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Glencore International to Buy Back Columbian Coal Unit From Xstrata
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.
Essar Group Purchase Coal Mine of Trinity Coal Corp
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 [...]
TNR Gold Engages Financial Advisor for Its Los Azules Copper Mine Project
TNR Gold Corp. is pleased to announce that it has engaged British Swiss Investment Corp. to undertake a strategic review of TNR’s alternatives for its Los Azules copper mines project located in the San Juan Province of western central Argentina.
Multinational Consortium Buys Shell Oil Assets
The Shell Petroleum Development Company of Nigeria Limited (SPDC) on Friday, agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies.
Mining Company BHP Billiton Iron Ore Production Highest Recorded
Mining company BHP Billiton iron ore production reported from several locations of their iron ore mines to reach the highest rate in the quarter. The highest production of iron ore from the Pilbara region, Western Australia. Production of iron ore from iron ore mines in the Pilbara region of about 54%.
Operational Unit Cost Increase, Xstrata Coal Forced To Cut Purchase Coal Price From Coal Suppliers
Xstrata Coal Queensland complained that the unit operating costs increased from year to year, thus affecting the company’s earnings to continue the purchase of coal from several coal suppliers. To overcome the problems faced by Xstrata Coal Queensland sent a letter to suppliers of coal, Xstrata Coal Queensland that will cut the purchase price of [...]
Exxon to Build $15 Billion Gas Project for Asia
The energy giant is teaming up with partners in a liquefied natural gas project in Papua New Guinea to supply China, Japan and Taiwan.
Exxon Mobil and its partners approved development of a $15 billion Papua New Guinea liquefied natural gas venture, the country’s biggest resource project, to supply the cleaner-burning fuel to China, Japan and [...]
Exxon and Partners Approve LNG Project in Papua New Guinea
Exxon Mobil and its partners approved Tuesday the development of a $15 billion liquefied natural gas venture in Papua New Guinea to supply fuel to China, Japan and Taiwan.
The project is to be the country’s biggest natural resource development.
Construction is to begin in 2010 after the companies complete agreements with their customers and financing arrangements [...]
Yanzhou Coal Mining Takes 1 Billion Tonnes Of Australian Coal
It is reported that Yanzhou Coal Mining Company Limited after two years purchased Australia Southland Coal Mine is making another also the biggest mine purchase in China by buying Felix Resources Limited in Australia and as sources indicate it has made great achievement.
China Investment Corp. Funds $500 million To Canadian Mining Company
China Investment Corp., the Chinese sovereign wealth fund, lends $500 million to SouthGobi Energy Resources.
Toronto-listed SouthGobi Energy Resources yesterday announced that China Investment Corporation (CIC) has agreed to provide a $500 million loan to finance the expansion of the company’s mining and exploration operations in the south of Mongolia.
Australia Approves Yanzhou Coal Mining Company To Aquire Felix Resources Limited
The Assistant Treasurer, Senator Nick Sherry, has today approved the application by Yanzhou Coal Mining Company Limited to acquire full ownership of Felix Resources Limited, conditional upon it complying with legally enforceable undertakings provided by Yanzhou.