In a reminder of just how fast things can fall apart in the business world CuDeCo (ASX:CDU), a Queensland based mining company saw half its market value drop in one day.
By Joel Scanlon
19 Aug 2010
Woodside Petroleum (ASX:WPL), the Australian petroleum exploration and production company, has delayed its decision on the proposed expansion of the Pluto LNG project despite announcing a half yearly profit of nearly $1 billion.
Global steel company ArcelorMittal is now in talks with Chinese Wuhan Iron & Steel Group to develop overseas mining projects jointly to gain more raw material resources and reduce cost risks.
By Dr. Cameron Chai
18 Aug 2010
Vaaldiam Mining Inc (TSX: VAA), the Canadian based diamond mining and exploration company, has reported a net loss of $1,682,000 in the second quarter ending on June 30, 2010. It is a sign of improvement as for the same period in 2009 the company had reported a net loss of $2,231,000.
By Dr. Cameron Chai
18 Aug 2010
In a bid to provide better mining regulation and transparent functioning of government the Minerals Resources Minister of South Africa Susan Shabangu announced a new mining moratorium in Pretoria yesterday.
By Joel Scanlon
18 Aug 2010
The bid made by BHP Billiton for Potash Corp. has put mergers and acquisitions back on the mining agenda. The fertilizer industry is set for substantial growth in the coming years and the mining giants around the world are making deals to benefit from this expected boom.
The global mining giant, BHP Billiton is keen on developing potash projects in Western Canada into a world class resources.
Kennecott Utah Copper Corp is hoping to extend the life of its Bingham Canyon mine to 2034 by a proposed expansion. The world's biggest mine may get bigger if they get the permission to increase the size of the mine by about 1,000 feet in width and 300 feet in depth.
Four executives allegedly accused of misappropriation of funds were suspended by the Zimbabwe Mining Development Corporation. These include the Chief Executive and General Manager Dominic Mubayiwa, the Finance Director Robert Karemba, Group Technical Manager Albert Chitambo and Corporate Secretary Tichaona Muhonde.
By Dr. Cameron Chai
17 Aug 2010
The 19 day long protest in Bolivia's Potosi province was finally brought to an end with the protestors lifting the blockade of the airport and major roads.
In a clash between tribal conservation groups and profitable mining the Vedanta mining project has run into a controversy. The bauxite mine proposed by Vedanta on sacred tribal land in Dongria Kondh has been stalled by an Indian government inquiry.
By Joel Scanlon
17 Aug 2010
In what must be an extremely satisfying exploratory run Woodside Petroleum (ASX: WPL) has made a second gas discovery off the northwest coast of Australia within two days. The future investment in the Pluto Project which was earlier up for consideration is now a foregone conclusion.
Colombia is watching its foreign mining and oil investments boom as security gains and capitalist friendly investment rules come in to play.
By Joel Scanlon
16 Aug 2010
Centennial Coal (ASX:CEY) has announced a 28% fall in the net profits for the year 2009-2010. The annual net profit was reported at $51.5 million a step down from the $71.2 million posted by the company in the financial year 2008-09.
Leighton Holdings Ltd (ASX: LEI) reported a 39% rise in full year net profits on Monday. The company said that work in hand had increased to a new record making sure that it was looking forward to a good current financial year as well.
By Joel Scanlon
16 Aug 2010