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India Mining Industry Will Reach a Total Value of US$45.40Bn


India is home to a myriad of metals and minerals. Globally, the country is the largest producer of sheet mica, the third largest producer of coal, the fourth largest producer of iron ore and the fifth largest producer of bauxite. Besides these natural resources, India also hosts significant reserves of copper, zinc,
gold and about 26 [...]

Future Mineral Exploration and Mine Industry in Russia During a Global Crisis


Russia auctioned its biggest mining company a decade ago when it was strapped for cash. It’s using the global credit crisis to regain control of OAO GMK Norilsk Nickel as economic turmoil forces U.S. and European governments to bail out their own corporations.

Sterling Firm Exports To Nigeria And Beyond


The international transaction between a Sterling and Nigerian company began with an e-mail inquiry.
Kayode Thomas, the Nigeria- and UK-based CEO and managing director of Bell Oil & Gas, contacted Inovex Industries about distributing its Virginia-made products in the oil-rich west African nation. Thomas found Inovex online and wanted to distribute its tire sealants first in [...]

ONGC Mittal Energy to sign accord for Turkmenistan block


The Oil and Natural Gas Corporation Mittal Energy Limited (OMEL) is in an advanced stage of signing a farm-out agreement for an exploration block in Turkmenistan. It has also bid for an offshore block in Trinidad and Tobago and is looking for opportunities in Kazakhstan, Azerbaijan and Indonesia.
ONGC chairman R.S. Sharma said negotiations on the [...]

Deep Down Executes LOI to Acquire ElectroWave USA


Deep Down, Inc. today announced it has signed a letter of intent to acquire ElectroWave USA, an electronic monitoring/control system designer and manufacturer serving the energy, military, and commercial sectors, located in Houston, Texas.
“We are excited to have an executed letter of intent to acquire ElectroWave,” commented Ron Smith, Deep Down’s chief executive officer. “The [...]

Russia’s industrial output grows 3.9% in 2006


Russia’s industrial output grew 3.9%, year-on-year, in 2006, the country’s top statistics body said Monday.
The State Statistics Service said industrial production increased 1.9%, year-on-year, and 4.9%, month-on-month, in December 2006.
Industrial output expanded more slowly in December 2006 compared with December 2005, as heat generation fell 8.2% due to warm weather, the service said.

U.S. Stocks Drop on Slide in Oil, Gold Prices; Chevron Falls


Commodity producers dragged down U.S. stocks as prices for oil and gold fell.
Chevron Corp., the second-biggest U.S. oil company, led energy shares lower as crude approached an 18-month low and the company said falling prices will hurt its fourth-quarter earnings. Newmont Mining Corp., the world’s third-largest gold producer, slid on the precious metal’s first [...]

Russia spins global energy spider’s web


The vast bulk of the world’s oil, gas and strategic minerals resources either is coming under or is already under the control of authoritarian, or less-than-democratic, or leftist, or otherwise radical regimes either with a decidedly anti-Western political stance and ideology or pointedly decreased sensitivities to strategic US interests.
It is difficult to name more than [...]

Move over, Fortune 500


o many Americans, names like Ranbaxy, Reliance and L&T probably don’t ring a bell. For that matter nor do Enbraer, Cemex or Galanz. But then a host of Japanese (Toyota, Honda) and South Korean (Samsung, LG) companies were largely unknown in the 1960s and 1970s and were dismissed as no-hopers by their competitors from the [...]