : Exploration Activity Losing 30,000 barrels per day
Oil major Royal Dutch Shell said Saturday it was losing the equivalent of 30,000 barrels of crude oil per day because of recent attacks against its installations in Nigeria.
The unrest in Nigeria, Africa’s biggest oil producer, helped drive oil prices to a record high above 126 dollars on Friday, analysts said.
The loss in production translates [...]
Oil Drops on Lower Demand Forecast
The price of crude oil extended its slide today after a prominent energy group lowered its estimate for worldwide oil demand, saying high prices were harming consumption.
Oil was down nearly $3 in midday trading in New York, at $91.72 a barrel. Last week, oil futures reached a high of $98.62 a barrel. Oil prices, which [...]
World Bank Satisfied With Growth in Mining Sector
Citing the on-going air borne geo-physical survey, new mining law and $120 million grant for small-scale miners, the World Bank has said Nigeria’s mining sector is growing well.
Mr Craig Andrews, Lead Mining Specialist, World Bank, gave the verdict at the weekend, after a meeting with the Minister of Mines and Steel Development, Mr Sarafa Isola.
Andrews [...]
Crude Oil Ouput Increas in Gulf of Mexico
Crude oil fell for a second day as companies increased output at platforms in the Gulf of Mexico after a storm threat passed.
BP Plc, Royal Dutch Shell Plc and other oil companies sent workers back to the Gulf after a tropical depression made landfall without becoming a storm. Oil in New York rose to a [...]
OphiraVencap Inc. Announces Proposed Qualifying Transaction with North Sea Energy Inc.
OphiraVencap Inc. (”OPHIRA”) announces that on July 27, 2007 it signed a Letter of Intent (the “Letter of Intent”) with North Sea Energy Inc. (”NORTH SEA”), an arm’s length party, for the potential acquisition of all the issued and outstanding shares of NORTH SEA whether directly, by way of three cornered amalgamation, or by merger [...]
Gold futures rise, set to break a two-session losing streak
Gold futures climbed Friday, ready to recoup about half of the nearly $9 an ounce they lost over the prior two trading sessions and log a gain for the week.
Growing concerns over terrorist activity and strength in oil prices boosted the metal’s appeal as an investment hedge, eclipsing mixed trading in the U.S. dollar.
“The combination [...]
Uranium Funds Points to Near-Term U3O8 Price Decline
Nuclear Market Review [NMR] editor Treva Klingbiel reported in this week’s issue, “Two sellers that were evaluating bids in response to their auctions have concluded their evaluations and have decided not to sell at this time.” She added, “Both sellers preferred to make delivery in June while most bidders were seeking delivery for several months [...]
