Macarthur Coal Ltd refused an unsolicited $5.2 billion bid from a pair of industrial giants over the weekend. Peabody Energy Corp and ArcelorMittal had offered a 40% premium over the current stock market value for Macarthur Coal.
By Joel Scanlon
2 Aug 2011
Kulczyk Oil Ventures has tested the gas at the second zone of the Olgovskoye-9 well in Ukraine and updated the O-8 well.
By Joel Scanlon
2 Aug 2011
Cullen Resources has unveiled high-grade zinc discovery, which intercepted 8.98% zinc over 3 m at a huge sulphide zone in the TL property.
By Joel Scanlon
2 Aug 2011
Beach Energy has discovered two new oil fields at Bauer-1 well in the Western Flank, where one is the third in a five well exploration program at the PEL 91, and the other is the last well in the preliminary 11-well program in the PEL 92 at Rincon-1.
By Joel Scanlon
2 Aug 2011
Despite a World Trade Organization (WTO) decision that China’s restriction of rare earths export quotas is a violation of trade rules that nation has announced that it will further reduce the quotas for export. EU Trade Spokesperson John Clancy said that the decision was highly disappointing.
Bolivia and South Korea have agreed to a joint venture to exploit the lithium battery business sector. The Korean state run Korea Resources Corp or KORES as it is known announced on Sunday that it had signed a memorandum of understanding with Bolivia's state-owned mining corporation COMIBOL.
By Joel Scanlon
1 Aug 2011
The drilling program at the Twin Bonanza Gold Camp Project owned by ABM Resources is proceeding very well. The results from the Buccaneer Porphyry Gold Deposit have shown significant gold intersection of 0.52 grams per tonne over 427 meters.
By Joel Scanlon
1 Aug 2011
The second quarter earnings of Lundin Mining Corporation have shown an increase of 36% from the corresponding period last year. However this was less than what the company expected. The lower earnings were a result of poor ore grades at their Portugal and Sweden based mines.
There are no plans to lift the uranium mining ban by the New South Wales Government in the state. Energy and Resources Minister Chris Hartcher and the Australian Uranium Association had a meeting in June but were unable to budge the ban.
By Joel Scanlon
1 Aug 2011
Eastmain Mines is currently performing a 15,000 m drilling campaign at the Eastmain Mine property, which is situated in James Bay, Québec.
By Joel Scanlon
1 Aug 2011
Brookemont Capital (BKT) has announced about the site visit of its field manager at the recently explored 4.5 km arsenic soil sampling geochem anomaly, located at the Tanzanian property contagious to the north of Magambazi Prospecting License of Canaco.
By Joel Scanlon
1 Aug 2011
Bannerman Resources has received an Environmental Clearance notice from the Namibian Ministry of Environment and Tourism for the Etango Uranium Project. The company was waiting for the approval for its linear infrastructure proposal.
Diamond sales in India, China and the Middle East are responsible for a 30% rise in total global sales of the precious stone. As per diamond giant De Beers the last six months saw the price of diamonds go up by 35% as well. There seems to be no stopping diamond sales over the coming months as well as per analysts.
By Joel Scanlon
31 Jul 2011
Chinese shipping companies don’t want Brazilian company Vale SA to expand its own iron ore fleet. Vale has plans to spend $2.3 billion on building the largest iron ore carriers in the world that will help them haul steel making materials to China.
Otish Energy has reported results from the rock sample assay from its Guyana-based Puruni gold project, which is located in the Mazaruni Mining District.
By Joel Scanlon
30 Jul 2011