British engineering company Weir Group has done so well this year that it has re-entered the FTSE 100 Index. Based on a strong financial performance it has also upgraded its profits forecast for the current financial year. According to estimates by analysts the company is expected to report a pre tax profit of about £278 million for the fiscal year 2010.
Coal miners may soon have new guardian angels in China in robotic form. Given the rather dismal safety record of Chinese mines this is seen as a positive move. A factory in north China is going to begin producing coal mine rescue robots that will enter the hazardous areas of mining accidents to collect data.
Guyana Precious Metals Inc. (TSX-V: GPM) has announced a non-brokered private placement of up to 70,000,000 units at a price of $0.10 per Unit for gross proceeds of up to $7,000,000.
Goldbrook Ventures Inc. (TSX VENTURE:GBK) has announced completion of a successful summer exploration program on its Raglan project, Ungava, Quebec.
Darnley Bay Resources Limited (TSX VENTURE:DBL) has posted an update regarding its base metals drill program on its website. Ground geophysical surveys (gravity, electromagnetic and magnetic) have been completed on twenty targets, and are underway on five remaining targets.
Mercer Gold Corporation (OTCQB: MRGP, Frankfurt:AN4) announces that drill equipment has been mobilized and is on site at its Guayabales gold project.
EI Systems has announced that the United States Patent and Trademark Office has granted a patent-pending status for their web-based Rail Manager service. Clients use Rail Manager to track the status and location of railcars within large industrial sites and short-line rail yards.
Dril-Quip, Inc. (NYSE: DRQ) today announced that it has been awarded a contract valued at approximately $27 million by Shell Offshore Inc. to supply drilling and production equipment for the Olympus Tension Leg Platform to be installed in the Mars field located in the Mississippi Canyon area of the Gulf of Mexico. The Olympus TLP is part of the Mars B Project.
On 11 August, 2010, Maptek received a call from the team that was working on the rescue in San Jose mine, asking for help on the drilling control and 3D display to map the drillholes.
Xstrata Technology's IsaMills have been selected for the new magnetite processing circuit being developed at Xstrata Copper's Ernest Henry Mine in Queensland, Australia. The new circuit is part of the planned upgrade at the minesite as it transforms its mining operations from open pit to underground mining.
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