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Reserve Bank of Australia Confident Economy WIll Pick Up

The Reserve Bank of Australia (RBA) issued a quarterly statement on Friday to the effect that economic growth in the country would be pick up over the next couple of years but would face serious challenge from inflation which is expected to increase to 2-3% by the end of 2013.

7 Aug 2011

Rio Tinto Unveils Bumper Profits

Mining giant Rio Tinto has a ‘bumper’ $7.6 billion first half net profit. The record profit is linked to the steadily rising prices of commodities which are being driven by demand from Asian nations.

From Rio Tinto plc 7 Aug 2011

Zone Resources Completes Airborne Survey at Labrador Trough

Zone Resources is in the trade of purchasing and assessing oil, natural gas and other mineral properties for exploration and expansion.

4 Aug 2011

Analysts Predict $8 Billion Profit for Rio Tinto

Rio Tinto is likely to post a net profit for its first half in the region of $8 billion. The profits have been bolstered by the hike in prices of iron ore, aluminium, and copper.

From Rio Tinto plc 3 Aug 2011

Rio Tinto to Challenge High Court Ruling on Pilbara Workplace Agreements

Rio Tinto is challenging a High Court ruling that will allow the unions to operate in the iron ore operations it owns in Western Australia. If the ruling holds the unions will be allowed to bargain on issues of pay and work conditions for mine workers in the Pilbara region.

From Rio Tinto plc 3 Aug 2011

Brenham Oil + Gas Buys Oil Field in Abilene, Texas

Brenham Oil & Gas has acquired an oil field, which consists of 20 oil wells, and is located on around 700 A land in the Texas-located Permian Basin next to Abilene.

3 Aug 2011

Black Raven Energy Buys 80% Operating Interest in Adena Field, Colorado

Black Raven Energy has acquired an 80% working interest in the Adena Field for $15.75 M. The area of this field is 18,760 gross acres located in Morgan County of Colorado and will be operated by the company.

3 Aug 2011

Lundin Petroleum Applies Field Development Plan for Brynhild Field

Lundin Norway, a subsidiary of Lundin Petroleum, and their associates Talisman Energy Norge (Talisman) and Noreco, has submitted a plan for the development and operation (PDO) of the Brynhild field to the Norwegian Ministry of Petroleum and Energy.

3 Aug 2011

Uranerz Energy Starts On-Site Construction at Nichols Ranch ISR Uranium Mine

Uranerz Energy has started on-site construction of its Nichols Ranch in-situ recovery (ISR) Uranium Project, which is situated in Wyoming’s Central Powder River Basin in U.S.A.

From Uranerz Energy Corporation 3 Aug 2011

Boom Time for Freeport McMoRan Copper & Gold

Freeport McMoRan Copper & Gold, Inc. (FMCG), the world's largest producers of copper, gold & molybdenum, has had an excellent second quarter. Earnings have practically doubled based on soaring metal prices and sales growth in double digits. The company posted a net profit of $1.37 billion.

2 Aug 2011