Crude oil prices plunged below 80 U.S. dollars a barrel Friday morning amid global sell-off.
Light, sweet crude for November delivery fell to as low as 79.27 dollars a barrel, down 7.32 dollars on the New York Mercantile Exchange.
The fear that the economic recession forcing consumers and businesses to reduce the energy consumption has dominated the [...]
TORONTO and LIMA, NORSEMONT MINING INC. today announced that the company made a new discovery to the Company for 100 one hundred controlled Constancia copper, molybdenum, silver project in south-eastern Peru. Pampacancha The anomaly was discovered approximately 2.7 kilometers southeast of the Constancia - San Jose deposit and is located in an area where the [...]
MINNEAPOLIS, Wits Basin Precious Minerals Inc. announced today that London Mining Plc and Wits Basin have reached an escrow agreement which London mining lodging U.S. $ 5000000 for the benefit of parties’ joint venture for the purchase of Maanshan Xiaonanshan iron ore mine and Sudan Nanjing processing plant (collectively known as Xiaonanshan Mine) located in [...]
The South African government announced its intention to resurrect a mining company that is owned by the state but has been dormant for about 60 years.
African exploration, Finance and Mines Corporation, which is under the control of the operator Petrosa Central Energy Fund (CEF) does not have a portfolio of the industry at present.
However, Deputy [...]
Virginia, Minnesota - The mining industry on the Iron Range has yet to feel the effects of the financial crisis that the slowing U.S. economy, but experts say some new projects May be affected.
Officials with Cleveland Cliffs and U.S. Steel said that there was no change in the taconite production at five plants on their [...]
LONDON, Oil prices fell Thursday the market refocused on data showing a jump in American stocks of crude, after a brief rally in response to the U.S. Senate approved a revised financial rescue.
London Brent from the North Sea crude for November delivery fell 1.24 dollars to 94.08 dollars a barrel.
New York’s main contract, light sweet [...]
In the early days of “oil” exploration, more oil finds are the result of digging or drilling near known oil and gas escapes, or accidentally found during drilling for water.
Drilling for oil was invented by the Chinese if they were looking for “salt” at the time, they came through the “oil”.
In 347 AD oil wells [...]
Ilagan, Isabela - A multinational company has undertaken a number of mining in the country is to conduct a mining project with another Filipino-owned mining consortium for the further extraction nickel in the province of south-east coast.
Philippines Geograce Resources Inc. has reached an agreement with Platinum Group Metals Corp. (PGMC) for an exclusive right to [...]
Lucas Energy, Inc. began drilling operations on a lateral extension of the Hagen Ranch-3 and in Gonzales County, Texas.
The Hagen Ranch and-3, originally drilled in 1994 and later closed because of low oil prices, was acquired by Lucas Energy in 2006 with 8 wells and 2000 acres held by production . The well is a [...]
VANCOUVER - British Columbia have ratcheted up their opposition to a project of Shell Canada Limited coal-bed methane project as a group of Mayors unanimously approved a resolution demanding Premier Gordon Campbell put an end to society drilling.
At the same time, environmental groups are preparing to petition the British Columbia government for the 10-year moratorium [...]