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Venezuela and Russia Begin Drilling for Gas in the Gulf of Venezuela
On Friday, the Venezuelan state oil company PDVSA and the Russian company Gazprom began drilling for gas in the Gulf of Venezuela. Government officials from both energy giants further concretized an alliance with cooperation agreements in a wide variety of areas, including nuclear energy, gold mining, and flights between the two countries.
Venezuela and Russia Initiate Gas Exploration and Expand Strategic Alliance
the Venezuelan state oil company PDVSA and the Russian company Gazprom began drilling for gas in the Gulf of Venezuela. Government officials from both energy giants further concretized an alliance with cooperation agreements in a wide variety of areas, including nuclear energy, gold mining, and flights between the two countries.
Brazil Mining Exploration Company Iron Ore Sales Hit Record
Brazil’s Vale, one of the world’s top three mining companies, said on Thursday its third-quarter net profit rose sharply as gross revenues and iron ore sales hit records but nonferrous metal sales slumped, Reuters reported.
Net profit rose to $4.8 billion, up 64 percent from the same period last year but down 3.8 percent from the [...]
Copper Mine Price Down But a Long Way From Out
While tumbling copper prices have caused some of the world’s largest producers to retrench, startup copper mining projects such as the Rosemont mine southeast of Tucson are moving ahead with optimism.
“We are proceeding forward with no change in our development plans,” said Gil Clausen, president and CEO of Augusta Resource Corp., which is developing the [...]
Coal Mining Company, Arch Reports Mining Operation 3Q
Arch Coal Inc., one of the world’s biggest coal producers, reports earnings for the third quarter before the market opens Monday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW
The coal sector benefited from booming prices of the fossil fuel used in steel-making and in boilers to produce [...]
Copper, Nickel Extend Declines on Lower World Demand for Metals
Copper fell to a three-year low and nickel dropped to the lowest since 2003 on speculation that a global economic slump will curb demand for metals from investors who had helped send commodities to a record in July.
Copper fell below $4,000 a metric ton in London for the first time since October 2005, and the [...]
Buffalo Signs M.O.U. To Growing A Gold Mining Company
Brian McEwen, President and CEO of Buffalo Gold Ltd. is pleased to announce that the Company has signed a Memorandum of Understanding (M.O.U.) with China Railway Resources Co. LTD. (”CRRC”), a wholly owned subsidiary of China Railway Group Limited (”CREC”) (www.crec.cn) to invest directly into the Company as well as finance the Mt Kare project [...]
Mining Companies Expand Exploration and Problems
o tarnish the already notorious Chinese mining industry frequented with disastrous accidents, Bloomberg Markets further highlights the problem of child labour involving Chinese-based companies in South Africa in their recent special report (for the complete article, click here). Whilst mining companies are pouring in a huge sum of investment which gives them the permit to [...]
Coal Mine Exploration and Development, Kailuan Clean Agreement With Canada Dehua International Mining to Develop Canadian Coal Mine
It is reported that Kailuan Clean Coal, located in China’s Hebei Province, has signed a JV agreement with Canada Dehua International Mining in Beijing to develop Gething coal mine in Canada.
The total investment to mine prospecting will be USD 50.5 million in which Kailuan clean coal will put USD 5.5 million in cash and Dehua [...]
