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China Shenhua Energy to Continue Bid Coal Exploration Projects in Tavan Tolgoi, Mongolia
China Shenhua Energy Co Ltd said it is still in the running for a stake in Mongolia’s massive Tavan Tolgoi project, adding a new twist in the long-running tussle for what has been billed the world’s largest untapped coking coal resource.
Shenhua’s President Ling Wen’s comments on Tuesday came after Mongolia said it had cancelled the [...]
Oil and Gas Company Plans : Royal Dutch Shell to Boost Oil Production, Closes Petrol Stations and Cuts 2,000 Jobs
Royal Dutch Shell plans to exit 35pc of its petrol station markets, reduce refining capacity by 15pc, cut around 2,000 jobs by end of 2011, make cost saving of $1bn this year and sell non-core assets worth $1bn-$3bn a year.
“The company had become too complicated and slower to respond than we’d like. So we are [...]
Oil and Gas Company Financial Report : American Oil & Gas Plans Acquisition and Development Oil and Gas Properties
American Oil & Gas Inc. reports a net loss to common stockholders of $10.3 million (loss of $0.21 per share, basic and diluted) for the year ended December 31, 2009 (”2009″), as compared to a net loss to common stockholders of $24.2 million (loss of $0.51 per share, basic and diluted), for the fiscal year [...]
Royal Dutch Sheel Enter New Period of Growth Oil And Gas Production
Anglo-Dutch oil major Royal Dutch Shell PLC said Tuesday it was entering a new period of growth that would lead to significantly higher cashflows on the back of higher oil and gas output and reserves.
It also signaled expectations for oil prices to remain high.
Shell, which has some 11 billion barrels of oil equivalent of new [...]
Gold Mining Company Financial Results : Gold-Ore Successful Transition to Profitable Gold Production
Gold-Ore Resources Ltd. announces that it has released its financial results for the year ended November 30, 2009. The Company’s audited consolidated financial statements and management’s discussion and analysis for the year ended November 30, 2009 are available.
Sasol Coal Mining Company to Build New Coal Mine Exports
Coal mining company Sasol has allocated R3,1-billion for the new export coal mine to replace the depleting Twisdraai operation.
The Thubelisha export coal mine, already under construction, will also supply Sasol’s synfuels factory in Secunda, in Mpumalanga province.
Sasol Mining’s output in the six months to December 31 was up 6%, but its profit of R170-million was [...]
Australian Iron Ore Sales Expected to Increase 21 Percent
Australia, the world’s largest iron ore exporter, is forecast to boost sales 21 percent next fiscal year as prices gain.
Exports may be A$35 billion ($31 billion) in the 12 months ending June 30, 2011, from A$29 billion this year, the Canberra- based Australian Bureau of Agricultural and Resource Economics said today in a report. Total [...]
Newmont Mining Gold Producer Reports Earnings Exceed Estimates
Newmont Mining Corp. is one of the largest gold producers in the world. The company reported profits until the fourth quarter sharp jump in excess of Wall Street estimates, the company’s revenue doubled on record prices for precious metals.
Gold production generated by Newmont rose 10 percent on the year and estimated gold production in 2010 [...]
Chinese Return to Market, Iron Ore Spot Prices Up 5 percent
Spot iron ore traded 5 percent higher when Chinese players returned to the market after week-long holidays, market sources said on Tuesday.
Traders reported one Capesize cargo of 62 percent Pilbara iron ore changed hands on Monday at $136 a tonne on a Cost Insurance Freight China basis, while a 50,000-tonne cargo of Indian material grading [...]
