Australian Sharemarket Close Week 3 percent Higher
May/31/2010 | Under : Business - Finance - Stock - Trade & Market
The Australian sharemarket closed three per cent higher for the week, as middling-to-positive leads from European stocks and Wall Street culminated in a solid weekly close, after China rejected reports it was considering reviewing its European bond holdings.
For the week, the benchmark S&P/ASX200 index gained 3.15 per cent to 4,457.5 points, while the broader All Ordinaries index jumped 7.58 per cent to 4,479 points.
AMP Capital Investors chief economist Shane Oliver said it looked like a correction in equities and commodities prices was under way, and a decent rally was beginning.
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Moly Mines Investment Gets Final Approval From China Government
Mar/17/2010 | Under : Companies - Investment - Metals & Mineral - Mineral Exploration - Steel Industry
A major investment by a Chinese company puts a big mining project near Eureka back on track.
General Moly Mines Ltd. expects to begin mining construction of its Mount Hope molybdenum mine in early 2011, with production scheduled to begin 20 months later.
Construction employment is projected to average more than 700 workers, with peak employment near 1,000. General Moly has said the mine will employ 400 people when it’s in operation.
The project had been on a slow track until General Moly reached agreement with Sichuan Hanlong Group about 10 days ago.
The Chinese company will make an $80 million equity investment in General Moly, taking a 25 percent stake in the company headquartered at Lakewood, Colo. [Read More]
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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JPMorgan Rating on Japan’s Banks : Mining Companies Climb on Higher Metal Prices
Mar/05/2010 | Under : Companies - Copper Mine - Gold Mine - Stock
Asian stocks climbed for a second day as JPMorgan Chase & Co. boosted ratings on Japan’s largest banks and as mining companies climbed on higher metal prices.
Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc. advanced more than 1.5 percent in Tokyo. Jiangxi Copper Co. surged 5.8 percent in Hong Kong as copper prices jumped after an earthquake in Chile cut supplies from the world’s top producer of the metal. [Read More]
Dubai Index Rises to Week-High as U.S. Growth Spurs Oil Gains
Feb/28/2010 | Under : Crude Oil - Oil and Gas Drilling - Petroleum
Dubai shares climbed to the highest level in almost a week as oil gained on prospects for increased fuel demand in the U.S. after the economy of the world’s biggest energy-consuming country grew the most in six years.
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Jameson Resources Finalising Feasibility At Basin Thermal Coal Mine
Feb/03/2010 | Under : Coal Mine - Companies - Exploration - Trade & Market
Jameson Resources is preparing to wrap up the company’s feasibility on expanded mine case at the Basin Thermal Coal Mine in British Columbia, Canada next month, according to its latest quarterly report.
The Company together has identified opportunities for revised operating cost assumptions in an expanded mine case scenario with a relatively minor impact on start up capital.
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Mozambique Approved Environmental Impact Study To Build Coal-Fired Power Plant In Benga, Tete
Feb/02/2010 | Under : Coal Mine - Companies - Energy - Exploration
Mozambique Government has approved the environmental impact study for the construction of coal-fired power plant in Benga region, Tete Province. Development of coal-fired power plant will be done by Riversdale mining company. Project coal-fired power plant using coal as Benga energy power plants. Development of coal-fired power plant carried out in two stages. [Read More]