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London Mining Interest Purchase Colombian Coal-Mine Exploration and Production
London Mining announces today the purchase of 20% of International Coal Company Ltd. (ICC) for an aggregate consideration of $5m, with first rights of refusal to invest further capital. ICC is a Cayman Islands incorporated company with operations in Colombia, South America. ICC’s strategy is to become a fully integrated developer of coal properties for [...]
Rusian Mining Exploration Company, Russia’s Norilsk Nickel Stretches From Arctic to SA, US to Australia
In July 2007, a Canada-domiciled mining company was acquired by a Russian group for $5,2-billion. That company was LionOre, and it had assets in Southern Africa – an 85% share in Tati Nickel, in Botswana, and a 50% stake in Nkomati Nickel, in South Africa.
LionOre’s buyer was the giant Russian mining and metallurgical group, OJSC [...]
Iron Ore Mine Producer, Vale Reported Earning 22% on Record Iron-Ore Prices
Vale is the biggest exploration and producer iron ore, reports earnings advantage of company iron ore sales revenue increases 22%. Net income rose to $5.01 billion, or $1.02 a share, from $4.095 billion, or 85 cents, a year earlier. The results topped the average estimate of 91 cents a share from eight analysts surveyed by [...]
China Coal Mine Production, Coal Coke Prices 300 yuan a Tonne
Chinese coke producers have hiked prices for June, due to soaring coking coal prices, adding pressure to steel mills already struggling with surging iron ore prices, traders and analysts said.
Many producers in Shanxi, China’s top coal and coke producing province, raised coke prices by 300 yuan a tonne. Price of first-grade metallurgic coke reached around [...]
China National Gold Group Corp. Buy Asset Mining Exploration Ivanhoe Mines-Jinshan Gold Stake
For long-term strategic and advance bussiness in China area mining exploration, Ivanhoe Mines will selling its 42% controlling interest in Jinshan Gold Mines Inc. to China National Gold Group Corp., a government-owned mining conglomerate.
This statement from Ivanhoe chairman Robert Friedland :
This is the first step toward the formation of a long-term strategic partnership between Ivanhoe [...]
Grants looks to reclaim title of “Uranium Capital of the World”
It might have been the tombstone for an industry.
The neatly inscribed chunk of rock 25 miles north of Grants marks the final resting place of about 7 million dry tons of tailings – the finely crushed radioactive leftovers of extracting uranium from rock – from the mill site at Ambrosia Lake.
It’s meant as a warning [...]
Hwange coal production likely to decline
COAL production at Hwange Colliery Company is expected to decline following a technical failure on a major generator on its dragline.
Coal supply bottlenecks have resulted in reduced supplies to the Hwange Thermal Power Station, which has triggered massive nationwide load shedding.
In a statement, Hwange said the fault on the dragline developed on Sunday and the [...]
BP tries to regain some standing in the world of oil production
It sits, all four miles of it, still unused, on supports about 7 feet high.
And depending on who’s talking, this new section of transit pipeline on Prudhoe Bay — the nation’s largest producing oil field — is either a daily reminder of past maintenance neglect or it represents a decades-long commitment to the future of [...]
NovaGold Second Quarter Financial Results and Project Update
NovaGold Resources Inc.today announced its financial and operating results for the three months ended May 31, 2007, along with an update on the Company’s project development activities. Details of the Company’s financial results are described in the unaudited consolidated financial statements and Management’s Discussion and Analysis which, together with further details on each of the [...]
