Whilst the coal sector in Australia is consolidating gains and attracting new investments, Whitehaven Coal (ASX:WHC) is said to have refused an informal approach for a takeover bid but has confirmed it is in discussions with other companies over potential corporate transactions.
Global Geoscience Ltd. (ASX:GSC), an Australian based mineral exploration company, is selling a copper gold project in northern part of New South Wales to White Rock Minerals Ltd.
By Dr. Cameron Chai
5 Aug 2010
The global recession seems to be dissipating as more investments get planned for the mining industry. Mining giant Xstrata is all set to invest $ US5.3 billion to build a copper mine in Peru and to expand a coal mine in New South Wales, Australia.
By Joel Scanlon
5 Aug 2010
Gold prices shot up to higher than $ 1,200 per ounce on Wednesday. It was the first time this happened in nearly two weeks. The strong physical demand of gold lifted the price of the metal to a sixth day gain.
By Joel Scanlon
5 Aug 2010
Another effort to finally plug the oil leak in the Gulf of Mexico is being made by BP at its Macondo prospect. This time the company is pumping heavy drilling mud in an attempt to plug the ruptured well. As per vice president Kent Wells it was too early to know how long the process would take.
By Joel Scanlon
4 Aug 2010
Australian mining and construction company Thiess is currently in negotiation with the 200 workers at a coal mine in Queensland. Workers at the Collinsville mine went on strike on Tuesday over job security concerns and pay disputes.
Mining giant Xstrata has announced positive half yearly results for 2010. In fact the operating profit in its north Queensland copper division was announced at $167 million, much higher than the profits corresponding to the same period last year.
By Dr. Cameron Chai
3 Aug 2010
Cougar Energy (ASX: CXY) may have reason to celebrate although it is not quite out of the woods yet. The underground coal gasification plant near Kingaroy QLD had been put on hold last month when traces of benzene and toluene were found in bore water supplies in close to the plant.
By Joel Scanlon
3 Aug 2010
Fortescue Metals Chief Executive Andrew Forrest says that iron ore prices will drop this year. He also insisted that the fall will not be directly related to the slowdown in China’s demand. Mr. Forrest was addressing the Diggers and Dealers conference in Western Australia goldfields city of Kalgoorlie.
Bandanna Energy Limited (ASX:BND) has stepped up its drilling activity with the addition of a sixth drill rig. Three rigs are now currently drilling in Bandanna's Golden Triangle area and three, operated by AMCI, are drilling in the South Galilee Project area.
Terramin Australia Limited (ASX: TZN) today released its 2nd Quarter Report 2010. The summary from Kevin Moriarty Executive Chairman shows Angas production down due to short term issues including lower grades, however drilling is underway to extend mine life.
Newmont Mining Corporation (NYSE: NEM), one of the world’s largest gold producers, has announced second quarter adjusted net incomeof $377 million ($0.77 per share) compared to $211 million ($0.43 per share) in the prior year quarter.
Compañía Minera Doña Inés de Collahuasi SCM has announced a revised Mineral Resource estimate with an increase to total Mineral Resources and Ore Reserves.
Medoro Resources Ltd. (TSX-V: MRS), a gold exploration, development and mining company with a primary emphasis on Colombia, has announced results from 30 additional drill holes at its exploration program at the Marmato Project in Colombia.
By Joel Scanlon
27 Jul 2010
Lincoln Mining Corporation, (TSX-V: LMG) a Canadian company exploring and developing prime gold and silver projects, has reported on progress at its La Bufa property in southwestern Chihuahua, Mexico.