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]
Marathon Sets 2010 Capital, Investment and Exploration Budget
Feb/03/2010 | Under : Companies - Crude Oil - Exploration - Oil and Gas Drilling - Petroleum
Marathon Oil Corporation today announced a $5.1 billion capital, investment and exploration budget for 2010, a 17 percent decrease from 2009 capital spending.
“Marathon’s 2010 capital program will focus on Upstream activity, with an emphasis on the development of sanctioned projects, potentially significant exploration wells and advancing our growing resource plays,” said Clarence P. Cazalot, Jr., Marathon president and CEO.
[Read More]
Joint Venture Coal Mining Company MEC Supply Coal To Tata Power
Feb/02/2010 | Under : Coal Mine - Companies - Energy - Trade & Market
Middle East Coal (MEC) is a joint venture between the coal companies United Arab Emirates, RAK Minerals and Metals Investment (RMMI) and the UAE-based mining company Trimex. Middle East Coal (MEC) is in talks with Tata Power, the largest private power company in India. MEC has a source of coal mines that will be produced to supply coal to India.
[Read More]
Brazilian Mining Company Vale Group To Invest at Coal Mining Project In Moatize, Mozambique
Oct/24/2009 | Under : Coal Mine - Companies - Copper Mine - Mineral Exploration
Brazilian mining company, Vale Group is conducting a feasibility study for investing in the Moatize coal mines in Mozambique. The agreement between the governments of Mozambique and the Vale Group, in addition to investing in coal mines, Vale Group is also investing in copper mines in the North Konkola, Zambia.
[Read More]
Asian Markets End Mixed Amid Profit Taking
Oct/18/2009 | Under : Business - Finance - Stock - Trade & Market
Mixed trading was witnessed among the major markets across Asia on Friday as traders preferred to lock in gains following recent rally while the underlying sentiment is buoyant on increased optimism about higher earnings from companies for the recently concluded quarter and the worst for the global economy is over. While the markets in Australia, Hong Kong, China, Singapore and South Korea ended in negative territory on profit taking, markets in Japan, Indonesia, India and Taiwan managed to end in positive territory but well off the day’s high. [Read More]
Rio Tinto Raise Iron Ore Production Forecast on Steel Recovery
Oct/15/2009 | Under : Companies - Iron Ore Mine - Mineral Exploration
Rio Tinto Group, the third-largest mining company, raised its 2009 forecast for iron ore output by as much as 7.5 percent as demand from steelmakers recovers.
Rio will produce 210 million to 215 million metric tons from operations in Australia, Canada and Brazil after a “strong performance” in the second and third quarters, the London-based company said today in a statement. [Read More]