Glencore is gearing up for its initial public offering (IPO) in London this year and it’s being highly anticipated by the market.
Auric Mining has signed a Letter of Intent (LOI) to purchase Homestead Tonopah Gold, which is situated at Carson City in Nevada.
IronClad Mining Ltd had signed an agreement with Sea Transport Corporation to use a multi-user port facility concept developed by Sea Transport Corporation.
In South Africa the National Union of Minerworkers is worried that the Department of Mineral Resources (DRM) may be unable to fully regulate the mining industry in the nation. In its national executive committee meet, on Tuesday, it said that it had serious concerns about the DRM being able to handle the new online system that it had opted for.
ESCO Corporation has filed for an Initial Public Offering with U.S. regulators on Monday. The mining equipment component maker is looking to list stock on Nasdaq under the ESCO symbol. It hopes to raise $175 million plus from the sale of its shares on the market.
Coal mining acquisitions see Arch Coal buying out International Coal Group for $3.4 billion. This will allow Arch Coal to boost coal production for steelmaking grade coal and benefit from the soaring prices and global demand. It will also make Arch Coal the second largest U.S. producer of metallurgical coal by nearly doubling its production by 2015.
Senator Bob Brown of the Australian Greens is likely to ask for a Senate inquiry into the impact of undersea mining. Using underwater robots for mining the sea floor is likely to have some environmental impact and the leader of the Australian Greens wants to find out what it will be.
Explosives and chemicals manufacturer Orica has reported a strong profit with a nearly fivefold increase in the first half net profit for the year. The net profit of $263.8 million was posted by the company for the six months till March 31, 2011. This is a 379% increase from $55 million that was posted in the first fiscal half of 2010.
After months of anticipation and waiting Rio Tinto finally gets its hands on Riversdale Mining. Having taken control of the company Rio Tinto has moved to delist Riversdale Mining from the Australian Securities Exchange.
Once again the Treasury is warning the Australian government about the danger of inflation over the next couple of years as the resources boom powers yet another high growth year for the mining industry.
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