Birch Mountain Resources Ltd. (TSXV:BMD) says an independent report has put a value of $1.66 billion on its Hammerstone mineral project in the Alberta oilsands.
The valuation was done by AMEC Americas Ltd. for the project in the Athabasca region, Calgary-based Birch Mountain said Monday.
After a trading halt on the Toronto stock market Birch Mountain shares [...]

Phelps Dodge Corp. is buying Canadian mining companies Inco Ltd. and Falconbridge Ltd. for about $40 billion in a bet that global demand will continue to be strong enough to support surging metals prices.
The deal could resolve what had been a four-way bidding war and would create a dominant copper and nickel producer in the [...]

What started last fall as a straightforward merger between Sudbury’s two long-time nickel producers threatens to become a sell-off to U.S. interests of a huge chunk of Canada’s mining industry — one of our few industries in which Canadians still call most of the shots.
The proposed $40 billion (U.S.) mega-merger announced yesterday among the Canadian [...]

The final major shutdown required to rehabilitate the South African Port Operations (Sapo) Richards Bay coking-coal store-conveyor system, which was destroyed by a fire last year, has recently been completed.
While the fire that destroyed two sections of gantry and their conveyors was quickly extinguished, it left the 200 000-t store unable to receive or despatch [...]

China’s top economic agency on Saturday ordered a clampdown on new coal mines to stem a looming production glut it said threatened the long-term viability of the industry.
The National Develpment and Reform Commission said China’s coal sector was threatened by excessive investment and ballooning over-capacity.
“Problems accumulated over a long time with structural irrationalities, low-level technology, [...]

Coal exports from Richard’s Bay, South Africa, totalled just 5,17-million tons in April, the lowest for 13 months, Simpson, Spence & Young ship consultancy said on Monday.
Citing offical data quoted by the McCloskey Group, SSY said exports had slipped to their lowest level since last March. The April figure compared with 6,40-million tons in April [...]

Coal producer Anglo Coal has ventured into the renewable energy market by acquiring a 5,3% equity stake in Johanna Solar Technology (JST), a German photovoltaic-technology company.
“Anglo Coal’s interest in JST forms part of a wider involvement in promoting and developing carbon mitigation and offset technologies, as part of coal’s strategic response to meeting the environmental [...]

JSE Alternative Exchange Listed Wescoal has confirmed that earnings are down as a result of supply constraints.
In the company’s full year results to the end of March, it said that revenue for the year was 8,2% lower than its previous comparative period.
The results, the first as a listed entity, also indicate that sales into the [...]

The union that represents many Inco and Falconbridge employees is wary of a deal that would see the mining companies merge with an American company.
Phelps Dodge Corp. announced its plans on Monday to merge with Inco and Falconbridge, in a transaction valued at $40 billion US.
The United Steelworkers union, which is hosting a meeting of [...]

Troubled gold miner Croesus Mining NL has gone into administration after failing to restructure its finances and meet its hedging debts.
The company had been working for several months to restructure its operations and finances.
However, in a statement to the Australian Stock Exchange (ASX) administrators Bryan Hughes and Vincent Smith of Pitcher Partners said they were [...]