Mining Exploration News

Russian largest natural gas producer, Gazprom reported profits in the first quarter increased tripled. Factors affecting the natural gas producers increased revenue due to increased gas demand for households and increase gas demand from Europe country. Increasing demand for gas due to cold weather, so the households need heaters that use natural gas.

Reportedly, Gazprom’s net profit rose to 325 billion rubles from 103.7 billion rubles last year. Profit earned this year exceeded the average forecast by analysts. Analysts expect profit gain can be achieved by Gazprom amounted to 316.4...

Increasing gold prices to motivate every gold mining company to increase gold mines exploration project and gold production. Several global gold mining companies improve their exploration of gold mines in South Africa and Zimbabwe.

Zimbabwe is one country that has the largest potential gold mines. Largest gold mining company, invested heavily in finding new resources of gold mines in Zimbabwe.

Zimbabwe produced 4.03 tonnes of gold in the first half of the year and is on course to double last year’s output despite regular disruptions to electricity supplies.

Gold production...

Russian’s largest steelmaker company, OAO Severstal plans to acquire companies engaged in steel industry sectors and mining companies, including gold mining exploration company.

Severstal is also one of the largest gold mining exploration companies both in Russia. The company is controlled shares in gold mining company Crew Gold Corp. Severstal to increase its stake in gold mining companies High River Gold Mine Ltd. amounted to 70.4 percent in August this year.

Severstal has opportunity to develop their business in the mining sector, especially gold mining exploration because...

Ministry of Coal Industry of Ukraine reported production of coal from the coal mining company for eight months (January-August period of 2010) increased by 3.1 percent. Total coal production for a period of eight months to reach 49.2 million mt.

Coal production during the period January-August

Coking coal production fell by 3 percent. Total coking coal production of 3.16 million generated mt. While coal for electricity generation increased by 6.5 percent. Total coal production for electricity generation amounted to 32.8 million mt. Production of coal for electricity...

Shale gas exploration activities in Quebec, St. Lawrence Valley got a challenge from environmental groups and communities in the areas of gas exploration areas. Environmental groups and communities around called for moratorium on gas exploration until the issuance of exploration permits on security processes and drilling natural gas exploration in the Quebec region. But the government refused to stop the project and drilling natural gas exploration in the Quebec region.

Several companies involved in the Quebec shale gas exploration launched a campaign to convince gas exploration and drilling...

U.S. Natural Gas, a company engaged in the energy sector, exploration and development of oil and gas in the Appalachian Basin.

President of U.S. Natural Gas said the U.S. Natural Gas plans to acquire 120 acres of mineral rights in Wayne County, West Virginia. This acquisition provides an opportunity for companies to expand drilling in the targeted areas future.

The company plans to drill on each parcel of land to a depth of 5,000 feet. Each parcel of land will be surrounded by highly productive wells. However, U.S. Natural Gas exploration and production has not been done on parcels...

Press Trust of India reported mining companies and steel manufacturers to form India’s NMDC, which will develop plans and proposals to acquire coal mines in the countries of Mozambique, Russia and the United States. NMDC early stages of the process will make the coal mines outside India.

NMDC has submitted a proposal to the government of India to acquire 70 percent of coal mines in Australia with the acquisition value of U.S. $ 230 million. Coal mines to be acquired is owned mines Arlas Iron, Perth.

NMDC is also planning to acquire coal mines in Russia. Acquired coal mines...

Reg Energy Corp. reported, one of Japan’s largest trading companies, Sumitomo Corp. agreed to pay $ 140 million for 30 percent stake Reg Energy Corp. in the gas business in the Marcellus Shale region, United States.

Sumitomo plans to invest about $1.2 billion in the project during the next ten years, it said today in a statement on the company’s website. Sumitomo’s Summit Discovery Resources II LLC unit will pay about $88.4 million in cash for the stake and a further $52 million toward drilling costs, Rex Energy said in a statement yesterday.

Japanese trading companies...