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Chinese Demand Coal and Iron Ore Effect Australian Mining Boom
Australian Mining Boom Stokes Profits, Narrows Record Deficit
Australia’s mining boom, stoked by Chinese demand for coal and iron ore, helped boost company profits by the most in more than seven years and narrow the nation’s current account deficit from a record.
Company profits advanced 14.3 percent in the second quarter, more than six times the 2.3 [...]
British giant B Group $12.9 billion bid for Origin Energy
BRITISH giant BG Group has launched the biggest-ever foreign takeover in the Australian energy sector with a $12.9 billion bid for Origin Energy.
The unsolicited bid, which will require the approval of the Foreign Investment Review Board, comes as companies from resource-hungry countries such as China pursue takeovers across the Australian mining and energy sector.
Origin Energy [...]
Mexico Mining Boom
Regional myopia is a widespread failing. Say “ Mexico” in Europe and the word game usually brings up “holidays”. The other side of the Atlantic it would probably be “cheap labour”. Only in Canada is “mining” Mexico’s main claim to fame. Yet Mexico is one of the oldest mining countries in the world, and it [...]
Utah Oil Promising Alternative Oilfield Source
Years of rising energy demands have significantly depleted traditional and easily-acquired energy resources, even as large deposits of unconventional resources have remained undeveloped due to the high expense and complicated technology involved in extracting them. But with the price of crude oil and gasoline up and supply shrinking, nontraditional resources are being seriously considered as [...]
Koperberg denies labelling clean coal an ‘oxymoron’
Environment and Climate Change Minister Phil Koperberg has attempted to explain his comments that clean coal was almost an oxymoron.
The Greens accused the Minister of breaking ranks with one of the New South Wales Government’s major climate change platforms.
Greenpeace’s energy campaigner Ben Pearson defended the comments of Mr Phil Koperberg who has previously described the [...]
Coal-to-liquids project advances
Peabody Energy Corp. has pledged nearly 1 million tons of coal a year and up to $10 million in development funds to an Illinois plant that planners say would be the first in the nation to commercially turn coal into liquid fuels for big-rig trucks, buses, barges or jets.
St. Louis-based Peabody, as part of the [...]
Barrick Has First Quarterly Loss Since 2001 on Hedges (Update1)
Barrick Gold Corp., the world’s largest gold producer, reported its first quarterly loss in more than five years as the company incurred $557 million in costs to exit sales contracts at below-market prices.
The first-quarter net loss was $159 million, or 18 cents a share, compared with net income of $224 million, or 29 cents, a [...]
Arctic nickel miners recall Soviet days fondly
Underpaid and isolated from an increasingly affluent Russia, workers are steadily leaving the nickel operations of Norilsk, and some of those who remain look back fondly on Soviet days.
But Mikhail Prokhorov, one of the two men who have become billionaires since buying Norilsk Nickel for a song a decade ago, has a parting gift for [...]
Texas coal-fired plants concern Oklahoma citizens
Senator Jay Paul Gumm, and the Citizens Organizing for Resources and Environment, spoke out against the construction of the coal-fired power plant that TXU purposes to build in Fannin County. Experts in several scientific and health fields spoke to approximately 60 people in the Fine Arts Building at Southeastern Oklahoma State University Thursday. They [...]
