Glencore International to Buy Back Columbian Coal Unit From Xstrata
Mar/10/2010 | Under : Coal Mine - Companies - Energy - Mineral Exploration
Glencore International AG, the world’s largest commodity trader, will buy back a Colombian coal unit from Xstrata Plc, setting the stage for an initial public offering that may value the trading company at $35 billion.
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Australia Gold Output Rise : World Second-Biggest Gold Producer
Mar/10/2010 | Under : Companies - Gold Mine - Mineral Exploration
Australian gold output rose 14 percent in the fourth quarter last year, helped by Newmont Mining Corp.’s Boddington mine, confirming the country as the world’s second-biggest producer, a research group said.
Gold production in Australia rose to 62 metric tons during the three months to Dec. 31, Melbourne-based Surbiton Associates Pty said in an e-mailed statement. [Read More]
Nippon Steel Plans Mining Investment in Iron Ore And Coal Mines
Mar/09/2010 | Under : Coal Mine - Companies - Iron Ore Mine - Mineral Exploration
Nippon Steel Corp., Japan’s largest steelmaker, will pursue investments in iron ore and coal mines, joining rivals in a bid to curb costs and secure supplies of the steelmaking ingredients.
The company wants to supply 50 percent of its raw material needs by buying stakes in mines or developing new ones “as early as we can,” Executive Vice President Shinichi Taniguchi said March 4 in an interview in Tokyo. [Read More]
Shell’s Arrow Bid May Spur Australian Coal-Bed Gas Takeovers
Mar/09/2010 | Under : Crude Oil - Energy - Oil and Gas Drilling - Petroleum
Royal Dutch Shell Plc and PetroChina Co.’s A$3.3 billion ($3 billion) bid for Arrow Energy Ltd. may spur more takeovers of Australian producers of coal-bed gas, a growing source of supply for Asian energy importers.
Eastern Star Gas Ltd., a coal-seam gas developer in the Australian state of New South Wales, climbed almost 13 percent to 81 cents in Sydney yesterday after Arrow reported the bid. [Read More]
Crude Oil and Gasoline Prices Begin to Creep Up
Mar/09/2010 | Under : Companies - Crude Oil - Exploration - Natural Gas - Oil and Gas Drilling - Trade & Market
Crude oil and gasoline prices are inching up again. Optimism about the economy, new tensions in oil-producing Nigeria and reports that China intends to build up its strategic reserves lifted crude prices to around $82 on Monday, about a $10 increase in the last month.
Prices at the pump are rising, too, with the average national price for a gallon of gasoline jumping 5 cents in the last week, to just above $2.75.
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Rio Tinto to Invest Mining Exploration Project in Madhya Pradesh
Mar/08/2010 | Under : Companies - Mineral Exploration - Stock - Trade & Market
The Mines Ministry is likely to give an in-principle approval to global giant Rio Tinto for its diamond mining project in Madhya Pradesh in which the London-based firm is looking to invest around Rs 2,200 crore.
“The Madhya Pradesh government has already recommended mining lease to Rio Tinto’s Bunder project and now the Centre may clear it in the next 10-15 days,” a senior Mines Ministry official told PTI today.
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Gold and Copper Exploration Companies Poised to Shine in 2010
Mar/08/2010 | Under : Copper Mine - Gold Mine - Stock - Trade & Market
Shares of gold and copper exploration companies are the most likely to shine in the Canadian junior mining sector this year, as large miners raise their exploration budgets and scout for promising projects.
Small-cap stocks on the TSX Venture exchange enjoyed a strong run last year with the S&P/TSX Venture Composite Index gaining more than 90 percent through the course of the year.
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Essar Group Purchase Coal Mine of Trinity Coal Corp
Mar/08/2010 | Under : Business - Finance - Coal Mine - Companies - Stock - Trade & Market
Essar Group said its purchase of Trinity Coal Corp., the Indian company’s first overseas coal mine acquisition, will help lock in raw materials with coal and iron ore prices poised to rise as the global economy recovers.
The $600 million buyout of West Virginia-based Trinity raises Essar’s total U.S. investment to $4 billion, Chief Executive Officer Prashant Ruia said. [Read More]