Mining group Xstrata shareholders approved a $ 5.9bn rights issue on Monday that the company could repay the debt, but also voted for the acquisition of a coal mine in Colombia.
Xstrata, the world fifth largest diversified mining group by market value, has announced plans to release the highly discounted new shares at 29 January, which [...]
Mining Exploration News:(oil prices)
The price of oil fell again in morning trade on Tuesday. Light sweet crude oil for February delivery rose to $ 39.33, down 58 cents on the session. Prices reached as high as $ 40.65 before the associative lower.
Traders looked ahead to Wednesday’s Energy Information weekly inventories report. Experts looking around to [...]
Mining Exploration News:
Oil prices increased about 4 percent Thursday to close to $ 45 a barrel as investors look past an energy watchdog’s warning that global demand is sliding sharply and focused on expectations of OPEC production cut next week.
A weak dollar and news that the U.S. Congress is one step to approve $ 14 [...]
That Was The Week That Was … In Canada
By Our Canadian Correspondent
Minews. Now over to our Canadian correspondent for a look at how the Canadian markets performed during the previous week.
CC. Tax loss selling seemed to be the story of the week on the Canadian markets, with the gloomy economic outlook prompting investors to move [...]
By Rob Davies
When the finance director of a mining company, yes one that is in production, says that his company has 26p a share in net cash and that the share price is 18p you can begin to get a sense of how dislocated the current market is. It was only just over a year [...]
TOP PRODUCER gold and copper Philex Mining Corp. are interested in acquiring other mining companies after selling 20 percent shares in November to the Hong Kong-based conglomerate First Pacific Co. Ltd. to P6.2 billion.
Philex chair Walter Brown said that First Pacific, Indonesia was represented by the king of telecommunications Manuel V. Pangilinan, has committed to [...]
NORWICH – Chenango County officials may have the opportunity to speak about the environmental impact of natural gas and oil drilling at a public hearing tomorrow morning in Albany.
The New York State Assembly’s Environmental Conservation Committee hearing will examine the environmental protections needed in the Department of Environmental Conservation’s new natural gas and oil drilling [...]
Directional drilling was developed in 1929, but horizontal oil drilling became cost-effective and technically feasible only about five years ago.
Drillers extract natural gas in shale formations from West Texas all the way up into the Appalachians, but these formations cover entire counties and can be 200 or 300 feet thick. Mark Herndon’s target in the [...]
George A. Brown, president and CEO of MacMillan Gold Corp. (TSX VENTURE: MMG) is pleased to announce that MacMillan has received a further 100,000 shares of West Timmins Mining Inc. (TSX: WTM) of Vancouver. These were published as the reason, or the September 30, 2008, under the terms of the Letter of property Option Agreement [...]
Have you ever held an actual lump of coal in your hands? It looks like a black rock. But the thing you immediately notice is its weight. Coal feels incredibly light compared to a normal rock. That’s because coal is composed largely of carbon, which is the same lightweight element found in carbon fiber tennis [...]