Sentry Petroleum has inked the final agreement with Depco Drilling to supply a drilling rig and workforce for its future coal seam gas drilling campaign in ATP 862 and 864 in Queensland Australia.
WestSide is the operator of the Meridian SeamGas CSG gas fields and has begun drilling at the MER05X exploration well in PL 94 close to Moura. It continues the momentum of the present reserve development program.
State run Brazilian steel maker CSN has announced first quarter profits as Net Income rose by 617.5 million Brazilian reais, a bit short of estimates of 677 million reais profits as expected by financial analysts. The Rio de Janeiro based company said that profits in the first quarter were up by 38%.
The state government of New South Wales plans a tough new interim assessment regime for mining and coal seam gas extraction applications. The interim policy is applied in regional areas to help reduce the conflict between agriculture and tourism and the fast developing coal and coal seam gas industries.
In Western Australia the government is hoping to protect the wine growing area of Margaret River from mining by setting up new laws. WA’s Environmental Protection Authority (EPA) recently denied LD Operations permission for a coal mine in the region. EPA chairman Dr Paul Vogel said that the proposal was fundamentally and fatally flawed.
U.S. coal producer Alpha Natural Resources has been in the news after it announced the deal to buy Massey Energy in January for $7.1 billion. The company recently announced a large increase in quarterly profits as well. However profits fell short of what analysts expected.
Coal mining acquisitions see Arch Coal buying out International Coal Group for $3.4 billion. This will allow Arch Coal to boost coal production for steelmaking grade coal and benefit from the soaring prices and global demand. It will also make Arch Coal the second largest U.S. producer of metallurgical coal by nearly doubling its production by 2015.
After months of anticipation and waiting Rio Tinto finally gets its hands on Riversdale Mining. Having taken control of the company Rio Tinto has moved to delist Riversdale Mining from the Australian Securities Exchange.
Sentula Mining and Shanduka Resources have decided to merge and form a strong mid-tier coal producing and mining services company. An announcement to this effect was made last week. 627 million new Sentula Mining ordinary shares shall be allotted to Sanduka Resources.
Riversdale Mining is being taken over by Rio Tinto but Tata Steel will continue to hold a stake in the coal mining company. B. Muthuraman the Tata Steel Vice Chairman said on Monday that the company would not divest its stake in the Australian miner currently being acquired by Rio.
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