Mining Top News

A U.S. subsidiary of Russia’s state-controlled natural gas company signed a letter of intent to obtain all the capacity of a liquefied natural gas (LNG) terminal planned for Quebec.
The export subsidiary of OAO Gazprom reached a deal with its partners in the Rabaska terminal project to become an equity partner in the venture.
The partners are […]

Trina Solar Ltd. signed a long-term polysilicon supply agreement with Jupiter Corp. Ltd., an affiliate of DTK Industries (Qingdao) Co., Ltd.
Both companies are based in China.
Qingdao DTK will supply Trina Solar with enough polysilicon to make about 650 megawatts of solar modules over six years. Delivery of polysilicon at predetermined prices is expected to start […]

A new study from consultants Wood Mackenzie finds consolidation in the energy industry tends to boost shareholder value rather than diminish it.
The report analyzed the strategy used and value created in deals completed by 38 companies between 2001 and 2006. The companies included major oil companies, independents, Asian national companies and Russian players.
The 195 transactions […]

Mesa Power, a renewable energy company founded by billionaire Texas oilman T. Boone Pickens, placed an order for 667 wind turbines from General Electric Co. as part of a $2 billion startup of what is slated to become the world’s largest wind farm.
“You find an oilfield, it peaks and starts declining, and you’ve got to […]

The Energy Department’s Energy Information Administration said in its weekly report that natural-gas inventories held in underground storage in the lower 48 states rose by 93 billion cubic feet to about 1.53 trillion cubic feet for the week ended May 9.
The inventory level was slightly above the five-year average, but well below last year’s storage […]

Oil futures ended a whipsaw session slightly lower, as the expiration of options played havoc with prices, driving crude near record high levels at times and down by more than $3 a barrel at others. Retail gas prices, meanwhile, advanced past $3.77 a gallon.
Options let investors bet oil prices will rise or fall in the […]

A third diamond from the Baghain river basin near Kalinjar in Banda district has paved the way for mining of the precious mineral in Uttar Pradesh. The Department of Minerals and Mining had launched a survey of the river basin a few years back.
The first diamond was found in 2005 and the second in 2007. […]

Lonrho Mining has discovered an exceptional 61.30 carat yellow diamond at its Schmidtsdrift Mine in South Africa.
The huge stone is a fancy yellow perfect octahedron and is expected to yield a high value, said Lonrho Mining, which is 23% owned by Aim-listed Lonrho.
‘This diamond is of extremely high quality and is expected to achieve a […]

A study by experts has negated fears of health hazards from mining of uranium in Meghalaya, even as the Uranium Corporation of India Limited (UCIL) sought to convince the local people that the proposed mining project would pave the way for a massive development of the state.
Having faced stiff opposition from […]

Worldwide industrial services company Harsco Corporation announced it has successfully completed a bond offering of 5.75%, 10-year senior notes totaling $450 million. The notes were rated A3 by Moody’s and A- by both Standard & Poor’s and Fitch. The managing underwriters of the offering were J.P. Morgan Securities Inc., Citigroup Global Markets Inc., and Greenwich […]

Platts, one of the world’s foremost providers of energy and metals information, today announced it is expanding its suite of spot price assessments in global metals to include steel exported from China, specifically hot-rolled coil (HRC) and concrete reinforcing bar (rebar).
“We’re pleased we can answer the steel industry’s call for a reliable source of timely, […]

The chief financial officer of offshore drilling company Ensco International Inc. exercised options for 15,000 shares of common stock, according to a Securities and Exchange Commission filing Tuesday.
In a Form 4 filed with the SEC, James W. Swent III reported he exercised options for the shares Friday for $27.31 to $33.55 apiece and then sold […]