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India's Sesa Goa to Buy Liberian Iron Ore Mining Company

Sesa Goa, India's largest producer and exporter of iron ore in the private sector, is to acquire 51% stake in Western Cluster Ltd for a cash deal worth $90 million.

From Sesa Goa Iron Ore 8 Aug 2011

Report: The Top 10 Business Risks for Mining and Metals

The biggest business risk for global miners is from resource nationalism. When the governments around the globe decide that they want to keep the profits of the blooming mining industry to themselves it is the multinationals who will suffer the most as per a new report from financial institution Ernst & Young, ‘Business risks facing mining and metals 2011–2012’.

8 Aug 2011

Gulfmark Resources Applies for Permits to Drill Primary Eagleford Shale Well, Texas

Gulfmark Resources, a subsidiary of Gulfmark Energy Group, has applied for the drilling permits to the Texas Railroad Commission. The company has planned to drill the primary test well at the Kiefer Lease having 4,261 acres in Zavala County, Texas, after receiving the permit drilling program.

8 Aug 2011

Samaranta Mining Reports Initial Airborne Survey Results from Guadalupe Property

Samaranta Mining has proclaimed that MPX Geophysics (MPX) of Markham Ontario has completed the Gamma Spectrometer and Helicopter Magnetometer survey of 501 line kilometer at four individual Samaranta properties, comprising the Guadalupe property, which is contagious to the northern border of the Colombia-based Frontino Gold Mines in Antioquia.

8 Aug 2011

Trafina Energy Drills Third Vertical Evaluation Well in McMullen

Trafina Energy has performed drilling, coring, testing and casing at its third well in northeastern Alberta’s McMullen region. Trafina Martin Hills located at the 11-28 well was rig-released.

8 Aug 2011

Reserve Bank of Australia Confident Economy WIll Pick Up

The Reserve Bank of Australia (RBA) issued a quarterly statement on Friday to the effect that economic growth in the country would be pick up over the next couple of years but would face serious challenge from inflation which is expected to increase to 2-3% by the end of 2013.

7 Aug 2011

Rio Tinto Unveils Bumper Profits

Mining giant Rio Tinto has a ‘bumper’ $7.6 billion first half net profit. The record profit is linked to the steadily rising prices of commodities which are being driven by demand from Asian nations.

From Rio Tinto plc 7 Aug 2011

Zone Resources Completes Airborne Survey at Labrador Trough

Zone Resources is in the trade of purchasing and assessing oil, natural gas and other mineral properties for exploration and expansion.

4 Aug 2011

Analysts Predict $8 Billion Profit for Rio Tinto

Rio Tinto is likely to post a net profit for its first half in the region of $8 billion. The profits have been bolstered by the hike in prices of iron ore, aluminium, and copper.

From Rio Tinto plc 3 Aug 2011

Rio Tinto to Challenge High Court Ruling on Pilbara Workplace Agreements

Rio Tinto is challenging a High Court ruling that will allow the unions to operate in the iron ore operations it owns in Western Australia. If the ruling holds the unions will be allowed to bargain on issues of pay and work conditions for mine workers in the Pilbara region.

From Rio Tinto plc 3 Aug 2011