The coal mining company Banpu Pcl from Thailand is to bid for the Australian-based coal explorer Hunnu Coal. Hunnu Coal is focused on Mongolia and had called for a trading halt on its shares last Friday saying that a potentially significant corporate transaction was due on or before Tuesday.
The Premier of Western Australia Colin Barnett has said that the resolution of the Oakajee port and rail development matter is merely weeks away. He said that the project was the most difficult one that he had worked on as Premier in his three years in office, but he was confident that it would commence soon.
Is the mining industry really the big boon for the Australian economy that it is made out to be? A new report from The Australia Institute questions this. The author of the report and economist Richard Dennis said that the political clout of the mining industry was way out of proportion with its economic reality.
Firebird Resources has reported the second hole results from the ongoing drill campaign at its Buzzard project in South Carolina.
Columbus Silver Corporation saw its stock jump up by nearly 60% as news that it was to be acquired by US based company Santa Fe Gold Corporation for $10 million came to light. The all cash deal will see Santa Fe pay 20 cents per share for the 36 million shares of the Vancouver based Columbus Silver Corp.
Mining mergers and acquisitions have had a strong start this year but are expected to now slow down. Global mining deals in the first six months of 2011 were worth $71 billion and encompassed 1,379 mining mergers and acquisitions.
PetroWorth Resources, based in Canada, has inked a farm-in agreement with Pine Petroleum, which is based in Calgary, for drilling an oil prospect in south Alberta.
Standard Chartered has bought the mining advisory firm Gryphon Partners. The deal has been in the offing for a while and was made in a bid to expand the influence of Standard Chartered into Canada and Australia. The specialised corporate advisor presently has offices in Adelaide, Brisbane, Sydney, Toronto and Vancouver.
The President of Peru Ollanta Humala has given his approval to a law which gives the indigenous communities a right to be consulted over development being planned on their lands. The law was enacted by President Humala in Bagua which is a region in the Amazon where more than 30 people were killed in 2009 while protesting against oil and mining projects.
The Brazilian miner Vale SA is likely to sell its giant bulk carrier ships to China. The world’s largest iron ore producer had commissioned more than a dozen such ships but has decided that it does not want to become a major freight operator.
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